Lefroy Exploration Limited (ASX: LEX) ('Lefroy' or 'the Company') is pleased to report on the results from a 127-hole aircore (AC) drilling program completed along the Havelock and Lucky Strike Banded Iron Formation (BIF) trends in December 2020.

The BIF trends are located in the Lucky Strike exploration hub that is within the Eastern Lefroy (non-JV) project which is part of the Company's flagship Lefroy Gold Project ('LGP' or 'Project').

The Lucky Strike Exploration Hub is centered on the Lucky Strike deposit and envelopes the nearby gold prospects identified by the Company at Red Dale, Havelock, Neon and the Lucky Strike trend. Gold mineralisation at Lucky Strike is hosted within multiple north west trending BIF units interbedded with shale. Lucky Strike is hosted within a gold mineralised trend over a 3800m strike length, defined from AC drilling.

The Havelock prospect is located approximately 1.2km south west of Lucky Strike. The target was generated in 2018 from the Company's assessment of regional aeromagnetic imagery which highlighted a linear magnetic unit which was confirmed by AC drilling as BIF.

A single traverse of AC drill holes completed in July 2020 at 20m spacing intercepted strong quartz veining and highly oxidised BIF similar to the host rocks at Lucky Strike. The best result was 5m @ 1.2g/t Au from 50m in hole LEFA774.

About Lefroy Exploration Limited and the Lefroy Gold Project

Lefroy Exploration Limited is a WA based and focused explorer taking a disciplined methodical and conceptual approach searching for high value gold deposits in the Yilgarn Block of Western Australia. Key projects include the Lefroy Gold Project to the south east of Kalgoorlie and the Lake Johnston Project 120km to the west of Norseman. The 100% owned Lefroy Gold Project contains mainly granted tenure and covers 621km2 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, which contains the Invincible gold mine located in Lake Lefroy and is also immediately south of Silver Lake Resources' (ASX:SLR) Daisy Milano gold mining operation. The Project is divided into the Western Lefroy package, subject to a Farm-In Agreement with Gold Fields and the Eastern Lefroy package (100% Lefroy owned). The Farm-In Agreement with Gold Fields over the Western Lefroy tenement package commenced on 7 June 2018. 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

Contact:

Wade Johnson

Tel: +61 8 93210984

Email: wjohnson@lefroyex.com

(C) 2021 Electronic News Publishing, source ENP Newswire