Special Report: While most explorers are gearing down for Christmas, Lefroy is not wasting anytime in drilling its Mulga 3 target near the Salt Creek mine

Lefroy Exploration (ASX:LEX) has enjoyed a string of successes in 2019 with high-grade gold hits at the aptly named Lucky Strike prospect near Kalgoorlie and drilling striking visible gold at Hang Glider Hill earlier this month.

But the company is not content to rest on its laurels and has now kicked off a shallow aircore drilling program at the newly defined geophysical target, Mulga 3, about 1km west of the Salt Creek mine and close to its Lucky Strike and Red Dale prospects.

Mulga 3 was identified from a detailed gravity survey, which highlighted three linear, parallel features that were interpreted to represent structures immediately west of Salt Creek.

Of these, Mulga 3 was interpreted to represent a faulted extension of a similar linear gravity feature along where the Salt Creek mine is located.

The prospect has not been previously evaluated by drilling.

Lefroy’s 40-hole program is expected to be completed by the middle of this month with results anticipated in January 2020.

“What an exciting way to end a successful 2019 exploration field campaign with a short, focused air core drilling program having a crack at a conceptual target only 1km from a 400,000-ounce gold deposit,” managing director Wade Johnson told Stockhead.

“It is important to have a mix of targets in the exploration portfolio and to evaluate these conceptual ones like Mulga 3 efficiently and see what it can deliver for Xmas.”

Aircore drilling at Mulga 3 Pic: Lefroy Exploration

Silver Lake Resources’ (ASX:SLR) now closed Salt Creek mine was discovered by Integra Mining in 2007. An open pit mine was developed in 2012 with a resource of 4.63 million tonnes grading 2.71 grams per tonne (g/t), or 403,800 ounces of contained gold.

Salt Creek includes Silver Lake’s Randalls processing operation that is immediately south of Lefroy’s Red Dale prospect.

Now read:
Lefroy hits visible gold in maiden drilling at Hang Glider Hill
Lefroy could be mining its shallow, high-grade Lucky Strike discovery before the end of 2020

 

 

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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