Lefroy launches extensive gold exploration campaign
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Special Report: Lefroy has embarked on a major exploration campaign aimed at evaluating and progressing multiple gold targets at the Eastern Lefroy project.
Previous exploration by the company at Eastern Lefroy has identified the Lucky Strike, Hang Glider Hill and Lake Randall exploration hubs along the Mt Monger Fault that are ranked in accordance to the level of prior exploration activity.
Lefroy Exploration (ASX:LEX) is kicking off the campaign with a 15,000m aircore drilling program that will test along strike from the 79,600oz Lucky Strike gold resource and evaluate seven prioritised targets along the parallel Havelock and Erinmore banded iron formation (BIF) trends.
These target areas were developed from interpretation of aeromagnetic data that highlight discontinuities, flexures and/or breaks in the BIF that may host a style of mineralisation similar to that at Lucky Strike.
An ultra-detailed gravity survey has also begun along the Lucky Strike trend to support and further develop the evolving geological model.
The company has also started a heritage survey at the Burns copper-gold prospect ahead of a gravity survey that will commence in late November.
“Subsequent to our recent capital raising and SPP, we are now well funded to undertake exploration on a portfolio of early stage targets that we have generated at Eastern Lefroy over the past 12 months,” managing director Wade Johnson said.
“We are now in a strong position to evaluate these drill ready targets, with aircore drilling underway testing the Lucky Strike & Havelock BIF trends and three drill rigs secured to commence in early January 2021, two of which will head to our priority Burns gold copper target.
“This is an exciting period of exploration activity and growth for Lefroy, and complements the exploration by Gold Fields on the Western Lefroy JV out in Lake Lefroy.”
The Eastern Lefroy project is a semi-contiguous package of wholly-owned tenements that cover about 40km of strike along and straddling the regional scale Mt Monger Fault that is considered to be structurally analogous to other major regional faults in the Kalgoorlie region that are likely a primary control to gold mineralisation.
The Mt Monger Fault is considered by the company to be similarly prospective for a large gold deposit though it lacks the same level of exploration.
Lefroy’s initial exploration is aimed at evaluating multiple targets at the Lucky Strike, Lake Randall and Hang Glider Hill exploration hubs over the coming six months.
The advanced Lucky Strike hub is centred on the Lucky Strike deposit and includes the Red Dale, Havelock, Neon prospects along with the Lucky Strike trend.
Gold mineralisation at Lucky Strike is hosted within multiple northwest trended BIF units interbedded with shale.
The aircore drilling will evaluate five targets along the 9.5km Havelock BIF, two targets along the adjacent Erinmore BIF and a 1,000m corridor along the Lucky Strike BIF centred on the Lucky Hit prospect.
These targets were generated from interpretation of aeromagnetic data that highlights the iron rich magnetic BIF units.
Drilling is expected to be completed in December and any final results will be available in January 2021.
The Lake Randall exploration hub adjoins and is immediately southeast of the Lucky Strike BIF trends.
It includes a 20sqkm tenement that contains the Burns copper-gold prospect that was discovered by Octagonal Resources in 2011.
Burns represents a high priority target and complements the drilling activity underway at the nearby Lucky Strike and Havelock BIF targets.
Drill planning is in its early stages and will involve validation reverse circulation and diamond drilling to facilitate a resource estimate while deep diamond core holes will be drilled to assess the mineralised potential of the Burns intrusion.
Hang Glider Hill is located in the northwest region of the company’s project and close to the interpreted position of the regional scale Mt Monger Fault.
An auger drilling program completed in July 2020 identified five strong surface gold anomalies near to the Hang Glider Hill prospect that are considered to be highly encouraging and represent new high priority targets for drill testing.
Field reconnaissance of the anomalies has been completed and the next stage of exploration will involve an early stage wide-spaced aircore drilling program to prioritise targets for reverse circulation drill testing scheduled to commence in the third quarter of the 2021 financial year.
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.