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.

Map Lake Lefroy and Lake Randall and the location of the key Zanex, LLT06 and LLT04 gold anomalies. Areas of planned drilling highlighted.

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.


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.