Lefroy delivers a giant gold-copper quarter
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Lefroy’s focus on the Burns gold-copper prospect within its Eastern Lefroy subproject has paid off with exploration during the March quarter returning impressive results.
First off were the three holes drilled to evaluate the strike continuity of the high-grade copper gold mineralisation in the Burns discovery hole LEFR260 that had intersected 38m at 7.63g/t gold and 0.56% copper from 134m.
This program returned significant results with holes LEFR320 intersecting multiple intervals of mineralisation totalling 111m including 37m grading 4.23 grams per tonne (g/t) gold, 0.44% copper and 1.65g/t silver from a down-hole depth of 126m within a 64m zone at 2.83g/t gold, 0.34% copper and 1.25g/t silver from 118m.
This returned top intercepts of 16m at 3.79g/t gold from 20m including 8m at 7.31g/t gold from 20m and 24m at 2.86g/t gold from 16m including 16m at 4.04g/t gold from 20m about 140m from LEFR320.
Results from both the Burns follow-up and Lake Randall drilling support the company’s interpretation that Burns is host to a large gold-copper intrusion related mineral system which remains open at depth and along strike.
At the Western Lefroy joint venture with Gold Fields, which is earning up to 70% by spending $25m on exploration within six years of commencement on 7 June 2018, the operator is continuing with its 46,000m aircore program.
Separately, the company also secured a $0.8m farm-in and joint venture with SensOre Yilgarn Ventures at Marloo Dam.
Lefroy expects to drill a deep +1,000m diamond hole that is co-funded by the WA Government’s Exploration Incentive Scheme in May.
This hole will target the down-plunge position of the high-grade gold-copper zone in addition to the broader system.
Results from the March exploration activities will also guide a follow-up program of infill reverse circulation drilling that will support a resource estimate.
Aircore drilling at Lake Randall is also expected to recommence in May to further test a portfolio of targets over its eastern part.
Over at Western Lefroy, Gold Fields is planning diamond drilling to evaluate a target identified at Paddy’s Secret.
This article was developed in collaboration with Lefroy Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.