High Grade Shallow Resource to Unlock Value at Burns Central

Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX:LEX) is pleased to provide an update to the Resource Estimate (MRE) for the Burns Central prospect located in the Eastern Goldfields of Western Australia. The update is based on the original MRE statement (refer ASX release 4 May 2023) which was prepared by consultant, Mr Chris Grove, of Measured Group Pty Ltd in accordance with JORC 2012 guidelines.

HIGHLIGHTS

• A significant shallow high-grade Au zone has been delineated within the existing Burns Central Mineral Resource Estimate (MRE).
• The Burns high grade zone totals 4.22Mt @ 1.18 g/t Au for 15G,285 contained ounces (applying a 0.5g/t Au cut-off grade) which includes:
  • 46,538 oz of gold (Au) in oxide,
  • 8,154 oz gold (Au) in transitional; and
  • 104,5G3 oz gold (Au) in fresh rock
• Burns Central displays a consistent high-grade corridor extending over 650m strike length, and open to the northeast and southwest, with significant previously reported intersections including:
  • 61m@ 2.G6 g/t Au (from 120m), including 37m @ 4.23 g/t Au (from 126m) in LEFR320
  • 3Gm @ 3.87 g/t Au (from 26m) in LRR003; and
  • 30m @ 2.43 g/t Au (from 27m), including 17m @ 3.G g/t (from 38m) in LRR004
• The MRE is drilled to G8% Indicated status and 2% Inferred for gold, with 34% of the gold resource contained within oxide and transitional material.
• The deposit is contained within a well-defined structural control with additional targets located along-strike.
• The Company is in the final stages of preparing an MRE update for the Mt Martin deposit located elsewhere on its tenure.

LEFROY CEO GRAEME GRIBBIN, COMMENTED:

“We are pleased to be revisiting the deposits across our tenure to update the diverse Lefroy Resource base and unlock the value of our landholding. “The reporting of the Company’s maiden MRE at Burns Central in May 2023 demonstrated the expansive size and potential of the Au and Cu system at Burns. Applying a higher grade (0.5g/t) Au cut-off to the existing resource, we have now been able to demonstrate the significance high-grade gold potential of the Burns Central resource, with this higher-grading zone containing 15S,000 near surface ounces grading 1.18g/t Au.

“The definition of this structurally controlled, shallow, high-grade core at Burns Central represents a remarkable opportunity for the Company to explore for and grow its existing portfolio of shallow mineral resources, currently totaling 1.1Million ounces.”

AN EVOLVING BURNS RESOURCE STORY

The Burns Central Deposit forms part of the Burns Gold-Copper Project (‘Burns’ or ‘Project’), 70km southeast of Kalgoorlie in the highly prospective Kalgoorlie Terrane of Western Australia. Burns is located within the broader Lefroy Gold Project, proximal to the St Ives gold camp (Gold Fields Ltd JSE: GFI) and the Daisy Milano and Mt Monger gold operations (Red 5 Limited ASX: RED).

The previously reported mineral resource estimate (MRE) at Burns Central (refer ASX release 4 May 2024) consisted of two volumes: "Min Enriched" for near-surface oxide and saprock enrichment, and "Min" for fresh rock sulphide mineralisation. Applying a nominal 0.1 cut-off value for each metal, this reported a total MRE of 42.95 million tonnes grading 0.36g/t Au and 0.14 % Cu.

REALISING VALUE WITH BURNS HIGH-GRADE CORRIDOR

In keeping with Lefroy’s focus to progress and commercialise the Company’s portfolio of shallow advanced gold deposits (refer ASX release 27 March 2024) an internal review of the high-grade potential of the Burns Central resource has now been completed.

The Company is pleased to report that a significant high-grade zone has been delineated within the existing Burns Central MRE. Reporting only blocks within 200m of surface and applying a cut-off grade of 0.5 g/t Au, this zone reports 4.22Mt @ 1.18 g/t Au for 15G,285 contained ounces (Table 1), reported across oxide, transitional and fresh mineralisation categories.

Significantly, this high-grade zone is reported at over 98% Indicated resource classification, with combined oxide and transitional material representing over 34% of the total resource.

Furthermore, the contained gold ounces (159,285 oz) within this recently calculated high grading central core represents 32% of the entire gold ounces (497,472 oz) reported in the May 2023 original MRE. Expressed differently, 32% of the contained gold ounces at Burns Central are contained within 10% of the defined tonnes (159,258 oz within 4.2Mt versus 497,472 oz within 42.95Mt).

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