- Lexington Gold Ltd (DI)
- 23 May 2025 12:46:52
Source: Sharecast
The AIM-traded firm said the drilling followed the recent mobilisation of a rig under a contract with Logan Drilling USA, with the initial programme set to cover a minimum of 600 metres over about two months.
It said the campaign was targeting two key mineralised zones - the Jennings Trend, known for its gold, silver, base metal and tellurium content, and the Barite Hill Trend, which extends the volcanogenic mineralisation previously intersected in the company’s 2024 drilling campaign.
Lexington said it was aiming to build on last year’s encouraging results, which identified multi-metal mineralisation extending from the historic Barite Hill open pit.
Assay results from the current programme were expected after the completion of drilling, logging and sampling.
The company holds exploration projects in both the United States and South Africa, and said it was continuing to focus on advancing its North American assets.
“We are pleased to confirm the safe arrival of the drill rig and commencement of drilling at Jennings-Pioneer,” said chief executive officer Dr Bernard Olivier.
“This new programme will further evaluate two key mineralised zones and build on the momentum of last year's exploration success.
“We look forward to reporting progress and assay results in due course.”
At 1045 BST, shares in Lexington Gold were up 2.86% at 3.6p.
Reporting by Josh White for Sharecast.com.