- Lefroy Exploration (LEX) has entered back-to-back trading halts as it gears up for an upcoming capital raise
- The company will remain in the halts until October 26 or when an announcement is made, whichever occurs first
- Just last week, Lefroy received initial results at Lake Lefroy from joint venture partner Gold Fields
- Gold Fields began drilling at Lake Lefroy in July with aims to evaluate six gold anomalies and to follow-up on aircore (AC) drilling
- Results have so far peaked at 18.55g/t gold
- Shares in Lefroy last traded for 24.5 cents on October 19
Lefroy Exploration (LEX) has entered back-to-back trading halts as it gears up for an upcoming capital raise.
The company will remain in the halts until October 26 or when an announcement is made, whichever occurs first.
Lefroy is yet to disclose how much it intends to raise or what it will use the funds for.
Just last week, Lefroy received initial drilling results from a campaign at Lake Lefroy from joint venture partner Gold Fields.
Gold Fields began drilling at Lake Lefroy in July, aiming to evaluate six gold anomalies and to follow-up on aircore (AC) drilling that began in January 2019.
Of the 21 completed holes, the company has so far received results for 10, with the remaining 11 pending.
Best results received so far include nine metres at 3.58g/t gold from 96 metres, including one metre at 18.55g/t gold from 97 metres.
At this stage, work is ongoing and is expected to be completed in December.
Shares in Lefroy last traded for 24.5 cents on October 19.