LONDON (ShareCast) - (Sharecast News) - Lexington Gold announced the signing of a drilling contract with Logan Drilling USA on Wednesday, to begin a new exploration campaign at its Jennings-Pioneer Project in South Carolina, targeting gold, silver, base metals and tellurium mineralisation.
The AIM-traded firm said the programme built on its 2024 drilling results, which confirmed the presence of polymetallic mineralisation extending northeast of the historic Barite Hill open pit.

It said the new campaign would focus on both the Jennings Trend and the Barite Hill Trend, targeting volcanogenic and epithermal systems.

A minimum of 600 metres of diamond core drilling was planned, with work scheduled to begin in late May.

All necessary regulatory permits had been secured, with the campaign expected to take around two months, followed by a further two months for sample processing and assay results.

Lexington said the programme was aimed at expanding its understanding of the mineralisation and supporting future development plans at the Jennings-Pioneer site, located within the highly prospective Carolina Slate Belt.

"The start of new drilling at our Jennings-Pioneer Project marks an exciting next step in unlocking the potential of this highly prospective region," said non-executive chairman Ed Nealon.

"With the Jennings-Pioneer Project being located within the same Carolina Slate Belt as the successful third party Haile Gold Mine, and sharing many geological similarities, we believe our project holds significant promise.

"We are committed to advancing our exploration work systematically and responsibly, and look forward to updating shareholders with results from this new drilling programme in due course."

At 1154 BST, shares in Lexington Gold were up 7.54% at 3.28p.

Reporting by Josh White for Sharecast.com.

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