Total
0
Shares
Lefroy Exploration (ASX:LEX) - Managing Director, Wade Johnson (right)
Managing Director, Wade Johnson (right)
Source: Lefroy Exploration / Twitter
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lefroy Exploration (LEX) has intersected high-grade gold and copper mineralisation at the Burns prospect, which is part of the Lefroy Gold Project in WA
  • Lefroy completed a 22-hole drilling program which aimed to evaluate the depth and strike of the Burns prospect
  • One hole in particular returned a 20-metre interval grading at 12.2g/t gold, 0.87 per cent copper and 1.7g/t silver within a broader 60-metre downhole interval
  • The company is waiting on assays for another 12 holes and plans to conduct further drilling to follow up on these results
  • Lefroy’s shares are up 198 per cent on the back of this news to trade at 61 cents

Lefroy Exploration (LEX) has received assay results from a reverse circulation (RC) and diamond drilling program at the Burns prospect.

The Burns prospect lies within the Eastern Lefroy tenement package, which is part of Lefroy’s namesake gold project in Western Australia.

The 22-hole RC and diamond drilling was completed earlier this month and covered 4026 metres of the Burns gold-copper system to evaluate its depth and strike.

Lefroy is particularly impressed with one hole which returned an outstanding intercept. Results include 60 metres at 5.22g/t gold and 0.38 per cent copper from 112 metres downhole to end of hole including 20 metres at 12.2g/t gold, 0.87 per cent copper and 1.7g/t silver from 144 metres.

“The intersection in LEFR260 is outstanding by any measure and is quite exciting. We will need to look north, south, east and deeper from this discovery hole to establish the structure which has delivered this intersection,” Chairman Gordon Galt said.

Drilling also identified a magnetic anomaly 300 metres to the north of the prospect. This anomaly is yet to be tested.

Lefroy is waiting on results for another 12 holes and expects to receive these by the end of March. It will also undertake follow-up diamond drilling to extend the mineralisation.

Lefroy’s shares are up 198 per cent on the back of this news to trade at 61 cents at 11:46 am AEDT.

LEX by the numbers
More From The Market Herald
Barton Gold (ASX:BGD) - Managing Director, Alexander Scanlon

" Barton Gold (ASX:BGD) extends discovery at Perseverance

Barton Gold (BGD) has received the first assay results from phase two drilling at the Tarcoola gold project in South Australia’s Gawler Craton
Scorpion Minerals (ASX:SCN) - Non Executive Chair, Bronwyn Barnes

" Scorpion Minerals (ASX:SCN) hits gold at Pharos

Scorpion Minerals (SCN) has received results from its recently completed reverse circulation (RC) drilling program at its Pharos project.

" Redstone Resources (ASX:RDS) begins drilling at West Musgrave

Redstone Resources (RDS) has begun a 3000-metre drilling program at the Tollu copper vein system and surrounding areas.

" Variscan Mines (ASX:VAR) receives approval for Buenahora drilling

Variscan Mines (VAR) has received government approval to drill over the Buenahora license area within the Novales-Udias Project in northern Spain.