The Eastern Lefroy Gold Project is Lefroy’s flagship project where the Company has secured a commanding 266km2 land package that comes within 50km south east of Kalgoorlie. The Project is located in the well-endowed Kalgoorlie Terrane and bracketed by the regional gold mineralised Boulder Lefroy and Mount Monger Faults. Nearby operating gold mines include Gold Field’s St Ives gold camp, Daisy Milano, and importantly the Randalls Operation operated by Silver Lake Resources (ASX: SLR). The presence of multiple operating mills nearby could allow for any smaller discoveries to be quickly and cheaply commercialised.
Importantly, the LEX land holding is a 100% owned and contiguous tenement package, free of encumbrances such as 3rd party royalties and interests, which has allowed for a seamless exploration approach.
LEX has had exploration success at the project leading to the identification of a number of priority prospects at Burns, Lucky Strike (80,000 oz gold), Red Dale (25,000 oz gold), Havelock, Coogee South and Hang Glider Hill.
In January, 2021, LEX commenced its first round of RC and Diamond drilling at the Burns copper-gold prospect. The Burns prospect lies on the eastern margin of a large felsic intrusion, which is represented by a distinct aeromagnetic and gravity geophysical signature. Drilling has identified both broad and high-grade gold-copper-silver-molybdenum mineralisation, hosted within a newly discovered hematite-pyrite-chalcopyrite-magnetite altered porphyry with best intercepts including 38m at 7.63 g/t Au and 0.56% Cu from 134m in hole LEFR260. This porphyry, termed the Eastern Porphyry, is open to the north and south along similar geophysical features.
The copper and gold mineralisation hosted by both the diorite porphyry, basalt, and massive magnetite is considered by the Company to be a new style of mineralisation in the area, with similarities to an intrusion related system.
The Coogee South prospect was nominated as the primary target for LEX at the time of its IPO prospectus in October 2016. The prospect adjoins and contains the immediate southern strike extension of the shallow, high-grade Coogee open pit (20,000 ounces at 5 g/t Au), which was mined in 2014, and has a geological/geophysical setting with similarities to the Burns Cu-Au prospect, which is 14km to the south-east of Coogee South. A limited phase of RC drilling in 2006 recorded a best intersection of 17m at 1.7 g/t Au from 99 m in CSRC03. This target remains open down dip and along strike. The existing drilling results are supported by gold anomalies defined by rotary air blast (RAB) drilling completed in the early 1990s that extend for approximately 1500m to the south of the northern tenement boundary.
The Company believes that the Coogee deposit is part of a larger gold copper system that surrounds a buried felsic intrusion with characteristics like those observed at Burns.
Lucky Strike was identified through systematic air core drilling that commenced in December, 2016, that defined an anomalous gold trend over a 3000m strike length sub parallel with the Mt Monger Fault. Additional Reverse Circulation (RC) and Diamond drilling has identified high grade gold mineralisation in a Banded Iron Formation (BIF) unit over a 300m strike length and includes a resource of nearly 80,000 ounces. Subsequent exploration has identified the Havelock and Erinmore BIF trends which run parallel to Lucky Strike and are also prospective for gold mineralisation.