Lefroy Exploration Limited announced that a new reverse circulation (RC) drilling program has commenced at the Lucky Strike Prospect near Kalgoorlie. The infill drill program totaling approximately 4,000m will focus on evaluating 480m of strike of shallow oxide gold mineralisation hosted by a Banded Iron Formation (BIF) which was identified from multiple phases of step out (80m) drilling during 2019. The results of that step out drilling confirmed the continuity of the BIF under transported cover to the south east and highlighted a deeply weathered (oxidised) metasedimentary sequence of rocks, including BIF, wedged between a hanging wall andesite and a footwall basalt. The BIF in this location is preferentially oxidised to approximately 200m from surface. The confined weathering of the BIF is interpreted to represent an oxidation channel down a structure or alteration zone that is open along strike. The BIF is strongly oxidised, maintains a consistent down hole width of approximately 12m and has sharp contact relationships with the hanging and footwall shale units. The main BIF unit at Lucky Strike has a strike length of 740m and is open. Early interpretation by the Company, and recent Company research, suggests these are Algoma type BIF units. The most recent phases of RC drilling intersected impressive shallow oxide gold intersections within the BIF that confirm and reinforce the interpretation of a new BIF hosted plunging lode centered on the impressive intersection in hole LEFR140 (18m @6.57g/t Au from 68m) that is open down plunge. This lode and the plunge geometry are further supported by the intersection in LEFR146, also in oxide BIF, and which is open. The plunge orientation of this new lode is consistent with that observed from drilling in the main drilled area of Lucky Strike The closer spaced drill test around LEFR140 delivered additional high-grade intersections but also demonstrated the geometry and extent of the BIF hosted mineralisation. The wide (80m or 160m) spaced drill sections with holes at 40m centres can broadly scope out the extent of the system but, it can overlook the short strike length of individual lodes. This provides support to the Company's interpretation that there is potential for additional near surface high grade ore shoots along a 400m strike length of the BIF that has only been evaluated by wide spaced RC drilling. The current drilling program is designed to test for additional high-grade mineralisation positions. The proposed drilling will infill the existing wide spaced drilling to a nominal 40m by 20m grid spacing and evaluate the BIF host system to a vertical depth of approximately 150m. As noted in the LEX ASX release dated 20 November 2019, this new drilling will be incorporated with existing drilling to support the delivery of a maiden resource for Lucky Strike prior to June 2020. The drilling program is expected to be completed by mid-February, with final results anticipated later that month.