Lexington Gold, the gold exploration and development company with projects in South Africa and the US, has announced that it has signed a drilling contract with Logan Drilling Group to commence its 2024 drilling programme at the Jennings-Pioneer Project on the Carolina Slate Belt, US.
Highlights:
- The drilling contract is for a minimum of 430 m of diamond drilling with Logan Drilling USA based in Sandersville, Georgia, US.
- Drilling is expected to start in the week commencing 18 March 2024, with all the requisite approvals already in place.
- The planned 430 m+ drilling campaign comprises three diamond core holes at the company’s Jennings-Pioneer Project to test gold mineralisation adjacent to the historic Barite Hill Main open pit that was active in the early 1990s.
- Drill targeting has utilised an implicit grade shell model and an explicit geologic model based on a wealth of modern and historic exploration and production data.
- The drill targets are three distinct gold ore zones that lie along and marginal to the contact between the Lower Pyroclastic Unit and the Upper Pyroclastic Unit of the Persimmon Formation.
- Historic assay results from Barite Hill indicate copper, silver, and possibly tellurium by-product potential.
- The drill programme is expected to take approximately one month to be completed.
- Assay results from the programme will be used to update and expand Lexington Gold’s implicit grade shell model for the Barite Hill Trend.
- Geologic logging of the drill core will be used to update and expand the company’s explicit geologic model for the Barite Hill Trend.
Ed Nealon, Lexington Gold’s Chairman, commented:
“We are delighted to be commencing the 2024 drilling programme at our Jennings Pioneer Project, working alongside Logan Drilling. Building on the historical data and the encouraging results of our 2023 soil and surface sampling programme, we are excited by the prospect of this next stage of exploration. With the programme expected to take a month to complete, we look forward to updating our shareholders in due course. Furthermore, with current gold prices reflecting a continued robust demand for gold and gold assets, we believe our strategic gold exploration initiatives to expand and validate known gold mineralisation both in the US and South Africa is more relevant than ever.”