23rd May 2025 12:24
(Alliance News) - Lexington Gold Ltd on Friday said drilling had now begun at its Jennings-Pioneer project in the Carolina slate belt.
The gold exploration and development firm in South Africa and the US said the drill rig was mobilised to the site earlier this week, and that diamond core drilling operations have now started.
The initial drilling programme will comprise of a minimum of 600 metres of diamond core drilling, and is expected to run for around two months, with assay results to follow afterwards.
Target zones include the Jennings Trend, which comprises of gold and silver mineralisation and associated base metals and tellurium, and the Barite Hill Trend, which is the north east extension of the previously intersected volcanogenic mineralisation identified in Lexington's 2024 drilling campaign.
Lexington said the programme is intended to expand on the "encouraging" results it received during its 2024 programme, which confirmed the presence of gold, silver, base metals such as copper and zinc, and tellurium mineralisation extending north east from the historic Barite Hill open pit mine.
"We are pleased to confirm the safe arrival of the drill rig and commencement of drilling at Jennings-Pioneer. This new programme will further evaluate two key mineralised zones and builds on the momentum of last year's exploration success. We look forward to reporting progress and assay results in due course," said Chief Executive Officer Bernard Olivier.
Shares in Lexington Gold were up 2.9% at 3.60 pence each in London on Friday afternoon. The stock is down 25% over the past year.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Lexington Gold