Time to unlock the historical value with modern technology for Lexington Gold
“…our strategy is unlocking the potential out of these projects and then finding either a strategic partner or a buyer for the project…”
The highly prospective Carolina Super Terrane is home to Lexington Gold’s assets in both North and South Carolina. The territory was the site of the first US gold rush in the early 1800’s, and the AIM-listed company is doing its best to make sure it’s going to be the location of another as it works to prove up resources and negotiate new tenements.
With a recently announced maiden JORC mineral resource estimate for the Loflin side of the Jones-Keystone-Loflin project, investors learned there is an inferred resource of 2,064,000t @0.99 g/t Au for 65,056 oz of gold, and this month’s 5000 metre drill campaign aims to develop that resource further.
The campaign also includes the latest discovery at Carolina Belle that went undetected by the old timers, but of course they didn’t have the benefit of modern exploration techniques and the holy grail of geophysics.
Chief executive Bernard Olivier says “What we are doing is focusing on an area that’s got a long history of historical mining but very little exploration, and the exploration that was done was never incorporated into a resource so I our aim is to unlock value out of the historical exploration through well targeted exploration and drilling from our side.”
The drilling campaign is designed to do just that and in addition to the $2million in the bank, there is continued support from a very private family office who continue to increase their holdings. Pure Ice has appeared in multiple TR1 notification of major holdings notices. Responding to speculation about whether a takeover approach is on the offing, Olivier doesn’t think so, but doesn’t rule out others doing so. Pure Ice, he says; “Are supportive of our strategy of unlocking the potential out of these projects and then finding either a strategic partner or a buyer for the project as we have proven them up.”
TMS’s Sarah Lowther is the investor question conduit in this podcast with Bernard. Questions include the rationale for not sharing property maps that would assist the visualization of the company’s existing and long term potential. She learns negotiations are underway and some tenements are best left unveiled.
Read the latest written article from @TMSreach here
Follow the company on Twitter – @LexGoldLtd
The author was remunerated but does not hold shares in the company
