Special Report: Drilling at Lefroy Exploration’s Lucky Strike prospect continues to prove the gold explorer is onto something big.

A recent six-hole, 1182m drilling program was designed to validate and extend the gold mineralisation intersected in earlier drill holes, and it has done exactly that.

Drilling has extended the strike of the deeply oxidised banded iron formation (BIF)-hosted gold mineralisation.

And Lefroy (ASX:LEX)said all the signs pointed to it being a major structural trend that could be traced over a 3km strike length to the southeast.

Significant hits were 21m at 2.93 grams per tonne (g/t) gold from 139m, including 8m at 5.12g/t from 143m; 6m at 2.85g/t from 98m, including 1m at 10.7g/t from 99m; and 4m at 1.17g/t from 109m.

Anything above 5g/t is generally considered high-grade, though at the current strong gold price even 2g/t has the potential to be very profitable for Aussie miners.

Significant gold intersections from previous wide spaced aircore drilling along the trend suggest Lucky Strike is part of a larger gold system.

And that system has seen only limited deep drilling, providing the potential for Lefroy to make further discoveries.

Close to big gold mines

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.


Plenty of processing options

Lucky Strike is part of the Eastern Lefroy project and lies 35km northeast of much larger gold producer Gold Fields’ St Ives processing plant and just 5km southwest of Silver Lake’s Randalls processing plant.

Heavyweight Gold Fields is also Lefroy’s joint venture partner on the Western Lefroy project, which sits right next to the 15moz St Ives gold camp near Kalgoorlie.

Lefroy is now planning the next stage of drilling to test the new big structural trend.

The program is anticipated to start in August and will involve multiple 80m step out drill sections to the southeast at Lucky Strike and initial deep reverse circulation drill evaluation of the aircore anomalies at Lucky Strike Extended and Lucky Hit.




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.