Lefroy unveils new gold-copper-cobalt zone within its deepest Burns hole
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Lefroy’s deepest hole to date at the Burns discovery in WA’s Eastern Goldfields has discovered a new zone of gold-copper-cobalt mineralisation.
The results come from a 61m interval that includes mineralised and altered diorite porphyry from a depth of 400m that returned results which correspond to stronger zones of visually identified magnetite and sulphide mineralisation.
This features a top intercept of 19.6m grading 0.33 grams per tonne (g/t) gold and 0.75% copper from a down-hole depth 428m that includes two intervals of 3.5m at 0.86g/t gold, 0.72% copper and 0.09% cobalt from 430m and 6.3m at 0.47g/t gold, 1.7% copper and 223 parts per million cobalt from 433.5m.
Importantly for Lefroy Exploration (ASX:LEX), the discovery of gold-copper-cobalt mineralisation associated with strong magnetite veining is an important new development for the strongly magnetite-altered Burns system and provides further support for the presence of a polymetallic intrusion related system.
Remaining assays from the hole LEFD006, which was co-funded by the Western Australian government under its Exploration Incentive Scheme and drilled to a total depth of 1,245m, are expected later this month.
Additionally, the initial elevated cobalt results have prompted the company to select magnetite-altered intervals from previous drillholes at Burns for cobalt analysis.
The four-hole deep diamond drill program at the Eastern Lefroy project was carried out to advance the company’s understanding of the scale and genesis of the intrusion-related system at Burns, which is considered to be a new and unique style of gold-copper mineralisation in the Eastern Goldfields.
While the program originally consisted of just two holes – LEFD006 and LEFD007 – a further two holes were drilled to test the priority Lovejoy prospect about 1.5km to the north of Burns.
Of the latter holes, LEFD008 intersected a thick, 145m interval of copper mineralisation from a down-hole depth of 130m.
Lovejoy is considered to be part of the larger Burns intrusive complex (BIC).
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.