Lefroy Exploration Limited (ASX: LEX) has announced an encouraging update from the Mulga 3 target located within the Eastern Lefroy tenement package of the Lefroy Gold Project in WA.
The company reported that a focused aircore drilling program is underway at a newly defined geophysical target, Mulga 3.
LEX said that the target was identified from a detailed gravity survey which highlighted three linear, parallel features interpreted to represent structures immediately west of the Salt Creek. Lefroy said that one of the linear trends, named Mulga 3, is interpreted to represent a faulted extension of a similar linear gravity feature along which the Salt Creek mine is located.
The company reported that the Mulga 3 target has not been previously evaluated by drilling. LEX said that an early stage 40-hole air core drill program is underway to evaluate the trend, which is expected to be completed in December 2019 with results anticipated in January 2020.
Lefroy gold project
The Lefroy Gold Project (LGP) is located to the south east of Kalgoorlie. It contains mainly granted tenure and covers 598km2 in the heart of the world class gold production area between Kalgoorlie and Norseman. The Project is in close proximity to Gold Fields’ St Ives gold camp
The project is divided into the Western Lefroy package, subject to a Farm-In Agreement with Gold Fields and the Eastern Lefroy package, which is 100% Lefroy owned.
According to the Farm-In Agreement with Gold Fields over the Western Lefroy tenement package, Gold Fields can earn up to a 70% interest in the package by spending up to a total of $25million on exploration activities within 6 years of the commencement date.
Mulga 3 target
Mulga 3 is a part of the Eastern Lefroy tenement package. It is located 1km west of the Salt Creek gold deposit in the Eastern Lefroy tenement package and proximate to both Lucky Strike and Red Dale.
The company reported that the Mulga 3 target was generated by the Company from interpretation of imagery derived from processing of geophysical data sets, in particular detailed gravity data.
LEX said that three linear north west trending features were recognised from the gravity imagery and are interpreted to be structures located immediately to the west of the Salt creek deposit.
The company noted that one of these trends, known as Mulga 3, is adjacent to the southern edge of a gravity high (dense body of rock) that has a similar response to that observed at Salt Creek.
Importantly these three trends approximate the orientation of the Salt Creek open pit and are also consistent with the strike orientation of Lucky Strike located 3km to the south west.
The Company said that it considers this north west trend as a key structural trend with potential to host mineralisation in the immediate area.
The Company interprets that the Mulga 3 gravity anomaly and trend is a fault displaced extension of the dolerite that hosts the Salt Creek deposit.
The company reported that the Mulga 3 linear trend has not been subject to previous drilling.
The company said that the area to the immediate east, most of which is external to the LEX tenements has been subject to prior exploration drilling but was drilled into a palaeochannel and not the linear trend.
AC drilling at Mulga 3
LEX reported that a program of air core drilling within tenement P25/2317 has commenced to evaluate the Mulga 3 target.
The company said that the program will involve the drilling of approximately 40 angle air core holes totalling 2000m on six 160m spaced drill sections or fences.
The program is expected to be completed by mid-December 2019, with results anticipated in January 2020.