Locksley Resources Achieves Antimony Processing Breakthrough With Rice University

What Are the Locksley Resources Antimony Processing Breakthrough Results?

Locksley Resources Ltd (ASX: LKY) has reported what it describes as a Locksley Resources antimony processing breakthrough with Rice University, with laboratory work indicating that the DeepSolv™ hydrometallurgical process can dissolve antimony-bearing ore and concentrates and recover high‑purity antimony oxide and metallic antimony products.

According to the ASX announcement dated 9 July 2026, raw ore samples containing approximately 9–12% antimony (Sb) were upgraded to recovered products grading up to 93% Sb following optimisation, while antimony concentrates grading approximately 65–70% Sb produced recovered products grading approximately 91–96% Sb.

Importantly for investors, the program has also demonstrated electrodeposition of pure metallic antimony from DeepSolv™ leach solutions, pointing to a technically integrated mine‑to‑metal pathway under laboratory conditions.

For Locksley Resources Ltd, which is executing a mine‑to‑market strategy centred on its Mojave Project in California, these results provide further technical support for its downstream processing plans in the United States.

What the Rice University Results Actually Show

According to Locksley Resources Ltd, laboratory testing at Rice University has now delivered encouraging outcomes across both dissolution (leaching) and recovery workstreams using the DeepSolv™ technology.

Key reported metrics include:

• Raw ore feedstock

  • Starting grade: approximately 9–12% Sb
  • No flotation or prior concentration applied
  • Initial recovered product grade: 89% Sb
  • Optimised recovered product grade: up to 93% Sb

• Antimony concentrate feedstock

  • Starting grade: approximately 65–70% Sb
  • Recovered product grade: approximately 91–96% Sb

These data points can be summarised as follows:

The announcement also reports that the Rice team has produced phase‑pure antimony oxide from raw ore under optimised laboratory conditions. In practical terms, "phase‑pure" refers to a product where the recovered antimony oxide exists as a single, well‑defined chemical phase without measurable contamination from other mineral phases, which is important for consistent product quality.

In parallel, electrodeposition testwork is reported to have:

• Recovered pure metallic antimony directly from DeepSolv™ solutions derived from raw ore
• Demonstrated an integrated sequence from ore leaching through to antimony metal recovery at the laboratory scale

Collectively, these outcomes indicate an increasingly connected processing route, moving from ore dissolution to the recovery of both high‑purity antimony oxide and metallic antimony products.

For investors, the key point is that this work shifts DeepSolv™ from early‑stage leaching tests towards a more integrated flowsheet, which is relevant to evaluating potential future processing options for Locksley Resources Ltd and other suitable antimony feedstocks in the United States.

DeepSolv™ Explained: Making Hydrometallurgy More Accessible

The announcement frames DeepSolv™ as a low‑temperature hydrometallurgical process being assessed as a cleaner, lower‑impact alternative to conventional smelting and some traditional chemical leaching methods. To understand why this matters, it is useful to outline several core concepts.

What Is Hydrometallurgy?

Hydrometallurgy is a method of extracting metals using water‑based chemical solutions instead of very high‑temperature furnaces.

At a basic level:

• Ore is crushed and sometimes ground into smaller particles.
• A chemical solution is used to dissolve selected metals from that solid material. This step is commonly known as leaching.
• Metals are then recovered from the solution, often through:
  • Precipitation (forming a solid compound)
  • Solvent extraction (separating metals into another liquid)
  • Electrodeposition (using an electric current to plate pure metal onto a surface)

DeepSolv™ is the specific hydrometallurgical system being evaluated at Rice University for antimony recovery.

Why Does DeepSolv™ Matter for Antimony?

Traditional antimony processing often involves high‑temperature smelting, which can:

• Require substantial energy input
• Generate emissions that are subject to tightening environmental regulations
• Be less flexible in dealing with variable ore types compared with some hydrometallurgical routes

According to Locksley Resources Ltd, a low‑temperature hydrometallurgical pathway such as DeepSolv™ could potentially offer:

• Lower energy requirements than smelting, due to operation at lower temperatures
• Potentially reduced environmental footprint, when compared with some conventional processing routes, subject to reagent selection and solvent recycling performance
• Feedstock flexibility, with both raw ore and concentrate having been processed in the Rice program
• Potential suitability for U.S. deployment, which is relevant in a jurisdiction where environmental permitting for new high‑temperature facilities can be challenging

Furthermore, whether these benefits can be achieved at commercial scale remains a question for future pilot testing and economic assessment, but the laboratory results provide early technical validation.

Glossary of Key Terms for Non‑Specialists

To make the technical content of the announcement more accessible, several important terms can be defined as follows:

• Hydrometallurgy: A group of processes using water‑based chemical solutions to dissolve and recover metals at relatively low temperatures, compared with smelting.
• Leaching: The step where a chemical solution is used to dissolve target metals from crushed ore or concentrate.
• Antimony oxide (Sb₂O₃): A chemical compound produced from antimony, commonly used in flame retardants, some plastics, glass, and certain electronic applications.
• Electrodeposition: A method of producing pure metal from a solution by passing an electric current through it, causing the metal to plate onto an electrode.
• Flotation / concentration: Physical processes, typically done before chemical processing, that separate valuable minerals from waste rock and increase the grade of the product.
• Phase‑pure: A product where only one chemical or mineral phase is present to a high degree of purity, which is important for consistent quality.

For investors analysing Locksley Resources Ltd, understanding these concepts helps clarify how DeepSolv™ might fit into a future processing chain and why step‑by‑step experimental validation is important.

Rice University Partnership: Structure, IP and Mine‑to‑Market Strategy

Locksley Resources Ltd describes its collaboration with Rice University as a core part of its mine‑to‑market strategy for antimony and rare earth elements at the Mojave Project in California.

Purpose and Structure of the Collaboration

According to the ASX announcement, the Rice University partnership is focused on:

• Advancing innovative hydrometallurgical technologies for antimony recovery
• Supporting the development of domestic U.S. critical minerals processing capability
• Evaluating scalable processing solutions for U.S.‑sourced antimony feedstocks

Rather than a short, discrete academic study, the program is being progressed through defined stages:

1. Laboratory validation of DeepSolv™ for antimony dissolution and recovery
2. Process optimisation, including product purity and solvent management
3. Pilot‑scale planning, covering equipment selection and larger‑scale testwork

The Mojave Project provides representative antimony feedstocks for this program, enabling Rice and Locksley Resources Ltd to test DeepSolv™ on realistic ore and concentrate samples.

Intellectual Property Framework

A key feature of the collaboration is the Sponsored Research Agreement between Rice University and Locksley Resources Ltd.

Under this agreement:

• Intellectual property (IP) generated through the program is jointly owned by Rice University and Locksley
• Any future DeepSolv™‑related technology arising from this research may therefore be available to Locksley for commercial application, subject to future agreements and conditions

The announcement also notes that the processing knowledge and IP being developed could have wider application across suitable U.S.‑sourced antimony feedstocks, not just material from Mojave. This could have long‑term relevance for Locksley Resources Ltd as the owner of jointly held IP in a context where the United States is seeking to strengthen critical mineral supply chains.

"These latest results represent another important technical milestone in our collaboration with Rice University. They demonstrate that DeepSolv™ processing technology has the potential to unlock a cleaner and more flexible antimony recovery pathway. The work has now moved beyond simple leaching tests and has demonstrated recovery of both antimony oxide and metallic antimony products from ore and concentrates. For shareholders, this is meaningful progress. It supports the Company's strategy of advancing U.S. based antimony processing capability at a time when secure domestic supply chains for critical minerals are increasingly important," said Kerrie Matthews, Managing Director & Chief Executive Officer of Locksley Resources Ltd.

Next Steps: Process Optimisation and Path Toward Pilot Scale

According to the ASX announcement, the next phase of the Rice University program is focused on both refining the DeepSolv™ process and preparing for potential pilot‑scale testing.

Process Optimisation Work Program

The upcoming optimisation activities are reported to include:

1. Further purification of recovered antimony products to improve product quality.
2. Production of single‑phase antimony oxide at higher solid‑to‑liquid ratios, which tests how the process performs when more material is processed per unit of solution.
3. Solvent recyclability studies, a key input to both environmental impact and long‑term operating cost evaluation.
4. Recovery testing using recycled DeepSolv™ solvent, to evaluate performance after multiple use cycles.
5. Electrodeposition rate determination, which helps quantify how fast metallic antimony can be recovered from solution.
6. Ongoing refinement of process chemistry, fine‑tuning reagent concentrations, operating conditions and flowsheet design.

Scale‑Up and Pilot‑Level Planning

In parallel with laboratory optimisation, Locksley Resources Ltd and Rice University intend to:

• Assess pilot‑scale equipment options, including reactors for leaching and filtration systems for solid‑liquid separation
• Plan for larger‑scale testwork, which is typically required before commercial decisions can be considered
• Evaluate downstream product applications for recovered antimony oxide and metallic antimony, aligning potential products with market requirements

A summary of the main planned activities is set out below:

From an investment perspective, success in these stages would provide additional technical data points relevant to assessing any future decision on constructing pilot or demonstration‑scale facilities. However, the announcement does not present economic studies or detailed cost estimates at this stage.

Educational Section: Why Antimony Processing and Domestic Supply Matter

For readers less familiar with antimony and its processing, several broader context points may help frame the importance of the DeepSolv™ work undertaken by Locksley Resources Ltd and Rice University.

What Is Antimony and Where Is It Used?

Antimony is a metallic element used in various industrial applications, mainly in the form of antimony trioxide (Sb₂O₃) and antimony metal alloys.

Key uses include:

• Flame retardants: Antimony trioxide is widely used with halogenated compounds in plastics, textiles and other materials to improve fire resistance.
• Lead‑acid batteries: Antimony is alloyed with lead to improve hardness and performance.
• Glass and ceramics: Antimony compounds help control colour and clarity.
• Electronics and semiconductors: Certain antimony compounds are used in specialised electronic applications.

Because of these uses, antimony is often classified as a critical mineral in several jurisdictions, including the United States, where imported supply has historically dominated consumption.

Why Is Domestic Antimony Processing Being Pursued?

In its announcement, Locksley Resources Ltd highlights a focus on re‑establishing domestic supply chains for critical materials in the United States. Several considerations are relevant:

• Supply security: Heavy reliance on imports can expose downstream manufacturers to supply disruptions.
• Regulatory environment: New smelting capacity can face strict permitting requirements, motivating interest in lower‑impact processing routes.
• Value addition: Processing ore domestically, rather than exporting raw materials, can retain more value within the jurisdiction where the resource is located.

The Rice University collaboration is consequently positioned by Locksley Resources Ltd as a way to investigate whether a modern, hydrometallurgical antimony processing route could contribute to that objective, subject to future technical and economic validation.

Hydrometallurgical vs Smelting Routes: Key Technical Differences

While both routes aim to extract metal from ore, they differ in several ways:

• Operating temperature
  • Smelting: Very high temperatures to melt and separate metal.
  • Hydrometallurgy: Lower temperatures using chemical solutions.

• Flexibility
  • Smelting: Often best suited to specific, relatively uniform feedstocks.
  • Hydrometallurgy: In some cases, can accommodate a range of ore types and grades.

• Environmental management
  • Smelting: May involve off‑gas treatment and slag handling.
  • Hydrometallurgy: Focuses on solution management, reagent consumption and solvent recycling.

The DeepSolv™ process, as reported by Locksley Resources Ltd, is being tested to see if it can combine lower operating temperatures with effective recovery of high‑purity antimony products, while also maintaining solvent recyclability.

Investment Case: How This Fits Into Locksley Resources' Mine‑to‑Market Strategy

Locksley Resources Ltd is focused on critical minerals in the United States, with its Mojave Project in California targeting rare earth elements (REEs) and antimony. The company states that it is pursuing an integrated mine‑to‑market strategy for antimony, combining upstream resource development at Mojave, midstream processing innovation via the Rice University DeepSolv™ program, and a broader aim to support domestic U.S. critical mineral supply chains.

From an investor standpoint, the 9 July 2026 announcement reinforces several elements of this thesis:

• Technical risk reduction: Demonstrated dissolution of ore and concentrates, production of antimony oxide, and electrodeposition of metallic antimony suggest that an integrated DeepSolv™ flowsheet is technically plausible at the laboratory scale.
• Product flexibility: The ability to recover both antimony oxide and metallic antimony may provide optionality regarding future product mix, subject to market and technical considerations.
• Joint IP ownership: The Sponsored Research Agreement with Rice University, with jointly owned IP, positions Locksley Resources Ltd to potentially benefit from future commercialisation of DeepSolv™‑related technologies.
• Alignment with U.S. critical mineral objectives: The focus on U.S.‑sourced feedstocks and domestic processing capability aligns with publicly stated U.S. policy interest in critical mineral supply chain resilience, although the announcement does not indicate any project‑specific government funding or designation.

Future updates are expected as the collaboration advances through the next stages of optimisation, solvent recyclability assessment, pilot‑scale equipment evaluation and downstream product application studies. For investors tracking the Locksley Resources antimony processing breakthrough with Rice University, the evolution of this program will likely form a key part of evaluating the company's downstream processing capability alongside its project‑level exploration and development activities.

Want to Learn More About Locksley Resources' Mine-to-Market Antimony Strategy?

For investors seeking exposure to a critical minerals company advancing an integrated U.S. antimony processing strategy, Locksley Resources Ltd (ASX: LKY) offers a compelling combination of upstream project development at its Mojave Project and downstream processing innovation through its Rice University partnership. To explore the company's full strategy, project pipeline, and the latest developments in its DeepSolv™ hydrometallurgical program, visit the Locksley Resources website.