Lefroy Exploration (ASX: LEX)
Reported on exploration activities across the Lefroy Project, including progress on key milestones for the Lucky Strike Gold Deposit and a planned drilling program at the Burns Central Gold Project.
The Lucky Strike Gold Deposit contains an MRE of 1.27Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93 g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97 g/t Au for 36,200 oz).
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Lefroy Exploration – Burns RC drilling – Courtesy of Lefroy Exploration
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| Lefroy Exploration | ASX: LEX | |
| Stage | Exploration | |
| Metal | Gold | |
| Market cap | A$37 m @ 15 cents | |
| Location | Kalgoorlie, Western Australia | |
| Website | www.lefroyex.com |
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Lefroy Exploration’s Lucky Strike Gold Deposit advances towards operations
Advanced drill planning targeting High-Grade Gold at Burns
Lefroy Exploration Limited (“Lefroy” or “the Company”) (ASX: LEX) is pleased to report on exploration activities across the Lefroy Project, including progress on key milestones for the Lucky Strike Gold Deposit and a planned drilling program at the Burns Central Gold Project.
The Lucky Strike Gold Deposit contains an MRE of 1.27Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93 g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97 g/t Au for 36,200 oz).
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HIGHLIGHTS
• Major Project Milestones achieved for Lucky Strike Gold Project, including
heritage surveys completed across the entire Mining project area, with all
planned work areas cleared.
• Finalised pit shell optimisation designs for Lucky Strike, with production
schedules and budgets set for finalisation in September
• Clearing permit application assessment over the Lucky Strike mining Lease
M25/366 in the final stages of review, on target for early December quarter
completion.
• Lucky Strike Gold Project on target to commence earthworks and pre-strip
within the first half of the December Quarter.
• Planning underway to progress the recently reviewed Burns Central Deposit
high-grade zone, where significant upside has been identified.
• Burns Central resource extension and metallurgical confirmation drilling
program to commence in October.
• LEX is fully funded, with multiple growth pathways identified as the Company
embarks on an ambitious, self-funded growth strategy throughout FY26.
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LEFROY CEO, GRAEME GRIBBIN, COMMENTED:
“As we diligently complete our last approvals and permitting prior to gold operations commencing at the Lucky Strike Project in the December quarter, we enter a new phase for the Company, whereby profit from Lucky Strike enables the Company to pursue a self-funded growth strategy.
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“With heritage clearance now received, environmental approval well advanced and final pit shell designs imminent, the Company remains focused on advancing its strategic goals of unlocking value for shareholders, with Lucky Strike providing the Company with that first pathway.
“We seek to realise further value for shareholders through generating cashflow from Lucky Strike and establishing a strong sustained cash balance, to allow the Company to unlock further value from its portfolio of advanced high-grade shallow gold resources projects (Burns and Mt Martin) and its highly prospective exploration targets”.
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To read the full news release, please click HERE
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To View Lefroy Exploration’s historical news, please click here
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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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