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Lexington Gold Ltd - Bermuda-based mineral explorer with projects in US - Shares rise as mineral resource estimate for the Loflin side of the Jones-Keystone-Loflin project in the Carolinas increases by 27%. An updated independent JORC mineral resource estimate ups Loflin deposit to 2.6 million tonnes at 0.99 grammes per tonne gold for 82,700 ounces of contained gold. In September 2021, the resource estimate put the contained gold at about 65,000 ounces.
Believes there is potential for ‘significant further increase’ in resources for Loflin and Loflin South through additional drilling. Chief Executive Bernard Olivier is ‘very pleased’ with upgrade.
‘We continue to believe that the recent drilling results will also enable the establishment of a significant maiden JORC resource estimate for the nearby Jones-Keystone of potentially up to 100,000 ounces,’ he adds.
Current stock price: 3.10 pence, up 8.8% on Monday
12-month change: down 23%
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