Locksley Resources has set its sights on becoming a serious player in the Australian copper sector, stitching together a sprawling copper-gold district in central New South Wales after securing an option over the nearby Iron Duke project.
The newly formed Greater Tottenham Copper project includes Locksley's existing Tottenham resource of 9.86 million tonnes grading 0.73 per cent copper, 0.22 grams per tonne gold and 2 grams per tonne silver. Iron Duke adds a historical resource of 1.3 million tonnes grading one per cent copper and 0.6 grams per tonne gold, giving the company two established mineralised centres within the Lachlan Fold Belt.
Historic sampling at Iron Duke has reportedly returned rock chip and mine dump values up to 26.1 per cent copper, while previous drilling delivered intercepts including 13 metres grading 1.56 per cent copper and 4.48 grams per tonne gold from 37 metres.
Locksley technical director Ian Stockton said the Greater Tottenham project "hosts an established copper-gold mineral resource supported by brownfields growth and a substantial legacy dataset".
The company has outlined a two-pillar strategy. The first focuses on resource growth through targeted drilling of extensions to known copper-gold systems, including the high-grade Carolina deposit, while testing targets such as Mt Royal, Orange Plains and Bogan River. The second pillar aims to increase the economic upside of the district, according to the company.