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Locksley Resources Limited (ASX:LKY)

ALERT: Price-sensitive ASX Announcement for LKY
Current share price for LKY : $0.065 -0.07 (-51.85%)+
Announcement
Release
14 May 2026 9:22AM
Price at Release
$0.135
Full Release
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Summary
Locksley Resources Limited has entered into a binding agreement to acquire the Iron Duke Project from Sky Metals Limited's subsidiary, Balmain Minerals Pty Ltd. The project, which comprises Exploration Licences EL9191 and EL6064, entails an option fee and subsequent payments contingent on resource delineation milestones. With a work commitment of 2,000 metres of drilling during the option period, Locksley plans to validate historical exploration data that indicate high-grade copper and gold, and advance towards establishing a JORC-compliant resource.
Key Points
  • Locksley Resources Limited has signed an agreement to acquire the Iron Duke Project from Balmain Minerals Pty Ltd.
  • The Iron Duke Project includes Exploration Licences EL9191 and EL6064.
  • The acquisition involves an option fee of $100,000 and an initial consideration of $500,000 upon exercise.
  • An additional $500,000 will be paid upon delineation of a significant mineral resource.
  • Locksley is required to conduct a minimum of 2,000 metres of drilling during the option period.
  • The Iron Duke Project has shown significant past exploration results with high-grade copper and gold.
  • Locksley aims to validate historical data and progress towards a JORC resource.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.