Locksley Resources announced that assay results have been received for 8 drill holes completed in September and October 2021 at the Tottenham Copper Project in central New South Wales. Results have also been received from 6 costeans collected to assess the tenor of a smelter slag dump at the Mount Royal Mine. Assay results have been received for 6 costeans, 4 diamond drill holes and 5 RC drill holes from the Mount Royal, Orange Plains and Carolina Deposits.

Carolina Deposit Diamond Drilling: The Carolina Deposit lies 9km ENE of Tottenham. Holes CAD001 to CAD006 were drilled in September 2021 for 1,260.4m. Results have been received for holes CAD004, CAD005, and CAD006.

All results have been received for the 2021 drilling. Holes TMD029 and TMD030 were drilled in late 2020 by private company Bacchus Resources Pty Ltd. to test the down dip extent of the Carolina Deposit. It is currently thought that these holes pass to the south of the main plunge of the deposit.

These holes have been recovered and relogged to confirm the 2020 sampling. Additional sampling of mineralized material has occurred. Results have been received for TMD030 with results still pending for TMD029.

CAD004 (198.6m): This west directed hole was intended to test below outcropping quartz - magnetite rocks, a historic IP anomaly and a reputed gossan rock chip to the south of the Carolina Mine. 3 distinct quartz - magnetite horizons were intersected, but with no significant sulphides. Minor anomalous gold values were returned.

CAD005 (291.7m): This west directed hole was intended to test below CAD004 and south of a magnetic anomaly. 4discrete quartz - magnetite zones were located with no significant sulphide mineralization. CAD006 (318.7m): This west directed hole was intended to test a magnetic anomaly to the south of the Carolina deposit.

4 discrete quartz - magnetite zones were located in a similar fashion to CAD005. No significant sulphide mineralization was located. Minor anomalous gold values were returned.

TMD029 (318.7m): This hole was drilled in late 2020 by private company Bacchus Resources Pty Ltd. to test the down dip extent of the Carolina Deposit. Sampling of the main mineralized zone returned an intercept of: 0.95m at 0.54g/t Au, 1g/t Ag, 1.20% Cu from 294.65m. It is currently thought that this hole passes to the south of the high-grade section of the deposit.

This core has been recovered, and relogged to confirm the 2020 sampling. Additional sampling has occurred that has now defined 4 discrete sulphide zones. Additional sampling located a pyritic sulphide horizon that returned: 1.5m at 0.21g/t Au, 0.34% Cu from 274.50m.

TMD030 (330.8m): This hole was drilled in late 2020 by private company Bacchus Resources Pty Ltd. to test the down dip extent of the Carolina Deposit. Sampling of the upper ore horizon returned: 5.50m at 0.26g/t Au, 2g/t Ag, 0.24% Cu from 284.60m. The lower ore horizon returned: 1.60m at 0.62g/t Au, 3g/t Ag, 1.89% Cu from 303.00m.

It is currently thought that this hole passes to the south of the high-grade section of the deposit. This core has been recovered, and relogged to confirm the 2020 sampling. Additional sampling located a narrow pyritic massive sulphide horizon that returned 0.3m at 0.36g/t Au, 1 g/t Ag, 0.21% Cu from 272.52m.

This matches historical reports of an upper horizon with grades to 5.1g/t Au in hole CRC013 2 and 1.9g/t Au in hole CAD0023. Chris Watson and Orange Plains Deposits RC Drilling: 28 RC drill holes (TORC001 to TORC028), were completed over the Chris Watson and Orange Plains Deposits for 3,398m of drilling in October 2021. Results have been received for holes TORC022, TORC023, TORC026 to TORC028.

All results have now been received for this programme. Previously reported results have confirmed historic drilling and extended mineralization. Noteworthy, previously reported, results include: TORC001 2.0m at 1.03% Cu, 0.14g/t Au from 30.0m; TORC003 3.0m at 1.04% Cu, 0.31g/t Au from 31.0m; TORC013 6.0m at 0.73% Cu, 1.50g/t Au from 50.0m; TORC018 6.0m at 0.96% Cu, 0.63g/t Au from 100.0m; TORC019 17.0m at 0.54% Cu from 3.0m; TORC019 3.0m at 1.88% Cu, 0.41g/t Au from 33.0m; TORC022 returned a moderate intercept of 2m at 0.57% Cu, from 45m.

TORC023 also returned a moderate result of 2m at 0.79% Cu, 0.19g/t Au from 34m. TORC026 intersected a significant pyritic sulphide zone that returned 4m at 0.32% Cu, 0.20g/t Au, 7g/t Ag and 3.16% Zn. Individual metres assayed to 6.65% Zn.

This appears to be the first example of strong zinc mineralization reported at Tottenham. Holes TORC027 and TORC028 were drilled to define the north eastern limits of the deposit. Both holes intersected graphitic pelite with no anomalous results.

Chris Watson Deposit Historic Diamond drilling: Over 9,000m of previous diamond drilling is stored at the Orange Plains field camp. Many of these holes contain unsampled intervals of mineralized core. Holes TMD021, TMD022, TMD028 and TPDD008, from the deeper sections of the Chris Watson Deposit, have been relogged and unsampled mineralization sent for assay.

All of these holes contain significant copper mineralization that demonstrates the system remains open at depth. Holes TMD021, TMD022, TMD028 have additional sampling now in the assay lab with results not expected until late January 2022. Next Steps: All compiled data has been sent to an independent consultant to calculate a resource for the Mount Royal to Orange Plains and Carolina Deposits.

Results of this work are expected in late January. Multiple historic drill holes are present at the WB Clarke Geoscience Centre in western Sydney. This includes: 1 hole at the Bogan River Mine; 3 holes at the Mount Royal Mine; 1 hole at the Chris Watson Mine; 1 hole at the Orange Plains Mine; 1 hole at the Effies Ace Mine; 7 holes at the Carolina Mine.

The relaxation of COVID-19 restrictions now means that these holes are accessible to be relogged and sampled. This work is intended to commence in January 2022.