Lefroy Exploration (ASX: LEX)
Provided an update to the Resource Estimate for the Burns Central prospect located in the Eastern Goldfields of Western Australia.
A significant shallow high-grade Au zone has been delineated within the existing Burns Central MRE, totalling 4.22Mt @ 1.18 g/t Au for 159,285 contained ounces which includes 46,538 oz of gold in oxide.
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Lefroy Exploration – Burns RC drilling, August 2022
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| Lefroy Exploration | ASX: LEX |
| Stage | Exploration |
| Metal | Gold |
| Market cap | A$16 m @ 7.8c |
| Location | Kalgoorlie, Western Australia |
| Website | www.lefroyex.com |
Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX:LEX) is pleased to provide an update to the Resource Estimate (MRE) for the Burns Central prospect located in the Eastern Goldfields of Western Australia. The update is based on the original MRE statement (refer ASX release 4 May 2023) which was prepared by consultant, Mr Chris Grove, of Measured Group Pty Ltd in accordance with JORC 2012 guidelines.
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HIGHLIGHTS
• A significant shallow high-grade Au zone has been delineated within the existing Burns Central Mineral Resource Estimate (MRE).
• The Burns high grade zone totals 4.22Mt @ 1.18 g/t Au for 159,285 contained ounces (applying a 0.5g/t Au cut-off grade) which includes:
o 46,538 oz of gold (Au) in oxide,
o 8,154 oz gold (Au) in transitional; and
o 104,593 oz gold (Au) in fresh rock
• Burns Central displays a consistent high-grade corridor extending over 650m strike length, and open to the northeast and southwest, with significant previously reported intersections including:
o 61m@ 2.96 g/t Au (from 120m), including 37m @ 4.23 g/t Au (from 126m) in LEFR320
o 39m @ 3.87 g/t Au (from 26m) in LRR003; and
o 30m @ 2.43 g/t Au (from 27m), including 17m @ 3.9 g/t (from 38m) in LRR004
• The MRE is drilled to 98% Indicated status and 2% Inferred for gold, with 34% of the gold resource contained within oxide and transitional material.
• The deposit is contained within a well-defined structural control with additional targets located along-strike.
• The Company is in the final stages of preparing an MRE update for the Mt Martin deposit located elsewhere on its tenure.
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LEFROY CEO GRAEME GRIBBIN, COMMENTED:
“We are pleased to be revisiting the deposits across our tenure to update the diverse Lefroy Resource base and unlock the value of our landholding.
“The reporting of the Company’s maiden MRE at Burns Central in May 2023 demonstrated the expansive size and potential of the Au and Cu system at Burns.
“Applying a higher grade (0.5g/t) Au cut-off to the existing resource, we have now been able to demonstrate the significance high-grade gold potential of the Burns Central resource, with this higher-grading zone containing 159,000 near surface ounces grading 1.18g/t Au.
“The definition of this structurally controlled, shallow, high-grade core at Burns Central represents a remarkable opportunity for the Company to explore for and grow its existing portfolio of shallow mineral resources, currently totaling 1.1 Million ounces.”
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Lefroy Exploration.
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