Lucky Strike Drilling Yields 14m at 2.42 g/t Au, Advancing 2026 Mine Plans
Lefroy Exploration has reported strong, consistent gold assay results from its Lucky Strike deposit, reinforcing confidence in its resource model as it advances towards mining operations targeted for early 2026.
- Robust near-surface gold grades validate existing resource estimates
- Grade control drilling over 75% complete targeting northern pit
- Deeper diamond drilling for Stage 2 finished; assays expected in July
- Hydrogeological pump tests underway with reports due next month
- All drilling fully funded by BML Ventures, no upfront cost to Lefroy
Strong Grade Control Results Reinforce Resource Confidence
Lefroy Exploration Limited (ASX – LEX) has released a fresh tranche of assay results from its ongoing grade control drilling program at the Lucky Strike Gold Deposit in Western Australia. The results, featuring multiple significant near-surface gold intersections, continue to validate the company’s existing mineral resource estimates and geological model. With over 75% of the drilling program complete, the data supports the robustness and predictability of mineralisation at Lucky Strike, a key asset within Lefroy’s broader Lefroy Project.
Notable Intersections Highlight Shallow High-Grade Zones
The recent drilling has returned impressive intersections such as 14 meters at 2.42 grams per tonne gold from 28 meters depth, including a standout 1 meter at 7.74 grams per tonne. Other highlights include 7 meters at 4.55 grams per tonne from 22 meters, with a remarkable 1 meter at 25.4 grams per tonne, and 4 meters at 7.95 grams per tonne from 20 meters depth. These results extend the known shallow high-grade zones towards the south and east, underscoring the deposit’s expansion potential.
Advancing Stage 2 and Hydrogeological Studies
Beyond the grade control drilling, Lefroy has completed a diamond drilling program targeting a deeper Stage 2 of the deposit. While assay results from this program are pending and expected in July, geotechnical logging is already underway to inform future pit designs. Additionally, a second reverse circulation drill rig is conducting pump-test bore holes to support hydrogeological studies, with final reports also anticipated next month. These complementary programs are critical steps in advancing Lucky Strike towards production readiness.
Fully Funded Drilling Partnership Accelerates Development
Importantly, all drilling activities at Lucky Strike are fully funded by Lefroy’s mine profit share partner, BML Ventures, eliminating upfront capital expenditure for Lefroy. This arrangement allows the company to progress exploration and development efficiently while preserving its financial flexibility. With a current mineral resource estimate of approximately 79,600 ounces of gold at Lucky Strike, Lefroy is positioning itself for a low-cost, near-term production start targeted for early 2026.
Outlook for Lefroy’s Gold Development Strategy
Lefroy’s CEO, Graeme Gribbin, highlighted the encouraging nature of the results, emphasizing the consistent grade control outcomes and the potential for resource growth. The company’s strategic focus on shallow, high-grade deposits combined with profit share mining agreements aims to unlock value across its portfolio, including other deposits like Mt Martin and Burns Central. As Lefroy moves closer to mining operations, the market will be watching closely for the upcoming assay results from the deeper drilling and hydrogeological studies that could further enhance the project’s economics.
Bottom Line?
With strong drilling results and no upfront costs, Lefroy is well poised to transition Lucky Strike from resource to production in 2026.
Questions in the middle?
- What will the assay results from the deeper Stage 2 diamond drilling reveal about resource expansion?
- How will the hydrogeological studies impact mine planning and water management strategies?
- Could further high-grade zones be identified beyond the current northern pit target area?
