Investing News NetworkAUSTRALIA
Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to provide a progress report for the 1200m deep diamond drill hole underway to evaluate the Burns Au-Cu intrusion related mineral system at the Company’s wholly owned Eastern Lefroy Gold Project, located 70km southeast of Kalgoorlie.
- The Burns 1200m deep diamond hole, LEFD006, is on course & currently at 570m down-hole as of 29 July 2022
- LEFD006 has intersected multiple new & unexpected, mineralised diorite-porphyry intervals within altered high-Mg basalt. This includes:
- 400m-440m downhole of potassic-altered multi-phase diorite intrusions with chalcopyrite, pyrite + molybdenite
- These visual results support a broader western lateral extent to the Burns Au-Cu system, which indicates:
- the alteration zone is larger than previously interpreted with the contact of the main porphyry target-zone still yet to come (anticipated at ~650m down hole)
- Samples for the first 400m of diamond drilling have been submitted to the laboratory with preliminary results expected in October
- LEFD006 is part of a two-hole diamond program that is expected to conclude in August
Burns is a new and unique style of an intrusion-related gold (Au}- copper (Cu)-molybdenum (Mo) mineral system hosted by Archean age rocks in the Eastern Goldfields Province (EGP) of Western Australia, with understanding of the scale and genesis of the system to be advanced through this deep drilling program.
The gold, copper (and lesser molybdenum) mineralisation hosted by both the diorite porphyry, high- magnesium basalt and massive magnetite veins are considered by the Company to be a new and unique style of gold-copper mineralisation near Kalgoorlie and located within a land holding dominated by LEX.
Diamond Drill Program
The first hole, LEFD006 (Table 1), of the two-hole/1650m diamond drill program (Figure 1) commenced on 12 July (Refer LEX ASX release 12 July 2022).
LEFD006 is designed to evaluate the Burns Au-Cu mineralised diorite porphyry host rock to a target (vertical) depth of 1000m from surface with key aims to:
- Expand the continuity of the mineralisation discovered to date on a vertical scale
- Test the lateral extent of the system by 250m west of the main known mineralisation
- Provide geological and geochemical information to support ongoing research
- Demonstrate further that Burns is a new, large Au-Cu intrusion hosted mineral system
As of July 29, LEFD006 has intersected a 570m interval of predominantly high-Mg basalt. The wide basalt interval is variably epidote-biotite-magnetite-gypsum altered (Figure 3 and 5) with localised hydrothermal breccia intervals and narrow cross-cutting porphyry intervals. Within this is a new, unexpected 40m interval of multi-phase diorite porphyry intrusives.
Mineralisation within the basalt interval includes fracture-fill native copper (Figure 4) from ~180m in fresh basalt down to a downhole depth of 440m with vein and/or fracture-fill chalcopyrite, pyrite, chalcocite and molybdenite (Table 2). This wide downhole interval of altered basalt has increased the lateral extent of the copper mineralised Western Basalt zone by approximately 250m. The alteration assemblage supports a large hydrothermal alteration cell consistent with an intrusion related system.
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