- Lefroy Exploration (LEX) has begun a major auger drilling program at the Lefroy Gold Project (LGP) in Western Australia
- Drilling will be undertaken over a contiguous tenement package that spans a length of 17 kilometres
- Further, this program will extend the previously completed drilling programs completed at the Hang Glider Hill prospect and the Lucky Strike gold deposit in 2018 and 2019
- This will provide Lefroy with surface geochemical coverage over a 25 kilometre length along the Mt Monger Fault
- This program will be completed in August and results are expected in September
- Lefroy has ended the day with no change and shares trading for 26 cents each
Lefroy Exploration (LEX) has begun a major auger drilling program at the Lefroy Gold Project (LGP) in Western Australia.
Drilling will be undertaken over a contiguous tenement package that spans a length of 17 kilometres and this program is aiming to assess the tenements.
Further, this program will extend the previously completed drilling programs completed at the Hang Glider Hill prospect and the Lucky Strike gold deposit in 2018 and 2019.
This will provide Lefroy with surface geochemical coverage over a 25 kilometre length along the Mt Monger Fault.
Lefroy believes that this fault covers a north-west trending belt and consists of banded iron formation (BIF) and basalt, similar to mineralisation at its Lucky Strike gold deposit.
Roughly 2500 samples will be collected and the program is expected to be completed this month with results expected in September.
“We are excited to be finally out auger drilling to cover such a large area along and straddling the regional Mt Monger Fault,” Managing Director Wade Johnson commented.
“We have developed a stronger understanding of the geology along the trend from our gold discoveries at Lucky Strike, Hang Glider Hill and Havelock and we now have an opportunity to add more discoveries to the portfolio from a first pass screen of the 71 square kilometre area using the auger drilling technique,” he added.
Lefroy has ended the day with no change and shares trading for 26 cents each in a $26.12 million market cap.