The Lefroy Gold Project is LEX’s flagship project where the Company has secured a commanding land package that comes within 50km of Kalgoorlie and is adjacent to the multi-million ounce St Ives gold camp. The Project is located in the well-endowed Kalgoorlie Terrane and bracketed by the regional gold mineralised Boulder Lefroy and Mount Monger Faults. Other operating gold mines nearby include Daisy Milano, and importantly the Salt Creek gold plant operated by Silver Lake Resources (ASX: SLR) which could allow for the fast-tracked commercialisation of smaller discoveries at the Lefroy Project.

Much of the project area is covered by the Lefroy and Randall salt lake systems. Past challenges for the drilling of targets identified within salt lake systems have been significantly reduced through the development, availability and affordability of drill rigs and access vehicles that can operate successfully all year round in salt lake environments.

Importantly the LEX land holding is a 100% owned and contiguous tenement package, free of encumbrances such as third party royalties and interests, which has allowed exploration to commence immediately.

 Lefroy Project Location and Nearby Gold Deposits

Until Lefroy consolidated of a number of exploration portfolio’s in 2016, the entire area had never come under a single umbrella to be systematically explored as one major land package. The regional consolidation has successfully placed several gold anomalies from previous drilling in the context of the major regional structures and a single cohesive geological model.

To successfully explore in this area one of the major exploration tools required is the interpretation of geophysical data which allows the geologist to see through the cover to identify geological trends and define major structures. LEX has been able to acquire and merge detailed aeromagnetic and gravity datasets. This is the first time the various detailed ground gravity surveys in this area have been compiled and placed in one data set that can be used to assist in targeting in a regional sense. Lefroy has successfully extended the ground gravity survey over areas that were not covered, as well as infill survey where the current spacing station was considered too broad.

Lefroy’s initial compilation of historical exploration data (drilling, surface geochemistry, geology and geophysics) has successfully identified five subparallel gold bearing structural trends across the package, each with a number of drill-ready prospects. These prospects are currently being drill tested for anomalous gold mineralisation. The Company’s continual compilation and appraisal of historical exploration data complements concurrent drilling programs by advancing historical anomalies into Lefroy’s prospect pipeline.