Lexington Gold Ltd (DI) (LEX)

Sector:

Mining

Index:

FTSE AIM All-Share

3.82p
   
  • Change Today:
    -0.031p
  • 52 Week High: 6.75
  • 52 Week Low: 3.80
  • Currency: UK Pounds
  • Shares Issued: 373.16m
  • Volume: 131
  • Market Cap: £14.25m
  • RiskGrade: 361

Lexington intersects first gold from drilling at Carolina Belle

By Josh White

Date: Wednesday 09 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Carolinas-focussed exploration and development company Lexington Gold announced assay results from the first 11 holes of its reverse circulation drilling programme at the Carolina Belle Project on Wednesday.
The AIM-traded firm said the results intersected the first gold mineralisation identified from drilling, and had identified and confirmed the down-dip extension of the main historical ore-zone mined during the historical third party Iola and Uwarra gold operations.

It said the confirmed down-dip extension intersection was four metres at 2.1 grams of gold per tonne, from 64 to 68 metres, in hole CRBC-24.

Significant gold mineralisation was intersected in the footwall and hangingwall of the main ore-zone of the historical Iola and Uwarra gold mining operations, it added, at 11 metres at 1.01 grams of gold per tonne from 68 to 79 metres in hole CRBC-22.

That included a footwall intersection of four metres at 1.62 grams of gold per tonne from 72 to 76 metres, a hangingwall intersection of four metres at 0.7 grams per tonne from 68 to 72 metres, and the intersection of the main historical ore-zone between 72.2 and 73.2 metres.

A potential second gold mineralised zone was intersected about 25 metres above the main historical Iola and Uwarra ore-zone, with four metres at 1.53 grams of gold per tonne from 48 to 52 metres in hole CRBC-22.

Four of the holes intersected the historical mine workings of Iola and Uwarra, the board said, adding that assay results for the remaining 21 holes were pending, and would be announced as soon as they were received from the laboratory and collated.

"We are delighted to have received the first assay results from our maiden drilling campaign at Carolina Belle," said chief executive officer Bernard Olivier.

"It is an excellent initial result to intersect multiple mineralised zones of significant width so close to the surface.

"The first set of results are predominantly from the historic Iola and Uwarra gold mining operations."

Olivier said the results identified "significant" gold mineralisation in the footwall and hangingwall of the historical mining operations, as well as confirming the down-dip extension of the main historical ore-zone.

"Four of the holes also intersected the historical mine workings providing valuable information on the dip and strike directions of the main mineralised zone as well as the extent of the historical mining operations.

"This will facilitate modelling and extrapolation of the mineralised zones for the next phase of drilling at Carolina Belle.

"These initial results give us great confidence regarding the prospectivity and potential of the Carolina Belle deposit and we look forward to receiving and reporting the results from the remaining 21 holes in the coming weeks."

At 1340 GMT, shares in Lexington Gold were up 10.77% at 3.6p.

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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 3.82p
Change Today -0.031p
% Change -0.81 %
52 Week High 6.75
52 Week Low 3.80
Volume 131
Shares Issued 373.16m
Market Cap £14.25m
RiskGrade 361

LEX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
64.19% below the market average64.19% below the market average64.19% below the market average64.19% below the market average64.19% below the market average
87.79% below the sector average87.79% below the sector average87.79% below the sector average87.79% below the sector average87.79% below the sector average
Price Trend
19.66% below the market average19.66% below the market average19.66% below the market average19.66% below the market average19.66% 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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