REG - Lexington Gold Ltd - Assay results from Jennings-Pioneer Project

Lexington GoldAnnouncement

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RNS Number : 6734Z  Lexington Gold Limited  17 September 2025

17 September 2025

Lexington Gold Ltd

("Lexington Gold" or the "Company")

 

Barite Hill drilling extends gold zones and maiden gold intersections on the

Jennings Trend at the Jennings-Pioneer Project, South Carolina, USA

 

Lexington Gold (AIM: LEX | OTCQB: LEXLF), the gold exploration and development
company with projects in South Africa and the USA, is pleased to announce
highly encouraging assay results from its latest diamond core drilling
programme at the Jennings-Pioneer Project in South Carolina, USA.

 

Highlights:

 

Six drill holes (599m) were completed and assayed:

·    Barite Hill Trend:

o  Step-out drilling has extended mineralisation within the licence area,
with the Red Hill Zone now confirmed over 150m and the Middle Zone over 75m in
strike length.

o  Both zones remain open to the north-east and down plunge.

o  Notable intersections include:

§ Hole JP25-4: 31m at 1.00 g/t Au from 142m to 173m, including 6m at 2.14 g/t
Au.

§ Hole JP25-4: 8m at 2.27 g/t Au from 64m to 72m.

§ Hole JP25-5: 6m at 1.09 g/t Au from 44m to 50m.

 

·      Jennings Trend:

o  Maiden drilling has achieved first-ever gold intersections, including 2m
at 1.10 g/t Au (Hole JP25-6) and 2m at 0.94 g/t Au (Hole JP25-9).

o  These intersections, located adjacent to historical Pioneer Mine shafts,
represent a new gold trend discovery and confirm Jennings as a second
mineralised trend warranting follow-up drilling.

 

·   Multi-element assays have confirmed the presence of silver, copper,
zinc and tellurium as potential by-products, with intersections including:

o  Hole JP25-5: 8m at 14.41 g/t Ag and 50.00 g/t Te.

o  Hole JP25-4: 4m at 15.05 g/t Ag, 0.39% Cu and 1.49% Zn.

 

 

Bernard Olivier, CEO of Lexington Gold, commented:

"These latest results are highly encouraging and further demonstrate the
strong growth potential of the Jennings-Pioneer Project. At Barite Hill,
step-out drilling has extended both the Red Hill and Middle Zones, which
remain open along strike and at depth. This confirms the continuity of gold
mineralisation along this historic trend and includes substantial shallow
intersections grading above 2 g/t.

 

"Equally exciting is the maiden gold discovery at the Jennings Trend, where
our first drill holes have delivered tangible gold intersections consistent
with historical mine workings. Jennings is now emerging as a brand-new
gold-bearing trend for Lexington Gold, significantly enhancing the scale and
potential of the project alongside Barite Hill.

 

"In addition, the recovery of silver, copper, zinc and tellurium underscores
the polymetallic upside of the system. Together, these results provide a
robust platform for the next phase of drilling as we continue to advance this
highly prospective project for the benefit of our shareholders and wider
stakeholders."

 

 

Operational Update

 

The Spring 2025 drill programme comprised six diamond drill holes (599m)
across both the Barite Hill and Jennings Trends (see Figure 1). In addition, a
short 20m pre-collar (Hole JP25-6a) was drilled but not assayed due to poor
recovery. The programme targeted extensions of the Barite Hill Trend adjacent
to the historical 1990s Barite Hill open pit (see Figure 2) and involved
maiden drilling at the Jennings Trend in the vicinity of the historical
Pioneer Mine shafts.

 

All six assayed holes intercepted zones displaying alteration-mineralisation
textures associated with gold, silver and base metals, including broad
silica-sericite alteration with intervals of massive to semi-massive sulphides
and quartz-barite-sulphide veins. These mineralisation styles are interpreted
to represent both a volcanic-hosted massive sulphide polymetallic system
(foliation-parallel sulphides - see Figure 3) and a gold-silver epithermal
system (quartz-barite-sulphide veining - see Figures 4 and F5).

 

Barite Hill Trend:

·      Hole JP25-4 intersected two lenses at Red Hill: 5m @ 0.95 g/t Au
from 15m and 8m @ 2.27 g/t Au from 64m. JP25-5 returned 6m @ 1.09 g/t Au from
44m. Together, these intercepts have confirmed and extended the strike length
of the Red Hill Zone to over 150m within the project area.

·      The zone remains open to the north-east and down plunge.

·      Hole JP25-4 also intercepted the Middle Zone with 31m @ 1.00 g/t
Au from 142m (including 6m @ 2.14 g/t Au), extending the strike length of the
Middle Zone to over 75m within the project area.

·      The Middle Zone remains open to the north-east and down plunge.

 

Jennings Trend:

·      Maiden drilling has delivered the first-ever gold intersections,
including 2m @ 1.10 g/t Au (Hole JP25-6) and 2m @ 0.94 g/t Au (Hole JP25-9).

·      These intersections re adjacent to the historical Pioneer Mine
shafts and validate Jennings as a new gold-bearing trend. Combined with the
observed alteration and sulphide mineralisation, the results confirm Jennings
as a significant new discovery.

·      Assay results from preliminary holes JP25-6, JP25-7, JP25-8 and
JP25-9 confirm the presence of highly anomalous gold, marking an important
step in the progression of exploration at Jennings. Additional drilling is
warranted to test the historical mine workings along strike and at depth.

 

The assay results confirm and extend known mineralisation at Barite Hill while
delivering a new discovery at Jennings.

 

Figure 1: Plan view map of the Spring 2025 Jennings-Pioneer Project core drill
programme with LiDAR and historical and recent drill traces coloured by gold
assay grade in grams per tonne. Bold grey ovals are the approximate bounds of
exploration potential on the Barite Hill and Jennings Trends as indicated by
aerial VTEM, the distribution of historical workings and soil geochemistry.

 

 

Figure 2: Oblique view of the Barite Hill Trend with recent gold intercept
traces and historical drill hole traces. Also depicted here are the historical
Barite Hill open pit gold mine contours, a surface topography,
Jennings-Pioneer project margins, and the recent implicit models of 0.50 g/t
Au and 1.00 g/t Au grade shells.

 

 

Figure 3: 0.17m segment of half NQ core from Hole JP25-4 - 194.73m to 194.90m
displaying foliation parallel sulphides found at the base of the Middle Zone
of the Barite Hill Trend.

 

Figure 4: 0.14m segment of half NQ core from Hole JP25-4 - 166.86m to 167.00m
displaying a quartz-barite-sulphide vein from the Middle Zone of the Barite
Hill Trend.

 

 

Figure 5: 0.11m segment of half NQ core from Hole JP25-6 - 56.44m to 56.55m
displaying a quartz-barite-sulphide vein near the Brown shaft of the Pioneer
Mine Site on the Jennings Trend.

 

 

 

 Core Hole ID  Coordinates NAD 1983 UTM Zone 17N         Collar Orientation at surface in degrees      Total Depth in metres  Targets

               X             Y             Z             Azimuth                Dip
 JP25-4        380425.89     3749434.91    127.46        137                    -57                    200.0                  Barite Hill Trend - Red Hill, Middle Zone
 JP25-5        380446.18     3749496.04    127.80        131                    -45                    92.0                   Barite Hill Trend - Red Hill Zone
 JP25-6a       380085.54     3749672.29    141.05        138                    -45                    20.0                   not assayed
 JP25-6        380085.54     3749671.29    141.05        138                    -45                    62.0                   Jenning Trend - Brown Shaft
 JP25-7        380227.56     3749769.57    147.45        135                    -45                    62.0                   Jenning Trend - Crayton Shaft
 JP25-8        380161.11     3749705.08    146.40        135                    -45                    71.0                   Jenning Trend - Brown Shaft
 JP25-9        380214.63     3749784.76    144.14        135                    -45                    92.0                   Jenning Trend - Crayton Shaft

Table 1: Jennings-Pioneer Project Spring 2025 core drill programme collar
information.

 

 Drill Core Hole ID      Intercept Down Hole Depth in Metres       Intercept Width Along Drill Trace in Metres  Au g/t  Zone
                         From                        To
 JP25-4                  15                          20            5                                            0.95    Barite Hill Trend - Red Hill

 JP25-4                  64                          72            8                                            2.27    Barite Hill Trend - Red Hill

 JP25-4                  142                         173           31                                           1.00    Barite Hill Trend - Middle Zone
                         Including
                         142                         146           4                                            1.78    Barite Hill Trend - Middle Zone

                         167                         173           6                                            2.14    Barite Hill Trend - Middle Zone

 JP25-5                  44                          50            6                                            1.09    Barite Hill Trend - Red Hill

 JP25-6                  56                          58            2                                            1.10    Jennings Trend - Brown Shaft

 JP25-7      32                        38                          6                                            0.15    Jennings Trend - Crayton Shaft

 JP25-8                  42                          48            6                                            0.32    Jennings Trend - Brown Shaft

 JP25-9                  67                          69            2                                            0.94    Jennings Trend - Crayton Shaft

Table 2: Jennings-Pioneer Project Spring 2025 drill core gold assay intercepts
table. Gold intercepts are based on two metre composites followed by fire
assay analysis at ALS Laboratories in North America.

 

 Drill Core Hole ID  Intercept Down Hole Depth in Metres     Intercept Width Along Drill Trace in Metres  Ag g/t  Cu %  Zn%   Te g/t  Zone
                     From                To
 JP25-4              32                  48                  16                                           5.63    0.09  0.05  15.68   Barite Hill Trend -

                                                                                                                                      Red Hill
 JP25-4              140                 153                 13                                           8.54    0.05  0.05  30.55   Barite Hill Trend -Middle
 JP25-4              169                 177                 8                                            6.75    0.13  0.03  23.65   Barite Hill Trend - Middle
 JP25-4              193                 197                 4                                            15.05   0.39  1.49  1.79    Barite Hill Trend - Middle
 JP25-5              44                  52                  8                                            14.41   0.04  0.03  50.00   Barite Hill Trend -

                                                                                                                                      Red Hill
 JP25-8              56                  58                  2                                            2.95    0.06  0.86  0.33    Jennings Trend - Brown Shaft

Table 3: Jennings-Pioneer Project Spring 2025 drill core silver, copper,
tellurium and zinc intercepts table. Multi-element intercepts are based on
four metre composites followed by ICP-MS and ICP-AES analytical methods at ALS
Laboratories in North America.

 

 

 

Competent Person's Statement

The information contained in this announcement that relates to exploration
activities and associated assay results 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

 Optiva Securities Limited (Joint Broker)                www.optivasecurities.com (http://www.optivasecurities.com)
 Bartu Ciftci / Christian Dennis                         T: +44 203 981 4178

 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                       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, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

Note to Editors:

Lexington Gold (AIM: LEX | OTCQB: LEXLF) 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 six gold projects covering approximately 114,638 hectares in South
Africa.

 

Further information is available on the Company's website:
www.lexingtongold.co.uk (http://www.lexingtongold.co.uk) or follow us through
our social media channel: X : @LexGoldLtd.

 

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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