Lefroy Exploration Limited (ASX: LEX)

Updated the market on the commencement of its maiden aircore drilling program at the recently acquired Coogee South property.

A maiden 150-hole aircore drill program is underway at the Coogee South prospect to
evaluate a 1500m long corridor defined from historical drilling directly along strike to the
south east of the Coogee open pit.

 

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Lefroy Exploration	ASX: LEX
Stage	Exploration
Metal	Gold
Market cap	A$55 m @ 46c
Location	Kalgoorlie, Western Australia

 

 

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Lefroy Exploration Coogee South – Aircore Drilling underway

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Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to update the market on the commencement of its maiden aircore drilling program at the recently acquired Coogee South property.

Coogee South is located within the wholly owned Eastern Lefroy tenement package, which is part of the wholly owned greater Lefroy Gold Project (LGP) located
50km southeast of Kalgoorlie.

• A maiden 150-hole aircore drill program is underway at the Coogee South prospect to
evaluate a 1500m long corridor defined from historical drilling directly along strike to the
south east of the Coogee open pit.
• The close-spaced aircore drill program is aimed at defining gold and copper anomalies
along the trend, which may represent the footprint of primary mineralisation to be
evaluated with later, deeper penetrating RC drilling.
• The aircore drilling is expected to take 3 weeks to complete, with initial assay results
expected in October 2021.
• The Coogee South prospect is wholly within the Eastern Lefroy Project, having been
excised from the Western Lefroy Farmin and Joint Venture with Gold Fields in June 2021.
• The Coogee South prospect was nominated as the primary target for Lefroy at the time of its IPO prospectus in October 2016.

 

The prospect:
• covers 7.8km2 of a granted exploration licence,
• adjoins and contains the immediate southern strike extension of the shallow,
high-grade Coogee Open pit (20koz @ 5gpt), which was mined in 2014, and
• has a geological/geophysical setting with similarities to Lefroy’s Burns Cu Au
prospect, which is 14 km to the south-east of Coogee South.
• A detailed aeromagnetic survey covering Coogee South was recently completed, with the final data currently being processed.

The new data will help refine the current drill program and facilitate the generation of additional targets in addition to the existing buried felsic intrusion, which has a similar magnetic response to that of the Burns prospect.

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Lefroy Exploration management comments;

“While we wait on assay results from the diamond and RC drill holes at Burns, the other drill-ready targets in our portfolio provide us with evaluation optionality.

“Coogee South was the priority target in our 2016 prospectus, so we are excited
to have the maiden drilling program underway now.

“We are keen to enhance and capitalise on the RAB drilling done nearly 30 years ago and to outline gold anomalies for follow up RC drilling later this year.”
Lefroy Exploration Managing Director, Wade Johnson

 

To read the article in full, please click HERE

 

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Disclosure

At the time of writing the author holds shares in Lefroy Exploration, bought in the market at the prevailing price on the day of purchase.

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