When combined with the lower target numbers, the larger conceptual target brings the total estimated volume to about 483,000 cubic metres, which, when applied to an estimated specific gravity of 2.86, delivers a total tonnage of between 772,000 and 1,382,000 tonnes.
A 23-kilogram first-pass sample taken in September returned 9.6 per cent antimony and produced a premium 68.1 per cent concentrate in metallurgical tests, meeting industrial and defence specifications.
The standout result, which nudged 95 per cent of what the company described as the theoretical maximum 71.68 per cent achievable, came from just two rounds of preliminary, rougher, regrind and cleaner flotation tests.
The company says a more representative 325-kilogram bulk sample has since been collected for metallurgical testing, coming in at up to 7.8 per cent antimony. Indications so far suggest the bigger test material could deliver a similar concentrate to the smaller sample.
The bulk sample results have also helped Locksley sharpen its modelling ahead of an early mine restart. Its studies suggest the company may be able to immediately target low hanging fruit of up to 2,000 tonnes of ore from accessible underground faces using either selective jack-leg mining or slightly widened tunnels for small machinery.
Moving forward, the company is gearing up for its first drilling campaign at the historic mine, expected to kick off in the new year. The program has already been permitted and together with more mapping and sampling will aim to convert parts of the system into a maiden mineral resource.
The timing of the exploration target’s release could hardly be better or more aligned with US policy. Although antimony is classed as essential to defence, electronics and advanced battery systems, America still relies almost entirely on an overseas supply.
With a US$191 million (A$288M) letter of interest already secured from the US Export-Import Bank and domestic agencies aggressively backing critical-mineral projects, Locksley’s new numbers position it squarely within the country’s strategic crosshairs.
What was once a long-abandoned antimony mine in the Mojave Desert is fast morphing into a geo-politically charged modern development story. If drilling delivers what the new exploration target suggests – or anything close to it, the Desert Antimony mine could become a cornerstone of the United States’ push to rebuild its own supply chain – and Locksley looks like it will play a big part.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
