Business
South African Gold Drilling Contract and Timetable
South African Gold Drilling Contract and Timetable.
About this update from Lexington Gold Ltd.
[{"type":"text","content":"\n\n27 November 2023\nLexington Gold Ltd\n(\"Lexington Gold\" or the \"Company\")\nSouth African Gold Drilling Contract and Timetable\n \nLexington Gold (AIM: LEX), the gold exploration and development company with projects in South Africa and the USA, is pleased to announce an update regarding its first drilling campaign on the recently acquired White River Exploration Proprietary Limited (\"WRE\") assets in the Witwatersrand gold basin, South Africa.\n \nHighlights:\n· Fully funded 2,000m+ drilling campaign, including wedging, at the Bothaville Project located in the Witwatersrand Gold Basin, South Africa\n· Drilling contract signed with Discovery Drilling (Pty) Ltd (\"Discovery Drilling\") for a 2,000m+ drill programme\n· Discovery Drilling has extensive experience drilling in South Africa and the Witwatersrand Gold Basin\n· The drilling is expected to commence in mid-December 2023\n \nEd Nealon, Lexington Gold's Chairman, commented:\n\"This initial drilling campaign is being undertaken on the very prospective Bothaville NE tenements located 70 km NE of the world-famous Welkom Goldfield. The target is the shallow A-Reef horizon which subcrops at a depth of only 250m. Previous drilling has indicated good grades for the A-Reef and at such a shallow depth this represents a viable target for the economic development of a Witwatersrand reef horizon. This is a very interesting start to Lexington's campaign seeking to discover a new and viable gold reef horizon in a region of obvious gold mineralisation.\n\"With a fully-funded programme and a strategic timetable in place, we look forward to updating the market in due course on the progress and results of the drilling programme.\"\n \nAdditional Information\nThe drilling contract has been signed with Discovery Drilling for a minimum of 2,000m, including wedging, of combined percussion drilling and diamond drilling. The first drilling campaign at Bothaville is aimed at investigating the area around a historical drill hole (CC2) in which the A Reef yielded an average gold grade over five intersections of approximately 5.1g/t Au over a corrected interval of 77 cm. The drilling is planned to investigate both the down-channel and cross-channel gold mineralisation potential at an estimated dept...