Lefroy Exploration Ltd

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).


Click here for the full ASX Release

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.

The Conversation (0)

B2Gold Announces Voting Results from its 2024 Annual General and Special Meeting

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the Meeting, representing 64.75% of the votes attached to all outstanding common shares.

Shareholders voted overwhelmingly in favour of all items of business before the Meeting. The eight director nominees listed in B2Gold's Management Information Circular (the "Circular") dated May 8, 2024, were elected as directors of B2Gold to hold office for the ensuing year or until their successors are elected or appointed. Detailed results of the vote for each director are set out below:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Heritage Mining

Heritage Mining Announces Closing of the First Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units

Heritage Mining Ltd. (CSE: HML) (“Heritage ” or the “Company ”) is pleased to announce that it has closed the first tranche (“Tranche One ”) of its non-brokered private placement financing previously announced on June 12, 2024 (the “Offering ”).

The Company raised an aggregate of $593,003.96 pursuant to Tranche One, of which $362,000.00 was raised on the issuance of 7,240,000 units (“Units ”) and $231,003.96 was raised on the issuance of 3,850,066 flow-through units (“FT Units ”). Each Unit was issued at a price per Unit of $0.05 and is comprised of one common share in the capital of the Company (“Common Share ”) and one Common Share purchase warrant entitling the holder to acquire one Common Share for a period of 36 months at an exercise price of $0.075 (“Warrant ”). Each FT Unit was issued at a price of $0.06 and is comprised of one Common Share which will qualify as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant.

Keep reading...Show less
Gold bars stacked in ascending order.

29 Percent of Central Banks Plan to Buy Gold in the Next Year

Central bank gold purchases have been an important story for the precious metal over the last several years, providing critical support as the gold price has soared to record levels.

The World Gold Council (WGC) released its latest survey on central bank gold reserves on Tuesday (June 18), indicating that 29 percent of central banks intend to increase their gold holdings over the next year.

The survey was conducted this year between February 19 and April 30, and includes responses from 70 central banks.

Keep reading...Show less

B2Gold Announces Sale of C$139 Million of Calibre Mining Shares

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces that it has sold an aggregate 79,000,000 common shares of Calibre Mining Corp. ("Calibre") in the ordinary course for investment purposes by way of a block trade (the "Transaction") for aggregate gross proceeds of C$139.04 million.

B2Gold will be filing an early warning report under National Instrument 62-103 in connection with the sale of the Calibre shares, a copy of which will be available under Calibre's profile on SEDAR+ at www.sedarplus.com .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

NOVAGOLD Welcomes Peter Adamek as New Chief Financial Officer

NOVAGOLD RESOURCES INC. ("NOVAGOLD" or the "Company") (NYSE American, TSX: NG) is pleased to announce the appointment of Peter Adamek as Vice President and Chief Financial Officer (CFO) of the Company effective July 15, 2024. The appointment of Mr. Adamek comes following the retirement of NOVAGOLD's long-serving CFO, David Ottewell, capping off a successful career in the mining sector. Mr. Ottewell will stay on until July 15, 2024 to ensure a seamless transition.

"On behalf of NOVAGOLD, I wish to extend my sincere gratitude to David for his loyalty to the Company over the last 12 years," said Greg Lang, President and Chief Executive Officer. "David has been instrumental in developing our finance strategy, building our finance team, and maintaining a strong balance sheet during his tenure — positioning the Company to continue to advance Donlin Gold up the value chain, while generating significant value for our stakeholders. David has been a valuable team member and a dear colleague over the years, and I thank him for his skillful leadership and remarkable contribution to our work. We wish him well in his retirement."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×