Locksley Resources is accelerating development at its Desert Antimony Mine in California, delivering promising high-grade bulk sample results and advancing towards U.S. antimony production aligned with federal strategic goals.
- Exploration Target of 772,000 to 1,382,000 tonnes at 2.5% to 4.9% antimony
- High-grade bulk sample assays between 7.6% and 7.8% antimony with premium concentrate
- Structural stability confirmed for safe underground mine re-entry and phased development
- Leveraging $191 million LOI from U.S. Export-Import Bank for project financing
- Pilot plant and extraction studies planned for 2026 to establish domestic antimony supply
Strategic Advancement in U.S. Critical Minerals
Locksley Resources Limited (ASX – LKY) is making significant strides in re-establishing a domestic antimony supply chain in the United States through its Desert Antimony Mine (DAM) project in California. With antimony classified as a critical mineral essential for defense, semiconductors, and energy applications, the company’s progress aligns closely with U.S. federal initiatives aimed at securing strategic materials.
Recent technical milestones have bolstered confidence in the project’s viability. A comprehensive underground LiDAR survey mapped historic workings, enabling detailed 3D geological modelling. This, combined with surface mapping and sampling, has led to the establishment of an Exploration Target ranging from 772,000 to 1,382,000 tonnes of mineralised material grading between 2.5% and 4.9% antimony. While still conceptual and not yet a formal Mineral Resource, this target provides a solid framework for development planning.
High-Grade Bulk Sample Validates Processing Pathway
Metallurgical testwork on a recently collected 325 kg bulk sample from underground workings has returned encouraging results, with head grades between 7.6% and 7.8% antimony. Flotation testwork is underway, building on earlier sighter tests that produced a premium concentrate grading 68.1% antimony. These outcomes confirm the potential to produce high-quality antimony concentrate meeting industrial and defense specifications, a critical step towards establishing a mine-to-metal supply chain.
Complementing these findings, an underground assessment by a U.S.-based mining engineering consultant has confirmed the structural stability and accessibility of the historic DAM workings. This supports safe re-entry and phased mine development, with plans to engage contractors for extraction activities and submit permitting applications for initial mineralised material extraction.
Financing and Development Plans Accelerate
Locksley is leveraging a recent Letter of Intent (LOI) for US$191 million from the U.S. Export-Import Bank to secure definitive financing for project development. This financial backing, combined with ongoing permitting efforts and pilot plant design targeting 2026 operations, positions the company to transition from exploration to production rapidly.
Further exploration activities, including drilling at the DAM prospect and regional geophysical surveys, are planned to refine resource estimates and expand the project’s footprint. The company’s integrated approach also includes partnerships with U.S. research institutions to develop advanced antimony extraction technologies, reinforcing its commitment to a fully domestic supply chain.
Positioning for U.S. Critical Mineral Independence
With no current domestic antimony production in the U.S., Locksley’s project represents a strategically important opportunity to reduce reliance on foreign sources, particularly amid geopolitical tensions surrounding supply chains. The company’s progress at DAM, supported by strong technical data and institutional financing interest, underscores its potential role as a key contributor to America’s critical minerals independence.
CEO Kerrie Matthews highlighted the significance of these developments, noting the alignment of technical milestones with federal policy momentum and the company’s focus on delivering antimony products into the U.S. market.
Bottom Line?
Locksley’s rapid advancement at DAM signals a promising revival of U.S. antimony production, but upcoming drilling and permitting will be critical to confirm its path forward.
Questions in the middle?
- Will drilling results validate the Exploration Target and enable a formal Mineral Resource estimate?
- How will the ongoing U.S. federal government shutdown impact permitting and project timelines?
- What are the definitive terms and timing for securing the $191 million financing package from EXIM?