REG - Lexington Gold Ltd - Drilling Update

Lexington GoldAnnouncement

10/03/2022 07:01

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RNS Number : 2657E  Lexington Gold Limited  10 March 2022

10 March 2022

Lexington Gold Ltd

("Lexington Gold" or the "Company")

RC Drilling Programme Completed on the

Jones-Keystone side of JKL

 

Lexington Gold (AIM: LEX), the gold exploration and development company with
projects in North and South Carolina, USA, is pleased to announce that its
maiden drilling programme on the Jones-Keystone side of its
Jones-Keystone-Loflin Project ("JKL") has now been completed bringing to a
conclusion the Company's planned 5,000m reverse circulation ("RC") drill
programme.

Highlights

 

A total of 6 drill holes for an aggregate of 675m were drilled at
Jones-Keystone thereby concluding the 5,000m RC drilling campaign.

 

·    Detailed logging and sampling of the 6 holes drilled is currently
being conducted.

·    Initial logging identified multiple intersections of alteration zones
and sulphides mineralisation and the largest combined intersection identified
was over 50m.

·    The primary aim of the drilling on the Jones-Keystone side of JKL is
to enable the estimation of a maiden JORC compliant resource estimate.

·    An additional 190 samples comprising of 4 metre sample composites as
well as standards, blanks and duplicates will be dispatched to American Assay
Labs ("AAL") in Nevada for gold assaying as well as whole-rock geochemistry
analyses.

·    The Company is still awaiting the remaining outstanding assay and
whole-rock results for its Carolina Belle project from SGS Laboratory in
Vancouver as well as the first batch of assay results for Loflin to be
returned from AAL.

 

Bernard Olivier, Lexington Gold's CEO, commented:

"We are pleased to have successfully concluded our 5,000m RC drilling campaign
on a high note with the intersection of over 50m of alteration and sulphide
mineralisation at Jones-Keystone. We believe the drilling at Jones-Keystone
will enable the establishment of an initial maiden JORC resource estimate for
Jones-Keystone once the assay results are received in due course. This can
then be further expanded through a follow up drill campaign similar to our
plan for the Loflin side of JKL.

 

"We eagerly await receipt of the final results from the initial reconnaissance
drilling at Carolina Belle and the initial results from Loflin and Loflin
South."

 

 

Additional information

Jones-Keystone-Loflin Project

 Table 1: Lexington Gold - RC Drilling Summary at Jones-Keystone (Drilling from
 surface)
 Hole ID No.      Project         Dip (degrees)  Azimuth (degrees)  Final depth (m)
 JKRC-001         Jones-Keystone  -40            155                80
 JKRC-002         Jones-Keystone  -45            152                150
 JKRC-003         Jones-Keystone  -50            150                140
 JKRC-004         Jones-Keystone  -40            150                90
 JKRC-005         Jones-Keystone  -50            150                120
 JKRC-006         Jones-Keystone  -50            150                95
 Total (metres):                                                    675

 

Enquiries:

 

 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 / James Harris        T: +44 207 409 3494

 Peterhouse Capital Limited (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)

 Tom Randell / Annabelle Wills                          T: +44 7948 758 681

 

 

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.

 

Note to Editors:

Lexington Gold Ltd (AIM: LEX) is focused on the exploration and development of
its four diverse gold projects, covering a combined area of approximately
1,675 acres in North and South Carolina, USA. The projects are situated in the
highly prospective Carolina Super Terrane ("CST"), which has seen significant
historic gold production and is host to a number of multi-million-ounce mines
operated by majors and was also the site of the first US gold rush in the
early 1800s, before gold was discovered in California.

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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