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Lefroy Exploration (ASX:LEX) - Managing Director, Wade Johnson - The Market Herald
Managing Director, Wade Johnson
Source: Kalgoorlie Miner
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  • Lefroy Exploration (LEX) has received strong initial results at Lake Lefroy from joint venture (JV) partner Gold Fields
  • Gold Fields began reverse circulation (RC) drilling at Lake Lefroy in July with aims to evaluate six gold anomalies
  • 9000 metres of RC drilling was undertaken on the anomalies and each area will now be evaluated to gain a better understanding on the bedrock
  • Of the 21 holes drilled, Lefroy has received results for 10, with grades peaking at 18.55g/t gold
  • Work is still continuing and is expected to be completed in December
  • Lefroy has ended the day 12.5 per cent in the green with shares trading for 27 cents each

Lefroy Exploration (LEX) has received strong initial results at Lake Lefroy from joint venture (JV) partner Gold Fields.

Gold Fields began reverse circulation (RC) drilling at Lake Lefroy in July with aims to evaluate six gold anomalies.

Additionally, drilling was also completed to follow-up on aircore (AC) drilling that began in January 2019.

As part of the program, 9000 metres of RC drilling was undertaken on the anomalies and each will now be evaluated to gain a better understanding of the bedrock.

On top of this, a diamond rig was mobilised to site in September to support the program, with diamond drilling in the area planned to provide better geological, geochemical, and structural information to improve the understanding of Lake Lefroy.

Of the 21 recently drilled holes, Lefroy has received results for 10, which includes two diamond core holes, with results for the remaining 11 pending.

Best results include nine metres at 3.58g/t gold from 96 metres including one metre at 18.55g/t gold from 97 metres in hole SAL1764, and three metres at 3.25g/t gold from 82 metres including one metre at 7.88g/t gold from 82 metres in hole SAL1777.

"The gold intersection in hole SAL1764 is one of the best gram metre intersections recorded from a drill hole in the LEX Lake Lefroy tenure and is very exciting news," Managing Director Wade Johnson commented.

"We are supportive of the exploration methodology being undertaken by our partner and eagerly await the next batch of drill results," he added.

Work is still continuing and is expected to be completed in December.

Lefroy has ended the day 12.5 per cent in the green with shares trading for 27 cents each in a $27.13 million market cap.

LEX by the numbers
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