Locksley Resources (ASX:LKY) confirms high-grade rare earth and antimony mineralisation at Mojave Project

Locksley Resources has released results from its maiden diamond drilling program at the El Campo Rare Earth Element (REE) prospect, confirming high-grade, NdPr-enriched light rare earth element (LREE) mineralisation within the company’s Mojave Project in California, USA.

The drilling also extended high-grade antimony mineralisation at the Desert Antimony Mine (DAM), furthering the company’s broader critical minerals exploration strategy in a region adjacent to the Mountain Pass Mine, the only operating REE mine in the United States.

Highlights

• Maiden diamond drilling at El Campo confirms high-grade NdPr-enriched LREE mineralisation in a Mountain Pass-style carbonatite system.
• Key intercepts at El Campo include 7.2m @ 2.93% TREO, including 3.75m @ 4.45% TREO, and a peak 0.7m @ 6.03% TREO (NdPr ~25% of TREO).
• El Campo extends over a 1.1km strike length, remains open at depth and along strike, and sits ~5.5km southeast of Mountain Pass Mine.
• DAM assay results confirm continuity of high-grade antimony beneath historical workings, including 0.3m @ 6.44% Sb.
• Regional exploration continues with high-resolution ground scintillometer surveys, mapping, and rock chip sampling to refine drill targeting.

Maiden diamond drilling at El Campo intersected structurally controlled, Mountain Pass-style mixed carbonatite-hosted REE mineralisation in the northern carbonatite within a northwest-trending corridor.

Two of four drill holes returned significant LREE mineralisation, confirming that surface-exposed carbonatite and Thorium radiometric anomalies extend at depth, and supporting the interpretation of a continuous mineralised system over 1.1km.

Rock chip sampling of the northern extension returned consistent TREO results, with NdPr/TREO ratios up to 27%, reflecting enrichment in critical rare earths used in permanent magnets and advanced technologies.

The strongest drill result was in hole ECDD0002, with 7.2m @ 2.93% TREO including 3.75m @ 4.45% TREO and a peak 0.7m @ 6.03% TREO (NdPr/TREO 25.34%).

The Desert Antimony Mine drilling confirmed high-grade stibnite mineralisation in subvertical quartz-stibnite veins and associated breccias within granite gneiss and tonalite.

The final two drill holes, DADD0006 and DADD0007, intersected multiple subvertical antimony zones below historical workings, with the strongest result of 0.3m @ 6.44% Sb, demonstrating continuity along strike and at depth, supporting the interpretation of a broader hydrothermal antimony system, and being integrated into ongoing geological models to guide further targeting.

Locksley Resources Non-Executive Technical Director, Ian Stockton, commented:

“Diamond drilling at the El Campo prospect represents the first test of the depth extensions of known REE mineralisation exposed at surface. The results are encouraging and consistent with the observations from surface mapping and sampling. We are now evaluating the REE opportunity in the context of our evolving understanding of the Mountain Pass-style magmatic system at El Campo. Further work will focus on refining the extent and lithostructural controls on the REE mineralisation and integrating the results into ongoing drill targeting plans, supported by a high-resolution ground scintillometer survey across the entire permit footprint”.

The results from El Campo and DAM enhance Locksley’s understanding of the geology, structural architecture, and down-dip continuity of critical minerals at the Mojave Project.

Step-out drilling and additional regional surveys are planned to test the potential for a larger Mountain Pass-style carbonatite system and extend antimony mineralisation.

These findings reinforce the company’s position within one of the United States’ most strategically significant critical mineral provinces, supporting continued exploration and resource evaluation across the Mojave Project.

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