Lefroy Exploration reports drilling results at Mt Martin deposit
- Lefroy Exploration reported high-grade gold drilling results from its Mt Martin deposit in Western Australia.
- The company's stock traded up at $0.12 following the announcement of the exploration update.
- Management is advancing resource modelling and expects to complete a project scoping study during the September quarter.
Lefroy Exploration (ASX:LEX) reported gold drilling results from its Mt Martin deposit, including 8m at 3.03 grammes per tonne.
The high-grade intersections sit outside the project's existing mineral resource estimate of 460,000 ounces of gold.
Drilling confirmed down-plunge mineral continuity across an under-drilled one-kilometre strike length at the East Shear Zone.
The company stated that resource modelling is underway to update the high-grade gold domain within its Burns deposit.
Following the announcement, the Lefroy Exploration share price was up at $0.12.
The Mt Martin deposit currently contains 9.1 million tonnes of resource grading 1.6 grammes per tonne of gold.
The company stated that a technical scoping study for Mt Martin remains on track for delivery in the September quarter.
