Special Report: The Lucky Strike project’s “district scale” gold potential is in the spotlight.

Lefroy Exploration (ASX:LEX) has justannounced one of the strongest intersections to date at Lucky Strike, opening up the trend to the South East part of the Lefroy Gold Project 50km from Kalgoorlie in WA.

Lucky Strike has continued to reveal new secrets – and get bigger — since the explorer hit first gold in 2017.

The Lucky Strike prospect lies just 5km northwest of the high-grade Lucky Bay open pit, mined by Silver Lake Resources (ASX:SLR) in 2015, and 5km southwest of the Randalls processing plant operated by Silver Lake.

The area near Lucky Strike is a high priority exploration focus for Lefroy, with gold anomalies identified from early stage air core drilling nearby at Havelock, Neon and Erinmore highlighting district-scale gold prospectivity.

In April, Lefroy completed a drilling program designed to test continuity of gold mineralisation at depth and along strike.

This program successfully intersected two new discoveries near to, and along strike of, prior hole LEFR120, which hit 9m grading 4.45 grams per tonne of gold from 110m in February.

The final hole intersected an exceptional gold mineralised zone of 17m at 3.58g/t gold from 129m, including 2m at 11.8g/t gold from 132m.

While anything over 5g/t is generally considered high-grade, even grades of 3g/t in Australia are considered good, especially at the current Aussie dollar gold price of over $1,820 an ounce.

Most importantly, this is one of the best gold intercepts at Lucky Strike and potentially shows the gold tenor strengthening towards an untested area to the south east.

> Learn more about Lefroy 

Lefroy Gold Project Lucky Strike Prospect (Supplied)

This area is now considered a high priority target zone for the next phase of drilling, Lefroy managing director Wade Johnson says.

“These intersections are an exciting new development at Lucky Strike and a credit to the persistence of the LEX team,” he says.

“The strong intersection in LEFR132 (above) and the sulphide altered basalt in the footwall, both occurring beneath a very deep weathering profile, with no surface expression, confirms confidence in our geological model and approach to targeting.

“We await the results from the diamond drilling but in the interim planning for further RC and diamond drilling is underway.”

 

This story was developed in collaboration with Lefroy Exploration, a Stockhead advertiser at the time of publishing.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice. If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.

 

Featured Companies

You might be interested in