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Lefroy Exploration Ltd.
Summary
| Project: | Lefroy | |
|---|---|---|
| Deposit: | Lucky Strike | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-6-2018: Lefroy Exploration Ltd. announces an Exploration/Drilling Update report for its Lucky Strike deposit at the Lefroy project. Drilling results incl. 4.7m @ 2.44g/t Au from 56.7m. The Board of Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Johnson (Internal) | |
| ABSTRACT: | The Board of Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to announce strong drilling results from the recent phase of diamond drilling (“DD”) at Lucky Strike. The results confirm the growing potential of the Mt Monger Fault trend within the non-joint venture Eastern Lefroy tenement package, located 50km south-east of Kalgoorlie, Western Australia (Figure3). The results are from a 3-hole diamond drill program (totalling 197.4m) which was designed to twin key high-grade intersections from recent RC drilling, including 5m @ 13.16g/t Au from 84m in hole LEFR070 and 6m @ 5.37g/t Au from LEFR056 (incl. 3m @ 10.3g/t Au from 80m) (refer to LEX “High grade gold intersected at Lucky Strike” 16th May 2018 ASX announcement). The new drilling has successfully intercepted visible gold associated with quartz veining (Figures1 & 2), interpreted to be related to the mineralising event, hosted in fresh rock. The drilling specifically targeted the high-grade structures within the magnetite rich lower BIF units previously found. All 3 holes comprised a pre-collar (to varying depths) followed by diamond drilling principally targeting mineralisation hosted within fresh rock (i.e. not regolith). The drilling has confirmed that the highest-grade gold intersections are associated with strong to intense sulphide alteration of primary magnetite and associated de-magnetisation of the BIF host rock. This alteration principally occurs proximal to cross cutting quartz veins similar to other well-documented BIF hosted deposits such as the nearby >400 koz Maxwell’s gold deposit currently being mined by Silver Lake Resources Ltd (ASX:SLR). Managing director, Wade Johnson commented; The drilling dramatically improves our understanding of the fundamental structural controls at Lucky Strike. This will enable us to strategically plan future drilling. The high-grade gold mineralisation found demonstrates the potential for further significant discovery along the Mt Monger Fault trend, which is currently vastly underexplored. | |
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