Business
Update re Jelani Resources JV Project, S.Africa
Update re Jelani Resources JV Project, S.Africa.
About this update from Lexington Gold Ltd.
[{"type":"text","content":"\n\n17 March 2025\nLexington Gold Ltd\n(\"Lexington Gold\" or the \"Company\")\n \nUpdate re Jelani Resources JV Project, South Africa\n \nLexington Gold (AIM: LEX; OTCQB: LEXLF), the gold exploration and development company with projects in South Africa and the USA, is pleased to announce that the board of directors of Jelani Resources Proprietary Limited (\"Jelani Resources\") has engaged Bara Consulting (Pty) Ltd (\"Bara Consulting\") to conduct an updated study on the Jelani Resources Project.\n \nJelani Resources is an incorporated joint venture between (i) White Rivers Exploration Proprietary Limited (\"WRE\") (owned by Lexington Gold 76% and its BEE partner 24%), and (ii) Lorraine Gold Mines Limited and Avgold Limited (both subsidiaries of Harmony Gold Mining Company Limited (\"Harmony\") (NYSE: HMY; JSE: HAR)).\n \nThe updated study (the \"Study\") will be conducted at a conceptual level and will focus principally on validating and refining the proposed mining approach and engineering concepts assuming the utilisation of existing infrastructure, but only to the extent that its availability to Jelani Resources has been confirmed (the \"Confirmed Available Infrastructure\"), in order to support a potential mining right application.\n \nKey Aspects of the Study\nMining Approach and Engineering Concepts\nThe Study will assess and refine the mining approach and engineering concepts that were previously developed during the 2019 equivalent study, with a particular focus on optimising the utilisation of the Confirmed Available Infrastructure.\n \nThe proposed mining strategy includes:\n· Utilisation of the Confirmed Available Infrastructure to potentially support early-stage mining activities.\n· Progressive development of access routes to facilitate extraction from deeper portions of the orebody.\n· Processing through existing available facilities where appropriate in order to enhance efficiency and cost-effectiveness.\nAlternative scenarios, including the potential construction of a standalone processing plant and continuous mining operations, will also be considered.\n \nMine Layout and Scheduling\nA comprehensive update of the proposed mine layout and scheduling will also be undertaken to reflect:\n·&...