Locksley Mobilises Structural Geologists Amid US Critical Minerals Push
Our US rare earths and antimony Investment Locksley Resources (ASX: LKY) just just deployed its structural geology team to its project next door to ~A$20BN MP Materials.
LKY field team will now work up four priority areas - the closest being ~1.4km away from MP’s mine - the only rare earths mine in the USA.
The work will include, mapping, sampling and building of a geological model of the project…
Which means we could get some surface sampling newsflow from LKY in the coming weeks.
Any clear, high priority rare earth targets that close to MP Materials could bring with it more market interest in the company’s assets.
Here are the area’s LKY will be working up relative to MP’s mine:
LKY increasing engagement with the US government too…
We also noticed LKY is increasing engagement with the US government and has:
- Lodged an application for a membership with the US Critical Materials Institute (CMI)
- Discussions have started with the US Export, Import bank (EXIM) and the Department Of Interior - this one is for financing, permitting frameworks and opportunities “under the Defense Production Act (DPA) and FAST-41”
- LKY is also advancing its processing strategy - which fits in well with the news from the Department Of Energy last week (which we covered in our weekender here).
On that front, LKY also mentioned that it would take part in the Department Of Energy’s Minerals & Materials Supply Chains Workshop on 20 August 2025.
(Source - Today’s Announcement)
What we want to see next from LKY
Drilling (this quarter) 🔄
LKY expects drilling to start next quarter, with first results expected before the end of this year.
Right now LKY is waiting for its expanded plan of operations to be approved (which is LKY expanding the size of its currently permitted drill program).
(Source)
Permitting for Phase 2 Drilling 🔄
LKY has lodged permits for an expanded Phase 2 drilling program on the Northern Block.
In the map below:
- Light blue stars = phase 1 drill program (fully permitted)
- Dark blue stars = phase 2 drill holes (permit pending)
Update on downstream initiative 🔄
LKY also flagged that it is actively looking at downstream opportunities.
Hopefully we see some newsflow on what the company has planned downstream in the near term, especially now with that news from the DoE last week.
Ideally, LKY’s downstream strategy will be in place before the upcoming drill program.
(Source)
