Total
0
Shares
Lefroy Exploration (ASX:LEX) - Managing Director, Wade Johnson - The Market Herald
Managing Director, Wade Johnson
Source: Kalgoorlie Miner
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lefroy Exploration (LEX) has identified five surface gold anomalies from a recent auger drilling program at the Eastern Lefroy tenement package in WA
  • The 3120-hole program aimed to assess a group of tenements near the Mt Monger fault which Lefroy believes are prospective for major gold deposits
  • Lefroy is now planning to follow-up on the five anomalies with an upcoming aircore drilling program
  • Results from the last 300 samples of auger drilling are expected in the next two weeks
  • Company shares last traded flat at 23 cents

Lefroy Exploration (LEX) has received results from a recently-completed 3120-hole auger drilling program at the Eastern Lefroy tenement package.

The Eastern Lefroy tenement package is part of the greater Lefroy Gold Project which is located 50 kilometres southeast of Kalgoorlie, Western Australia.

The drilling aimed to assess a contiguous group of tenements covering 71-square kilometres that straddle the regional scale Mt Monger fault. The company believes the areas around the Mt Monger Fault are prospective for large gold deposits.

Pleasingly, the drilling program has generated new gold targets for drill testing.

Five strong surface gold anomalies were identified near the Hang Glider Hill prospect. Of these, three are north-south trending gold anomalies which extends over more than 400 to 600 metres. One of these anomalies shows a peak value of 581 parts per billion gold (0.58g/t gold). This marks the highest gold result recorded from the program.

The other two anomalies are located roughly 2.5 kilometres along strike to the southeast of the Hang Glider Hill prospect. Last year, Lefroy conducted diamond drilling in this area which intersected 6.8 metres at 1.86g/t gold from 53.7 metres.

These two anomalies are near the interpreted position of the Mt Monger and Hang Glider Hill faults which further strengthens the gold prospectivity along the developing corridor.

"These surface sample results are highly encouraging and continue to
validate and reinforce the prospectivity of the Hang Glider Hill Exploration hub," Managing Director Wade Johnson said.

The results from the remaining 300 samples are expected in two weeks.

Lefroy has submitted a program of works (POW) to the Department of Mines, Industry Regulation and Safety (DMIRS) for an aircore drilling program at each of these target areas. Drilling is expected to begin next month.

Company shares last traded flat at 23 cents at 11:27 am AEDT.

LEX by the numbers
More From The Market Herald
Arrow Minerals (ASX:AMD) - CEO & Managing Director, Howard Golden - The Market Herald

" Arrow Minerals (ASX:AMD) and Trevali Mining enter exploration agreement

Arrow Minerals (AMD) has signed a binding term sheet with Canada-based Trevali Mining for an exploration joint venture.
Surefire Resources (ASX:SRN) intersects high-grade gold at Yidby

" Sunshine Gold (ASX:SHN) intersects up to 52.86g/t gold from Big Hans

Sunshine Gold (SHN) has intersected up to 52.86g/t gold from the Big Hans Prospect at the Triumph Gold Project.
Mandrake Resources (ASX:MAN) - Managing Director, James Allchurch - The Market Herald

" Mandrake Resources (ASX:MAN) secures land access agreement

Mandrake Resources (MAN) has entered into a binding access, compensation, and consent deed for its Newleyine prospect.
Navarre Minerals (ASX:NML) receives encouraging AC results from Jubilee

" Hastings Technology Metals (ASX:HAS) receives results from Yangibana

Rare earths producer Hastings Technology Metals (HAS) has received results from a recent drilling program at the Yangibana Rare Earths Project.