- Lexington Gold Ltd (DI)
- 01 July 2025 14:14:33
Source: Sharecast
The AIM-traded company said it completed around 600 metres of drilling across the Barite Hill and Jennings Trends, with 200.9 metres of drill core displaying strong alteration and mineralisation textures typical of epithermal gold-silver and base metal systems in the Carolina Slate Belt.
“We are highly encouraged by the presence of widespread visual alteration and sulphide mineralisation in all six of the latest drill holes,” said non-executive chairman Edward Nealon.
“This significantly builds on our prior work and confirms that both the Barite Hill and Jennings Trends remain open and highly prospective.
“We look forward to receiving the assay results and the opportunity to continue advancing this strategically located and multi-element asset.”
At the Barite Hill Trend, drill holes JP25-4 and JP25-5 intersected mineralisation linked to the Middle Zone and Red Hill Zone, extending the known strike length up to 200 metres northeast of the historic Barite Hill open pit.
The core showed quartz-barite veining and massive sulphides, reinforcing the area’s near-surface potential.
At the Jennings Trend, holes JP25-6 to JP25-9 targeted the historic Pioneer Mine site and encountered both shallow oxidised mineralisation and deeper sulphide-rich zones, suggesting that ore bodies previously mined remain open and underexplored.
Core cutting and sampling was now underway, with assay results expected within six weeks.
The data would be used to refine and expand Lexington’s geological and grade models.
At 1326 BST, shares in Lexington Gold were down 4% at 3.6p.
Reporting by Josh White for Sharecast.com.