Locksley Confirms High-Grade Rare Earth Mineralization at El Campo and Extends Dam Antimony Mineralization

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF) reported maiden diamond drilling assays from the El Campo REE prospect in California, confirming high-grade, NdPr-enriched light rare earth mineralization about 3.4 miles from the Mountain Pass rare earth mine.

Key intercepts include up to 6.03% TREO over 0.7m and 7.2m @ 2.93% TREO (including 3.75m @ 4.45% TREO). Nd and Pr oxides comprise about 25% of TREO in key intervals. Final drilling results at the Dam Antimony Mine intersected up to 6.44% Sb over 0.3m and indicate antimony mineralization extends below historic workings, to the south, and remains open along strike and at depth. Locksley is pursuing a U.S.-focused critical minerals and antimony mine-to-market strategy supported by downstream technology partnerships.

Positive

• High-grade El Campo intercept of 6.03% TREO over 0.7m
• 7.2m @ 2.93% TREO, including 3.75m @ 4.45% TREO at El Campo
• Nd and Pr oxides ~25% of TREO in key intercepts
• Antimony peak grade of 6.44% Sb over 0.3m at DAM
• Drilling shows DAM antimony mineralization extends and remains open along strike and depth
• Projects located in U.S. with stated mine-to-market critical minerals strategy

Negative

• None.

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SAN BERNARDINO, Calif., June 4, 2026 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF) announced that assay reports from its maiden diamond drilling program at the El Campo Rare Element (REE) prospect, within the company's Mojave Prospect in California, confirmed high-grade NdPr-enriched light rare earth mineralization. The El Campo project is strategically located approximately 3.4 miles southeast of MP Materials' Mountain Pass Mine, the only operating and producing rare earth mine in the U.S.

Key highlights include:

• Neodymium (Nd) and Praseodymium (Pr) magnet rare earth oxides represent approximately 25% of TREO in key drill intercepts, highlighting enrichment in the critical rare earths elements required for permanent magnets, defense technologies, robotics and advanced manufacturing.
• Significant total REE oxide (TREO) intercepts returned from maiden drilling at El Campo include:
  • Peak value of 6.03% TREO over 0.7m in drill hole ECDD0002
  • 7.2m @ 2.93% TREO in drill hole ECDD0002, including 3.75m @4.45% TREO
  • 0.90m @ 1.09% TREO in drill hole ECDD0004

Details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03097136-6A1328285&v=undefined.

In addition, final results from drilling at the company's Dam Antimony Mine (DAM) successfully intersected antimony mineralization beneath historical underground workings. Antimony intersections returned from the final two of eight completed drill holes including:

• Peak value of 6.44% Sb over 0.3m in DADD0007
• 0.3m @ 2.90% Sb in hole DADD0007.

The results at El Campo are significant given the strategic importance of Nd and Pr rare earth oxides in permanent magnet supply chains, including electric vehicles, robotics, unmanned systems, defense applications and advanced manufacturing.

"Diamond drilling at the El Campo prospect represents the first test of the depth extensions of known REE mineralization exposed at surface," said Ian Stockton, Locksley Resources non-executive technical director. "The results are encouraging and consistent with observations from surface mapping and sampling. We are now evaluating the REE opportunity in the context of our evolving understanding of the Mountain magmatic system at El Campo."

With respect to the completion of the diamond drilling at DAM, he noted this represents the first test of antimony mineralization beneath the historical workings. "The final assay results confirm previously announced drilling results that high-grade antimony mineralization extends below the historic workings. In addition, these results also indicate that the mineralization extends to the south and remains open along strike and at depth," said Stockton.

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

View original content:https://www.prnewswire.com/news-releases/locksley-confirms-high-grade-rare-earth-mineralization-at-el-campo-and-extends-dam-antimony-mineralization-302791612.html

SOURCE Locksley Resources

FAQ

What did Locksley Resources (OTCQX: LKYRF) announce on June 4, 2026 about El Campo drilling results?

Locksley Resources announced that maiden diamond drilling at the El Campo rare earth prospect confirmed high-grade, NdPr-enriched light rare earth mineralization. According to Locksley, key intercepts include up to 6.03% total rare earth oxides (TREO) and significant intervals grading above 2% TREO.

What are the key TREO assay results from Locksley Resources’ El Campo prospect (LKYRF)?

The El Campo program returned a peak value of 6.03% TREO over 0.7m. According to Locksley, other notable results include 7.2m @ 2.93% TREO, including 3.75m @ 4.45% TREO, and 0.90m @ 1.09% TREO from separate drill holes.

How enriched are Nd and Pr rare earth oxides in Locksley Resources’ El Campo drilling (LKYRF)?

Key El Campo drill intercepts show neodymium and praseodymium oxides representing about 25% of TREO. According to Locksley, this NdPr enrichment highlights exposure to critical magnet rare earths used in permanent magnets, defense technologies, robotics, electric vehicles and advanced manufacturing.

What did Locksley’s Dam Antimony Mine drilling reveal about antimony mineralization for LKYRF?

Drilling at the Dam Antimony Mine intersected antimony mineralization beneath historical underground workings. According to Locksley, assays included a peak 6.44% Sb over 0.3m and 0.3m @ 2.90% Sb, with mineralization extending southward and remaining open along strike and at depth.

Where is Locksley Resources’ El Campo rare earth prospect located relative to Mountain Pass (LKYRF)?

El Campo lies about 3.4 miles southeast of MP Materials’ Mountain Pass rare earth mine. According to Locksley, this places the NdPr-enriched El Campo prospect close to the only operating and producing rare earth mine in the United States, within the Mojave Project area.

What is Locksley Resources’ critical minerals and antimony strategy in the U.S. (LKYRF)?

Locksley is focused on critical minerals in the U.S., advancing the Mojave Project for rare earths and antimony. According to the company, it is executing a mine-to-market antimony strategy, supported by downstream technology partnerships with U.S. research institutions and industry partners.