Lefroy Exploration (ASX:LEX) has commended resource expansion drilling at the Mt Martin Gold Mine in WA.
Lefroy’s drilling is the first new exploration at Mt Martin in over ten years. A total of 37 reverse circulation drill holes are planned in this program to evaluate multiple shallow west dipping gold mineralised structures over a 1000m strike length.
Limited shallow historic drilling indicates that there are multiple mineralised shear structures outside the open pit that remain largely untested, including the Adelaide Shear. This programme is designed to extend known mineralised shear zones outside the historic mine workings and deliver additional gold resources for open pit mine development planning.
This program is expected to be completed within three weeks with initial assay results anticipated to be returned in early December, and final results in January 2024.
Further extensional drilling is planned for Q1/24 and will aim to test multiple high grade gold shoots beneath the existing mine workings and untested extensions of the controlling shear structures along strike of the open pit.
Drillhole intercepts that will be followed up include 12m @ 6.65 g/t Au from 318m in drill hole AUZD003 and 33.15m @ 3.82g/t Au from 0m in underground drill hole MUG33, which indicate strong potential for the continuity of high-grade gold mineralisation beyond the existing pit shell.
The results from these initial drilling programmes are anticipated to significantly increase the existing resources in advance of initial mine optimisation studies at Mt Martin.
Mt Martin is a high priority target for the company with the opportunity for near term development of open pit mining upon completion of the drilling and optimisation studies of the resource. In parallel with this field work the Company is actively pursuing options for early commercialisation of Mt Martin resource.
We are thrilled to kick off our maiden resource drilling program at the Mt Martin Gold Mine located within Location 45 where we recently acquired the mineral rights over this freehold property,” Managing Director, Wade Johnson, said.
“Mt Martin contains a significant gold resource beneath the open pit that has remained undrilled for almost 10 years and that presents an opportunity for near term development. Our aim is to rapidly assess and grow the resource to pursue restart of the mine as the gold price continues to strengthen.
“We are fortunate to have several major gold mines neighbouring Mt Martin and believe this provides potential options to rapidly realise value from this asset, in addition we have developed a strong exploration framework to significantly grow the resource.”
Mt Martin lies on the western boundary of freehold title within Lefroy’s 635 sq. km greater Lefroy Project.
