Lexington Gold Ltd (DI) (LEX)

Sector:

Mining

Index:

FTSE AIM All-Share

 3.85p
   
  • Change Today:
      0.000p
  • 52 Week High: 6.75
  • 52 Week Low: 3.80
  • Currency: UK Pounds
  • Shares Issued: 373.16m
  • Volume: 131
  • Market Cap: £14.37m
  • RiskGrade: 361

Lexington Gold makes progress with drilling at JKL Project

By Josh White

Date: Wednesday 22 Dec 2021

LONDON (ShareCast) - (Sharecast News) - Carolinas-focussed exploration and development company Lexington Gold updated the market on its latest ongoing 5,000 metre reverse circulation drilling programme on Wednesday, reporting that 39 holes had been completed for a total of 3,275 metres drilled to date.
The AIM-traded firm said drilling was underway at the Loflin side of the Jones-Keystone-Loflin Project, with seven holes for a total of 645 metres completed to date.

It said "significant" sulphide mineralisation of over 25 metres was intersected on the southern side, and outside of the current known Loflin resource.

Drilling activities would pause during the Christmas and New Year period, the company said, with drilling scheduled to restart on 4 January.

Due to a current backlog reported by SGS Canada, the company said it was not expecting the first assay results to be returned during December.

Lexington added that it had successfully extended an existing 4.05 acre mining lease with an option to purchase agreement on the south-western side of JKL, for an additional six year period to 17 December 2027.

The company retained its 51% interest in all four of its projects, it said, by meeting year one minimum expenditure requirements.

"We continue to be pleased with the progress made in the ongoing 5,000 metre drilling programme, with drilling now underway at the Loflin side of the JKL Project, following the completion of drilling at the Carolina Belle Project, as announced on 1 December," said chief executive officer Bernard Olivier.

"The initial drilling of a previously untested, potential southern extension of the Loflin project returned sulphide intersections of over 25 metres."

Olivier said the drilling at Loflin was aimed at expanding the initial maiden resource estimate, which reported an inferred resource of 2,064,000 tonnes 0.99 grams of gold per tonne, for 65,056 ounces of contained gold.

"Our other goal for this drilling programme is to establish a maiden resource for the Jones-Keystone side of the JKL project.

"The company is awaiting the receipt of assay results from already completed drilling, and we look forward to updating the market once these are received.

"I would like to take this opportunity to thank the team on the ground for their diligent work and good progress made on the drilling programme, and also thank shareholders for their continued support this year."

At 1211 GMT, shares in Lexington Gold were up 3.46% at 2.9p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

LEX Market Data

Currency UK Pounds
Share Price 3.85p
Change Today 0.000p
% Change 0.00 %
52 Week High 6.75
52 Week Low 3.80
Volume 131
Shares Issued 373.16m
Market Cap £14.37m
RiskGrade 361

LEX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.89% below the market average63.89% below the market average63.89% below the market average63.89% below the market average63.89% below the market average
86.26% below the sector average86.26% below the sector average86.26% below the sector average86.26% below the sector average86.26% below the sector average
Price Trend
19.54% below the market average19.54% below the market average19.54% below the market average19.54% below the market average19.54% below the market average
28.67% above the sector average28.67% above the sector average28.67% above the sector average28.67% above the sector average28.67% above the sector average
Income Not Available
Growth Not Available

LEX Dividends

  Latest Previous
  Interim Final
Ex-Div 01-Oct-08 26-Mar-08
Paid 24-Oct-08 25-Apr-08
Amount 4.00¢ 7.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
14:41 80 @ 3.80p
09:54 51 @ 3.90p

LEX Key Personnel

CEO Bernard Olivier

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