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LEXINGTON GOLD
Letsema has acquired a 26% stake in Lexington Gold’s South African assets, Lexington Gold is a UK AIM listed gold exploration and development company
Lexington has tenement holdings in the Witwatersrand gold fields covering approximately 89,499 hectares.
Based on drill hole data, management estimates Lexington’s potential resource at ~37 million ounces of gold (non-Code compliant).
Lexington is believed to own the world’s largest Witwatersrand drill hole database compiled over a ten-year period, consisting of some 2,500 mother holes with their associated assays.
The assets of most proximate value are:
Bothaville – A shallow Kimberley reef exploration target with drilling commencing immediately.
Ventersburg – A shallow Kimberley reef exploration target with slightly lower grades than Bothaville.
Jelani JV – A JV asset with Harmony. Negotiations with Harmony are scheduled to commence in January 2024.
Early stage engagements have begun with another LSE listed gold and copper mining vehicle. This miner is primarily focused on developing assets and is well placed to partner down-stream of Lexington which is primarily focused on exploration.