Lexington Gold makes further progress on drilling at Carolina Belle

Carolinas-focussed exploration and development company Lexington Gold updated the market on the ongoing 5,000 metre reverse circulation drilling programme at Carolina Belle on Thursday, reporting that it was progressing to schedule.

The AIM-traded firm said 17 drill holes had been completed for a total of 1,297 metres drilled to date, out of the planned 5,000 metre total for the phase two drilling programme.

Logging and sampling of the initial 15 drill holes had been completed to date, it added.

Four metre composite samples had been prepared from the first 15 drill holes and dispatched to SGS Canada's Vancouver laboratory for assay, with an expected turnaround time of six to eight weeks.

“We are pleased with the progress made over the last two weeks and our initial visual observations from the drilling to date are very encouraging having encountered visible signs of alteration, quartz veining and sulphides in the drill chips,” said chief executive officer Bernard Olivier.

“We are now over halfway through our planned campaign at Carolina Belle and, once completed, the drill rig will then mobilise and commence drilling on our JKL Project.

“We look forward to updating the market further as drilling progresses and results are received over the coming months.”

At 1455 GMT, shares in Lexington Gold were down 2.29% at 3.42p.