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Lefroy Exploration Ltd.
Summary
| Project: | Lefroy | |
|---|---|---|
| Deposit: | Lucky Strike | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-12-2016: Lefroy Exploration Ltd. announces an Exploration/Drilling Update report for its Lucky Strike deposit at the Lefroy project. Drilling results incl. 8m @ 1.32ppm Au from 4m. Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pl | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wade Johnson, Geoff Pigott (Internal) | |
| ABSTRACT: | Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to announce the results from its inaugural exploration drilling program at the Lucky Strike Prospect in the Lefroy Gold Project, located approximately 50km to the south east of Kalgoorlie ( Figure1). The Lucky Strike Prospect, is located 2km to the north west of the Lucky Bay open pit gold mine operated by Silver Lake Resources Limited (Figure 2). The geological setting at Lucky Strike is that of an aeromagnetic high that is associated with a northwest-southeast trending sequence of carbonaceous shale, quartz porphyries and dolerite overlain by transported cover. No bedrock had been identified in the previous drilling that could account for the magnetic anomaly. The setting is considered not dissimilar to that which is host to the Lucky Bay deposit. (Gold production commenced at Lucky Bay in August 2015 based on a resource of 125,600t @ 5.4 g/t Au, for 21,600 oz). Previous (2010) wide spaced reconnaissance geochemical drilling by Integra Mining Limited at Lucky Strike intersected a highly anomalous intersection of 22m at 2.97g/t Au in air core hole SCA 794* within a subtle 100ppb Au gold trend defined from four drill traverses. The Company completed an early stage air core drill program at Lucky Strike in November to investigate and validate the intersection in SCA 794 (Figure 2). A program of 41 angled air core holes for 2777m were completed on eight traverses evaluating approximately 1100m of strike, that lies proximal to the interpreted position of the regional scale Mt Monger Fault The program was designed as first pass assessment with traverses at 80m or 160m apart, and holes on 40m or 80m centres. | |
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