Lexington Gold (AIM:LEX), gold exploration company focused on South Africa's Witwatersrand Basin, said its Kroonstad Project has progressed through data verification following a substantial expansion of its historical drilling records.
Independent consultancy Shango Solutions is working to upgrade part of Kroonstad's existing non-code compliant grade-tonnage estimate, which ranges from 6.06 million to 62.41 million ounces of gold at grades of 4.96 g/t to 11.54 g/t, to JORC (2012) Exploration Target status.
Since Shango's engagement on 8 July, the number of catalogued primary drillholes has risen from 12 to 64, alongside 73 drillhole deflections, drawing on records sourced from the Council for Geoscience and historical data supplied by AngloGold Ashanti.
Kimberley Reef sampling data has been identified in 22 primary drillholes and 55 deflections, with grades recorded up to 5.10 g/t of gold.
Harmony Gold has granted Lexington access to its Free State core storage facility to investigate historical core that may help verify stratigraphy and reef intersections.
"With 64 primary drillholes now being incorporated into the database compared with 12 previously, we believe we have a substantially stronger technical foundation," said Bernard Olivier, Lexington Gold's chief executive.
The company expects to complete database verification, 3D geological modelling and Exploration Target estimation during the fourth quarter.
News Intelligence what this means for the company
Lexington Gold has expanded its Kroonstad drilling dataset from 12 to 64 primary drillholes since July, with independent consultant Shango Solutions now preparing a formal JORC-compliant Exploration Target estimate due in Q4. The 433% increase in catalogued drillholes—sourced from the Council for Geoscience and AngloGold Ashanti records—provides a materially larger technical foundation for what was previously a non-code-compliant grade-tonnage range of 6.06–62.41 million ounces at 4.96–11.54 g/t.
- Harmony Gold's grant of access to its Free State core storage facility signals operational cooperation on historical verification, reducing execution risk for the Q4 estimate.
Shango Solutions was engaged in July 2026 for a 16-week programme to produce a JORC-aligned Exploration Target, and this dataset expansion—now complete—removes a key technical bottleneck ahead of the formal estimate. The outcome in Q4 will determine whether the existing grade-tonnage range can be upgraded to a defensible exploration target or requires material revision.
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