Locksley Resources Limited (LKYRF) Produces High Grade Antimony Concentrate

Locksley Resources Ltd (ASX:LKY) (FRA:X5L) (OTCMKTS:LKYRF) is pleased to provide an update on the rapidly advancing metallurgical test work program being conducted on surface samples collected from the Desert Antimony Mine (DAM) Prospect.

Highlights

- Excellent high grade final flotation concentrate of 68.1% achieved from first pass rougher / regrind / cleaner flotation tests

- Concentrate is 95% of technical maximum stibnite grade of 71.68% showing minimal impurities

- Concentrate grade significantly exceeds marketable sales requirement of minimum 55%

- High-grade antimony (Sb) concentrate was achieved with only two preliminary tests, indicating minimal flowsheet development required to maximise both grade and recovery

- Flotation cleaning process involves recycling of tails with total antimony recoveries expected to exceed 80% based on flotation testwork results

- Work commencing to collect a bulk sample from the underground workings for further testwork and production of antimony ingot

Second stage cleaner flotation testwork has delivered a high-grade concentrate containing up to 68.1% antimony, substantiating that the Mojave Project has the potential to deliver feedstock superior to current market supply streams & prospects.

Grades at this level of purity advance the pathway to a high quality 100% Made in America antimony product aligned with US government priorities for a fully integrated antimony supply chain for defence and industrial base resilience particularly munitions, semiconductors and energy systems.

Metallurgical test work Program

Locksley metallurgical consultants, Independent Metallurgical Operations Pty Ltd (IMO) (subsidiary of SGS Australia) and Base Metallurgical Laboratories have advanced metallurgical testwork on samples from Locksley's Desert Antimony Mine (DAM) Prospect at the Mojave Project.

Locksley's rougher flotation products have undergone further metallurgical test work, including regrind and cleaner flotation stages, part of a standard antimony flowsheet. The results of this testwork have significantly exceeded the target objective, with a high-grade concentrate product of 68.1% Sb attained during cleaner stage test work (Figure 1, Table 1*). This is a material increase in grade from what was delivered in the initial test work, which produced a concentrate exceeding 30% in 5 out of 6 tests.

The updated metallurgical program has produced a concentrate grade far in excess of the minimum marketable grade of >55% Sb. Locksley's concentrate is approaching the theoretical maximum stibnitegrade of 71.68% Sb.

Antimony recovery in the cleaner flotation testwork achieved 60.5% (test C07 total stage 1-4, Table 1*). It is important to note that this is the level of antimony recovered in the cleaner flotation stage whilst the rougher flotation stage attained 81.9% (test C07 Rougher Flotation Stage, Table 1, Appendix 1*). The balance of antimony recovery (21.4%) reports to the cleaner flotation tail which will undergo recirculation in a closed circuit with further regrinding and re-flotation expected. In this process, most of the remaining antimony metal is expected to be recovered. It was also observed in the results that a longer residence time in the cleaning stages would have improved the antimony recovery.

Further testwork and optimisation of the flotation process will be undertaken to improve the recovery to the cleaner concentrate with overall total recoveries expected to exceed 80% as demonstrated by the rougher flotation testwork.

Next Steps:

- Mineralogical testwork using QEMScan on the head, concentrate and tail to determine stibnite deportment to develop an understanding of the ore characteristics for the Mojave ore

- Collection of a larger sample from the underground working at the DAM Prospect to expand the metallurgical testwork program to include flotation optimisation, gravity separation testwork and ore sorting

- Production of a larger volume of antimony concentrate for use in a pilot test to produce antimony metal ingot, antimony oxide and antimony trisulphide

- Provide a sample of concentrate to Rice University to commence with Deep Eutectic Solvent extraction testwork using DeepSolv(TM) methodology

- Collection and metallurgical testing of mined samples from the Los Lirios deposit in Mexico

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2O0QRXJ0

Locksley Resources Limited
T: +61 8 9481 0389
E: info@locksleyresources.com.au

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