Locksley Halts Exploration at Mojave Project in the US

en.Wedoany.com Reported - On August 17, Locksley Resources announced the cessation of field exploration, drilling, and regional mapping activities at the Mojave Project claim area in California, USA, covering the Desert Antimony Mine antimony prospect and the El Campo rare earth prospect. The company will continue to pay relevant fees and fulfill regulatory requirements to maintain the existing claims at a low cost.

This decision stems from a technical, regulatory, and commercial review of critical mineral assets in the United States. Existing drilling at the Desert Antimony Mine identified antimony mineralization in quartz–stibnite veins and vein-hosted breccias, but the ore body structure is complex with limited demonstrated continuity, and more intensive drilling would be required to define further resource estimates. Drilling at El Campo also confirmed rare earth mineralization beneath surface outcrops, but current results have not yet shown sufficient scale and geological continuity.

Market changes also factored into this adjustment. The company cited S&P Global data indicating that the European CIF antimony spot benchmark price has fallen from $63,000 per tonne in mid-2025 to $27,000 per tonne, a decline of more than 57%; the price of antimony trioxide fell by over 41% over the same period.

Locksley has commissioned a US contractor to complete core storage wrap-up, on-site safety inspections, and environmental remediation of existing drill roads and drill pads. The company is also evaluating its DeepSolv hydrometallurgical technology collaboration with Rice University to determine whether to continue related work.