Lefroy Exploration recommences gold exploration in April 2024

Lefroy Exploration Limited (ASX: $LEX) has completed a comprehensive target review, resulting in an expanded exploration portfolio with a significant pipeline of projects. The company is set to recommence exploration activity with several exciting gold targets ready for testing in April 2024.

Executive Commentary on Exploration Plans

Following the Company's corporate restructure and cost reductions, we are now rapidly advancing towards unlocking value from our diverse portfolio of exploration projects around the extensive 635km2 Lefroy Project. Our experienced team has worked methodically and systemically across the entire Company of projects since the start of 2024 to identify the highest-ranking targets for testing. Anticipation is rising as we recommence our gold exploration program in April. Lucky Strike, which has an existing 80,000 ounce resource declared in 2020 and nearby Havelock represent stand-out near-surface exploration and resource extension opportunities, close to existing infrastructure. Additionally, coupled with exploration upside presented by our Location 45 property, numerous emerging prospective gold districts in the Western Lefroy JV and Lake Johnston, this represents a very exciting chapter for the Company.

Summary of Exploration Plans and Outlook

Lefroy Exploration Limited has completed a comprehensive target review, leading to an expanded exploration portfolio with a significant pipeline of projects. The company is set to recommence exploration activity in April 2024, with a focus on resource delineation, growth opportunities, and testing numerous high-grade intersections at Lucky Strike and Havelock projects. The company aims to unlock the next generation of gold discoveries and value for Lefroy shareholders. With a dominant land holding in the prolific Kalgoorlie-Kambalda district, Lefroy is advancing a diverse portfolio of exploration targets, guided by strategic principles of growing the resource base, generating targeted exploration programs, and maintaining a balanced, diverse exploration pipeline. The upcoming exploration drilling programs will prioritize resource growth, extension, and discovery within the Mt Martin and Lucky Strike project areas, along with advancing pre-resource exploration targets at Lucky Strike South, Havelock, Erinmore, and Coogee. The company also plans to engage in early-stage exploration targeting frontiers across the entire Location 45 area, Western Lefroy JV, and Lake Johnston project areas. Lefroy's acquisition of the Location 45 freehold property represents a new frontier for the company, offering significant opportunities for gold and nickel exploration. The company aims to release an updated mineral resource estimate for Mt Martin in the June FY24 quarter and continues to engage in commercial discussions relating to its more advanced resource projects. With a commitment to promoting and advancing a pipeline of early-stage exploration opportunities, Lefroy aims to identify the next generation of gold discoveries for its shareholders.