Locksley To Expand Exploration of Rare Earths Potential in Mojave North Block

Rhea-AI Summary

Locksley Resources (OTCQB:LKYRF) announced plans to expand its geological and structural mapping program within the North Block of the Mojave Project in California. The company will focus on four priority areas, with two targeting rare earth elements (REE) potential and two focusing on antimony mineralization extensions from the Desert Antimony Prospect.

The program builds on the company's established REE potential at El Campo, which has shown high-grade rock chip results of up to 12.1% TREO and Nd/Pr up to 3.19%. The North Block's strategic location adjacent to MP Materials' Mountain Pass Mine, the only operating rare earths mine in the U.S., positions Locksley to potentially expand its critical minerals footprint across the underexplored 20 sq km area.

Positive

• Strategic location adjacent to MP Materials' Mountain Pass Mine, the only operating rare earths mine in the U.S.
• High-grade rock chip results at El Campo showing up to 12.1% TREO
• Large exploration potential across 20 sq km of underexplored territory
• Four priority areas identified for mapping campaign

Negative

• Early-stage exploration with no proven resources yet
• Results from the mapping program not guaranteed to yield viable targets

News Market Reaction

+8.77%

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+8.77% News Effect

On the day this news was published, LKYRF gained 8.77%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Highlights

• Structural and geological field mapping campaign expected to commence late this month to define high priority rare earth elements (REE) and antimony target areas.
• Four priority areas to be mapped with two focusing on REE potential within the North Block of the Mojave Project and two targeting strike extensions from mineralization identified at the Desert Antimony Prospect.
• Planning and contractor engagement underway for focused magnetic, radiometric and gravity surveys to provide additional high-resolution data sets for target refinement and prioritization.
• North Block offers significant potential for further polymetallic discoveries across its underexplored 20 sq km, expanding the critical minerals footprint of the Mojave Project.
• Technical team advancing high priority targets to build on established REE potential at El Campo.

SAN BERNARDINO, Calif., Aug. 13, 2025 /PRNewswire/ -- Locksley Resources Limited (ASX: LKY; OTCQB: LKYRF) announced it will commence an expanded geological and structural mapping program within the North Block of the Mojave Project in California. The field program, expected to commence later this month, will focus on expanding knowledge gained from the recent structural mapping program completed at the Desert Antimony Prospect. Additionally, it will include regional mapping across prospective areas within the North Block claims with potential for REE mineralization. Additional details can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02977959-6A1278092&v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6.

These new mapping target areas complement the established prospect at El Campo, which has high grade rock chip results of up to 12.1% TREO and Nd/Pr up to 3.19%. "The program is set to expand REE potential into the North Block, which lies immediately adjacent to MP Materials' Mountain Pass Mine, the only rare earths mine currently operating in the U.S.," said Nathan Lude, chairman of Locksley Resources. He added that the recent decision by both the U.S. Department of Defense and Apple to make strategic investments in MP Materials highlight the recognition by government and industry of the importance of and need for critical minerals located within the U.S.

The additional field mapping programs are expected to provide additional field data that may provide new REE targets for follow up later in the year.

About Locksley Resources Limited

Locksley Resources is an Australian-based explorer focused on critical minerals and base metals, with assets in both the United States and Australia. The company is actively advancing exploration of its US asset.  The Mojave Project in California, targeting rare earth elements (REEs) and antimony, is located in the Mojave Desert in California and comprises more than 250 claims. The North Block area 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. In addition to rare earths, the Mojave Project hosts the historic "Desert Antimony Mine," which last operated in 1937. Despite the United States currently having limited domestic antimony production, demand for the metal runs high due to its essential role in defense systems, semiconductors and metal alloys. Locksley's position is strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE and antimony production. The Company's Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security. More information can be found at the company's website: https://www.locksleyresources.com.au.

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

View original content:https://www.prnewswire.com/news-releases/locksley-to-expand-exploration-of-rare-earths-potential-in-mojave-north-block-302528855.html

SOURCE Locksley Resources

FAQ

What is Locksley Resources' (LKYRF) new exploration plan for the Mojave Project?

Locksley is launching an expanded geological and structural mapping program in the North Block, focusing on four priority areas - two for rare earth elements potential and two for antimony mineralization extensions.

Where is Locksley Resources' (LKYRF) Mojave Project located?

The Mojave Project's North Block is located in San Bernardino, California, adjacent to MP Materials' Mountain Pass Mine, the only operating rare earths mine in the U.S.

What are the current rare earth elements (REE) findings at Locksley's El Campo prospect?

El Campo has shown high-grade rock chip results of up to 12.1% TREO and Nd/Pr up to 3.19%.

How large is Locksley Resources' North Block exploration area?

The North Block covers an underexplored area of 20 square kilometers within the Mojave Project.

When will Locksley Resources begin its new mapping program?

The field program is expected to commence in late August 2025.