Lexington Gold Ltd - gold exploration and development in South Africa and US - Establishes maiden exploration target for its Bothaville project in the Free State Province, South Africa. The exploration target estimation is based on recent drilling results, historical data and advanced geographical modelling. This shows up to 5.8 million ounces of gold is contained in the maiden exploration target of 16 million to 30 million tonnes of ore at an average grade of 2.26 to 6.03 grammes of gold per tonne. Chair Ed Nealon says: ‘It serves to validate and reaffirm Lexington Gold’s strategic focus on high-quality, scalable projects in the Witwatersrand Basin.’
Bernard Olivier, chief executive of Lexington Gold, says: ‘The establishment of this maiden JORC-compliant exploration target of up to 5.8 million ounces of gold at the Bothaville Project, combined with the existing JORC-compliant Mineral Resources of over 6 million ounces across our joint venture with Harmony Gold and the JORC Mineral Resource established for our US projects, firmly positions Lexington Gold as a substantial international gold exploration company.’
Current stock price: 3.92 pence, closed up 0.5% on Tuesday in London
12-month change: up 7.4%
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