Special report: Junior explorer Lefroy Exploration (ASX:LEX) is close to defining a gold resource at its Lucky Strike prospect, with recent drilling confirming a shallow gold zone which will only get bigger from here.

Lucky Strike is within LEX’s the Eastern Lefroy tenement package — part of the greater Lefroy Gold Project (LGP) about 50km to the south east of Kalgoorlie.

The shallow gold mineralisation was first discovered during October drilling, with results of that campaign including 8m at 4.96g/t gold, just 27m from surface.

Lefroy is looking for the next big gold hit in some of Australia’s most prospective ground >>>

The most recent 10 hole, 996m drilling campaign hit a shallow gold zone in a banded iron formation (or “BIF” for short) unit, with top intersections including 4m at 5.33 grams per tonne of gold from 32m.

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Anything above 5 grams per tonne is considered high grade.

LEX has now found four mineralised BIF units – finely layered sedimentary rocks made of alternating quartz and iron oxide bands – in a 140m wide by 300m long area.

Plus, two deeper holes intersected gold in a new position that is open at depth and along strike.

LEX told investors more drilling will be scheduled in the March quarter 2019.

“These are exciting results achieved from a focused five-day drilling program,” LEX managing director Wade Johnson says.

“To date each drill program at Lucky Strike has located new mineralised BIF, advanced our geological model and expanded the gold mineralised system.

“We will press on with Lucky Strike early next year and believe we are not far from being able to delineate an inferred resource, especially in the oxide zone.”

 

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