JORC Mineral Resource Estimate for Jones-Keystone14 Nov 2022 07:06
Total JORC Resource estimate for JKL Project up 155% to 210,800 Au oz
* 155% increase in contained gold for the combined JKL Project comprising:
o Total Inferred Resource of 6,976,000t @ 0.94 g/t Au for 210,800 oz of
contained gold
* Maiden independent JORC (2012) Mineral Resource Estimate for the
Jones-Keystone deposit:
o Total Inferred Resource of 4,380,000t @ 0.91 g/t Au for 128,000 oz of
contained gold
* Potential for mineralisation at Jones-Keystone remains open down-dip, to the
north-east as well as to thesouth-west
* Potential for further increase in resources at Jones-Keystone as well as
Loflin and Loflin South through additional drilling
* 3D Geological modelling and drilling delineated a NE-SW shallow plunging fold
structure that probably controls gold mineralisation
"We are pleased to announce that this maiden JORC resource estimation of
128,000 gold ounces for Jones-Keystone, which forms part of our JKL Project,
has surpassed our expectations. When combined with the existing JORC resource
for Loflin, it takes the total JORC mineral resource estimate for the JKL
Project to over 210,000 gold ounces, which is a significant achievement for
Lexington Gold.
"As previously reported, the JKL Project exhibits significant shallow
mineralisation with grades of up to approximately 10g/t gold achieved as well
as multiple intersections of 20m+ mineable widths, including 34m at an average
grade of 1.75 g/t gold. The mineralisation at both Jones-Keystone and Loflin
remains open down-dip and along strike with the potential to further increase
the resources via additional drilling".