Special Report: While the drilling was only really done to get a geological understanding of the area, the early exploration program at Lake Randall has already hit gold.

Partner in the Farm in & Joint Venture (JV) Lefroy Exploration (ASX:LEX) has told the market that an aircore drilling program done at Lake Randall, to the east of Lake Lefroy near Kalgoorlie included hits of:

  • 2m at 0.22 grams per tonne (g/t) gold from 40m
  • 2m at 0.5g/t from 6m
  • 2m at 0.93g/t from 64m
  • 2m at 0.39g/t from 14m

Lefroy said the drilling had effectively added another gold target for the JV to follow up on, adding to the Zanex and LLT06 anomalies at Lake Lefroy.

The drilling was done south-west of the Neon gold prospect, which was identified by shallow aircore drilling in Lake Randall back in the 90s.

Supplied.

The recent drilling was done as part of a massive drilling campaign undertaken by Gold Fields (listed in New York as NYSE: GFI) — as part of a $25m farm-in deal struck in June last year.

While the original program that commenced in February this year was to drill just 350 vertical holes at Lake Lefroy, but was extended east to also cover Lake Randall.

The joint venture has now drilled 776 vertical air core holes for a total of over 40km — giving the pair quite the dataset to mull over.

It now has assays back for 743 of those holes, with the final of these results due in next month.

Then it gets really exciting…

With the data from the drilling in hand and further data from geophysical data, the joint venture will be in a position to start picking targets for deeper reverse circulation and/or diamond drilling.

Watch this space.

 

 

This story was developed in collaboration with Lefroy Exploration, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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