Locksley broadens Mojave mapping in search for more REE and antimony

• Locksley prepares for expanded mapping program later this month at Mojave
• Four new priority areas will be mapped, with two focusing on REE potential
• BLM approvals for an expanded Plan of Operations are expected in September, with drilling to follow

Special report: Broad geological mapping will begin this month in the North Block claims of Locksley Resources’ Mojave project, which abuts MP Materials’ Mountain Pass Mine, the only producing rare earths mine in the US.  

As well as seeking rare earths, this field program will also take in strike extensions at the Desert Antimony prospect.

At North Block, the company will undertake first pass regional mapping across REE prospective areas.

Work at Desert Antimony will focus on improving knowledge gained from a recent mapping program.

These additional mapping areas complement the established prospect at El Campo, where high-grade rock chips up to 12.1% total rare earth oxide (TREO) and NdPr up to 3.19% have been returned.

The new areas include the ‘Birthday’ prospect, about 1.4km north of the Mountain Pass mine, and North-East prospect, about 4km east-northeast of that mine in California’s Bernardino County.

NYSE-listed MP Materials entered a $500m supply agreement with Apple for rare earth magnets in July shortly after signing a multi-billion-dollar agreement with the US Department of Defense (DoD) which involved setting a price floor for NdPr.

These moves sent Locksley (ASX:LKY/ OTCQB: LKYRF), literally on the doorstep of MP’s Mountain Pass mine, and its share price surging.

The Pentagon is now MP Materials largest shareholder, holding 15% of the company’s stock, and has committed to provide funding support for MP’s planned expansion into heavy rare earth production.

Mapping to complement ongoing activities at El Campo

Alongside the expanded mapping planned for late August, additional work is expected to include drone surveys and detailed geophysical analyses such as magnetics, radiometrics and gravity.

These efforts will complement ongoing activities at El Campo and help identify further high-priority REE targets across the wider Mojave project.

Locksley, already up 900% for the year, received the green light from the Bureau of Land Management (BLM) in July to begin drilling the historical Desert Antimony mine.

LKY technical director Julian Woodcock said the start of additional field mapping programs would provide more field data and may lead to new REE targets for follow up later this year.

“Our technical team is committed to expanding our geological knowledge to complement the existing Desert Antimony and El Campo prospects, enhancing our overall REE opportunity and strengthening our position in a proven US jurisdiction.”

What’s next?

The explorer expects to receive BLM approvals for the expanded Plan of Operations in September, enabling drilling shortly thereafter.

It plans to integrate recent geological modelling and previous surface sampling with the objective of determining a JORC exploration target ahead of drill testing.

The company will also look to engage a metallurgical consultant to develop testwork flowsheets for Mojave targeting the recovery of REE and antimony.

Works are also in motion for an expanded drill program at the Desert antimony mine, with first drilling results anticipated in Q4.

This article was developed in collaboration with Locksley Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.