Locksley crowns hefty 10Mt at 1.10% copper and 0.32gt Greater Tottenham resource as Iron Duke drilling nears

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An updated Greater Tottenham resource brings three deposits together ahead of planned drilling in the Lachlan Fold belt of central ... Read More The post Locksley crowns hefty…

Digging in: Locksley is preparing to test Greater Tottenham after updating its resource base. Pic: Getty Images

Special Report: Locksley Resources is laying the foundation for future growth at its Greater Tottenham project in the Lachlan Fold Belt of central NSW after reporting an updated mineral resource containing 110,000t copper and 100,000oz gold.

The updated JORC 2012 estimate totals 10Mt at 1.10% copper and 0.32g/t gold across the Mt Royal, Carolina and Iron Duke deposits.

All three deposits remain open, with a separate exploration target outlining potential extensions around the known lodes.

Locksley Resources (ASX:LKY) holds the Tottenham licences and an option to acquire 100% of Iron Duke.

Mt Royal and Carolina now total 8.9Mt at 1.09% copper and 0.27g/t gold, containing 97,000t of copper and 78,000oz of gold.

Copper grade is up 56% while contained copper is up 37% on the previous estimate, reflecting rebuilt geological models, revised density and estimation parameters, higher reporting cutoffs and the introduction of optimised pit shells.

The update includes about 3Mt of Indicated material at Mt Royal and Carolina for the first time.

Across Greater Tottenham, about 80% of resource tonnes sit within optimised pit shells.

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