Special Report: Lefroy’s partner Gold Fields has confirmed multiple gold anomalies at their Western Lefroy joint venture near Kalgoorlie.

Aircore drilling carried out in April extended and enhanced the targets, with notable results of 5m at 1.85 grams per tonne (g/t) gold from a depth of 84m, 2m at 1.86g/t gold from 58m and 2m at 1.45g/t gold from 16m.

Lefroy Exploration (ASX:LEX) says the results support the large Eastern Shoreline Trend that now stretches over 7km of strike and enhances the LLT08 anomaly that has a 1.5km strike adjacent to the interpreted regional Woolibar Fault.

The results provide encouragement and information to guide reverse circulation (RC) drilling that is scheduled to begin in July to evaluate multiple targets, Lefroy says.

RC drilling will provide a deeper test of the regolith gold systems defined by the shallow aircore drilling by penetrating into fresh rock to search for the primary source of mineralisation.

The aircore results also provide support for four deep diamond drill holes covering 1,600m along the Eastern Shoreline Trend. The drilling, which was co-funded by the Western Australian Government’s Exploration Incentive Scheme, is expected to be completed by December 2020.

Drilling plan highlighting recent and prior drill holes completed in Lake Lefroy key gold prospects identified Pic: Supplied

Gold Fields has now completed the $4m minimum exploration spend and is required to fund a further $6m to earn an initial 51 per cent interest in the JV by June 2021.

It can earn a 70 per cent stake by spending up to $25m on exploration over six years from the execution of the JV in mid-2018.

“We are highly encouraged by the recent air core drilling results from holes that are 200m apart that have reinforced and extended multiple large regolith gold anomalies in Lake Lefroy,” managing director Wade Johnson said.

“We keenly await the commencement of the next drilling campaigns by Gold Fields that will provide a deeper evaluation of the anomalies.”

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.

These include the Eastern Shoreline Trend, Zane, LLT04 and LLT06 prospects.

 

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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