Total
0
Shares
Si6 Metals (ASX:SI6) posts early assay results from WA drilling program
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lefroy Exploration (LEX) is in the early stages of diamond drilling at its Burns prospect within the Eastern Lefroy project, near Kalgoorlie in WA
  • An additional six pre-collars will be completed for a subsequent diamond drill program at the gold-copper prospect
  • The drilling will follow up and extend the high-grade gold and copper intersection hosted by porphyry in previous hole LEFR260
  • The company plans to complete the RC pre collars in six days, with diamond drilling to start early next month depending on drill rig availability
  • Following this, LEX plans to explore the northern extent of the eastern porphyry, which it believes hosts a stronger mineralised zone at depth
  • Shares are trading 9.2 per cent higher at 65 cents each

Lefroy Exploration (LEX) is in the early stages of diamond drilling at its Burns prospect within the Eastern Lefroy project, near Kalgoorlie in WA.

An additional six pre-collars will be completed for a subsequent diamond drill program at the gold-copper prospect.

The eight pre collars already in place test both strike and depth extensions of the intercept in hole LEFR260, results of which were announced last month.

The intercept contained 60 metres at 5.22 grams per tonne (g/t) of gold, 0.38 per cent copper from 112 metres downhole to end of hole, including 20 metres at 12.2g/t of gold and 0.87 per cent copper and 1.7g/t silver from 144 metres.

Managing Director, Wade Johnson said the company is excited to be drilling again at Burns to "follow up and extend the stunning gold-copper intersection
hosted by porphyry in hole LEFR260."

He explained that the RC program is "preparing holes to be used for a broad scoping diamond drilling program that aims to both extend and advance the
geological understanding of this exciting new porphyry hosted mineral system."

The company says the intersection is hosted within fresh hematite altered porphyry which is a significant new development in an under-explored eastern side of the Burns magnetic anomaly.

It's expected the RC pre collars will take six days to complete with diamond drilling to start early next month depending on drill rig availability.

After the program is completed, LEX says it will focus on exploring the northern extent of the eastern porphyry, which is established by hole LEFR263.

The company believes the hole is peripheral to a stronger mineralised zone at depth. It intersected shallow gold and copper ending in weakly altered porphyry.

Shares are trading 9.2 per cent higher at 65 cents each at 2:07 pm AEDT.


LEX by the numbers
More From The Market Herald
Great Boulder Resources (ASX:GBR) receives last RC results from Side Well

" Great Boulder Resources (ASX:GBR) begins AC drilling at Side Well

Great Boulder Resources (GBR) has begun a 60-hole aircore (AC) drilling program at the Side Well Gold Project in Western Australia.
Ausmon Resources (ASX:AOA) to be granted McAlpine licence

" Ausmon Resources (ASX:AOA) to be granted McAlpine licence

Ausmon Resources’ (AOA) subsidiary, New Base Metals, will soon be granted a six-year exploration licence for its McAlpine application in NSW.
Podium Minerals (ASX:POD) plans upcoming capital raise

" KGL Resources (ASX:KGL) raises additional funds through shortfall

KGL Resources (KGL) has raised an additional $3.64 million, after raising over $9.57 million in an entitlement offer in March.
GWR Group (ASX:GWR) - Non Executive Deputy Chairman, Tan Sri Dato Tien Seng Law - The Market Herald

" GWR Group (ASX:GWR) and Fe Limited (ASX:FEL) re-negotiate agreement

GWR Group (GWR) and Fe Limited (FEL) have re-negotiated and extended their mining rights agreement covering the JWD iron ore deposit.