Special Report: Lefroy’s new drilling program at the greenfields Lucky Strike prospect will determine whether those recent thick, high grade gold hits are part of something much bigger.

Lucky Strike, just 50km from the gold mining hub of Kalgoorlie, is a whole new type of gold discovery.

Lefroy (ASX:LEX) keeps finding shallow, high grade gold in a deeply oxidized Banded Iron Formation (BIF) – a type of rock composed of narrow banded sediments which is generally associated with iron ore deposits, not gold.

This gravity image of Lucky Strike shows dense/heavy rocks (warm colours) and a line of less dense or oxidised rock (cool colours):


This oxidised BIF ‘corridor’ is where Lefroy is getting a number of consistently thick, high grade gold intersections. Which, as we said, is very unusual.

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In September, Lefroy announced a best-ever hit which confirms that gold extends a further 320m along strike (for a total 780m) and remains open.

This 18m intersection grading 6.57g/t gold from 68m in LEFR140 included a 4m chunk grading an incredible 21.9g/t.

Anything above 5g/t is generally considered high grade.

This intersection in LEFR140 supports the existence of a new south east plunging gold lode within the BIF.

Now, the crucial next stage of drilling has kicked off to evaluate the strike and plunge extensions of these recent multiple high-grade gold intersections.

The current 17 hole, 1800m drilling program aims to extend the mineralisation found in LEFR140 with closer focused drilling and evaluate new mineralisation found in drill hole LEFR152, which returned 22m at 2.49g/t gold from 63m.

Targets for focussed drilling are shown as red dashed boxes. (Supplied)

The program is expected to be completed by the end of October, with results anticipated in November.

This story was developed in collaboration with Lefroy, 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.