Brought to you by BULLS N’ BEARSMurray WardMay 21, 2026 — 2:48pmLocksley Resources has delivered a major geological win at its Mojave project in California, with the maiden diamond drilling program at the historical Desert Antimony Mine (DAM) confirming high-grade mineralisation extends well below the old underground workings.Assays from the first six holes of an eight-hole campaign have verified the depth continuity of the system, returning exceptional peak grades of up to 33.51 per cent antimony.Old workings at Locksley Resources’ Desert antimony mine, part of its Mojave project in California, USA.The recently completed 1065-metre diamond core program, conducted between February and April, targeted the down-dip and strike extensions of the quartz-stibnite veins mined historically at DAM.Notably, all eight completed holes successfully intersected the targeted antimony mineralisation beneath the old workings.‘The results are consistent with the observations from surface sampling and underground mapping.’Locksley Resources non-executive technical director Ian StocktonThe standout result came from one hole, which snagged a thick 4-metre zone grading 4.87 per cent antimony from 32.7m featuring a bonanza slice of 0.4m at an eye-popping 33.51 per cent antimony from 33.3m.The same hole also hit a secondary zone of 0.6m at 1.74 per cent antimony from 52.5m.Nearby, a second hole also delivered the goods, returning 1.4m at 5.62 per cent antimony from 41.7m, including a higher-grade pocket of 0.4m at a hefty 8.81 per cent antimony. A third hole proved up consistency with an intercept of 2m at 2.69 per cent antimony from 64.1m, including 0.6m at 6.66 per cent antimony.Locksley says these new numbers stack up beautifully against the area’s rich history. Early production, as far back as the 1860’s, traditionally averaged grades between 15 per cent and 20 per cent antimony, meaning the company’s peak diamond drill intercept has comfortably eclipsed the grades encountered by the old-timers.Geological mapping has confirmed the mineralisation is hosted in subvertical quartz-stibnite veins and associated vein breccias within granite gneiss and tonalite.Importantly for Locksley, the results reveal that these high-grade veins occur within a broader, structurally controlled mineralised envelope, which the company says could point to the existence of a much bigger hydrothermal antimony system than previously recognised.Locksley Resources non-executive technical director Ian Stockton said: “Diamond drilling at the historic Desert antimony mine represents the first test of the depth extensions of known antimony mineralisation beneath the historical workings, with mineralised veins intersecting 90m below existing underground workings.“Beyond the immediate success at DAM, the company is actively exploring other critical mineral targets across its broader 40-square-kilometre Mojave tenure. At the nearby El Campo prospect, Locksley has completed four diamond drill holes for 434m, targeting a rare earth element carbonatite outcrop. All core logging is now complete, with samples currently undergoing analysis.Additionally, enhanced processing of a late 2025 thorium radiometric dataset at the rare earths prospect has successfully filtered out background noise from nearby historical waste dumps, unveiling several new, high-priority regional anomalies that are currently being investigated.Looking ahead, Locksley says it’s still waiting for final assay results from the remaining two drill holes at the Desert mine and the four holes from El Campo.The incoming data will be integrated into an updated three-dimensional geological model to refine future drill targeting. The company also plans to kick off metallurgical and mineralogical assessments at DAM, alongside ongoing regional mapping and rock-chip sampling across the broader Mojave project.With US domestic supply chains in sharp focus, Locksley looks to be rapidly carving out a path as a potential player in North American critical minerals.If these early drill hits are anything to go by, the company’s Desert Antimony Mine might just be about to wake up in a big way.Punters will likely be keeping a close eye out for the next batch of assays.Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.auFrom our partners