Lexington appoints consultancy to establish exploration target for Bothaville project
Aim-listed Lexington Gold has appointed geological consultancy firm Dunrose Trading 186 – trading as Shango Solutions – to review all historical exploration undertaken on certain South African projects held through its 74%-owned White River Exploration (WRE) subsidiary, with a view to updating and consolidating the historical exploration data.
Shango will also produce a maiden exploration target estimation in accordance with the Joint Ore Reserve Committee guidelines.
This follows Lexington's recent round of drilling at Bothaville, in the Free State.
Shango has also been appointed to conduct a review and update the Ventersburg, Kroonstad and Klerksdorp projects, using historical exploration data on the WRE projects, much of which Lexington Gold has already been analysing, modelling and reviewing internally throughout this year.
The Bothaville exploration target report, as well as the other project review reports, are all expected to be completed during the fourth quarter of this year.
“With the gold price now exceeding $2 700/oz, Lexington is well-positioned with its gold assets in both South Africa and the US. The rising gold price, coupled with a favourable long-term outlook, significantly enhances the economic prospects of our projects.
“We are also encouraged by the growing interest in our gold assets from multinational gold mining companies,” says Lexington chairperson Ed Nealon.
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