Lexington Gold announces MRE at JKL Project

Highlights

• Maiden JORC (2012) MRE completed by Pivot Mining Consultants Pty Ltd for the Loflin side of the JKL Project:
  • Inferred resource of 2 064 000 t at 0.99 g/t gold (Au) for 65 056 oz of contained gold.
• Potential for mineralisation at Loflin to remain open to the north-east and south-west, along the plunge of the syncline and the resource is expected to grow through additional drilling.
• 3D Geological model suggests that the gold mineralisation is associated with an isoclinal fold structure.
• Potential for extensions, upgrading of maiden resource classification and additional discoveries at JKL to be targeted as part of the upcoming reverse circulation (RC) drilling programme:
  • Approximately half of the 5000 m RC drill programme is to be conducted on the JKL Project, including:
    • Drilling to investigate potential extensions of the Loflin mineralisation, with the aim of further expanding the maiden resource estimation.
    • Drilling to test additional gold anomalies and areas for historical workings surrounding the current Loflin deposit.
    • Drilling on the Jones-Keystone side of the JKL Project, with the objective of enabling the potential establishment of a MRE for the Jones-Keystone side.

Bernard Olivier, CEO of Lexington Gold, commented: “We are pleased to report our first formal gold resource estimation in respect of our four projects in North and South Carolina. This maiden independent JORC resource estimate for the Loflin side of our JKL Project represents an important first resource milestone for our gold projects in the US. The mineralisation remains open along the plunge of the structure.

“With further drilling planned to investigate potential extensions to the mineralisation at Loflin as part of the upcoming RC drill campaign, as well as additional drilling to test further gold anomalies, we are optimistic about the potential for significantly expanding the maiden resource estimate for the Loflin side of JKL. With upcoming drilling also planned on the Jones-Keystone side of JKL, there is also potential for the establishment of a maiden resource for this area of the project. In addition to the drilling at JKL, we have also allocated approximately 2500 m of the 5000 m RC drilling campaign to the Carolina Belle Project.

“This initial resource estimation is a significant milestone for the company, and I would like to thank our excellent team on the ground, as well as our shareholders for their support.”

Read the article online at: https://www.globalminingreview.com/exploration-development/23092021/lexington-gold-announces-mre-at-jkl-project/