Multiple significant shallow gold intersections were returned from the 26 holes drilled, including 9 metres at 1.69 g/t gold from 41 metres and 6 metres at 1.75 g/t gold from 42 metres.
The program was designed to target the source of the extensive gold footprint in the regolith from historic drilling, and to improve definition of the gold located at the base of the paleochannel.
Lefroy’s drilling has confirmed the tenor of the gold mineralisation at the base of a paleochannel, which is over 320 metres of strike length and open to the north and south.
The results demonstrate the robust nature and tenor of gold at the base of the paleochannel and opens the opportunity to evaluate numerous other occurrences at the Red Dale Prospect.
Lefroy is currently preparing to conduct a follow up reverse circulation drill program with a Programme of Works-Exploration recently lodged.
The focus of exploration at Red Dale remains fixed on the discovery of a primary source to the broad gold in paleochannel anomaly, in conjunction with the opportunity to delineate one or more channel hosted gold systems.
Lefroy is well funded with a cash balance of $3.5 million as at 31 March 2017.