21st Mar 2022 10:35
(Alliance News) - Lexington Gold Ltd on Monday said that the results from its reconnaissance drilling programme at the Carolina Belle project in North Carolina exceeded expectations.
The Bermuda-based gold company said that selected results from the McMaster, Martha Washington South, Uwarra & Iola gold targets were "extremely encouraging."
The McMaster and Martha Washington South targets, specifically, returned "excellent" initial results with multiple good intersections of 1 gram of gold per metric ton or more found close to the surface.
"We are delighted to have received the final assay results from our maiden drilling campaign at Carolina Belle, which have exceeded our expectations for this reconnaissance programme," Chief Executive Bernard Olivier commented.
"The drilling data and assay results will now be incorporated into our database and models for Carolina Belle and will enable the design of a Phase 2 drill campaign to further target, define and expand the intersected gold mineralisation from the various targets identified to date at the project."
Shares were up 7.4% at 2.90 pence each on Monday morning in London.
By Abby Amoakuh; [email protected]
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