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Colin Hay

Lefroy Exploration (ASX:LEX) is set to recommence exploration activity with several gold targets ready for testing in April after an internal exploration project review.

The comprehensive target review has resulted in an expanded exploration portfolio with a significant pipeline of projects. Resource delineation and growth opportunities will now be tested, with the first exploration program commencing next month.

“Following the Company’s corporate restructure and cost reductions, we are now rapidly advancing towards unlocking value from our diverse portfolio of exploration projects around the extensive 635km2 Lefroy Project,” CEO, Graeme Gribbin, said.

“Our experienced team has worked methodically and systemically across the entire company of projects since the start of 2024 to identify the highest-ranking targets for testing. Anticipation is rising as we recommence our gold exploration program in April.

“Lucky Strike, which has an existing 80,000 ounce resource declared in 2020 and nearby Havelock represent stand-out near-surface exploration and resource extension opportunities, close to existing infrastructure.

“Additionally, coupled with exploration upside presented by our Location 45 property, numerous emerging prospective gold districts in the Western Lefroy JV and Lake Johnston, this represents a very exciting chapter for the company.”

Lefroy Exploration holds a commanding presence within the world-class Kalgoorlie and Kambalda gold and nickel mining districts.

The company controls a contiguous land package of 635km2 with a growing mineral resource inventory currently containing approximately 1.1 million ounces of gold; 58,000 tonnes of contained copper and 14,780 tonnes of contained nickel.

The company understands the pathway to exploration success and growth is through the development of a diversified portfolio of exploration targets.

This portfolio diversity ideally has a spread of projects from more advanced (resource-defined) through to emerging, early-stage, large scale, highly prospective, and potentially company defining discovery projects.

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