LKY continues to sample antimony from the Desert Antimony Mine in the USA

Our US critical minerals Investment Locksley Resources (ASX: LKY) is drilling its Desert Antimony Mine right now…

LKY started drilling early last week - mainly looking to see if the old mine (that's produced between 100 and 1000 tonnes of antimony (source)) has extensions trending to north and south.

Today, LKY put out a batch of “grab samples” (rock chips) which validates exactly that - a north to south trend running through the old mine workings:

(source)

Now, we wait to see what comes back from the drilling program… (hopefully its antimony trending in that same direction - north to south):

(source)

Then to see LKY integrate all that data into a 3D geological model that can be used to put together LKY’s mine restart strategy…

So far, LKY has:

• Started developing downstream antimony and rare earth processing tech with partners (Rice University, Columbia University and Hazen Research).
• Completed batch sampling programs and produced antimony ingots from ore that’s come out of its Desert Antimony Mine.
• Mapped potential extensions to the old Desert Antimony Mine ~60m to the north-east.
• Mapped a completely new target (a potential DAM repeat?) - the "Beefeater Shear" a 10-15 metre wide structure that could significantly expand the project.
• Started engineering partner selection for the pilot processing plant design.
• Started product qualification work - basically the precursor to discussions with potential customers/offtakers.
• AND received US$191M LOI from US EXIM + applied for US$43M in grant funding. (source) (source)

LKY is basically working backwards to get its multi-levelled antimony mine back into production.

Develop downstream processing tech, produce a downstream end product > get funding support for a restart > then do the drilling needed to prove scale for a final investment decision.

And the final piece of the puzzle, put all of the data from drilling, build a 3D geological model and put together a processing plant design suitable to bring the project back into production.

Here is a nice video summary of LKY's mine restart plan - including the processing facility design and downstream strategy:

Watch: LKY Desert Antimony Mine Restart Plan

Typically for mining companies everything works in reverse, but because LKY’s ground holds a previously producing antimony mine we think LKY has the right asset to go after a fast to market strategy.

What we don't know at the moment is the scale potential of LKY’s project...

Basically, how much antimony is still sitting inside the Desert Antimony Mine and whether or not the new targets are repeats/extensions to the old workings.

We are hoping this next round of drilling answers those questions.

Here was our working theory based on all of the mapping/sampling/surveys LKY had done to date:

(source)

And here is where LKY will be targeting with its first batch of holes:

(source)

We note the holes are all extensional to the old workings - so we should get a fairly good sense of how much bigger LKY can make that old mine.

Now we wait to see if drilling results deliver big extensions (or repeats) to the old workings…

IF drilling comes in we think it could bring with it a lot of corporate/government interest to LKY’s project.

What’s next for LKY?

Drilling at DAM for antimony 🔄

LKY has today started drilling at the Desert Antimony Mine (DAM).

LKY will be targeting to confirm extensions to the known antimony mineralisation to the north and south plus test for any east/west shear zones.

We are especially looking forward to seeing if LKY can prove whether or not its Desert Antimony Mine extends over the entire 1.2km of strike mapped earlier in the year…

(Source)

Drilling at rare earths at El Campo target 🔄

Following the drilling for antimony LKY will move to its rare earths targets (that sit within MP Material’s ground package).

There, LKY will be testing areas where previous rock chip sampling returned grades as high as ~6.87% TREO (rare earths) - here is where those targets sit.

(source)

Updates on LKY’s processing tech partnerships 🔄

Now LKY has signed partnership agreements with Rice University, Columbia University and Hazen Research.

Broadly, we want to see LKY progress the following across the three partnerships:

• Pilot plant design and metallurgical test work (Hazen and Rice)
• Production of representative samples for US industrial and defence qualification (Hazen)
• Commercial analysis and process optimisation (Hazen and Rice)
• Rare earth processing tech development (being done with (Columbia University)