Lexington Gold Ltd shares jumped on Monday after the firm shared positive sample re-splits from its Loflin and Loflin South project.
The Bermuda-based explorer with projects in the US said 1-metre re-splits from the reverse circulation drill hole 4-metre composite samples returned ‘shallow, high-grade intercepts’.
‘The deposit exhibits significant shallow mineralisation with grades of up to 10 grams per tonne gold achieved as well as multiple Intersections of 20 metre plus widths at mineable grades, including 34 metres at an average grade of 1.75 grams per tonne gold,’ explained Chief Executive Officer Bernard Olivier.
Shares in Lexington were 20% higher at 3.00 pence each in London on Monday morning.
The firm hopes for the results from the re-splits to contribute towards an upgraded JORC Resource estimate for the combined Jones-Keystone-Loflin project. It expects to receive the estimate by the end of the month.
‘The greater detail and accuracy achieved from the 1-metre sampling at Loflin further highlights the success of our recent RC drill campaign and serves to confirm and support these exceptional results announced previously,’ Olivier continued.
Copyright 2022 Alliance News Limited. All Rights Reserved.
