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Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to provide a progress report for the 1200m deep diamond drill hole underway to evaluate the Burns Au-Cu intrusion related mineral system at the Company’s wholly owned Eastern Lefroy Gold Project, located 70km southeast of Kalgoorlie.
- The Burns 1200m deep diamond hole, LEFD006, is on course & currently at 570m down-hole as of 29 July 2022
- LEFD006 has intersected multiple new & unexpected, mineralised diorite-porphyry intervals within altered high-Mg basalt. This includes:
- 400m-440m downhole of potassic-altered multi-phase diorite intrusions with chalcopyrite, pyrite + molybdenite
- These visual results support a broader western lateral extent to the Burns Au-Cu system, which indicates:
- the alteration zone is larger than previously interpreted with the contact of the main porphyry target-zone still yet to come (anticipated at ~650m down hole)
- Samples for the first 400m of diamond drilling have been submitted to the laboratory with preliminary results expected in October
- LEFD006 is part of a two-hole diamond program that is expected to conclude in August
Lefroy Exploration Managing Director Wade Johnson said “We are extremely pleased with the progress of hole LEFD006, and the geology observed to date. We believe it is indicative of a mineralised hydrothermal Archaean age porphyry system with an alteration footprint that is broader than we have anticipated. We are looking forward to the next +500m of drilling that is planned to intersect the main body of porphyry and we eagerly await the completion of the hole to confirm the geological and mineralisation model.”
Burns is a new and unique style of an intrusion-related gold (Au}- copper (Cu)-molybdenum (Mo) mineral system hosted by Archean age rocks in the Eastern Goldfields Province (EGP) of Western Australia, with understanding of the scale and genesis of the system to be advanced through this deep drilling program.
The gold, copper (and lesser molybdenum) mineralisation hosted by both the diorite porphyry, high- magnesium basalt and massive magnetite veins are considered by the Company to be a new and unique style of gold-copper mineralisation near Kalgoorlie and located within a land holding dominated by LEX.
Diamond Drill Program
The first hole, LEFD006 (Table 1), of the two-hole/1650m diamond drill program (Figure 1) commenced on 12 July (Refer LEX ASX release 12 July 2022).
LEFD006 is designed to evaluate the Burns Au-Cu mineralised diorite porphyry host rock to a target (vertical) depth of 1000m from surface with key aims to:
- Expand the continuity of the mineralisation discovered to date on a vertical scale
- Test the lateral extent of the system by 250m west of the main known mineralisation
- Provide geological and geochemical information to support ongoing research
- Demonstrate further that Burns is a new, large Au-Cu intrusion hosted mineral system
Co-funding for this hole is provided under the Exploration Incentive Scheme (EIS) managed by the Department of Mines, Industry Regulation and Safety (DMIRS) (refer LEX ASX release 29 October 2021).
As of July 29, LEFD006 has intersected a 570m interval of predominantly high-Mg basalt. The wide basalt interval is variably epidote-biotite-magnetite-gypsum altered (Figure 3 and 5) with localised hydrothermal breccia intervals and narrow cross-cutting porphyry intervals. Within this is a new, unexpected 40m interval of multi-phase diorite porphyry intrusives.
Mineralisation within the basalt interval includes fracture-fill native copper (Figure 4) from ~180m in fresh basalt down to a downhole depth of 440m with vein and/or fracture-fill chalcopyrite, pyrite, chalcocite and molybdenite (Table 2). This wide downhole interval of altered basalt has increased the lateral extent of the copper mineralised Western Basalt zone by approximately 250m. The alteration assemblage supports a large hydrothermal alteration cell consistent with an intrusion related system.
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This article includes content from Lefroy Exploration Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
