Exploration Update

• Multiple REE targets have been identified within the North Block of the Mojave Project post the field program in August 2023
• The recent stream sediment sampling program at the North Block returned highly anomalous total rare-earth oxide (TREO) results
• Six (6) catchment areas were identified in the North Block as prospective for ongoing REE exploration with assays ranging from 0.103% to 0.26% TREO.
• Follow-up sampling of the anomalous catchment areas has commenced and has potential to identify additional high-grade rare earths within the broader Mojave Project Area.
• The North Block of the Mojave Project abuts the Mountain Pass Mine land area, the largest REE mine in the US and largest producer of high-grade rare-earth materials in the western hemisphere, delivering approximately 15% of global rare earth supply.

Locksley Resources Limited (ASX:LKY) completed mapping, rock-chip and stream sediment sampling in August this year at the Mojave REE project. Locksley received encouraging results in both rock-chip and stream sediment assays. The Company is pleased to announce that a follow-up work campaign has commenced for high-grade REE’s on the North Block of the Mojave Project, California, USA. Stream sediment sampling on the North Block Claim has been designed to locate the source of the elevated REE anomalies.

Locksley Resources Limited (ASX:LKY) (“Locksley” or “the Company”) is pleased to announce commencement of a follow-up sampling program over the North Block at the Mojave Project which previously returned seven (7) anomalous results ranging from 0.103% (1,030ppm) to 0.26% (2,600ppm) TREO2 . The previously reported results represent a new area of REE potential amongst Mojave’s North Block, a large area of 164 claims totalling 14.9km² and highlights the potential for additional High-grade REE mineralisation in California, USA.

Locksley Resources Limited Managing Director, Steve Woodham commented:

"The stream sediment sampling program completed at the North Block previously returned assays ranging from 0.103% to 0.26% TREO, highlighting the prospectivity for further REE discoveries in the North Block Claims. The Company remains well funded and has commenced follow-up stream sediment and reconnaissance rock-chip sampling at the North Block, the Board look forward to reporting the results of the current program as soon as practicable." 

Figure 1: Catchments displaying highly anomalous REE mineralisation in stream sediment samples

(LKY Announcement 28th September 2023)

Locksley Resources Limited through its 100% owned subsidiary Enigma Strategic Minerals LLC collected fifty-one (51) stream sediment samples within the Company’s North Block Claim, located in San Bernardino Country, California. The first pass stream sediment sampling program was designed to collect samples from dry stream beds over a broadly spaced area within the North Block as an early exploration tool to cover large areas of the claims with the aim of identifying smaller areas of interest that require additional ground reconnaissance. Six (6) catchment areas were identified as potential source areas for REE mineralisation in the North Block of the Mojave Project (Figure 1). Seven (7) stream sediment samples have identified highly anomalous REE potential, resulting in erosion from nearby surrounding outcrops. The sampling points with anomalous elevated REE geochemistry, indicate the possibility of a REE deposit upstream from where the samples were collected. The current program is designed to follow-up the anomalous stream sediments results from the North Block to narrow down the potential outcropping source of the highly anomalous results. In addition to further stream samples, reconnaissance rock chip sampling will take place upstream from the already identified catchments shedding REE’s.

Figure 2: Locksley field staff actively sampling on the North Block 

View the full announcement here.

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