Lefroy boosts near-surface gold resource by 13% to 439Koz

Lefroy Exploration (ASX:LEX) has announced it’s boosted its near-surface gold resource (<200m) by 13% at Mt. Martin to 439Koz contained within 9,.25Mt of material.

The company’s 100% owned WA Goldfields project has been the subject of a growth push in recent history with a fresh set of 30 drill holes informing the new estimate.

Drillers targeted a main shear zone and the ‘east shear,’ highlighting the following assays on Thursday:

• 21.2m @ 4.32g/t gold from 30m depth
• 33m @ 3.82g/t gold from surface (“underground in main shear”)
• 3.7m @ 3.98g/t gold from 38m depth
• 35m @ 1.8g/t gold from 209m depth

Further resource growth is on the cards with geotechs already noting down “multiple corridors”, with the Main, East, and Adelaide Shear target areas of interest being looked at most closely.

The Mt Martin deposit lies within Lefroy’s larger 635sq.km Lefroy Gold Project (LGP), located on the Kalgoorlie terrane – a region with no shortage of infrastructure to support mining operations.

A number of geomag and downhole surveys were also carried out in arriving at the new near-surface resource posted on Thursday; growth in the inferred category was particularly strong.

“Coupled with our recent MRE update announcement where we demonstrated the shallow high-grade potential of the Burns Central Au deposit, the Company will now embark on exploration activities across the broader Lefroy Project to unlock further value in the region,” Lefroy CEO Graeme Gribbin said.

“We are most encouraged by the increase in our near-surface resource ounces at Mt Martin and believe that with future near surface programs targeting the Main, East and Adelaide Shear down-plunge to the north, there is a pathway to grow the resource even further.”

LEX last traded at 7.6cps.

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