LEFROY EXPLORATION L

(MT Newswires) -- Lefroy Exploration (ASX:LEX) intersected high-grade gold and copper at the Burns copper-gold prospect within the Lefroy Gold project in Western Australia, the company said Tuesday.

Assays from the initial ten holes of the 22-hole, 4,026-meter drill program conducted earlier in the year yielded up to 60 meters at 5.22 grams per tonne grade of gold and 0.38% copper from 112 meters including a higher-grade zone containing 20 meters at 12.2 grams per tonne grade of gold, 0.87% copper and 1.7 grams per tonne of silver from 144 meters.

Results further implied the presence of a broad magnetite alteration system containing an intrusion-related copper-gold-silver system within the prospect.

Company shares surged nearly 237% on market close.

Price (AUD): $0.69, Change: $0.49, Percent Change: +236.59%