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.

Argus May 21 session

-13.47% close to close Open Argus

Details

News Market Reaction – LKYRF

On May 21, the day this news came out, LKYRF closed 13.47% below the previous close.

Data tracked by StockTitan Argus for the May 21 session.

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% Sb +2 more

Peak antimony grade

33.51% Sb over 0.4m

Desert Antimony Mine maiden drill program

High-grade interval

4.0m @ 4.87% Sb

Hole DADD005A Desert Antimony Mine

High-grade interval

1.4m @ 5.62% Sb

Hole DADD0004 Desert Antimony Mine

Mineralized holes

6 of 8 drill holes

Significant antimony intersections reported

Depth below workings

90m below underground workings

Depth of mineralized veins at Desert Antimony Mine

Historical Context

5 past events · Latest: May 14

5 events

1. May 14

   Project acquisition

   24h Move

   -2.9%

   Acquisition of Iron Duke Copper Gold Project via binding option agreement.

2. Apr 29

   Research collaboration

   24h Move

   -0.8%

   Update on Columbia University collaboration for Mojave rare earth processing.

3. Apr 09

   Drilling commenced

   24h Move

   +11.3%

   Start of maiden diamond drilling at El Campo REE prospect in Mojave.

4. Apr 01

   Technology partnership

   24h Move

   +5.0%

   Progress with Rice University on high-purity antimony concentrate and materials.

5. Mar 12

   Metallurgical milestone

   24h Move

   +18.8%

   Met tests upgrading Mojave feedstock to 99.5% purity antimony trioxide.

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

Key Terms

antimony, stibnite, diamond drilling, critical mineral

4 terms

antimony technical

"confirmed high-grade antimony mineralization below the historical underground workings"

Antimony is a metallic element used as an ingredient in alloys, flame retardants, batteries and some electronic components; think of it as a small but critical hardware part that improves strength, safety and performance in manufactured goods. Investors care because changes in supply, mining output or industrial demand can shift its price and affect companies that mine, process or rely on it—similar to how a shortage of a car part can slow auto production and raise costs.

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"

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"

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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.