Lexington Gold upbeat on Carolina Belle assay results

Carolinas-focussed exploration and development company Lexington Gold announced the assay results received from the recently-completed surface exploration sampling programme at the Carolina Belle Project on Monday, reporting that a new gold anomaly was identified over an initial surface area of 350 by 250 metres.

The AIM-traded firm said individual surface rock assay samples returned up to 17 grams of gold per tonne, with 10 samples assayed in excess of one gram per tonne, out of a total of 37 samples.

Selected gold assay results over one gram per tonne included 17 grams per tonne, 5.1 grams per tonne, 3.5 grams per tonne, 3.2 grams per tonne, 2.7 grams per tonne, and 2.2 grams per tonne.

A total of 270 soil samples were also taken and assayed on a 50 by 100 metre grid spacing.

Lexington said the soil and surface rock sampling programme successfully evaluated and extended the known prospects within the Carolina Belle Project, identified new areas of alteration and mineralisation, and identified additional drill targets.

“Having identified new areas of alteration and mineralisation, as well as additional drill targets, I am extremely pleased with the progress made as part of our initial exploration work at the project,” said chief executive officer Bernard Olivier.

“With several gold assay results over one gram per tonne, including one at 17 grams per tonne, all from surface outcrops, we continue to be excited about the potential at Carolina Belle.

“In light of the promising results from the surface exploration programme, in addition to the historical mining information and grades achieved at Carolina Belle, we are hopeful that, dependent on drill rig availability and suitability, we can incorporate a comprehensive drill programme at the Carolina Belle Project into a planned far larger second phase drilling campaign.”

At 0813 BST, shares in Lexington Gold were up 2.5% at 4.1p.