Locksley Resources ups ante at Mojave next to rare earth operations

• Locksley is increasing the scale and accelerating the pace of exploration at Mojave
• This will include follow-up field sampling focusing on existing and new critical minerals prospects
• A new site coined ‘Hendricks’ adds another exploration target

Special report: Recent developments at the Mojave project in California, including a newly identified shaft and expanded land holding, have prompted Locksley to step up exploration.

Locksley’s (ASX:LKY/OTCQB:LKYRF) expanded program will focus on exploration of existing antimony and rare earth prospects, as well any polymetallic potential within the broader land position exceeding 40km2.

The team is planning the next phase and after reviewing recent fieldwork, Locksley will soon unveil the full scope of its expanded exploration program.

This work will build on multiple rounds of field mapping at Mojave which resulted in the discovery of an historical shaft in the heart of the North Block.

The scale of the surrounding workings suggests the presence of a shaft exceeding  14m in depth.

Initial grab samples have been collected to help identify the commodities that were historically extracted at the newly discovered site, now named “Hendricks”.

With mapping now completed across initial high priority zones, the Desert Antimony mine extensions, North Block REE target and areas north of Mountain Pass, Locksley’s geologists are now focusing on refining targets.

In parallel, Locksley welcomed brokers and analysts to the site to offer first-hand exposure to the scale of the company’s expanded tenure and planned drilling at the Desert Antimony mine and El Campo.

Shares jump on new claims and antimony deal

Locksley’s share price surged 47.23% last Friday following news of 249 additional claims secured adjacent to its Mojave project and the signing of a non-binding heads of agreement with EV Resources (ASX:EVR) to acquire antimony material from its Mexican project, with potential to include its Nevada asset.

If the deal proceeds, it will open access to the US$1 billion domestic US antimony market, while also expanding and diversifying feedstock for LKY’s DeepSolv™ processing technology, which is being developed in collaboration with Rice University.

The new claims double Locksley’s footprint in the Mojave region to more than 40km2, adjacent to MP Materials’ claims hosting the Mountain Pass rare earth mine.

More from Locksley Resources: Unlocking US antimony with Rice University

Pivotal step in growth

LKY chairman Pat Burke said the substantial expansion of the company’s landholding marked a pivotal step in Locksley’s growth.

“The site visit with brokers and analysts provided an excellent opportunity to showcase not only the scale of our tenure, but also the strategic importance of our position alongside MP Materials,” he said.

“With the US Government increasingly focused on securing domestic supply chains for critical minerals, Locksley is well placed to deliver a mine-to-market solution for antimony and rare earths.

“We look forward to progressing our exploration program and building long-term value for our shareholders.”

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.