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An update from Locksley Resources Limited ( (AU:LKY) ) is now available.
Locksley Resources has begun a maiden diamond drilling program at its El Campo rare earth prospect within the Mojave Project in California, marking its first systematic subsurface testing of the target. The four-hole campaign will test sheared carbonatite-hosted mineralisation over about 900 metres of strike, following surface sampling that returned rare earth grades of up to 12.1% total rare earth oxides.
The fully funded program, expected to take three weeks, is designed to assess the scale, continuity, and geological characteristics of the mineralisation and to generate core for detailed analysis and future metallurgical work. Located roughly four miles from MP Materials’ Mountain Pass mine, one of the world’s leading rare earth operations, El Campo’s progress could enhance Locksley’s role in strengthening domestic U.S. supplies of critical minerals and inform future development and exploration strategies at the Mojave Project.
The most recent analyst rating on (AU:LKY) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Locksley Resources Limited stock, see the AU:LKY Stock Forecast page.
More about Locksley Resources Limited
Locksley Resources Limited is an exploration company focused on rare earth elements, with its flagship Mojave Project in California targeting critical mineral deposits. The company is positioning itself within the U.S. supply chain for rare earths, aiming to support domestic needs for defence, advanced manufacturing, and clean energy industries.
Average Trading Volume: 5,915,902
Technical Sentiment Signal: Hold
Current Market Cap: A$63.75M
For an in-depth examination of LKY stock, go to TipRanks’ Overview page.