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Lefroy Exploration (ASX:LEX) - Managing Director, Wade Johnson (right) - The Market Herald
Managing Director, Wade Johnson (right)
Source: Twitter (@Lefroy Exploration)
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  • Results from recent drilling by Lefroy Exploration (LEX) have confirmed the prospectivity of its Bullseye nickel target within the Lake Johnson Project in WA
  • The 22-hole aircore drilling program took place in December 2020
  • Two traverses drilled across the interpreted Bullseye anomaly and returned promising shallow nickel intersections in ultramafic rocks
  • Best results included 27 meters at 0.40 per cent nickel and 0.02 per cent cobalt from 16 metres
  • The company plans to use further aircore drilling to confirm the extend of the ultramafic rocks interpreted from geophysical data at Bullseye
  • Lefroy Exploration last traded at $1.36

Results from recent drilling by Lefroy Exploration (LEX) have validated the prospectivity of its Bullseye nickel target within the Lake Johnson Project in WA.

The company received drilling results from a 22-hole, early-stage, aircore drilling program that took place at Bullseye, 120 kilometres west of Norsemen, in December 2020.

Two traverses drilled across the interpreted Bullseye anomaly and returned promising shallow nickel intersections in ultramafic rocks. Best results included 27 meters at 0.40 per cent nickel and 0.02 per cent cobalt from 16 metres.

The aircore drilling follows up previous shallow nickel drill intercepts, to help the company gain a better appreciation of the underlying geology associated with the large ovoid-shaped aeromagnetic anomaly.

Reinterpretation of the recent and previous drilling with geophysical data by Lefroy suggests the broad magnetic feature may represents a buried ultramafic intrusion that has potential to host nickel sulphide mineralisation.

“We are excited by the results generated from our maiden drill program at the Bullseye target in our Lake Johnston project,” said Lefroy Exploration Managing Director Wade Johnson.

“It is especially pleasing to deliver promising results after targeting the area based on the coincident magnetic feature and previous nickel intercepts from drilling in 1997 that was never followed up.”

“Bullseye adds to the growing pipeline of early-stage generative drill targets at Lake Johnston. We will schedule more drilling in Q3/21 at Bullseye to map out the prospective ultramafic rocks in our search for Ni sulphide mineralisation.”

The company plans to use further aircore drilling to confirm the extend of the ultramafic rocks interpreted from geophysical data at Bullseye.

Lefroy Exploration last traded at $1.36 on Thursday 15 April.

LEX by the numbers
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