Locksley Resources samples 12% rare earths at Mojave, right next door to the world class Mountain Pass mine
Very high-grade total rare earth oxides (TREO) have been discovered at the El Campo deposit at Locksley Resources’ Mojave project in southern California.
In June, Locksley Resources (ASX:LKY) snapped up the highly-prospective Mojave REE project next door to MP Materials’ Mountain Pass mine – the largest rare earths project in the Western world, accounting for ~15% of global supply.
With averages of 7% TREO – a sizeable jump of 0.1-4% TREO for most global deposits – Mountain Pass produces pure forms of primarily lanthanum, cerium and highly-sought after neodymium and praseodymium (NdPr).
The miner has just started shipping refined rare earths products out of its recently commissioned processing facility – handy for explorers like Locksley to have down the road.
New results from 12 rock chip samples from an identified outcropping gossan at the El Campo prospect ranged from 1.03-12.1% TREO along an interpreted mineralised horizon that extends for ~860m.
The highest grade samples collected are associated with a line of historic workings developed on the mapped gossan earlier this month, with seven samples >46m strike returning >1% TREO and five of those over 3% TREO (including a whopping 12.1% TREO).
The percentage of NdPr for the samples >1% TREO average 26% NdPr and the high-grade sample that returned 12.1% TREO assayed 2.6% neodymium oxide (Nd2O3), 0.59% praseodymium oxide (Pr2O3), 4.88% cerium Oxide (Ce2O3) and 2.32% lanthanum oxide (La2O3).
The stellar results have Locksley accelerating exploration programs. The company has lodged applications with the Bureau of Land Management for core drilling to test the down dip continuity of mineralisation, with first priority holes targeting the down-plunge at El Campo’s monster 12.1% TREO lode.
“These grades are significant and provide the group with strong drilling targets which will commence on receipt of the drilling approvals,” Locksley managing director Steve Woodham says.
“Given the location of the project and its proximity to existing infrastructure, the identification of high-grade TREO samples represents a unique opportunity for the company to commit to a drilling program which will target the high-grade surface samples.
“The company is well funded to commence further work and the board look forward to informing the market closer to the commencement of drilling.”
Locksley also owns the Tottenham copper project in New South Wales, where recent drilling for 18 RC holes confirmed the 9.86Mt @ 0.72% Cu, 0.22% Au Orange Plains deposit resource is open at depth.
Drilling at hole TORC030 returned 8m @ 1.57% Cu and 0.16% Au with a higher-grade core of 2m @ 5.03% Cu and 0.53% Au.
Woodham says DHEM surveys are being planned for the drillholes which encountered mineralisation and, if successful, will provide further drill targets.
“The recent drilling campaign also tested regional EM anomalies,” he says.
“Follow-up drilling is required to continue expanding the project parameters. Locksley is well funded to continue our commitment in adding to the copper-gold resource at Tottenham.”
This article was developed in collaboration with Locksley Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.