Locksley Resources Limited (ASX:LKY) - Trading with Barclay Pearce Capital
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Today we are featuring Locksley Resources Limited (ASX:LKY) and the future demand of copper for the EV thematic.
“We have already seen metals like lithium and cobalt take center stage in the market, but it is estimated that metals such as copper, nickel, and rare earths will see a larger portion of their demand come from clean energy in the years to come,” says Brandon Rakszawski, director of exchange-traded-fund product development at VanEck."
Today, LKY released an announcement for the results of its diamond drilling program at its Tottenham Prospect.
Locksley Resources Limited (ASX:LKY) is pleased to advise that assay results have been received for 27 drill holes completed in August, September and October 2021 at the Tottenham Copper Project in central New South Wales.
"Locksley are delighted by these very positive drilling results. The copper numbers confirm the consistency and robust nature of the deposits. The project continues to deliver additional copper value as the Company moves toward a JORC 2012 compliant Resource calculation.
Steve Woodham, Managing Director of Locksley Resources Ltd
Managing Director of Locksley, Steve Woodham, also commented:
"We look forward to updating the market as additional pending results come in.The deposits remain open in multiple directions including down plunge and along strike."
Our Senior Mining Analyst, Alex Sutton, comments on Locksley's positive drilling results.
There are three main prospects within the Tottenham Project;
- The Carolina
- Orange Plains
- Effies Ace Prospects
The significant exploration results from these prospects are outlined below along with the disclosure of an Exploration Target.
"Mineralisation has been intersected across diamond holes drilled at the Carolina deposit with shallow intersections that have returned high economic grades of copper. In addition, the intersections are also reasonably thick which means economic extraction could take place at this deposit."
Alex Sutton, Senior Mining Analyst
Having entered the market as a spin-out from Mincor and Bacchus Resources, Locksley is a copper explorer searching for minerals key to the EV revolution.
The Tottenham project is the Company’s key project in the Lachlan Fold Belt in Central NSW. The area has produced some 4,000 tonnes of copper, according to the NSW Geological survey. This indicates that the project area has potential for further discovery and has not been explored to its full potential.
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