LKY Commences Diamond Drilling at Desert Antimony Mine

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Stock Locksley Resources Ltd (LKY.ASX)
Release Time 23 Feb 2026, 9:39 a.m.
Price Sensitive Yes
 LKY Commences Diamond Drilling at Desert Antimony Mine
Key Points
  • Diamond drilling commenced at high-grade Desert Antimony Mine in California
  • Targeting extensions of known high-grade stibnite mineralisation below historical workings
  • Surface mapping confirms primary vein geometries and optimises drill targeting
Full Summary

Locksley Resources Limited has commenced diamond drilling operations at the high-grade Desert Antimony Mine (DAM), located within the Company's Mojave Project in California, USA. The maiden drilling program is designed to target extensions of the known high-grade stibnite mineralisation below the historical workings. The commencement of drilling follows the successful completion of site establishment activities, including necessary earthworks and the construction of drill pads. During these site preparations, the Company conducted detailed surface exposure mapping, which provided critical geological data and confirmed the orientation and continuity of the primary stibnite veins at surface. The information gathered during this technical work has enhanced the drill sequencing across the Mojave Project to prioritise the highest confidence, near-term antimony targets. The drilling program aims to: target the depth and strike extensions of the high-grade mineralised system; test targets identified through historical mining, recent underground mapping, and 3D geological modelling; integrate data from stibnite veins in surface bedrock exposures; optimise diamond drill hole orientations to ensure maximum intersection of the high-grade lodes; and identify additional high-grade antimony mineralisation along strike. The commencement of drilling follows a period of intensive technical work at DAM, including high-grade batch sampling and detailed underground structural mapping. The integration of results from this technical work has allowed the interpretation of high-grade zones and has materially improved drill targeting confidence. The Desert Antimony Mine represents a rare opportunity to establish a primary, high-grade antimony source within the United States, aligned with national security, defence and advanced materials supply chains. The drilling program is fully funded and forms part of Locksley's broader mine-to-market strategy aimed at re-establishing domestic U.S. antimony supply.

Outlook

Locksley Resources is progressing the drilling program at the Desert Antimony Mine, with ongoing diamond drilling to further refine the geometry and evaluate the resource potential of the deposit. The Company will also commence drilling at the El Campo rare-earth element (REE) project, continue metallurgical test work around development of trioxide product for the U.S. defence industry, advance permitting for additional underground extraction of representative samples of stibnite mineralisation for metallurgical and processing studies, and design and construct a tender for the pilot processing plant.