Locksley Resources Secures Drilling Permits for Mojave Rare Earths Project

Drilling Approvals Mark Major Milestone in Critical Minerals Strategy

Locksley Resources (ASX: LKY) has secured crucial drilling permits for its El Campo Rare Earths Prospect from the Bureau of Land Management (BLM), paving the way for the first subsurface exploration at this strategically positioned site. The approval covers five reverse circulation (RC) holes targeting rare earth elements with previous surface samples returning up to 12.1% TREO and 3.19% NdPr.

What makes this development particularly significant is the El Campo Prospect's location – strategically positioned within MP Materials claims and directly along strike from the Mountain Pass mine, the only integrated rare earth mining and processing facility in the United States.

Locksley Chairman Nathan Lude emphasised the strategic importance:

"Finalising the BLM approval process for drilling at El Campo marks a pivotal step in unlocking the rare earth potential of the Mojave Project. With direct proximity to MP Materials' infrastructure and outstanding surface results, El Campo is uniquely positioned to contribute to the reshoring of critical mineral supply chains in the United States."

The Mojave Project: A Prime Position in America's Critical Minerals Landscape

The Mojave Project represents a significant strategic asset in America's push for domestic critical minerals supply. Its location offers several compelling advantages:

• Just 1.4 km from MP Materials' Mountain Pass Rare Earths Mine
• Within 8 km of Dateline Resources' Colosseum Project (recently listed on Federal Permitting Dashboard)
• Covers over 200 claims spanning approximately 20 km²
• Contains multiple high-grade mineralised systems

The project's proximity to the only active rare earth producer in the U.S. is noteworthy. This positioning potentially allows Locksley to leverage existing infrastructure and expertise in the region, significantly reducing development costs and timelines if exploration proves successful.

Drilling Program: What Investors Should Know

The approved drilling program represents a significant advancement in Locksley's exploration strategy. Key details include:

The company has already mobilised its exploration team to the USA to commence initial field activities and engage with potential drilling contractors.

Understanding Rare Earth Elements: Why They Matter

Rare earth elements (REEs) are a group of 17 metallic elements crucial for manufacturing many high-tech devices and applications. Despite their name, most REEs are relatively abundant in the Earth's crust, but they rarely occur in concentrated, economically viable deposits.

NdPr (Neodymium-Praseodymium) is particularly valuable among REEs due to its essential role in manufacturing permanent magnets used in electric vehicles, wind turbines, and various defence applications. The concentration of 3.19% NdPr reported in Locksley's previous samples is significant, as these elements typically command premium pricing in the rare earth market.

What makes this project particularly noteworthy is that despite the U.S. government designating rare earth elements as critical minerals vital to economic and national security, America remains heavily dependent on imports, primarily from China, which controls approximately 85% of global processing capacity.

Key Applications of Rare Earth Elements

Rare earth elements serve crucial functions across multiple industries:

1. Permanent Magnets: Neodymium, praseodymium, dysprosium, and terbium are essential components in creating powerful permanent magnets used in:

   • Electric vehicle motors
   • Wind turbine generators
   • Hard disk drives
   • Speakers and headphones

2. Electronics and Display Technologies:

   • Europium and terbium provide red and green phosphors for screens
   • Yttrium compounds create white LED lighting
   • Cerium is used in polishing compounds for glass and semiconductors

3. Defence Applications:

   • Guidance systems
   • Communications equipment
   • Radar systems
   • Targeting mechanisms

4. Industrial Catalysts:

   • Lanthanum for petroleum refining
   • Cerium for automotive catalytic converters

The El Campo Prospect, with its significant surface indications of REE mineralisation, may potentially contribute to addressing supply chain vulnerabilities in these critical applications.

Alignment with US Federal Critical Minerals Strategy

Locksley's timing appears advantageous, with the project benefiting from recent policy changes:

• The BLM approval followed streamlined assessment under new federal guidance for critical minerals
• Recent March 2025 Executive Order regarding critical mineral expedition
• Growing federal support for domestic rare earth production

In parallel, the company continues to engage with the BLM regarding securing a drilling permit for the Desert Antimony Mine target, which it anticipates will also be expedited given the current administration's focus on developing US-based critical minerals.

Investment Potential: Key Considerations

For investors, Locksley's Mojave Project offers several compelling aspects to consider:

1. Strategic Location: The project's proximity to the only operating rare earth mine in the US provides potential infrastructure advantages and de-risks development pathways.

2. High-Grade Surface Results: Previous rock chip assays showing up to 12.1% TREO and 3.19% NdPr indicate potential for significant mineralisation.

3. Policy Tailwinds: Growing US government support for domestic critical minerals development creates a favourable regulatory environment.

4. Diversified Portfolio: Beyond the Mojave Project, Locksley maintains exploration interests in copper, gold, and base metal assets throughout Australia.

5. Upcoming Catalysts: With drilling anticipated to commence in the September quarter 2025, investors can expect a steady flow of news as the company advances its exploration program.

Why Investors Should Track Locksley Resources

Locksley Resources represents an opportunity to gain exposure to America's growing critical minerals sector at a relatively early stage. The company's strategic positioning within the rare earth supply chain—a sector that continues to gain geopolitical importance—provides potential for significant upside as exploration progresses.

The upcoming drilling program at El Campo marks a pivotal moment for the company, potentially advancing it from an early-stage explorer to a significant player in the US rare earth space. With a market cap that may not yet fully reflect the strategic value of its assets, Locksley offers investors exposure to the critical minerals theme with multiple near-term catalysts.

As global competition for secure supplies of critical minerals intensifies, companies with strategic assets in stable jurisdictions are likely to command premium valuations. Locksley's El Campo prospect, situated in proximity to America's rare earth district, positions the company well to potentially capitalise on this growing demand.

With field work already underway and drilling expected to commence in the coming months, investors may not have to wait long for potential value-driving news flow from this emerging critical minerals story.

Ready to Invest in America's Critical Minerals Future?

Discover how Locksley Resources is strategically positioned to capitalise on the rare earth elements market with its Mojave Project – just 1.4 km from America's only active rare earth mine. With outstanding surface results showing up to 12.1% TREO and drilling set to commence in Q3 2025, now is the time to investigate this compelling investment opportunity. Visit locksleyresouces.com.au to learn more about this ASX-listed company's potential to reshape critical mineral supply chains in the United States.