Lucky Strike Set for December Earthworks as Lefroy Finalises Pit Designs and Permits
Lefroy Exploration is nearing operational readiness at its Lucky Strike Gold Deposit with key approvals and designs in place, while gearing up for a high-grade drilling campaign at Burns Central. The company is fully funded and poised for a self-funded growth phase.
- Heritage surveys completed and clearing permits nearing approval at Lucky Strike
- Final pit shell designs and production schedules set for September finalisation
- Earthworks and pre-strip targeted for early December quarter 2025
- Burns Central drilling program planned to explore high-grade gold extensions
- Lefroy fully funded with a self-funded growth strategy through FY26
Progress Towards Production at Lucky Strike
Lefroy Exploration Limited (ASX – LEX) has marked significant progress towards commencing gold production at its flagship Lucky Strike Gold Deposit. The company has completed comprehensive heritage surveys across the entire mining area, receiving clearance from the Kakarra Native Title holders, a critical step that removes a major potential hurdle for development. Concurrently, clearing permit applications are in the final stages of government review, with approvals expected early in the December quarter.
Alongside regulatory progress, Lefroy has finalised pit shell optimisation designs and is on track to complete production scheduling and budgeting by September. These milestones pave the way for earthworks and pre-strip activities to begin in the first half of the December quarter, signaling a transition from exploration to operational readiness.
Drilling Validates Resource and Explores Expansion
Recent grade control drilling at Lucky Strike has reinforced confidence in the shallow, high-grade gold resource, with assays confirming exceptional grades within 20-25 meters of surface. Lefroy is also investigating the potential for a larger Stage 2 pit through diamond and reverse circulation drilling, with assay results pending. These results will inform whether the mine plan can be expanded to increase production and extend mine life.
Growth Potential at Burns Central Deposit
Beyond Lucky Strike, Lefroy is advancing exploration at the Burns Central Deposit, located within the broader Lefroy Project near Kalgoorlie. A high-grade gold zone was identified in 2024, and a new drilling program is planned to test extensions of this zone and conduct metallurgical studies. Preliminary metallurgical tests indicate robust gold recoveries, supporting the deposit’s development potential.
This exploration effort aligns with Lefroy’s broader strategy to unlock value from its portfolio of advanced gold projects, including Mt Martin, which collectively hold over one million ounces of gold resources. The company’s approach focuses on low-cost, shallow, high-grade deposits, leveraging profit-sharing mining agreements and toll milling arrangements to minimise capital expenditure.
Financial Position and Strategic Outlook
Lefroy is fully funded through FY26, supported by a profit-sharing agreement with BML Ventures for Lucky Strike and a recently secured toll milling agreement with FMR Investments. This financial foundation enables the company to pursue a self-funded growth strategy, aiming to generate cash flow from Lucky Strike to finance further exploration and development activities across its portfolio.
CEO Graeme Gribbin emphasised the company’s focus on delivering shareholder value through disciplined execution and strategic growth. As Lefroy moves closer to production, the company is also negotiating additional toll milling agreements to support potential increased throughput and operational flexibility.
Bottom Line?
With production at Lucky Strike imminent and high-grade exploration underway at Burns, Lefroy is positioning itself for a pivotal year of growth and cash flow generation.
Questions in the middle?
- Will the pending assay results from Stage 2 drilling at Lucky Strike support a larger pit design?
- How quickly can Lefroy secure additional toll milling agreements to scale production?
- What impact will the Burns Central drilling program have on the company’s resource base and development timeline?
