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Lexington Gold receives outstanding Jones-Keystone assay results

Published by
Global Mining Review,


Lexington Gold, a gold exploration and development company with projects in North and South Carolina, USA, has now received all of the outstanding assay results with respect to Jones-Keystone further to the company's recently completed 5000 m reverse circulation (RC) drilling programme.

The assay results received relate to the six RC holes drilled on the Jones-Keystone side of the company's Jones-Keystone-Loflin (JKL) Project. The objective of such drilling at Jones-Keystone was to verify third party historical drill results with the aim of enabling a JORC resource estimation to be produced for the Jones-Keystone side of the JKL Project and to expand the existing Maiden JORC (2012) mineral resource estimate completed by Pivot Mining Consultants Pty Ltd for the Loflin side of the JKL Project comprising an inferred resource of 2 064 000 t at 0.99 g/t Au for 65 056 oz of contained gold, as announced on 23 September 2021. The JKL Project is one of four projects in the company's portfolio located in the highly prospective Carolina Super Terrane (CST), in which a majority interest was acquired in November 2020, and which is host to a number of multi-million-ounce mines operated by third party large scale competitors.

Highlights

  • Promising assay results received for the six RC drill holes at Jones-Keystone, including:
    • Hole JKRC-002: 52 m at 0.99 g/t gold Au from 72 m to 124 m, including:
      • 24 m at 1.37 g/t Au from 80 m to 104 m.
      • 16 m at 1.7 g/t Au from 84 m to 100 m.
      • 4 m at 2.75 g/t Au from 92 m to 96 m.
  • Hole JKRC-004: 40 m at 1.27 g/t Au from 20 m to 60 m, including:
    • 28 m at 1.69 g/t Au from 28 m to 56 m.
    • 16 m at 2.5 g/t Au from 28 m to 44 m.
    • 4 m at 4.56 g/t Au from 36 m to 40 m.
  • Hole JKRC-003: 28 m at 1.37 g/t Au from 64 m to 92 m, including:
    • 8 m at 3.1 g/t Au from 64 m to 72 m.
    • 4 m at 4.96 g/t Au from 64 m to 68 m.
  • Jones-Keystone deposit remains open along strike and down dip.
  • These assay results should support and facilitate the production of a maiden JORC resource estimation for Jones-Keystone to be added to the existing JORC resource for Loflin, thereby increasing the combined JKL Project JORC resource.

Bernard Olivier, Lexington Gold's CEO, commented: “Our first ever drill results from Jones-Keystone have exceeded our expectations with multiple intersections of 24 m width and over and grades of between 1.37 g/t and 1.69 g/t Au. Additionally, all the gold intersections start above 100 m depth and represent commercial grades and mineable widths. We believe that these results will enable the establishment of a significant maiden JORC resource estimate for Jones-Keystone of potentially up to 100 000 oz, which has been commissioned from Pivot, which will serve to significantly increase the existing JORC resource estimate for the overall combined JKL Project. The planned next phases of drilling at JKL will be designed to potentially further expand the mineralisation and JORC resource. The Jones-Keystone deposit remains open in all directions, both along strike and down dip, whilst the Loflin deposit remains open along strike to the north-east, down-dip as well as to the south.”

Read the article online at: https://www.globalminingreview.com/exploration-development/15062022/lexington-gold-receives-outstanding-jones-keystone-assay-results/

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