Locksley Resources Secures Critical Victory: El Campo REE Drilling Now Fully Approved
Locksley Resources Limited (ASX: LKY / OTCQB: LKYRF) has successfully defended its El Campo rare earths project against a challenge from neighboring mining giant MP Materials, with drilling now fully approved and on schedule to commence in September 2025.
Legal Victory Secures Path Forward for Strategic REE Project
In a significant development for shareholders, Locksley Resources has confirmed that the U.S. Bureau of Land Management (BLM) has upheld the company's right to proceed with exploration drilling at its El Campo rare earths prospect in California. This decision effectively dismisses concerns raised by MP Materials, owners of the neighboring Mountain Pass Mine, about the validity of Locksley's claims.
The BLM's State Director formally denied MP Materials' request for review of the drilling approvals on 6 June 2024, and MP Materials subsequently declined to file an appeal within the permitted timeframe. This regulatory confirmation represents a crucial validation of Locksley's compliance with all permitting requirements and strengthens the company's position as it advances toward its maiden drilling program.
"We have always maintained confidence in our legal standing at the Mojave Project. With the BLM's decision reinforcing the validity of our claims and our drilling approvals now secured, we are excited to advance our exploration program at El Campo according to schedule." – Nathan Lude, Chairman of Locksley Resources
Exploration Progress and Timeline
The company recently completed a structural geological mapping and sampling program between 18-25 June across both the El Campo and Desert Antimony Mine prospects. This critical work aims to produce detailed surface maps and 3D structural models of the target horizons to optimise drill targeting.
Key progress points include:
- Completed geological mapping and sampling (18-25 June 2025)
- Received BLM drilling approval and funded all required government fees and bonds
- Commenced site works to confirm drill collar locations
- Initiated contractor tender process with multiple drilling companies
Timeline to Drilling
| Milestone | Expected Timing |
|---|---|
| Completion of geological map and 3D model | July 2025 |
| Finalisation of drill contractor selection | July 2025 |
| Submission for additional drilling at Desert Antimony Mine | July 2025 |
| Secure approval for Desert Antimony Mine drilling | August 2025 |
| Commence drilling activities | Mid/Late September 2025 |
Understanding Rare Earth Elements: Why They Matter
Rare Earth Elements (REEs) comprise 17 metallic elements that, despite their name, are relatively abundant in the Earth's crust. However, they rarely occur in concentrated deposits that are economically viable to extract.
REEs are crucial components in many modern technologies including:
- Electric vehicles and hybrid cars
- Wind turbines and renewable energy systems
- Military defence applications
- Consumer electronics including smartphones
- Medical equipment
What makes REEs particularly strategic is that China currently controls approximately 85% of global processing capacity. The United States government has identified REEs as critical minerals essential for economic and national security, making domestic discoveries like El Campo potentially significant from both commercial and strategic perspectives.
Rare Earth Elements: A Deeper Look
Rare Earth Elements (REEs) consist of the 15 lanthanide elements (atomic numbers 57-71), plus scandium and yttrium. These elements are typically classified into two categories:
Light Rare Earth Elements (LREEs): Including lanthanum, cerium, praseodymium, neodymium, promethium, and samarium. These are generally more abundant and less valuable than HREEs.
Heavy Rare Earth Elements (HREEs): Including europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, and yttrium. These are generally less abundant and more valuable.
Despite their name, REEs are not particularly rare in terms of abundance in the Earth's crust. However, they are rarely found in concentrated, economically viable deposits. They typically occur together in the same ore deposits due to their similar chemical properties.
REE Applications and Market Dynamics
REEs possess unique magnetic, luminescent, and electrochemical properties that make them essential for various high-technology applications:
- Magnets: Neodymium, praseodymium, and dysprosium are used in powerful permanent magnets for electric vehicles, wind turbines, and consumer electronics.
- Catalysts: Cerium and lanthanum are used in petroleum refining and catalytic converters.
- Phosphors: Europium, terbium, and yttrium are used in LED lighting, displays, and lasers.
- Defense Applications: Various REEs are essential for precision-guided munitions, radar systems, and other military technologies.
The global REE market is expected to grow significantly, driven by increasing demand for electric vehicles, renewable energy, and advanced electronics. The current market is dominated by China, which controls approximately 85% of global processing capacity and produces about 60% of the world's raw REE materials.
Locksley's Strategic Position in Critical Minerals
Locksley Resources has positioned itself at the intersection of two compelling investment themes: rare earth elements and antimony – both classified as critical minerals by the U.S. government.
The Mojave Project encompasses over 250 claims across two contiguous prospect areas:
- El Campo Prospect – Located along strike of the Mountain Pass Mine (one of the world's premier rare earth deposits)
- Desert Antimony Mine – A historical high-grade antimony mine with surface samples grading up to 46% Sb and silver up to 1,022 g/t Ag
This dual focus provides investors with exposure to:
| Critical Mineral | Strategic Importance | Current Supply Challenge |
|---|---|---|
| Rare Earth Elements | Essential for green technology, defence, electronics | 85% of global processing controlled by China |
| Antimony | Critical for defence systems, semiconductors, flame retardants | No domestic U.S. production despite high demand |
Why Investors Should Follow Locksley Resources
Locksley Resources presents a compelling investment case for those seeking exposure to the critical minerals sector:
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Strategic Asset Location: The El Campo project lies along strike from the Mountain Pass Mine, one of the world's premier rare earth deposits, suggesting strong geological potential.
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Dual Critical Mineral Focus: Beyond rare earths, the company's Desert Antimony Mine prospect represents one of the highest-grade known antimony occurrences in the U.S., providing diversified critical mineral exposure.
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Regulatory Progress: The successful defence of its claims against MP Materials and subsequent drilling approvals demonstrate the company's ability to navigate complex regulatory environments.
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Imminent Catalysts: With drilling scheduled to commence in September 2025, investors can anticipate a steady flow of news regarding contractor selection, geological modelling, and ultimately drill results.
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Alignment with U.S. Strategic Priorities: As the United States seeks to reduce dependence on foreign sources of critical minerals, domestic projects like Mojave align with national security objectives and may benefit from supportive policies.
Company Background
Locksley Resources Limited is an ASX-listed explorer focused on critical minerals and base metals, with assets in both the United States and Australia. The company is actively advancing exploration across two key assets:
- The Mojave Project (California): Targeting rare earth elements and antimony
- The Tottenham Copper-Gold Project (New South Wales): Focused on VMS-style mineralisation in a well-established mining region
Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials' claims, highlighting the strong geological continuity and exploration potential of the project area.
Locksley's North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE and antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.
The company is committed to delivering value through discovery, development, and strategic partnerships, with a focus on securing access to U.S. aligned funding and downstream collaborations.
Key Takeaway
Locksley Resources has successfully cleared regulatory hurdles to advance its El Campo rare earths project toward drilling, with a strong legal position now confirmed by the BLM. With critical minerals becoming increasingly strategic in a world transitioning to green technology and facing geopolitical supply chain challenges, Locksley offers investors exposure to both rare earth elements and antimony through a focused exploration program in a tier-one jurisdiction.
With drilling approvals secured and a clear path forward, the company is positioned for a potentially transformative period as it advances toward its maiden drilling campaign in September 2025.
Ready to Invest in the Future of Critical Minerals?
For investors seeking exposure to strategically important rare earth elements and antimony, Locksley Resources presents a compelling opportunity with its fully approved El Campo project. To learn more about Locksley's upcoming drilling program, geological potential, and investment timeline, visit locksleyresouces.com.au for comprehensive investor information and to stay updated on this emerging critical minerals story.
