Locksley Secures High Grade Copper & Gold Project Complementing Tottenham District Strategy

Locksley Resources (OTCQX: LKYRF) is acquiring a 100% interest in the Iron Duke Copper Gold Project in New South Wales, Australia, via a binding option agreement with Balmain Minerals, a Sky Metals subsidiary.

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF) is acquiring a 100% interest in the Iron Duke Copper Gold Project in New South Wales, Australia, via a binding option agreement with Balmain Minerals, a Sky Metals subsidiary. The deal includes Exploration Licenses covering 65 units.

Iron Duke lies about 15 km from Locksley’s Tottenham Project in the Cobar District, offering potential operational and geological synergies and drill-ready targets. The project hosts a high-grade copper and gold system open along strike and at depth, with multiple untested targets.

Locksley’s primary strategic focus remains the Mojave Project in California, targeting rare earth elements and antimony within a broader U.S. critical minerals, mine-to-market strategy supported by downstream technology partnerships.

Positive

• Binding option to acquire 100% of Iron Duke Copper Gold Project
• Acquisition includes Exploration Licenses covering 65 units
• Iron Duke located ~15 km from Tottenham Project in Cobar District
• High-grade copper and gold system open along strike and at depth
• Multiple untested targets and immediate drill-ready prospects
• Acquisition complements existing copper portfolio and district-scale strategy

Negative

• None.

Argus May 14 session

-2.86% close to close Open Argus

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News Market Reaction – LKYRF

On May 14, the day this news came out, LKYRF closed 2.86% below the previous close.

Data tracked by StockTitan Argus for the May 14 session.

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SAN BERNARDINO, Calif., May 14, 2026 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF) announced it is acquiring a 100% interest in the Iron Duke Copper Gold Project, located in New South Wales, Australia. The company has entered into a binding option agreement with Balmain Minerals Pty Ltd., a wholly owned subsidiary of Sky Metals Limited (ASX: SKY) and the acquisition of the project includes Exploration Licenses for 65 units.

Ian Stockton, Locksley Resources technical director, said, "The Iron Duke Project is located close to the Company's Tottenham Project within the Cobar District, strengthening Locksley's position in the region and supporting a coordinated district scale opportunity." He noted that the proximity of the projects (within 15 km) provides potential operational and geological synergies, including shared targeting strategies and future development pathways.

"The project hosts a high-grade copper and gold system that remains open along strike and at depth, with multiple untested targets, providing clear pathways for resource growth," Matthews affirmed.

Additional information on the acquisition can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03089981-6A1325450&v=undefined.

While the Mojave Project in the U.S. remains the Company's primary strategic focus, the Iron Duke project is very complementary to the copper project portfolio at Tottenham and provides immediate drill ready targets.

Locksley Resources (https://www.locksleyresources.com.au) is primarily focused on critical minerals in the U.S. Locksley is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. The company is executing a mine-to-market strategy for antimony, aimed at re-establishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This integrated approach combines resource development with innovative processing and separation technologies, positioning Locksley to play a key role in advancing U.S. critical minerals 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-secures-high-grade-copper--gold-project-complementing-tottenham-district-strategy-302771704.html

SOURCE Locksley Resources

FAQ

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What did Locksley Resources (OTCQX: LKYRF) announce on May 14, 2026?

Locksley Resources announced a binding option to acquire a 100% interest in the Iron Duke Copper Gold Project. According to Locksley, the New South Wales project strengthens its regional position and aligns with its broader copper and critical minerals strategy alongside the Tottenham and Mojave projects.

Where is the Iron Duke Copper Gold Project acquired by LKYRF located and how close is it to Tottenham?

The Iron Duke Copper Gold Project is in New South Wales, Australia, within the Cobar District. According to Locksley, Iron Duke is located within approximately 15 km of the company’s Tottenham Project, enabling potential operational synergies, shared targeting strategies, and coordinated district-scale exploration and development.

What key features of the Iron Duke Copper Gold Project are important for Locksley Resources (LKYRF) investors?

Iron Duke hosts a high-grade copper and gold system that remains open along strike and at depth. According to Locksley, the project includes 65 exploration license units, multiple untested targets, and immediate drill-ready prospects that may offer clear pathways for potential resource growth.

How does the Iron Duke acquisition fit with Locksley Resources’ (LKYRF) Tottenham district strategy?

The Iron Duke Project lies close to Locksley’s Tottenham Project, supporting a coordinated district-scale opportunity. According to Locksley, proximity enables potential operational and geological synergies, including shared exploration targeting and future development pathways across the Cobar District copper portfolio.

Does the Iron Duke Copper Gold Project change Locksley Resources’ (LKYRF) focus on the Mojave Project?

Locksley states that the Mojave Project in the U.S. remains its primary strategic focus. According to Locksley, Iron Duke is considered complementary, adding copper exposure and drill-ready targets while Mojave advances rare earths and antimony within a broader critical minerals strategy.

What is Locksley Resources’ (OTCQX: LKYRF) broader critical minerals strategy in the United States?

Locksley focuses on critical minerals through its Mojave Project in California, targeting rare earth elements and antimony. According to Locksley, it is executing a mine-to-market antimony strategy, supported by downstream technology partnerships with leading U.S. research institutions and industry partners.

What exploration licenses are included in Locksley Resources’ (LKYRF) Iron Duke acquisition?

The Iron Duke transaction includes exploration licenses covering 65 units in New South Wales. According to Locksley, these licenses provide immediate drill-ready opportunities within a high-grade copper and gold system, supporting potential resource growth and enhancing the company’s broader copper project portfolio.