Lefroy Delivers More High-Grade Gold Results at Lucky Strike
Lefroy Exploration (ASX: LEX) continues to build momentum at its Lucky Strike Gold Deposit with a second batch of impressive grade control drilling results that reinforce the company's path toward production.
Recent Drilling Confirms Resource Quality and Upside Potential
The latest assay results from Lefroy's grade control drilling program have returned robust near-surface gold intersections that validate the company's confidence in both the resource model and geological interpretation at Lucky Strike. These Lefroy Exploration gold drilling results demonstrate the project's continued potential in a region known for significant discoveries.
Standout intersections from this second tranche of drilling include:
- 14m @ 2.42 g/t Au from 28m (LEFR652), including 1m @ 7.74 g/t Au
- 7m @ 4.55 g/t Au from 22m (LEFR701), including 1m @ 25.4 g/t Au
- 4m @ 7.95 g/t Au from 20m (LEFR689), including 2m @ 13.1 g/t Au
- 10m @ 2.89 g/t Au from 17m (LEFR633), including 1m @ 8.22 g/t Au
- 8m @ 3.47 g/t Au from 46m (LEFR651), including 1m @ 18.3 g/t Au
These results are particularly encouraging as they demonstrate consistent, predictable mineralisation across the northern section of the proposed pit design, with several high-grade zones identified at shallow depths.
"It is pleasing to see that these new assay results continue to illustrate the robust, consistent and predictable nature of mineralisation at Lucky Strike, with results from this recent tranche of drilling confirming our resource grade estimates." – Graeme Gribbin, Lefroy CEO
Understanding Folded Iron Formation Mineralisation
Lucky Strike's gold mineralisation is preferentially hosted within a deformed sedimentary iron formation (SIF) within a package of turbiditic shales. This geological setting is particularly favourable for gold deposition, as the magnetite-rich SIF acts as a chemical trap for gold-bearing fluids.
The deposit displays tight, almost isoclinal fold geometries that dip approximately 70 degrees to the southwest in the central zone. These fold hinges plunge approximately 30 degrees toward the southeast, creating multiple stacked mineralised horizons that enhance the deposit's economic potential.
This style of mineralisation is well-understood in the Eastern Goldfields region, with the iron formation providing an excellent host rock due to its reactive chemistry and brittle fracturing properties that create pathways for mineralising fluids. Similar copper-gold mineralisation patterns have been identified in other promising projects across Australia.
Development Timeline Accelerating
Lefroy Exploration's grade control drilling program is now more than 75% complete, with the remaining work expected to be finished within the next two weeks. Final results from this comprehensive program are anticipated by mid-July.
In parallel with the grade control drilling, the company has completed:
- Diamond drilling targeting deeper Stage 2 extensions, with geotechnical logging underway
- Installation of a second RC drill rig to complete three pump-test bore holes for hydrogeological studies
This multi-faceted approach demonstrates Lefroy's commitment to rapidly advancing Lucky Strike toward production, with all necessary technical studies being completed concurrently. Furthermore, this approach mirrors strategies employed by other successful miners like Many Peaks Minerals who are also conducting extensive drilling campaigns on their gold projects.
Zero-Cost Development Model Drives Shareholder Value
A key advantage of Lefroy Exploration's approach is that all drilling and development activities are being fully funded by its mine profit share partner BML Ventures, requiring zero upfront costs from Lefroy. This capital-efficient model allows the company to advance toward production while preserving cash for additional exploration across its broader portfolio.
The Lucky Strike Gold Deposit currently contains a Mineral Resource Estimate of 1.27Mt @ 1.95 g/t Au for 79,600 ounces, including 43,400 ounces in the Indicated category and 36,200 ounces in the Inferred category.
Investment Potential: Multiple Growth Pathways
Lefroy's strategic position combines near-term production potential with significant exploration upside. The company's total resource inventory now exceeds one million ounces across multiple deposits:
| Deposit | Resource | Grade | Ounces |
|---|---|---|---|
| Lucky Strike | 1.27Mt | 1.95 g/t Au | 79,600 oz |
| Mt Martin | 9.29Mt | 1.47 g/t Au | 439,000 oz |
| Burns Central | 42.96Mt | 0.36 g/t Au | 497,472 oz |
With Lucky Strike moving toward production in early 2026, Lefroy Exploration is well-positioned to generate cash flow that can fund further exploration and potentially apply its successful profit-share model to additional deposits within its portfolio.
The recently completed diamond drilling program at Lucky Strike is particularly significant, as it targets deeper extensions of high-grade mineralisation, including follow-up of historical intersections such as 8m @ 18.66 g/t Au from previous drilling. This approach to expanding resource potential through targeted drilling has proven successful for many exploration companies.
Why Investors Should Follow Lefroy Exploration
Lefroy represents a compelling investment opportunity in the Australian gold sector for several key reasons:
- Zero-cost path to production through innovative profit-share agreements
- Robust grade profile confirmed by extensive grade control drilling
- Significant resource base with over 1 million ounces across multiple deposits
- Strong technical management focused on creating shareholder value
- Exploration upside for both resource growth and new discoveries
With mining operations at Lucky Strike targeted for early 2026 and final technical studies nearing completion, Lefroy Exploration is rapidly approaching its transition from explorer to producer – all while maintaining the exploration upside that could deliver further growth. The company's high-grade gold results place it among several promising gold explorers delivering impressive drilling outcomes in Australia's premier mining regions.
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