Special Report: Lefroy Exploration will start a new round of drilling in August to test potential extensions to gold mineralisation at its Lucky Strike prospect.

Earlier this month Lefroy (ASX:LEX) revealed that prior drilling had extended the strike of the deeply oxidised banded iron formation (BIF)-hosted gold mineralisation.

That drilling returned significant oxide gold intersections that included 21m at 2.93 grams per tonne (g/t).

And all the signs point to it being a major structural trend that could be traced over a 3km strike length to the southeast, according to Lefroy.

Lefroy is now well advanced in its preparations for its new step-out drilling program to further evaluate the strike and plunge potential of the strong gold mineralisation.

“This phase of planned RC [reverse circulation] drilling along the Lucky Strike trend will be the first opportunity to meaningfully test the potential for further gold mineralisation along part of a 3km-long gold anomalous corridor identified by previous AC [aircore] drilling,” managing director Wade Johnson said.

“Integrating the results from the RC and AC drilling with the detailed gravity data has provided the team with confidence to evaluate the full strike length and we are eager to commence drilling in August.”

The program will involve multiple 80m step out drill sections to test an additional 280m of strike to the southeast at Lucky Strike, and initial deep RC drill evaluation of the air core anomalies at Lucky Strike Extended and Lucky Hit.

Gravity image and drilling along the Lucky Strike Trend. Warm colours depict dense or heavy rocks, cool colours depict less dense or light rocks. The linear gravity low (light blue) is interpreted to map deeper oxidation (hence soft/light rocks)
along a major structural corridor. (Supplied)

‘Lucky’ or just well located?

Gold mineralisation at Lucky Strike is hosted within multiple northwest trending BIF units.

The prospect lies about 5km along strike to the northwest of the high-grade Lucky Bay open pit that was mined by Silver Lake Resources (ASX:SLR) in 2015.

The gold mineralisation at Lucky Bay is also hosted within BIF.

The Lucky Strike Trend was identified as a prospective structural corridor, adjacent to the regional scale Mt Monger Fault.

The area near Lucky Strike is a high-priority exploration focus for Lefroy, with gold anomalies identified at Havelock, Neon and Erinmore – highlighting the district-scale gold prospectivity.

Lucky Strike is also located in the same region as the now well-known Beta Hunt mine, where millions of dollars’ worth of gold has been dug out of the ground.

 

 

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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