Drilling blitz sets up Locksley for important copper-gold resource upgrade

Locksley Resources (ASX:LKY) has been featured in Stockhead discussing the drilling results at the historical ‘Tottenham’ copper project in central NSW.

Drilling-blitz-sets-up-Locksley-for-important-copper-gold-resource-upgrade

Drilling results at Locksley Resources’ historical ‘Tottenham’ copper project in central NSW “confirm the consistency and robust nature of the deposits” ahead of an all-important resource update.


Locksley Resources Ltd (ASX:LKY)

 

Locksley_Colour

 

Locksley Resources (ASX:LKY) only went public in July of this year, although it was founded in 2018 with the goal of financing, exploring, and developing the Tottenham copper project in NSW's mineral-rich Lachlan Fold Belt.

The article states:

"The 470sqkm ‘Tottenham’ project represents an impressive group of gold and copper assets.

About 3907 tonnes of copper and smaller amounts of gold and silver were mined by hand from the Bogan River, Mount Royal – Orange Plains, Carolina, and Ace deposits; mostly between 1905 and 1917."

Mount Royal

By today's standards, it remains largely underexplored.

The article states: 

"Locksley’s early drilling priorities include upgrading these potential project resources to JORC 2012 standards – a must-have for ASX listed project developers — and making them bigger.

Carolina is the most consistently mineralised deposit, with an exploration target of 3.4Mt at 1.5% Cu, 0.5g/t Au for 52,000t copper and 59,000oz gold.

The Mount Royal – Orange Plains target has an exploration target 3.9Mt at 0.9% Cu, 0.3g/t Au for 34,000t copper and 30,000oz gold.

Locksley’s early drilling priorities include upgrading these potential project resources to JORC 2012 standards – a must-have for ASX listed project developers — and making them bigger."

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Resource upgrades

 

The article comments:

"Once all assay results from the recent programs are received, data will be sent to an independent consultant to calculate a resource for the Mount Royal to Orange Plains and Carolina Deposits.

Locksley expects this to be released in Q1 next year, followed by a scoping study – the first proper look at the economics of building a mine."

Steve-Woodham

"Locksley are delighted by these very positive drilling results. The copper numbers confirm the consistency and robust nature of the deposits."

Steve Woodham, Managing Director, Locksley Resources Ltd

 

Read the full Stockhead article here.