Lefroy Hits 12.8g/t Gold Outside Resource Envelope Opening Door to Mt Martin Expansion
Lefroy hits multiple high-grade gold intercepts at Mt Martin, demonstrating resource growth potential
Lefroy Exploration (ASX:LEX) has reported high-grade gold assay results from its recently completed RC drilling campaign at the Mt Martin Gold Deposit in Western Australia. Standout headline intercepts include 8m @ 3.93 g/t Au from 141m (including 3m @ 9.44 g/t Au) in LEFR1161, and 6m @ 5.48 g/t Au from 69m (including 2m @ 12.8 g/t Au) in LEFR1148.
Several of these intercepts sit well outside the current Mineral Resource Estimate of 9.1Mt @ 1.6 g/t Au for 460,000oz (Indicated 3.9Mt @ 1.60 g/t Au for 200,500oz; Inferred 5.2Mt @ 1.6 g/t Au for 259,500oz), pointing to resource growth potential. The Mt Martin Scoping Study remains on track for completion during the September quarter (Q1 FY27, per the announcement dated 5 August 2026).
When big ASX news breaks, our subscribers know first
The standout drill results driving the growth story
The drilling program — totalling 5,046m of RC drilling across 37 holes — targeted the Main, East, North Shaft and Adelaide Shear corridors. Results successfully validated down-plunge continuity across the under-drilled >1km strike of the East Shear and identified high-grade intercepts both within and beyond the current resource envelope.
Notably, intercepts from LEFR1161 (North Shaft / Main Shear) and LEFR1174 (North Shear) sit outside the existing MRE, demonstrating the potential to expand the known mineralised footprint. Results from the East Shear confirm grade continuity down-plunge, with additional high-grade shoots remaining open and untested.
| Hole ID | Intersection | Included High-Grade | Shear Zone | Significance |
|---|---|---|---|---|
| LEFR1161 | 8m @ 3.93 g/t from 141m | 3m @ 9.44 g/t | Main / North Shaft | Outside current MRE |
| LEFR1145 | 9m @ 3.36 g/t from 94m | 1m @ 9.88 g/t | Main Shear | — |
| LEFR1148 | 6m @ 5.48 g/t from 69m | 2m @ 12.8 g/t | East Shear | Confirms down-plunge continuity |
| LEFR1151 | 15m @ 1.29 g/t from 90m | 3m @ 3.27 g/t | East Shear | Wider zone, down-plunge |
| LEFR1174 | 8m @ 1.95 g/t from 83m | 2m @ 4.91 g/t | North Shear | Outside current MRE |
Anomalous gold mineralisation is concentrated within moderately west-dipping shear zones, with higher-grade zones contained within quartz-carbonate bearing lodes that plunge moderately to the northwest. The drilling program is reported to have successfully extended known mineralisation and identified new corridors with potential for further resource growth.
Why these intercepts matter — the East Shear opportunity explained
What “high-grade, down-plunge and open” means for investors
Grade in gold mineralisation is measured in grams per tonne (g/t). Grades exceeding 5 g/t are generally considered high-grade for open-pit-style gold deposits, making intercepts such as 6m @ 5.48 g/t economically significant.
“Down-plunge” refers to mineralisation continuing in a specific direction that has not yet been closed off by drilling. “Open” means the mineralisation extends beyond current drilling limits. For investors, this matters because additional ounces may lie beyond the currently drilled area, offering potential for future resource expansion.
When intercepts sit outside an existing Mineral Resource Estimate, they indicate growth potential — the resource may be expanded beyond 460,000oz at the next re-estimation, pending successful step-out drilling and geological modelling.
The under-drilled East Shear
Historical mining and drilling at Mt Martin focused on the North Shaft, West and Main Shears. The East Shear, by comparison, remains relatively under-explored despite its >1km strike length.
Recent drilling is reported to have confirmed grade continuity down-plunge and identified additional high-grade shoots that remain open. The sparsity of drilling along the East Shear corridor offers potential for further discoveries between known mineralised zones.
Managing Director Graeme Gribbin
“Importantly, these results provide us with a new platform for understanding the best corridors for resource growth. They complement our broader strategy of expanding our 1 million-ounce gold resource base.”
This gives management a geological framework to prioritise future drilling campaigns aimed at resource expansion and feeds directly into the company’s stated goal of building a >1 million-ounce resource base across its portfolio.
An integrated growth strategy across the Lefroy portfolio
Mt Martin sits within Lefroy Exploration’s broader portfolio of advanced gold assets, which collectively target expansion beyond 1 million ounces in total resources. The company is pursuing a low-cost development pathway via profit-share mining agreements, with Lucky Strike (79,600oz @ 1.95 g/t Au) already in production under such an agreement.
Mt Martin (460,000oz @ 1.60 g/t Au) and the high-grade portion of the Burns resource (159,285oz @ 1.18 g/t Au) offer similar potential for development under comparable agreements, pending completion of scoping and resource evaluation work.
Resource modelling is reported to be underway to update the high-grade gold domain within the Burns Mineral Resource Estimate, with results targeted for the September quarter. The integration of new drilling results at Mt Martin and the Burns update reflect a parallel advancement strategy across the company’s gold assets.
Managing Director Graeme Gribbin
“Importantly, these results provide us with a new platform for understanding the best corridors for resource growth. They complement our broader strategy of expanding our 1million-ounce gold resource base. In parallel with the Mt Martin Scoping Study, we are moving quickly to translate this exploration success into improved project economics.”
Lefroy’s Gold Portfolio Overview:
- Lucky Strike: 79,600oz @ 1.95 g/t Au — mining underway
- Mt Martin: 460,000oz @ 1.60 g/t Au — scoping study in progress
- Burns high-grade: 159,285oz @ 1.18 g/t Au — resource update underway
- Total resources: Over 1 million ounces across the portfolio
The next major ASX story will hit our subscribers first
What’s next — Scoping Study and step-out drilling
The company has outlined a clear roadmap for advancing both Mt Martin and Burns in parallel, with near-term catalysts including:
-
Mt Martin Scoping Study — advance to completion in the September quarter. The Measured Group will progress pit optimisation engineering, processing plant layouts, infrastructure logistics, and project economic assessments.
-
Exploration and resource extension — integrate the new East, North Shaft and Main Shear intercepts into Mt Martin 3D geological wireframes and incorporate the Scoping Study findings to guide the next phase of step-out drilling.
-
Burns resource revision — advance geological domaining within the Burns high-grade zones to update the resource modelling, with revision of the Burns high-grade portion of the Mineral Resource Estimate targeted for the September quarter.
The parallel advancement of Mt Martin and Burns positions Lefroy for a high-value growth profile, with momentum building across its advanced gold portfolio. Integration of exploration success into improved project economics remains the stated focus for the company.
Get Gold News Before the Market Reacts
Join 30,000+ investors receiving FREE real-time ASX gold alerts with expert analysis delivered within minutes of release. Click the “Free Alerts” button at Discovery Alert to get breaking mining news and in-depth coverage the moment announcements hit the ASX.