Locksley Accelerates U.S. Critical Minerals Program with Expanded Desert Antimony Drilling

Rhea-AI Summary

Locksley Resources (OTCQB: LKYRF) has submitted an expanded Plan of Operations to the U.S. Bureau of Land Management for its Desert Antimony Prospect within the Mojave Critical Minerals Project in California. The project is strategically located 3 kilometers northeast of MP Materials' Mountain Pass Mine, the only operating rare earths mine in the US.

The company's Desert Antimony Mine prospect features exceptional grades of up to 46% Sb and silver up to 1,022 g/t Ag, representing one of the highest-grade antimony occurrences in the US. The expanded drilling program, fully funded through a recent oversubscribed capital raising, aims to define a JORC Exploration Target. BLM approvals are expected this fall, with drilling to commence shortly after.

Positive

• Strategic location near the only operating US rare earths mine
• Exceptional antimony grades up to 46% Sb and silver grades up to 1,022 g/t Ag
• Recently completed oversubscribed capital raising fully funds the expanded program
• Strong geopolitical tailwinds due to US focus on reducing China dependence for critical minerals

Negative

• BLM approval still pending for expanded operations
• No current production - historic mine last operated in 1937

News Market Reaction – LKYRF

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+36.89% News Effect

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Data tracked by StockTitan Argus on the day of publication.

SAN BERNARDINO, Calif., Aug. 4, 2025 /PRNewswire/ -- Locksley Resources (ASX: LKY; OTCQB: LKYRF – https://www.locksleyresources.com.au) today announced the company submitted an expanded Plan of Operations to the U.S. Bureau of Land Management (BLM) for its Desert Antimony Prospect, part of the Company's Mojave Critical Minerals Project in California.

The submission marks a significant step as Locksley accelerates its activities for this area, which is located three kilometers northeast of MP Materials' Mountain Pass Mine, the only currently operating rare earths mine in the US.

"We believe our location positions us extremely well to take advantage of America's drive to secure domestic supply chains for critical materials," said Nathan Lude, chairman of Locksley. "This expanded program follows our recent oversubscribed capital raising, which fully funds the expanded program and subsequent exploration initiatives."

Recent structural mapping and enhanced 3D modeling have enlarged the target footprint for drilling and support the objective of defining a JORC Exploration Target via further evaluation. BLM approvals are anticipated this fall with site preparation and drilling expected to commence rapidly thereafter.

More specific information on the drilling program can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02974555-6A1276668&v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6.

Locksley Resources is an explorer focused on critical minerals, with assets in the U.S. The company is actively advancing exploration at the Mojave Project in California, targeting rare earth elements and antimony.

The Mojave Project is located in the Mojave Desert in California and comprises more than 250 claims across two contiguous prospect areas, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials' claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic "Desert Antimony Mine", which last operated in 1937. Despite the U.S. currently having limited antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors and metal alloys. With surface samples grading up to 46% Sb as well as silver up to 1,022 g/t Ag, the Desert Mine prospect represents one of the highest grade known antimony occurrences in the U.S.

The company's North American position is strengthened by the rising geopolitical urgency to diversify supply chains away from China, the global leader in both rare earths elements and antimony production, and the U.S. Administration's focus and commitment to further achieve security of supply in the U.S.

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

View original content:https://www.prnewswire.com/news-releases/locksley-accelerates-us-critical-minerals-program-with-expanded-desert-antimony-drilling-302520415.html

SOURCE Locksley Resources

FAQ

What are the antimony grades at Locksley Resources' (LKYRF) Desert Antimony Mine?

The Desert Antimony Mine features exceptional grades of up to 46% Sb (antimony) and silver grades up to 1,022 g/t Ag, making it one of the highest-grade known antimony occurrences in the US.

Where is Locksley Resources' Mojave Project located?

The Mojave Project is located in the Mojave Desert, California, comprising over 250 claims across two contiguous prospect areas. It is situated 3 kilometers northeast of MP Materials' Mountain Pass Mine.

When does Locksley Resources (LKYRF) expect to begin drilling at the Desert Antimony Prospect?

Locksley expects to receive BLM approvals in fall 2025, with site preparation and drilling to commence shortly thereafter.

How is Locksley Resources' expanded drilling program being funded?

The expanded drilling program is fully funded through a recent oversubscribed capital raising.

Why is Locksley Resources' Desert Antimony Project strategically important?

The project is strategically important due to limited US antimony production and growing demand for antimony in defense systems, semiconductors, and metal alloys, especially as the US seeks to reduce dependence on Chinese supplies.