Exploration Update

• Follow-up sampling of the anomalous catchment areas on the North Block have been completed, with assay results expected in Q1 2024.
• 245 stream sediments and 27 rockchip samples were collected during the program.
• The sediment sampling program focused on following up on multiple highly elevated REE stream sediment catchments announced in September 2023.
• The North Block of the Mojave Project is immediately adjacent to the mountain Pass REE Mine, the only operating REE mine in the US.

Locksley Resources Limited (ASX:LKY) is pleased to announce the completion of the follow-up stream sediment sampling program for high-grade REE’s anomalism within the North Block Claim – Mojave Project, CA.

Locksley Resources Limited Managing Director, Steve Woodham commented:

"The follow-up work at the Mojave North Project is encouraging, Stream sediment numbers of this magnitude are usually a good sign that we are getting close to the source. We are confident that we are closing in on a geological feature with considerable REE potential. Locksley will be mobilising a field crew before the end of February to complete the follow-up sampling and mapping work which should provide the Company with a strong foundation for a drilling campaign. I look forward to keeping Locksley shareholders informed of the results." 

Figure 1. MOJAVE NORTH BLOCK - Catchments displaying highly anomalous REE mineralisation

in stream sediment samples along with follow-up sample locations from recent field activities

Locksley Resources Limited through its 100% owned subsidiary Enigma Strategic Minerals LLC collected 245 stream sediment and 27 rockchip samples within the Company’s North Block Claim, located in San Bernardino Country, California. Samples were collected from dry stream beds over a broadly spaced area within the North Block as an early exploration tool to cover large areas of the claim with the aim of focusing on the source(s) of the highly elevated REE’s.

Samples are currently being processed and assayed at the Bureau Veritas Laboratory located in Sparks, Nevada. Locksley Resources will release the results once they have been received.

The recently completed sampling program was designed to follow up on the anomalous stream sediment results from the North Block to narrow down the potential outcropping source of the highly anomalous results. In addition to followed-up stream sampling, reconnaissance rock chip sampling was also conducted in areas where potential shedding/erosion of REE was concurrent within the erosional/ depositional system.

Figure 2: MOJAVE NORTH BLOCK – Folded gneiss outcrop located alongside a dry stream bed

View the full announcement here.

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