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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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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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