5th Apr 2023 15:13
(Alliance News) - Lexington Gold Ltd on Wednesday said that samples taken from the Jennings-Pioneer project have once again confirmed the high potential of the licence.
Lexington Gold is a gold exploration and development company with projects in North and South Carolina in the US.
Analysis of soil assays in conjunction with field mapping has identified 13 gossans within three separate mineralisation trends: the Barite Hill Trend, the Jennings Trend and the Self Trend.
The Barite Hill Trend represents the north east extension of the historic Barite Hill Mine, which continues 600 metres along strike onto Lexington Gold's tenured property.
The sampling programme identified a 350-metre surface extent of the Red Hill mineralisation extending from the Barite Hill pit.
"These assay results have reaffirmed the high potential of the Jennings-Pioneer Project, particularly the mineralised extension from the historical Barite Hill pit onto our property, which is certainly an area of focus with our surface sampling returning up to 1.735 grams per tonne of gold," said Chief Executive Officer Bernard Olivier.
"Samples from the Jennings Trend have indicated elevated gold values as well as significant base metal assays. This area has not previously been tested, and these early findings warrant further exploration."
Lexington Gold shares were trading 4.0% lower at 4.80 pence each in London on Wednesday afternoon.
By Holly Beveridge, Alliance News reporter
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