Lefroy’s Coogee South prospect could be ‘part of a larger gold-copper system’
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Hardworking explorer Lefroy kicks off maiden drilling at the ‘Coogee South’ gold-copper prospect, which shows early-stage similarities to the nearby ‘Burns’ discovery.
One of these is Coogee South, immediately along strike to the south of the high-grade (+5g/t gold) Coogee open pit successfully mined by Ramelius Resources (ASX:RMS) in 2014.
An early stage 150-hole aircore drilling program is underway to evaluate a priority target area immediately along strike to the south of the open pit, where a limited phase of RC drilling in 2006 recorded a best intersection of 17m at 1.67g/t Au from 99m.
This target remains open down dip and along strike, LEX says.
Existing drilling results are supported by gold anomalies defined by rotary air blast (RAB) drilling completed in the early 1990s.
Given that this RAB drilling was shallow and considered by the company to be only partially effective, this maiden exploration program underway at Coogee South will evaluate the mineralised trend with deeper penetrating aircore hammer drilling.
Bedrock targets generated from this phase of drilling will be tested by RC drill follow-up, LEX says.
RC drilling is also planned to follow-up and step out from the 2006 RC intersection of 17m at 1.67g/t gold.
LEX believes that the Coogee deposit is part of a larger gold-copper system that surrounds a buried felsic intrusion with characteristics like that observed at Burns.
Further evidence of this is the discovery of a new occurrence of gold and copper mineralisation by neighbour Victory Mines (ASX:VIC) in a recent 51-hole reverse circulation (RC) drill program north of the Coogee open pit.
“While we wait on assay results from the diamond and RC drill holes at Burns, the other drill-ready targets in our portfolio provide us with evaluation optionality,” LEX managing director Wade Johnson says.
“Coogee South was the priority target in our 2016 prospectus, so we are excited to have the maiden drilling program underway now.
“We are keen to enhance and capitalise on the RAB drilling done nearly 30 years ago and to outline gold anomalies for follow up RC drilling later this year.”
This article was developed in collaboration with Lefroy, 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.