Locksley Resources Unveils Promising Antimony Results at Mojave Project
LOCKSLEY RESOURCES LIMITED (LKY) Share Update September 2024 Monday 23rd
Locksley Resources Announces High-Grade Antimony Results at Mojave Project
Locksley Resources Limited (ASX: LKY) has announced significant high-grade antimony results from their exploration program at the Mojave Project in California, USA.
Instant Summary:
- Rock chip samples returned as high as 11.2% and 8.33% Antimony (Sb).
- Exploration team has commenced a detailed exploration program at the Mojave Project.
- Focus on surface mapping and sampling to understand the grades, widths, and strike continuity potential.
- Antimony is a critical mineral for military, energy, industrial, and consumer applications.
- China has cut off the global supply of antimony as of 15 September 2024.
Exploration Program and Initial Findings
Locksley Resources Limited (ASX: LKY) is excited to report that their exploration team has commenced a detailed exploration program at the Mojave Project, focusing on the high-grade Desert Antimony Mine. The recent rock chip samples have returned impressive results, with antimony (Sb) concentrations as high as 11.2% and 8.33%.
The team is conducting surface mapping and sampling to increase their understanding of the grades, widths, and strike continuity potential of the historic Desert Antimony Mine. This follows a holistic review of the Mojave Project, which highlighted the significant potential of this site.
Importance of Antimony
Antimony is listed as a critical mineral by the U.S. Department of Interior due to its wide range of applications in military, energy, industrial, and consumer sectors. The United States currently has no domestic primary mined source of antimony, making these findings particularly significant.
The global supply of antimony has been further constrained by China's recent decision to cut off exports as of 15 September 2024. This development has heightened the strategic importance of Locksley's Mojave Project.
Future Steps
Locksley Resources' Managing Director, Steve Woodham, expressed optimism about the findings, stating, 'Coming off the back of the significant antimony assay results from our holistic review of the Mojave Project, our exploration team has started follow-up work at the high-grade Antimony Mine site. We are conducting surface mapping, rock chip, and soil sampling to increase our understanding of the grades, widths, and strike continuity potential of the historic Desert Antimony Mine.'
The Board of Directors looks forward to reporting the results of the current program as soon as practicable.
The high-grade antimony results from the Mojave Project are likely to have a positive impact on Locksley Resources' stock. Given the critical nature of antimony and the recent supply constraints from China, these findings position Locksley as a potential key player in the global antimony market. Investors may see this as an opportunity to capitalize on the increasing demand for antimony in various applications.
Investor Reaction:
Analysts are likely to react positively to the news, given the high-grade results and the strategic importance of antimony. The recent supply constraints from China could drive up the value of Locksley's findings, making the Mojave Project a significant asset for the company.
Conclusion:
Investors should keep a close eye on the ongoing exploration results from Locksley Resources' Mojave Project. The high-grade antimony findings could have substantial implications for the company's future and the broader market. Staying informed about further developments will be crucial for making informed investment decisions.