Lefroy Exploration (ASX:LEX) has secured a toll milling agreement for the Lucky Strike Gold Project in Western Australia, representing a step forward towards production.
Under a mine profit-sharing partnership with BML Ventures, BML and FMR Investments will toll treat Lucky Strike’s ore at the Greenfields Mill in Coolgardie.
As part of the toll milling deal, BML and FMR have entered into an agreement, whereby BMR has secured a February 2026 milling slot to toll treat third party ore from the project.
The one-month slot begins from 29 January to 26 February 2026, subject to final, minor scheduling adjustments.
BML will notify FMR in writing by no later than 7 January 2026 of its plan to proceed with the slot, with all metallurgical testwork provided to FMR to be accepted by the same date.
Lefroy, which has a market capitalisation of $26 million, anticipates the throughput of the toll treatment parcel will be between 80,000 and 90,000 tonnes.
In conjunction, the company is actively engaging with other parties to secure additional toll milling placements. Lefroy aims to secure parcels totalling 250,000 tonnes of ore for stage one of the project.
CEO Graeme Gribbin says securing the first agreement represents another milestone for the company, as it advances down the path of starting operations.
“With drill rigs on site, permitting advancing and the first ore processing agreement in place, we are methodically advancing the Lucky Strike project towards operations and production in the second half of 2025,” Gribbin says.
The first phase of grade control drilling is expected to be completed by the end of June, while diamond drilling is targeting a potential larger stage two development at Lucky Strike. The first diamond drillhole is well underway.
Lefroy Exploration is an active Western Australian mineral explorer focused on growing its gold and critical minerals project portfolio.
Write to Aaliyah Rogan at Mining.com.au
Images: Lefroy Exploration
