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Lefroy Exploration Commences Grade Control Drilling Campaign at Lucky Strike

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) greeted punters at the RIU Sydney Resources Roundup with news it has commenced grade control drilling at the company’s Lucky Strike gold project in Western Australia.

Lefroy Exploration described the grade control drilling program at Lucky Strike, targeting the northern pit, as a major step towards commencing operations in the second half of 2025.

The Lucky Strike gold project contains a Mineral Resource Estimate of 1.27 million tonnes at 1.95 grams per tonne gold for 79,600 ounces (Indicated 0.7Mt at 1.93g/t gold for 43,400 ounces. Inferred 0.57Mt at 1.97g/t gold for 36,200 ounces).

Apart from undertaking close spaced grade control drilling at Lucky Strike in readiness for mining, the current program will additionally be used to capture data supporting geotechnical, hydrogeological and waste rock characterisation studies.

“Momentum is building at Lucky Strike, with our mining partners BML Ventures mobilising at the beginning of the month to commence the first phase of grade control drilling,” Lefroy Exploration CEO Graeme Gribbin said in the company’s ASX announcement.

“This and subsequent grade control drilling programs will enable the company to acquire all the necessary data to complete final pre-mining studies at Lucky Strike, setting the stage for mining operations to commence in the second half of this year.”

 

 

Lefroy Exploration Extends Near-surface Gold Resources at Mt Martin

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) updated the Mineral Resource Estimate (MRE) for the Mt Martin deposit located in the company’s Location 45 freehold property in the Eastern Goldfields of Western Australia.

Lefroy Exploration recent work has focused on growth in the near-surface gold resource base at its 100 per cent-owned Mt Martin project.

These efforts resulted in the estimate of 9.25 million tonnes at 1.47 grams per tonne gold for 439,000 contained ounces, which represents a 13 per cent increase in near-surface ounces.

Lefroy explained the near-surface resource growth was underpinned by an additional 29 drill holes completed within both the Main Shear and East Shear at Mt Martin that encountered numerous intersections.

“We are very pleased to provide an update on the Mt Martin resource, further demonstrating the company’s strong base of near-surface gold resources within the Lefroy project,” Lefroy Exploration CEO Graeme Gribbin said n the company’s ASX announcement.

“Located within the freehold property of Location 45, which affords a streamlined pathway to ultimate commercialisation, the Mt Martin resource is well located within the Kalgoorlie-Kambalda district, strategically placed adjacent to existing haulage and gold processing infrastructure.

“We are most encouraged by the increase in our near-surface resource ounces at Mt Martin and believe that with future near surface programs targeting the Main, East and Adelaide Shear down-plunge to the north, there is a pathway to grow the resource even further.

“Coupled with our recent MRE update announcement where we demonstrated the shallow high-grade potential of the Burns Central gold deposit, the company will now embark on exploration activities across the broader Lefroy project to unlock further value in the region.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Lefroy Exploration Gets Mt Martin Resource Extension Drilling Underway

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) has started resource expansion drilling at the company’s Mt Martin Gold Mine outside Kalgoorlie in Western Australia.

Lefroy Exploration explained this drilling is to be the first new exploration undertaken at Mt Martin in over ten years and will entail some 37 reverse circulation (RC) drill holes planned to evaluate multiple shallow west dipping gold mineralised structures over a 1000m strike length.

The company has interrogated limited shallow historic drilling, from which it has ascertained there to be multiple mineralised shear structures outside the open pit that remain largely untested, including the Adelaide Shear.

This program is designed to extend known mineralised shear zones outside the historic mine workings and deliver additional gold resources for open pit mine development planning.

This program is expected to be completed within three weeks with initial assay results anticipated to be returned in early December, and final results in January 2024.

“We are thrilled to kick off our maiden resource drilling program at the Mt Martin Gold Mine located within Location 45 where we recently acquired the mineral rights over this freehold property,” Lefroy Exploration managing director Wade Johnson said in the company’s ASX announcement.

“Mt Martin contains a significant gold resource beneath the open pit that has remained undrilled for almost 10 years and that presents an opportunity for near term development.

“Our aim is to rapidly assess and grow the resource to pursue restart of the mine as the gold price continues to strengthen.

“We are fortunate to have several major gold mines neighbouring Mt Martin and believe this provides potential options to rapidly realise value from this asset, in addition we have developed a strong exploration framework to significantly grow the resource.”

 

 

Lefroy Exploration to Spin Out Nickel Asset

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THE BOURSE WHISPERER: Lefroy Exploration (ASX: LEX) informed the market of its plans to demerger/IPO the company’s wholly-owned subsidiary Johnston Lakes Nickel (JLN).

Lefroy Exploration explained it is targeted listing of JLN in the first half of CY23 subject to shareholder and ASX approvals.

Johnston Lakes Nickel’s nickel assets consist of Carnilya South, within the Lefroy project, and Lake Johnston, both in areas of high nickel endowment near Kalgoorlie, and the Glenayle project, located 200 kilometres northeast of Wiluna.

The demerger has been inspired by recent positive investor sentiment within the nickel sector, motivating Lefroy to assess strategies to generate value recognition for its nickel assets, with a decision ultimately being made to undertake a demerger and IPO of JLN.

Lefroy said the demerger/IPO would allow it to focus on the company’s Lefroy gold project near Kalgoorlie, within which the key Burns target is currently being drilled out with eyes on a maiden Resource estimate in March 2023.

“We are progressing the demerger/IPO for JLN, with a target of completion during H1/23,” Lefroy Exploration non-executive chairman Gordon Galt said in the company’s ASX announcement.

“We have now appointed the Directors, including the Managing Director, so we have a first-class leadership team in place to explore our suite of first-class assets as soon as the demerger/IPO completes.

“This process will crystallise the inherent value in our nickel assets for LEX shareholders and will add to the existing value of our gold assets, which include the Burns project currently being drilled out for a maiden resource statement early in 2023.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.lefroyex.com

 

Lefroy Exploration Encounters Gold Copper Cobalt Intersection

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) reported assay results from recent drilling undertaken at the company’s wholly-owned Eastern Lefroy gold project southeast of Kalgoorlie in Western Australia.

Lefroy Exploration received the first assay results from a four-hole diamond drill program completed at the Burns gold-copper intrusion-related mineral system within the Eastern Lefroy project.

The company said the assay results from a 400 metres to 461m interval of 1245m deep, diamond drill hole, LEFD006, at Burns confirmed a new zone of gold-copper-cobalt mineralisation, providing further support for a polymetallic intrusion related system.

Within this 61m interval the drilling encountered a new mineralised and altered diorite porphyry, situated west of the main Central Porphyry suite at Burns.

This returned results that correspond to stronger zones of visually identified magnetite and sulphide mineralisation, and include:

19.6 metres at 0.33 grams per tonne gold and 0.75 per cent copper from 428m-447.6m, including 3.5m at 0.86g/t gold, 0.72 per cent copper and 0.09 per cent cobalt from 430m, and

6.3m at 0.47g/t gold, 1.7 per cent copper and 223ppm cobalt from 433.5m.

“Burns is a new and unique style of intrusion-related, gold-copper-molybdenum-silver mineral system,” Lefroy Exploration said in its ASX announcement.

“The gold, copper, silver (and lesser molybdenum) mineralisation, which is hosted by multiple diorite-porphyry intrusives and high-magnesium basalt, is considered by the company to be a new and unique style of gold-copper mineralisation in the Eastern Goldfields of Western Australia.”

 

 

 

Web: www.lefroyex.com

 

 

Lefroy Exploration Intersects Copper Mineralisation at Lovejoy

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) hit copper mineralisation during recent diamond drilling on the company’s wholly-owned Eastern Lefroy gold project outside Kalgoorlie in Western Australia.

Lefroy Exploration reported a diamond hole drilled at the Lovejoy prospect, located 1.5 kilometres north of the recent Burns gold-copper discovery, intersected copper mineralisation of a boisterous enough nature to excite the company.

Dimond hole LEFD008 was drilled to 364 metres down hole and intersected a 145m long interval of copper mineralisation between 130m-275m that included a 42m length of hydrothermal breccia, which hosts extensive native copper and copper sulphides from 233m – 275m.

The drilling was carried out to follow up pervious results returned from RC drilling that also encountered encouraging copper hits.

The company said the intensity of native copper mineralisation in the breccia zone was further demonstrated by copper coating the outside of several steel drill rods from the drill string.

“This is a remarkable new discovery of copper mineralisation 1.5 kilometres north of Burns, which is open,” Lefroy Exploration managing director Wade Johnson said in the company’s ASX announcement.

“With every hole drilled we advance and grow the overall Burns project.

“We believe the copper-rich breccia is a component of a larger magmatic system, the limits of which we are yet to define.

“Lovejoy has always been a high priority target given its unique geophysical signature, as well as the significant results generated from LEFR297 in 2021 that ended in 1.5 per cent copper at 258 metres.

“We have acted immediately on this new discovery and while we eagerly await the assays from LEFD008, we expect more encouraging visual results with follow-up diamond hole LEFD009.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.lefroyex.com