Lefroy Exploration (ASX: $LEX) Quarterly Report Highlights

Lefroy Exploration (ASX: $LEX) released its quarterly activities report for the period ending 31 March 2024. The report highlights the completion of a resource extension drilling program at Mt Martin Gold Mine, returning significant gold intersections and identifying mineralization beyond the existing Indicated/Inferred Mineral Resource Estimate. The company also received high-grade nickel values from the Goodyear Nickel Deposit. Additionally, the report outlines corporate updates, including the appointment of Mr. Graeme Gribbin as CEO and Mr. David Kelly as Non-Executive Director.

Executive Commentary

Following a comprehensive review and restructure, Lefroy Exploration has strategically refocused its efforts on gold exploration to expand and upgrade gold resources. The company aims to accelerate resource growth and build on its existing 1.1 million ounces of gold base. The appointment of Mr. Graeme Gribbin as CEO and Mr. David Kelly as Non-Executive Director reflects the company's commitment to driving its exploration trajectory and achieving its strategic goals.

Summary of Quarterly Report

Lefroy Exploration's quarterly report showcases the success of its resource extension drilling program at Mt Martin Gold Mine, with significant gold intersections extending mineralization beyond the existing estimate. The company also confirmed high-grade nickel sulphides at the Goodyear Nickel Deposit. With a strategic refocus on gold exploration, Lefroy aims to expand and upgrade its gold resources, leveraging its dominant 635km2 Lefroy Project landholding. The company's cash reserves of $2.5 million and no debt position it well for future exploration activities. The appointment of Mr. Graeme Gribbin as CEO and Mr. David Kelly as Non-Executive Director signals a new exploration trajectory and a commitment to achieving the company's goals.