Locksley ceases exploration on US antimony, rare earth prospects
ASX-listed Locksley Resources has decided to cease all active field exploration activities at both the Desert Antimony mine and El Campo rare earths prospects, within the broader Mojave project area of the company in California, in the US.
The company undertook a technical, regulatory and commercial review of its critical minerals portfolio in the US, determining that further material exploration at Desert Antimony and El Campo do not currently justify additional exploration expenditure.
The decision took into account a 57% collapse in spot antimony prices this year, having dropped from mid-2025 peaks of $63 000/t to $27 000/t.
Locksley will, however, maintain its existing claims in good standing and on a low-cost basis, subject to periodic review, to preserve future strategic optionality.
The company is focused on ensuring that shareholder capital is deployed into projects demonstrating the highest probability of commercial scale and value generation.
Locksley elaborates that while diamond drilling across the Mojave project previously determined antimony mineralisation within sub-vertical quartz-stibnite veins and associated vein breccias, there is structural complexity to consider, especially given the limited continuity of mineralisation demonstrated.
The company would have to conduct more close-spaced drilling to further assess geological continuity and establish the geological confidence necessary to evaluate the potential for future resource definition.
This while drilling at El Campo has also confirmed rare earths mineralisation, however, the board determined that further material exploration expenditure across this US asset is not warranted at this time.
Locksley also holds exploration licences for copper at the Tottenham and Iron Duke projects, in New South Wales.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
