Locksley Resources Ltd (ASX:LKY) Exploration Update

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Locksley Resources Limited provides an update on activities at the Tottenham Project in central New South Wales.

 

Exploration Update

  • Tenement transfer from Mincor to Locksley complete.
  • Petrography studies indicate simple mineralogy amenable to conventional processing.
  • Multiple drill holes examined in NSW government archive.
  • Major helicopter borne electromagnetic survey scheduled for May.
  • Aircore programme scheduled for May.
  • Strong pipeline of targets requiring exploration.

Tenement Transfer

 

Mining, Exploration and Geoscience (MEG), Regional NSW have advised that transfer of Exploration Licences 6592, 6656, and 8384 from Mincor Copper Pty Ltd to Locksley Resources Limited have been registered. These 3 tenements, that form the majority of the Tottenham Project, are now formally registered as 100% owned by Locksley Resources Limited.

Relogging and sampling of Historic Drilling

 

19 historic drill holes, for over 2,600m of drilling from the Tottenham Project are stored at the W B Clarke Geoscience Centre (NSW Core Library) at Londonderry in western Sydney. Many of these holes from the 1960’s and 1970’s were only sampled in areas of visible high grades and not assayed for gold. During January and February holes C, D, V1, R1, R2, R3, CW1, B1, TL430D224, TL424D183, TF204D510, 7A, 7B, 8S-50’, 8S, 8S+50’, 9S, 10S were systematically relogged and had additional sampling undertaken. Assay results have now been received and anomalous results are summarised in the attached table along with collar location details.

Six holes from the Larkins, Jimmy Woodser, and Nelsons Prospects remain to be examined.

Next Steps

 

Over the coming months the following activities are being progressed:

  • Approximately 1,000 line km of “Helitem” airborne electromagnetic survey to be flown over the entirety of EL8384 and two parts of EL9307 in May.
  • Aircore drill testing of magnetic and electromagnetic anomalies on EL6656.
  • Reverse circulation (RC) drill testing of extensions to the historic Jimmy Woodser Mine.
  • RC infill and extensional drilling at the Orange Plains Deposit.

View the full announcement here.

 

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