Positive Exploration Results at Havelock and Lucky Strike

Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX:LEX) is pleased to announce the results from its Reverse Circulation (RC) drilling campaign targeting the Havelock and Lucky Strike gold targets, which commenced in April 2024.

HIGHLIGHTS

• Expansion of mineralised gold corridor at Havelock confirmed with significant assays returned including:
  • 5m @ 4.22 g/t Au from 145m, including 1m @ 12.6 g/t Au from 146m in LEFR404.
  • 7m @ 2.04 g/t Au from 37m, including 3m @ 4.3G g/t Au from 37m in LEFR406.
  • 6m @ 1.2G g/t Au from 60m, including 2m @ 3.20 g/t Au from 62m in LEFR418.
• The Havelock mineralisation corridor now defined along a strike extending greater than 750m and remains open to the northwest and southeast.
• Expanded mineralisation at Lucky Strike and southern Lucky Strike trend.
  • 5m @ 1.86 g/t Au from 157m, including 1m @ 5.7 g/t Au from 160m in LEFR411.
  • 10m @ 1.14 g/t Au from 82m, including 6m @ 1.65 g/t Au from 83m in LEFR414.
• The Company is planning a regional aircore drilling campaign across the broader Havelock – Lucky Strike District and will include drilling in the highly prospective Location 45, freehold ground that has not received systematic Au exploration since 2007.

LEFROY CEO GRAEME GRIBBIN COMMENTED:

“The results provide further confirmation of previous geological modelling conducted by Lefroy after drilling campaigns in 2020 and 2022 across the prospective Lucky Strike and Havelock corridors.

“We are extremely encouraged by the similarities to Lucky Strike interpreted at Havelock, which Lefroy views as an emerging gold corridor with mineralisation now identified along a 750m strike zone, with clear room to extend.

“Coupled with our extensive regional aircore drilling campaign planned for late June, we will continue to unlock the potential of the surrounding district to host numerous gold centres and expanding our existing gold resource base.”

LUCKY STRIKE - HAVELOCK DISTRICT

The Lucky Strike – Havelock District straddles the regionally significant Mt Monger Fault, which is a primary control to gold mineralisation in the broader Kalgoorlie terrain. The district extends from Lucky Strike west to Erinmore and incorporates significantly underexplored corridors which are prospective for banded iron formation (BIF) hosted gold mineralisation (Figure 1).

Historic exploration of the BIF trends was limited to broad-spaced, shallow aircore (AC) drilling and previous exploration activity by LEX included the following results.

At Havelock, highly anomalous intersections were recorded in 2022 (refer ASX announce release 7 July 2022):

• 3m @ 13.37 g/t Au from 118m in LEFR330.
• 13m @ 1.82 g/t Au from 76m in LEFR331, including 7m @ 2.69/t Au from 78m.
• 7m @ 1.48 g/t Au from 38m in LEFR326, including 2m @ 2.78/t Au from 41m.

At Lucky Strike, drilling activity last conducted by the Company (up to 2020) found several significant high- grade gold intersections within 150m (vertical depth) from surface (refer ASX announcement 26 February 2020) including:

• 8m @ 18.66 g/t Au from 145m, including 5m @ 28.1g/t Au from 145m in LEFR217.
• 22m @ 2.49 g/t Au from 63m in LEFR152.
• 3m @ 7.79 g/t Au from 130m in LEFR190.
• 11m @ 3.48 g/t Au from 170m in LEFR216.

LATEST DRILL PROGRAM SUMMARY

The recently completed RC drilling programs at Havelock and Lucky Strike were drilled to follow up significant anomalies identified by the Company from 2017 to 2022.

Sixteen holes were completed for 2,566m. Seven of the holes (for 898m) investigated the potential for continuation of gold mineralisation at Havelock, with the remaining holes targeting the Lucky Strike resource and surrounding anomalous earlier results along strike to the south (Figures 2 and 6).

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