USD $4,127.96
Goldman Near-surface resources increase by 13% following updated Mineral Resource Estimate.
Lefroy Exploration Limited (ASX:LEX), has announced a significant update to its near-surface gold resources at the Mt Martin Project. The updated Mineral Resource Estimate (MRE) has outlined a resource of 9.25Mt @ 1.47g/t for 439,000 contained ounces, representing a 13% increase in near-surface ounces compared to the 2013 estimate.
This growth has been supported by results from 29 additional drill holes targeting both the Main Shear and East Shear at the project. Some of the most notable intersections include:
• 21.24m @ 4.32 g/t Au from 29.76m in the Main Shear (MUG49).
• 33.15m @ 3.82 g/t Au from 0m in the underground Main Shear (MUG33).
• 3.65m @ 7.21 g/t Au from 73.46m in the East Shear (MM75).
Lefroy CEO Graeme Gribbin said:
We are very pleased to provide an update on the Mt Martin resource, further demonstrating the Company’s strong base of near-surface gold resources within the Lefroy Project.
Located within the freehold property of Location 45, which affords a streamlined pathway to ultimate commercialization, the Mt Martin resource is well located within the Kalgoorlie-Kambalda district, strategically placed adjacent to existing haulage and gold processing infrastructure.
We are most encouraged by the increase in our near-surface resource ounces at Mt Martin and believe that with future near-surface programs targeting the Main, East, and Adelaide Shear down-plunge to the north, there is a pathway to grow the resource even further.
Coupled with our recent MRE update announcement where we demonstrated the shallow high-grade potential of the Burns Central Au deposit, the Company will now embark on exploration activities across the broader Lefroy Project to unlock further value in the region.
