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Lefroy Exploration Ltd. ( (AU:LEX) ) has shared an update.
Lefroy Exploration is launching a 4,000m reverse circulation drilling campaign at its Mt Martin Gold Project near Kalgoorlie, targeting shallow resource growth and extensions along the Main, East and Adelaide shear zones on its Location 45 freehold ground. The program will test numerous high-grade historical intersections that remain largely untested along strike and down-plunge, aiming to expand and upgrade the existing 439,000-ounce resource.
In parallel, the company is revising the Mt Martin Mineral Resource Estimate and generating an Exploration Target, incorporating stronger gold price assumptions and updated project economics since the last review in 2024. The outcome is expected to underpin additional drill targets and an expanded resource drilling program through 2026, reinforcing Mt Martin as a central growth asset and potentially enhancing Lefroy’s development options and value proposition for shareholders.
More about Lefroy Exploration Ltd.
Lefroy Exploration Ltd. is an Australian gold exploration and development company listed on the ASX, focused on advancing its 100%-owned Mt Martin Gold Project in the Eastern Goldfields of Western Australia. The project, held under the Location 45 freehold property, currently hosts a Mineral Resource Estimate of 9.29Mt at 1.47 g/t gold for 439,000 ounces across indicated and inferred categories.
Average Trading Volume: 287,798
Technical Sentiment Signal: Buy
Current Market Cap: A$46.58M
Learn more about LEX stock on TipRanks’ Stock Analysis page.