Join our daily newsletter At The Bell to receive exclusive market insights
- Locksley Resources (LKY) completes a 1066.2 line kilometre helicopter borne magnetic and electromagnetic survey at the Tottenham Project in NSW
- The aim of the survey was to explore the areas between the Tottenham and CZ deposits and test the line data over previously identified anomalies
- Diamond core from the Jimmy Woodser and Larkings prospects has been logged and additional samples have been taken with results expected in four to six weeks
- Further, drilling at the Burdenda area is on hold due to waterlogged ground conditions but it is hoped the area will be dry enough in the next two weeks
- Locksley ends the day in the grey with shares trading at 12 cents
Locksley Resources (LKY) has completed a 1066.2 line kilometre helicopter borne magnetic and electromagnetic survey at the Tottenham Project in NSW.
The survey was completed over parts of EL6592, EL9307 and all of EL8384 and were highly effective in detecting copper orebodies in the area.
The aim of the survey was to explore the area between the Tottenham and CZ deposits, test the line data over previously identified anomalies and provide further data on untested anomalies.
A brief examination of the data shows that anomalies are present but need to be filtered of man-made features and overburden.
Compilation and processing of the data is expected to take four to seven weeks.
Diamond core from the Jimmy Woodser and Larkings prospects has been logged and additional samples have been taken with results expected in four to six weeks.
Rock chip sampling has detected four target areas with up to 2.2 per cent copper, 1.4 parts per million (ppm) gold and 32 ppm silver encountered.
Drilling at the Burdenda area is on hold due to waterlogged ground conditions but it is hoped the area will be dry enough in the next two weeks.
Locksley has ended the day in the grey with shares trading at 12 cents.
