Lexington Gold (LEX) has reported positive assay results from its recently completed surface exploration sampling programme at the Carolina Belle Project in central North Carolina.

Lexington’s Carolina Belle Project which is located in central North Carolina, United States, comprises a total of 391.98 acres covering both the historical Iola and Uwarra Mining areas. 

The US-focused gold exploration and development firm said assay results received from the sampling programme have demonstrated new areas of alteration and mineralisation, including a new gold anomaly identified over an initial surface area of approximately 350m x 250m.

Individual surface rock assay samples returned up to 17 grammes per tonne ("g/t") of gold while 10 samples assayed in excess of 1g/t of gold out of a total of 37 samples. In particular, selected gold assay results over 1g/t included; 17g/t; 5.1g/t; 3.5g/t, 3.2g/t; 2.7g/t; and 2.2g/t.

A total of 270 soil samples were also taken and assayed on a 50m x 100m grid spacing. Overall, the Company told investors that its soil and surface rock sampling programme has successfully evaluated and extended the known prospects within the Carolina Belle Project and identified new areas of alteration and mineralisation as well as additional drill targets. 

Shares in Lexington Gold have increased by over 60% in value since the beginning of the year. The stock was trading 3.75% higher this morning at 4.15p following the news.

"We are delighted to receive such positive assay results following our recently completed surface exploration programme at Carolina Belle,” said CEO of Lexington, Bernard Olivier.

He added, “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. With several gold assay results over 1g/t, including one at 17g/t, 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, the Group said it is hopeful that, dependent on drill rig availability and suitability, it can incorporate a comprehensive drill programme at the project into a planned Phase 2 drilling campaign.

Lexington believes there is potential at the Carolina Belle Project for it to extend the existing zones of gold mineralisation along the lithostratigraphic horizon and discover additional mineralised areas including feeder veins and alteration associated with a larger system.

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