Locksley Commences Diamond Drilling at El Campo REE Prospect Part of its Mojave Project in California

Locksley Resources (OTCQX: LKYRF) has begun a maiden diamond drilling program at the El Campo REE Prospect, part of its Mojave Project in California, with four initial holes testing 900m of strike where surface samples returned up to 12.1% TREO.

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF) has begun a maiden diamond drilling program at the El Campo REE Prospect, part of its Mojave Project in California, with four initial holes testing 900m of strike where surface samples returned up to 12.1% TREO.

The program will evaluate depth, continuity and geology of carbonatite-hosted REE mineralization about four miles southeast of Mountain Pass, and supports the company's mine-to-market antimony and critical‑materials strategy.

Positive

• Maiden drilling commenced, providing first subsurface data
• Surface sampling up to 12.1% TREO
• Targets 900m strike length for continuity testing
• Located ~4 miles from Mountain Pass REE mine

Negative

• Early-stage program: only four initial holes planned
• No measured or indicated resource reported yet
• Surface assay grades not confirmed at depth

Argus Apr 9 session

+11.25% close to close Open Argus

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On Apr 9, the day this news came out, LKYRF closed 11.25% above the previous close.

Data tracked by StockTitan Argus for the Apr 9 session.

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SAN BERNARDINO, Calif., April 9, 2026 /PRNewswire/ -- Locksley Resources (ASX: LKY; OTCQX: LKYRF/ADR: LKYLY; https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. announced it has commenced diamond drilling at the El Campo Rare Earth (REE) Prospect, part of its Mojave Project in California. The drilling program represents Locksley's first systematic drill testing of El Campo and is designed to evaluate the scale, continuity and geological characteristics of REE mineralization identified through historical work and recent surface sampling.

The maiden program comprises four initial diamond drill holes targeting sheared carbonatite-hosted REE mineralization and will test the depth and lateral continuity of mineralization along 900m of strike, where previous surface sampling returned results of up to 12.1% TREO.

El Campo is strategically located approximately four miles southeast of MP Materials' Mountain Pass REE Mine, a globally significant REE producer. Additional details are available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03076930-6A1319789&v=undefined.

"Our commencement of drilling at El Campo marks a significant step in advancing the broader rare earth potential of the Mojave Project," said Ian Stockton, Locksley Resources Technical Director. "The grade of surface mineralization identified to date provides a strong foundation, and this program will deliver the first subsurface data to assess continuity and inform the project's development potential."

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-commences-diamond-drilling-at-el-campo-ree-prospect-part-of-its-mojave-project-in-california-302738081.html

SOURCE Locksley Resources

FAQ

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What is Locksley (LKYRF) announcing about drilling at El Campo on April 9, 2026?

Locksley commenced a maiden diamond drilling program of four holes at El Campo on April 9, 2026. According to the company, the program will test depth and lateral continuity along 900m of strike where surface samples reached 12.1% TREO.

How many drill holes will Locksley (LKYRF) initially drill at El Campo and what will they test?

The maiden program comprises four initial diamond drill holes. According to the company, they target sheared carbonatite-hosted REE mineralization to assess depth, lateral continuity and geological characteristics along a 900m strike.

What grade did surface sampling return at El Campo and does that guarantee a resource for LKYRF?

Surface sampling returned results up to 12.1% TREO but does not guarantee a resource. According to the company, drilling will deliver the first subsurface data needed to assess continuity and resource potential.

Where is El Campo relative to major REE infrastructure and why is location relevant for LKYRF?

El Campo lies about four miles southeast of MP Materials' Mountain Pass mine. According to the company, proximity to a major REE producer is strategically relevant for potential logistics and regional mineralization context.

Will the El Campo drilling test antimony or rare earths for Locksley (LKYRF)?

The El Campo drill program targets rare earth elements in carbonatite-hosted mineralization. According to the company, the Mojave Project overall targets both REEs and antimony, with separate strategic downstream efforts for antimony.

How will the initial drill results affect Locksley (LKYRF) project plans and timelines?

Initial drill results will inform continuity and next steps but timeline depends on outcomes. According to the company, subsurface data from these four holes will guide further resource definition and development planning.