Lefroy takes to the deeps as it seeks Burns knowledge
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Lefroy has embarked on a quest to uncover the deepest secrets of its promising Burns gold-copper system, where shallow aircore drilling has defined a strike of 900m to date.
Burns is a new and unique style of an intrusion-related gold-copper mineral system in Western Australia’s Eastern Goldfields region near Kalgoorlie, which features a distinctive annular aeromagnetic and gravity geophysical signature with three parallel linear magnetic features – Lucky Strike, Havelock and Erinmore – which appear to radiate out to the north.
Lefroy Exploration’s (ASX:LEX) previous efforts to unlock its mysteries have been enough to warrant a $560,000 R&D tax refund from the Federal Government for the 2020-21 tax year and it is now taking the next step towards understanding the highly-prospective system.
Drilling is now underway on a 1,200m diamond hole co-funded by the Western Australian government’s Exploration Incentive Scheme which seeks to evaluate the mineralised diorite porphyry host rock to 1,000m vertical depth from surface.
This is aimed at expanding the vertical scale of mineralisation discovered to date, provide geological and geochemical information to support ongoing research, and further demonstrate that Burns is a new, large gold-copper intrusion hosted mineral system.
“The long wait for the diamond drill rig is over and the +1000m deep drill hole is finally underway at our high priority Burns gold copper prospect,” managing director Wade Johnson said.
“The LEX team are excited to be back out drilling at Burns this time to explore the vertical extent of this unusual intrusion related gold-copper system to demonstrate the scale and to realise its full potential.”
Highlighting the company’s belief in the prospectivity of Burns, the deep diamond well will be followed by another diamond hole that will test an interpreted shallowly plunging high-grade gold-copper zone within the broader gold-copper-silver-molybdenum porphyry-hosted mineral system at Burns though this will be drilled to a depth of just 450m.
This zone was previously defined by holes LEFR260 and 320 which intersected 38m grading 7.63 grams per tonne (g/t) gold and 0.56% copper from 134m and 64m at 2.83g/t gold, 0.34% copper, 1.25g/t silver and 12.6 parts per million molybdenum respectively.
Lefroy expects to complete the two-hole program in August with initial assays expected from September and final assays along with a full assessment in October.
Planning is also well advanced for a reverse circulation drill program that will test the system to a depth of 200m from surface and over 700m of strike.
The program will be both land-based and on Lake Randall with a nominal 40m by 40m grid pattern that will be combined with existing drill data to form the basis for a maiden gold-copper resource estimate.
A specialised lake RC drill rig has been secured and scheduled to commence in early August with the company aiming to define the resource for the shallow part of Burns in the December 2022 quarter.
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.