Locksley Advances Toward U.S. Antimony Production
Jane Morgan Management
Locksley Resources Limited (ASX: LKY; OTCQX: LKYRF; FSE: X5L) today announced a major step forward in its U.S. Mine-to-Market strategy, rapidly advancing the redevelopment of the Desert Antimony Mine (DAM) in California and positioning the Company as a future domestic antimony producer.
Recent technical milestones, including a LiDAR underground survey, bulk metallurgical testwork, underground access assessment and the establishment of a maiden JORC (2012) Exploration Target have given Locksley the confidence to commence extraction planning and accelerate toward pilot-scale production in 2026.
Fast-Track Development Toward Near-Term Production
Locksley has initiated Expressions of Interest (EOI) with U.S. engineering contractors for the commencement of mineralisation extraction at DAM, representing the start of development activities and positioning the Company as a near-term U.S. antimony supplier. The Company is simultaneously progressing financing, permitting and pilot-plant design.
A recent assessment of historical underground workings confirmed structural stability and accessibility, supporting safe re-entry and phased mine development. A mining engineer is scheduled to undertake an on-site inspection in November as part of detailed engineering studies aligned to the planned pilot-plant throughput.
High-Grade Bulk Sample Underpins Processing Strategy
Metallurgical results continue to validate the quality of DAM mineralisation. A newly completed 325 kg bulk sample has returned high head grades of 7.6–7.8% Sb, complementing earlier sighter testwork on a 23.1 kg sample grading 9.6% Sb, which successfully produced a 68.1% Sb premium concentrate, meeting industrial and defence specifications.
These results support Locksley’s downstream strategy, including:
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Its MoU with Hazen Research for U.S.-based processing
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Ongoing collaboration with Rice University on advanced extraction technology using DeepSolv™
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Significant Exploration Target Established
Based on integrated geological modelling, LiDAR mapping, surface sampling and underground observations, Locksley has established a maiden Exploration Target of:
772,000 – 1,382,000 tonnes at 2.5% – 4.9% Sb
Containing 19,400 – 67,700 tonnes of antimony metal (JORC 2012)
The Company cautions that the potential quantity and grade are conceptual in nature and that insufficient exploration has been undertaken to estimate a Mineral Resource.
This initial target supports conceptual planning for a pilot-scale operation and provides a framework for future resource drilling.
Kerrie Matthews, Managing Director & CEO, commented:
“This is a pivotal moment for Locksley, marking the rapid advancement towards the Company becoming a Developer, with an end-to-end supply chain strategy from Mine-toMetal. All technical steps, from establishing the exploration target, to achieving the 68.1% concentrate grade and to evaluating the underground workings aligns with this strategy. The successful execution of these three integrated phases has significantly advanced the Company towards mitigating the key uncertainties associated with planning for recommencing operations. We are focused on further enhancing our understanding of DAM and working in parallel with US government on permitting, finance, and ultimately physically delivering antimony product into the U.S. market.”
Next Steps
With multiple workstreams advancing in parallel, Locksley is now moving decisively from exploration to execution, including:
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Finalising development planning informed by new technical datasets
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Engaging a mining engineering consultant with expertise in recommencing historical operations
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Conducting an EOI and tender process for extraction contractors
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Submitting an amended Plan of Operations to the Bureau of Land Management (BLM)
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Advancing definitive financing discussions with the U.S. Export-Import Bank (EXIM), following its US$191 million Letter of Interest
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Continuing metallurgical testwork to produce offtake-ready samples for industrial and defence customers
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Commencing drilling at DAM to inform a maiden JORC (2012) Mineral Resource Estimate
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These initiatives place Locksley at the forefront of efforts to rebuild a fully integrated, 100% American mine-to-metal antimony supply chain, aligned with federal policy priorities and domestic defence-industrial requirements.
For further information, please contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
[email protected]
About us:
About Locksley Resources Limited
Locksley Resources Limited is focused on critical minerals in the United States of America. The Company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at re-establishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This integrated approach combines resource development with innovative processing and separation technologies, positioning Locksley to play a key role in advancing U.S. critical minerals independence.
Contact details:
Jane Morgan – Investor & Media Relations
+61 (0)405 555 618
[email protected]
