Lefroy Exploration (ASX:LEX) reports high grade gold intersections at Mt Martin
Lefroy Exploration has reported further high grade gold assay results from its recent reverse circulation drilling campaign at the Mt Martin Gold Deposit, located within the Location 45 freehold property in the Eastern Goldfields of Western Australia.
The results provide further information on resource growth potential at Mt Martin as the company progresses the Mt Martin Scoping Study.
Highlights
Significant high grade gold intersections at Mt Martin include 8m @ 3.93 g/t Au from 141m, including 3m @ 9.44 g/t Au, 9m @ 3.36 g/t Au from 94m, including 1m @ 9.88 g/t Au, and 6m @ 5.48 g/t Au from 69m, including 2m @ 12.8 g/t Au.
Several high grade intercepts sit outside the current 460,000 ounce Mineral Resource Estimate, with East Shear results validating down plunge continuity across an under drilled 1km strike length.
The Mt Martin Scoping Study remains on track for completion and delivery during the September quarter, while resource modelling is underway to update the high grade gold domain within the Burns mineral resource estimate.
The Mt Martin Gold Deposit currently contains a Mineral Resource Estimate of 9.1Mt @ 1.6 g/t Au for 460,000 ounces, comprising an Indicated Resource of 3.9Mt @ 1.60 g/t Au for 200,500 ounces and an Inferred Resource of 5.2Mt @ 1.6 g/t Au for 259,500 ounces.
The completed drilling program consisted of 5,046m of reverse circulation drilling across 37 drill holes, targeting resource growth potential along the Main, East and Adelaide Shear Zones.
The program was designed to test near surface growth opportunities and down plunge extensions where mineralisation remains open.
The drilling returned significant assay results from the northern flanks of the North Shaft, Main and East Shears, including areas on the margins of the current resource.
Results included LEFR1161, which returned 8m @ 3.93 g/t Au from 141m, including 3m @ 9.44 g/t Au, and LEFR1174, which returned 8m @ 1.95 g/t Au from 83m, including 2m @ 4.91 g/t Au.
The company identified the East Shear as one of the more significant resource growth opportunities at Mt Martin.
Recent RC drilling in the area was designed to test the margins of the current Mineral Resource Estimate and confirm grade continuity within high grade zones.
The East Shear results included LEFR1148, which returned 6m @ 5.48 g/t Au from 69m, including 2m @ 12.8 g/t Au, and LEFR1151, which returned 15m @ 1.29 g/t Au from 90m, including 3m @ 3.27 g/t Au, with the company confirming continuity of the high grade zones down plunge.
Lefroy Managing Director Graeme Gribbin said the drilling program was focused on assessing shallow, high grade resource growth potential along strike and down plunge.
“These significant assay results from Mt Martin demonstrate the resource growth potential at Mt Martin. When drilling commenced in April, our primary goal was to unlock shallow, high-grade resource growth potential along strike and down plunge.”
The latest drill results, together with updated geological interpretations, have identified additional high grade shoots that remain open down plunge.
The company noted that the East Shear corridor has more than 1km of strike length with sparse drilling between known corridors of mineralisation.
The company will integrate the new high grade East, North Shaft and Main Shear intercepts into the Mt Martin 3D geological wireframes and incorporate the Scoping Study findings to guide the next phase of step out drilling.
Lefroy is also progressing geological domaining within the Burns high grade zones to update resource modelling and revise the Burns high grade portion of the mineral resource estimate inside the September quarter.
With the Mt Martin Scoping Study progressing alongside resource work at Burns, Lefroy is continuing evaluation of Mt Martin and Burns as part of its broader portfolio of gold assets.
The latest drilling results provide further information on high grade gold mineralisation at Mt Martin as the company progresses technical studies and resource updates.