Lefroy and Gold Fields are dialling in on some big targets near Kalgoorlie
Link copied to
Special Report: Lefroy Exploration joint venture partner Gold Fields has launched an aircore drilling program over the Western Lefroy tenements ahead of some deeper, more targeted drill testing.
Kalgoorlie explorer LEX (ASX:LEX) is dialling in a number of big gold targets at its wholly owned Eastern Lefroy gold project.
Major targets here include an ancient gold-bearing river at Red Dale, the advanced Lucky Strike prospect, and an evolving high-grade discovery at Hang Glider Hill.
But there’s also the adjacent Western Lefroy, where gold miner Gold Fields (NYSE:GFI) can earn a 70 per cent stake from Lefroy by spending up to $25m on exploration over six years commencing June 2018.
Gold Fields has just kicked off a supplementary aircore drilling program over Lake Lefroy and the adjacent Lake Randall, designed to dial in on some potential gold deposits in the deeper bedrock.
A 776-hole, 40,421m foundation aircore drilling program by Gold Fields in 2019 generated multiple new gold anomalies in Lake Lefroy and expanded the footprint of some anomalies already identified by Lefroy.
A new anomaly in Lake Lefroy is known as Eastern Shoreline, a linear gold trend over 5km long.
Early stage drilling completed in Lake Randall, 5km to the east, also generated a significant gold anomaly near the 2.3km by 400m gold-in-bedrock Neon anomaly, first defined by Western Mining Corporation in the 90s.
The results of this current drilling will identify targets for follow-up deeper drilling.
The 57 hole, 4000m drilling is expected to be completed in April, with final results available in May 2020.