(Alliance News) - Lexington Gold Ltd on Tuesday said its gold, silver and copper exploration drill programme at its Jennings-Pioneer project in the US state of South Carolina has now been completed.
The gold exploration and development company said activities culminated for a total of 495 metres being drilled, comprising three diamond core holes.
Visual observations of massive sulphides, semi-massive sulphides and associated quartz barite veins were found in all three holes, Lexington said, with initial indications suggesting all target mineralised zones of the Barite Hill trend were successfully intersected.
Lexington said chalcopyrite was observed in massive sulphide zones and in quartz barite veins indicating the presence of copper mineralisation at Jennings-Pioneer.
The drill core is currently undergoing cutting and sampling during the remainder of April 2024 for submission to the ALS Laboratory in Reno in the US state of Nevada, Lexington said, with assay results currently expected to be returned by June 2024.
"These are very promising initial findings from our Jennings-Pioneer exploration drilling programme. With such positive indications and observations, we continue to press ahead with our activities and expect to have the drill core cut and sampled by month end," said Chair Ed Nealon.
"With the subsequent assay results expected to be received in June 2024, we look forward to providing further updates to shareholders in due course."
Shares in Lexington Gold were up 20% to 5.39 pence each in London on Tuesday morning.
By Greg Rosenvinge, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Lexington Gold (LEX)