Lefroy Exploration Enhances High-Grade Gold Growth Case for Mt Martin Deposit

Lefroy Exploration (ASX: LEX) has returned high-grade gold intersections from Mt Martin that extend beyond the deposit’s current 460,000-ounce mineral resource estimate (MRE) and strengthen the case for further resource growth.

The results include 8 metres at 3.93 grams per tonne gold from 141m including 3m at 9.44g/t, and 6m at 5.48g/t from 69m including 2m at 12.8g/t.

Drilling also confirmed continuity along the East Shear, where high-grade mineralisation remains open down plunge across an under-drilled strike length of more than 1 kilometre.

The results will feed into geological modelling and future targeting while Lefroy progresses the Mt Martin scoping study for completion during the September quarter.

Mt Martin contains an MRE of 9.1 million tonnes at 1.6g/t gold for 460,000oz, comprising an Indicated resource of 3.9Mt for 200,500oz and an Inferred resource of 5.2Mt for 259,500oz.

High-Grade Zones Extend Resource

The reverse circulation program comprised 37 drill holes for 5,046m across the Main, East, and Adelaide Shear corridors, targeting both near-surface opportunities and down-plunge extensions.

Several of the high-grade results sit outside the existing MRE, including intersections associated with the northern flanks of the North Shaft, Main, and East Shears.

Lefroy identified the East Shear as a major growth opportunity because historical drilling and mining were concentrated more heavily on the North Shaft, West, and Main Shear zones.

Recent drilling confirmed down-plunge continuity within high-grade zones hosted by a shear dipping about 35 degrees west, while updated interpretations identified additional shoots that remain open.

The sparsely drilled corridor extends for more than 1km and offers scope for further high-grade discoveries between known zones of mineralisation.

Studies Guide Portfolio Growth

The Measured Group will advance pit optimisation engineering, processing plant layouts, infrastructure logistics and economic assessments as Lefroy integrates the new East, North Shaft, and Main Shear intersections into three-dimensional geological wireframes while using the scoping study findings to guide its next phase of step-out drilling.

Managing director Graeme Gribbin said the assay results demonstrate Mt Martin’s resource growth potential.

“Importantly, they provide us with a new platform for understanding the best corridors for resource growth [and] complement our broader strategy of expanding our 1Moz gold resource base,” he said.

In parallel, geological domaining is underway at Burns to update the high-grade portion of its resource during the September quarter, supporting Lefroy’s broader strategy across its advanced gold portfolio.

“With momentum building at Mt Martin, coupled with upside potential from our soon-to-be-updated high-grade domains within the Burns MRE, Lefroy is uniquely positioned to deliver a high-value growth profile for shareholders,” Mr Gribbin added.