REG - Lexington Gold Ltd - South African Gold Drilling Contract and Timetable

Lexington GoldAnnouncement

27/11/2023 07:00

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RNS Number : 6683U  Lexington Gold Limited  27 November 2023

27 November 2023

Lexington Gold Ltd

("Lexington Gold" or the "Company")

South African Gold Drilling Contract and Timetable

 

Lexington 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.

 

Highlights:

·    Fully funded 2,000m+ drilling campaign, including wedging, at the
Bothaville Project located in the Witwatersrand Gold Basin, South Africa

·    Drilling contract signed with Discovery Drilling (Pty) Ltd
("Discovery Drilling") for a 2,000m+ drill programme

·    Discovery Drilling has extensive experience drilling in South Africa
and the Witwatersrand Gold Basin

·    The drilling is expected to commence in mid-December 2023

 

Ed Nealon, Lexington Gold's Chairman, commented:

"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.

"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."

 

Additional Information

The 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
depth of around 350m to 450m below surface.

 

Competent Person's Statement

The information contained in this announcement that relates to exploration
activities is based upon information compiled by Edward Nealon, Chairman of
Lexington Gold. Mr Nealon is a Member of the Australasian Institute of Mining
and Metallurgy (AusIMM) and has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as defined in the
December 2012 edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Nealon consents
to the inclusion in this announcement of the matters based upon the
information in the form and context in which it appears.

 

For further information, please contact:

 

 

 Lexington Gold Ltd                                      www.lexingtongold.co.uk (http://www.lexingtongold.co.uk)

 Bernard Olivier (Chief Executive Officer)               via Yellow Jersey

 Edward Nealon (Chairman)

 Mike Allardice (Group Company Secretary)

 Strand Hanson Limited (Nominated Adviser)               www.strandhanson.co.uk (http://www.strandhanson.co.uk)

 Matthew Chandler / James Bellman / Abigail Wennington   T: +44 207 409 3494

 WH Ireland Limited (Joint Broker)                       www.whirelandplc.com (http://www.whirelandplc.com)
 Katy Mitchell                                           T: +44 207 220 1666

 Peterhouse Capital Limited (Joint Broker)               www.peterhousecap.com (https://peterhousecap.com/)

 Duncan Vasey / Lucy Williams (Broking)                  T: +44 207 469 0930

 Eran Zucker (Corporate Finance)

 Yellow Jersey PR Limited (Financial Public Relations)   www.yellowjerseypr.com (http://www.yellowjerseypr.com)

 Charles Goodwin / Annabelle Wills / Soraya Jackson      T: +44 7747 788 221

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018.

 

Note to Editors:

 

Lexington Gold (AIM: LEX) is a gold exploration and development company
currently holding interests in four diverse gold projects, covering a combined
area of approximately 1,675 acres in North and South Carolina, USA and in five
gold projects covering approximately 89,505 hectares in South Africa.

 

Further information is available on the Company's
website: www.lexingtongold.co.uk (http://www.lexingtongold.co.uk) . Neither
the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.

 

 

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