Lexington Gold announces Carolina Belle drill results

Lexington Gold's four-project portfolio covers a combined area of approximately 1675 acres in the highly prospective Carolina Super Terrane (CST) located in North and South Carolina, USA. The CST has seen significant historic gold production and is host to a number of multi-million-ounce mines operated by large-scale companies, including the third-party Haile Mine operated by OceanaGold Corporation, which, has a mineral resource grade of 1.67 g/t gold (Au).

Highlights

• Initial assay results for 11 of the 32 RC drill holes from the company's maiden drill campaign at Carolina Belle intersected the first gold mineralisation identified from drilling.
• Drilling has identified and confirmed the down-dip extension of the main historical ore-zone mined during the historical third party Iola and Uwarra gold mining operations with a confirmed down-dip extension intersection of:
  • 4 m at 2.1 g/t Au from 64 m to 68 m in hole CRBC-24.
• Significant gold mineralisation intersected in the Footwall and Hangingwall of the main ore-zone of the historical Iola and Uwarra gold mining operations with:
  • 11 m at 1.01 g/t Au from 68 m to 79 m (combined hangingwall, footwall and mined out historical main ore-zone) in hole CRBC-22, including:
    • Footwall intersection of 4 m at 1.62 g/t Au from 72 m to 76 m.
    • Hangingwall intersection of 4 m at 0.7 g/t from 68 m to 72 m.
    • Main historical ore-zone intersected between 72.2 m and 73.2 m.
• Potential second gold mineralised zone intersected approximately 25 m above the main historical Iola and Uwarra ore-zone with:
  • 4 m at1.53 g/t Au from 48 m to 52 m in hole CRBC-22.
Four drill holes intersected the historical mine workings of Iola and Uwarra.
• Assay results for the remaining 21 holes remain pending and will be announced as soon as they are received from the laboratory and collated.

Bernard Olivier, Lexington Gold's CEO, commented: “We are delighted to have received the first assay results from our maiden drilling campaign at Carolina Belle. It is an excellent initial result to intersect multiple mineralised zones of significant width so close to the surface.

“The first set of results are predominantly from the historic Iola and Uwarra gold mining operations. The drill results have now identified significant gold mineralisation in the footwall and hangingwall of the historical mining operations as well as confirming the down-dip extension of the main historical ore-zone. Four of the holes also intersected the historical mine workings providing valuable information on the dip and strike directions of the main mineralised zone as well as the extent of the historical mining operations. This will facilitate modelling and extrapolation of the mineralised zones for the next phase of drilling at Carolina Belle.

“These initial results give us great confidence regarding the prospectivity and potential of the Carolina Belle deposit and we look forward to receiving and reporting the results from the remaining 21 holes in the coming weeks.”

Read the article online at: https://www.globalminingreview.com/exploration-development/09022022/lexington-gold-announces-carolina-belle-drill-results/