Locksley Resources (ASX:LKY) submitted the drill permit application for the Desert Antimony Mine, within its Mojave project in California, to the US Bureau of Land Management, according to a Thursday filing with the Australian bourse.
Sampling at the mine yielded "exceptional" results, including 46% antimony from rock chip assays, with eight samples above 17% antimony, and mineralization mapped across a 400-meter surface strike length, the filing said.
The company plans to conduct further exploration in high-grade antimony and rare earth element zones through surface and subsurface methods, per the filing.
Shares were up 5% in afternoon trade Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.