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Gold Fields and Lefroy are finding more gold in Western Australia - Stockhead

Tuesday, 16 April 2019

Special Report: A major drilling program being done by big miner Gold Fields on Lefroy Exploration’s Western Australian ground has extended two gold trends under Lake Lefroy.

Gold Fields has so far drilled 6,613m across 132 holes as part of a major aircore drilling program aimed at obtaining geological and geochemical information beneath the lake’s surface for integration with geophysical data.

Results from drilling at Western Lefroy include a significant intersection of 34m at 0.44 grams per tonne (g/t) gold from 32m, located about 2km along strike to the north of the Zanex prospect.

Drilling has extended the Zanex trend to 3km and confirms it as a new, gold mineralised structural corridor.

The Eastern Shoreline trend has also been extended, and drilling has not yet hit the end of gold mineralisation.

“This is a very pleasing start to the lake drilling campaign by Gold Fields on Western Lefroy that is delivering encouraging results from a wide spaced and relatively shallow geochemical focused drilling program,” Lefroy Exploration (ASX:LEX) managing director Wade Johnson said.

“The tenor and footprint of the gold anomalism when considered against the discovery history of the growing Invincible gold deposit, where the average end of hole air core grade was less than 100 [parts per billion] gold from the early holes cannot be ignored.”

The Invincible mine is part of Gold Fields’ nearby St Ives gold camp, which is also located in Lake Lefroy – meaning Gold Fields is the perfect partner to be drilling on the Western Lefroy project.

The Invincible and Invincible South gold discoveries at St Ives were generated from subtle gold anomalies from aircore drilling that lay dormant in the database for many years, because of the low tenor gold results and small geochemical footprint.

Results from a further 73 holes totalling 4,086m are pending.

Double the chance of a big find

Lefroy has been busy with serious exploration programs at both its gold projects, located 50km to the southeast of one of Australia’s most fertile gold regions — Kalgoorlie.

The company’s gold project is a big, contiguous package of land – 598 sq km to be exact, so it has to be tackled on two fronts.

Location of the Lefroy Gold Project relative to Kalgoorlie and the Western Lefroy tenement package subject to the Gold Fields joint venture. (Supplied)

Gold Fields is taking care of exploration at Western Lefroy as part of a $25m farm-in and joint venture, which leaves Lefroy free to take care of Eastern Lefroy.

Gold Fields isn’t just a joint venture partner, it also owns an 18 per cent stake in Lefroy.

This is a good indicator of the confidence Gold Fields has in the potential for discovery within Lefroy’s large land package in the highly prospective Eastern Goldfields.


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