LKY begins aerial surveys at Mojave Project

Our US critical minerals Investment Locksley Resources (ASX: LKY) just started geophysical surveys across its Project in California.

LKY’s ground is right next door to $18BN MP Materials and is planning its first drill program this quarter.

LKY will be looking to map key geological structures with more detail on both its antimony and rare earth elements (REEs) targets.

The magnetic survey will focus on identifying NNE-SSW structures known to host mineralisation at the Desert Antimony Mine and Hendricks Prospects.

(Source)

What’s next for LKY?

Drilling (this quarter) 🔄

LKY expects drilling to start this quarter, with first results expected before the end of this year. (Source)

LKY has received approval for its expanded Plan of Operations (“POO”) to be approved (which is LKY expanding the size of its currently permitted drill program).

With the rare earths drill program, LKY plans to test areas where a number of high grade rock chip samples were found, grading 1.20% to 6.87% TREO (rare earths).

With the antimony drill program, LKY plans to test for the extent of mineralisation near the historical antimony mine.

Here is where LKY’s initial drilling program is scheduled:

(Source)

Secure licence agreement with Rice University 🔄

Now that LKY has signed a partnership agreement with Rice University, the next stage will be to secure a larger licence deal over whatever technology is developed from the R&D agreement.

This will take some time to work out the IP sharing and mutual development of the technology.

Updates on potential funding opportunities🔄

With LKY’s appointment of GreenMet we would like to see progress on US funding pathways.