Locksley ups the ante on US antimony drilling blitz
The latest news sent the company's shares to yet another new high, up to 19 cents on a huge turnover. The share price is now a massive 955 per cent higher than it was at the start of May – putting the company close to claiming hallowed '10-bagger' status.
Locksley has lodged an application with the Bureau of Land Management (BLM) to more than double its current drilling program at the Desert prospect to 2180 metres in efforts to unearth what it says could be one of the highest-grade undeveloped antimony systems in the country.
The new drilling plans follow the company's recently oversubscribed capital raise, which ballooned Locksley's cash position to more than $6.5 million, leaving it fully funded and ready to go. BLM approvals are expected in September, with rigs set to roll soon after.
'The submission of this expanded plan is a major step towards unlocking the critical minerals potential of the Mojave project.'
Locksley Resources technical director Julian Woodcock
The expanded program now includes 13 reverse circulation holes to be drilled from 11 pads, targeting depths of 100m to 240m. Notably, the plan has been guided by fresh geological insights gleaned from a July structural mapping survey, which revealed three stibnite-rich, north-northeast to south-southwest trending vein systems and an additional previously unidentified east-west structure.
Further detailed 3D modelling on these corridors confirmed an expanded footprint for the prospect, which the company says will now undergo further probing from the drill rig to work up a JORC-compliant exploration target.
Locksley Resources technical director Julian Woodcock said: 'The submission of this expanded plan of operations is a major step forward in unlocking the critical minerals potential of the Mojave project.'
Locksley's ground could not be more strategically placed, sitting smack bang in the middle of America's critical minerals bullseye and right at the heart of Washington's mission to wrest back control of its critical minerals supply chain.
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The Australian
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