LOCKSLEY RESOURCES ANNOUNCES HIGH-GRADE ANTIMONY INTERVALS INTERSECTED AT THE DESERT ANTIMONY MINE

Locksley Resources (OTCQX: LKYRF, LKYLY ADR, ASX: LKY) reported maiden drilling at the Desert Antimony Mine confirming high-grade antimony below historical underground workings.

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF, LKYLY ADR, ASX: LKY) reported maiden drilling at the Desert Antimony Mine confirming high-grade antimony below historical underground workings. Significant results include a peak 33.51% Sb over 0.4m, plus 4.0m @ 4.87% Sb and 1.4m @ 5.62% Sb.

Mineralized veins were intersected about 90m below existing workings, supporting continuity of surface stibnite mineralization and informing future drill targeting. The project is positioned within a U.S. critical mineral supply chain strategy focused on antimony and rare earths.

Positive

• Peak antimony grade of 33.51% Sb over 0.4m
• Multiple high-grade intersections including 4.0m @ 4.87% Sb and 1.4m @ 5.62% Sb
• Mineralized veins intersected 90m below existing underground workings
• Drilling confirms continuity of surface stibnite mineralization along strike and depth
• Project aligned with U.S. critical mineral and advanced materials supply chains

Negative

• None.

Key Figures

Peak antimony grade: 33.51% Sb over 0.4m High-grade interval: 4.0m @ 4.87% Sb High-grade interval: 1.4m @ 5.62% +2 more

Peak antimony grade

33.51% Sb over 0.4m

Maiden drill program, Desert Antimony Mine

High-grade interval

4.0m @ 4.87% Sb

Drill hole DADD005A, Desert Antimony Mine

High-grade interval

1.4m @ 5.62%

Drill hole DADD0004, Desert Antimony Mine

Depth below workings

90m below underground workings

Mineralized veins in maiden drill program

Mineralized drill holes

6 of 8 holes

Significant antimony intersections in completed drill holes

Historical Context

3 past events · Latest: Feb 10

3 events

1. Feb 10

   Underground mapping

   24h Move

   +0.4%

   New Beefeater Shear exploration corridor identified via underground mapping and structural work.

2. Feb 03

   Antimony sampling

   24h Move

   -3.1%

   High-grade batch antimony sampling results supporting mine-to-market strategy at DAM deposit.

3. Jan 06

   Silver corridor discovery

   24h Move

   +25.8%

   Continuous high-grade silver corridor confirmed with strong surface assays over 3 km trend.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stibnite, diamond drilling, critical mineral, rare earth elements (REEs)

4 terms

stibnite technical

"Drilling confirms continuity of high-grade surface stibnite mineralization along strike"

Stibnite is a naturally occurring mineral made of antimony and sulfur (chemical formula Sb2S3) and is the main ore from which the metal antimony is extracted. It matters to investors because antimony is a raw material used in flame retardants, batteries, alloys and some electronic components, so discoveries, mining output or supply disruptions of stibnite can influence commodity prices and the prospects of mining and manufacturing companies — like finding a concentrated vein of a useful metal.

diamond drilling technical

""Diamond drilling of the historic Desert Antimony Mine represents the first test of the depth"

Diamond drilling is a method that uses a rotating drill with industrial diamonds on the bit to cut and retrieve cylindrical rock samples (cores) that preserve the sequence of underground layers. For investors, these cores act like a geological “biopsy,” providing direct, verifiable information about mineral presence, grade and continuity—data that underpins resource estimates, project valuation, drilling risk and financing decisions.

critical mineral regulatory

"Antimony is designated as a critical mineral by the U.S. government, with limited current"

A critical mineral is a naturally occurring element or metal that is essential for modern technologies—like batteries, electronics, clean energy systems and defense—and whose supply is vulnerable to disruption. Investors care because these minerals act like key building blocks: shortages, geopolitical controls, or production bottlenecks can sharply raise costs, stall product rollouts, change profit forecasts, and prompt government policy or subsidies that affect company valuations.

rare earth elements (REEs) technical

"The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs)"

Rare earth elements (REEs) are a group of 17 metallic elements used as specialized ingredients in many modern technologies — from smartphones and electric vehicles to wind turbines and defense systems. They matter to investors because their supply is limited and concentrated in a few countries, which can cause sharp price swings, create strategic risks for manufacturers, and influence the profitability and competitiveness of companies that rely on these materials.

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SAN BERNARDINO, Calif., May 21, 2026 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF and LKYLY-ADR) announced the maiden drill program at its Desert Antimony Mine confirmed high-grade antimony mineralization below the historical underground workings.

Significant antimony intersections returned from six of the eight completed drill holes demonstrated:

• Peak value of 33.51% Sb over 0.4m inc
• 4.0m @ 4.87% Sb in hole DADD005A
• 2.0m @ w.69^ Sb in hole DADD0003
• 1.4m @ 5.62% in hole DADD0004

Drilling confirms continuity of high-grade surface stibnite mineralization along strike and below the historical underground workings supporting geological modelling and future drill targeting.

"Diamond drilling of the historic Desert Antimony Mine represents the first test of the depth extensions of known antimony mineralization beneath the historical workings, with mineralized veins intersecting 90m below existing underground workings," said Ian Stockton, non-executive technical director at Locksley. He added, "The results are consistent with the observations from surface sampling and underground mapping and are continuing to be evaluated in the context of our evolving geological model."

Specific details on the drilling results can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03092365-6A1326401&v=undefined.

Antimony is designated as a critical mineral by the U.S. government, with limited current domestic production. The Desert Antimony Mine represents a rare opportunity to establish a primary, high-grade antimony source within the U.S. aligned with national security, defense and advanced materials supply chains.

Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793 (cell)

View original content:https://www.prnewswire.com/news-releases/locksley-resources-announces-high-grade-antimony-intervals-intersected-at-the-desert-antimony-mine-302779050.html

SOURCE Locksley Resources

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Locksley Resources (LKYLY) announce about the Desert Antimony Mine on May 21, 2026?

Locksley Resources announced maiden drill results confirming high-grade antimony at the Desert Antimony Mine. According to Locksley Resources, six of eight drill holes intersected significant mineralization beneath historical underground workings, supporting continuity of stibnite veins and guiding future exploration and geological modelling.

What were the key antimony drill results reported by Locksley Resources (LKYLY) at the Desert Antimony Mine?

The company reported a peak grade of 33.51% Sb over 0.4m. According to Locksley Resources, additional significant intercepts include 4.0m @ 4.87% Sb in hole DADD005A and 1.4m @ 5.62% Sb in hole DADD0004, confirming high-grade mineralization at depth.

How deep did Locksley Resources (LKYLY) intersect antimony mineralization at the Desert Antimony Mine?

Locksley Resources intersected mineralized veins about 90m below existing underground workings. According to Locksley Resources, this diamond drilling is the first test of depth extensions of known antimony mineralization and supports an evolving geological model for future drilling and resource evaluation at the project.

Why is the Desert Antimony Mine important for U.S. critical mineral supply and LKYLY investors?

The Desert Antimony Mine targets antimony, a U.S.-designated critical mineral with limited domestic production. According to Locksley Resources, the project offers a rare opportunity for a primary, high-grade U.S. antimony source aligned with national security, defense and advanced materials supply chains.

What is Locksley Resources' (LKYLY) mine-to-market strategy for antimony in the Mojave Project?

Locksley Resources is pursuing a mine-to-market antimony strategy within its Mojave Project in California. According to Locksley Resources, this includes resource development, innovative processing and separation technologies, and downstream technology partnerships to help reestablish domestic antimony supply chains for critical U.S. industries.

How does the Mojave Project support Locksley Resources' (LKYLY) focus on critical minerals?

The Mojave Project targets both rare earth elements and antimony in California. According to Locksley Resources, combining critical mineral exploration with advanced processing and strategic U.S. partnerships positions the company to contribute to U.S. critical materials independence and potential long-term supply opportunities.