Locksley Resources (ASX:LKY) Refocuses on Greater Tottenham Copper Project

Aditi Sarkar

27 October 2026 10:29 PM AEDT

Locksley Resources (ASX:LKY) Refocuses on Greater Tottenham Copper Project

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Highlights

Portfolio review prioritises Tottenham and Iron Duke copper-gold assets in NSW.
Greater Tottenham Copper Growth Strategy released on 15 October 2026.
Reduced focus on the Mojave Project in the US.
Cash of $13.383 million at 30 September 2026.

Locksley Resources Limited (ASX:LKY) has released its quarterly activities report for the period ended 30 September 2026. Following a portfolio review, the company is prioritising its copper and gold interests at Tottenham and Iron Duke in New South Wales and reducing its focus on the Mojave Project in the United States.

Greater Tottenham Copper Project

In May 2026, Locksley signed a binding option to acquire 100% of the Iron Duke project from a subsidiary of Sky Metals, taking Greater Tottenham to more than 1,000 square kilometres of tenure. Tottenham hosts a JORC Mineral Resource of 9.86 Mt at 0.73% copper and 0.22 g/t gold.

The Greater Tottenham Copper Growth Strategy, released on 15 October 2026, rests on two pillars: resource growth through drilling and target ranking, and improving economic viability through metallurgical testwork, pit optimisation and processing studies.

Changes to US Assets

Locksley has reduced its focus on the Mojave Project and terminated its US office agreement, while retaining a US business address for registrations and correspondence.

After the quarter, the Board resolved not to pursue further development of the Rice University DeepSolv antimony research, judging it not commercially justified, despite laboratory testing producing antimony products grading up to 96%.

Corporate and Finances

Cash was $13.383 million at 30 September 2026, down from $14.931 million at 30 June. Exploration and evaluation spending was $667,000, and the company estimates about 10 quarters of funding at current spending.

Kerrie Matthews resigned as Managing Director and CEO in July 2026, and Chairman Bevan Tarratt remains the company's contact. An unmarketable parcel sale facility was launched for holdings under A$500.

Key Takeaways

Locksley's strategy is now centred on NSW copper-gold.
The Iron Duke option expands the Tottenham district footprint.
US activities and antimony research have been scaled back.
A strong cash position supports planned drilling and studies.

FAQs

Q: What is Locksley's main focus?

A: The Greater Tottenham copper-gold project in New South Wales.

Q: What is the Tottenham resource?

A: 9.86 Mt at 0.73% copper, 0.22 g/t gold and 2 g/t silver.

Q: What happened to the Mojave Project?

A: Locksley has reduced its focus on the US project.

Q: What was Locksley's cash at quarter end?

A: $13.383 million at 30 September 2026.

Q: What are the December quarter priorities?

A: Ranking drill targets, advancing Iron Duke drilling and progressing metallurgical studies.

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