Locksley Resources Secures Permits and $1.47M for Mojave Drilling Push

Strategic Progress at Mojave Project

Locksley Resources Limited (ASX, LKY) has reported significant operational and strategic milestones during the June 2025 quarter at its Mojave Project in California. Located just 1.4 kilometres from the Mountain Pass rare earth mine; the only active rare earth producer in the U.S.; the project is positioned at the heart of America's critical minerals ambitions.

During the quarter, Locksley secured final drilling permits from the Bureau of Land Management (BLM) for both the Desert Antimony Mine (DAM) and the El Campo rare earth element (REE) prospect. These approvals pave the way for the company’s maiden reverse circulation (RC) drilling campaigns, targeting high-grade antimony veins and rare earth mineralisation zones identified through extensive surface sampling and mapping.

Technical Foundations and Fieldwork

Field mobilization commenced alongside detailed structural geology mapping, which has refined mineralisation targets and informed 3D geological models. At the Desert Antimony Mine, mapping confirmed multiple antimony-rich vein structures extending over 200 metres, while at El Campo, a steeply dipping shear zone hosting REEs was delineated, including a newly identified “South Fault” target. These insights underpin the expanded drilling plan submitted to the BLM, which aims to test an 850-metre strike extent at El Campo and multiple vein positions at DAM.

Extensive 3D modelling work supports the groundwork for a JORC Exploration Target, a critical step towards defining the project's resource potential. This technical progress enhances the precision of upcoming drilling operations, expected to commence in late September 2025.

Capital and Market Positioning

To fund these activities, Locksley completed a $1.47 million placement during the quarter, bolstering its cash position to approximately AUD 2.26 million. The company also successfully listed on the U.S. OTCQB market under the ticker “LKYRF,” broadening its access to North American investors and aligning with its strategic focus on the U.S. critical minerals sector.

Complementing its capital strategy, Locksley engaged Viriathus Capital as a U.S. strategic advisor to strengthen federal funding applications and investor relations. The company is actively pursuing grants and partnerships with U.S. federal agencies including the Department of Defense and Department of Energy, alongside collaborations with academic institutions focused on downstream processing and metallurgy research.

Outlook and Strategic Implications

With drilling permits in hand and funding secured, Locksley is poised to deliver its first-ever drilling results from the Mojave Project later this year. The proximity to Mountain Pass and the high-grade nature of the targets position the company well within the expanding U.S. critical minerals supply chain, which is increasingly prioritising domestic sources to reduce reliance on China.

While no mining production or development activities occurred during the quarter, the groundwork laid through permitting, mapping, and capital raising signals a pivotal phase for Locksley. The company’s ability to convert exploration success into defined resources and potential production will be critical in the coming quarters.