Drilling will test two geological ideas that could explain how the rare earths formed. One possibility is that the minerals are layered along natural rock boundaries, while the other is that they were forced into place by movement along a sheared, carbonatite-rich fault zone.
Either way, the results could reveal a brand-new source of rare earths in the US, just when the country is desperate to secure local supply and cut reliance on overseas producers.
Management says diamond drilling will deliver top-tier core samples for upcoming metallurgical tests and provide the structural clues needed to rapidly piece the project together and drive it forward.
Locksley Resources chief executive officer Kerrie Matthews said: “With BLM approvals in place and the drilling contractor engaged, the Company is now fully prepared to commence diamond drilling at El Campo and to evaluate the depth and continuity of REE mineralisation identified at surface and proximal to Mountain Pass.”
Locksley’s neighbour, the fabled Mountain Pass Mine, owned by rare earth major MP Materials, is the only active rare earths operation in North America and is the centrepiece of the United States’ strategic supply chain revival.
The location gives the company a powerful edge, putting it within reach of world-class processing facilities and a flood of government investment driving America’s rare earths comeback.
The US Government’s Department of Defense recently pumped more than US$400 into MP Materials to bolster domestic production. Tech titan Apple also took a half billion dollar swing at the rare earth producer at the same time, rounding out MP’s market darling status and underlining the fever pitch in the US around rare earths.
Apple’s partnership with MP aims to build a rare earths recycling plant at Mountain Pass and expand MP’s Fort Worth site to churn out recycled magnets for Apple’s next generation of devices.
This marked a bold pivot by Apple to break free from Chinese dependency and build a more domestic, circular economy for these critical materials.
The Cupertino colossus has vowed to go all-in on green tech, promising that by 2030 every product it makes will use only recycled and renewable materials – a sweeping commitment that could redefine how modern manufacturing is done.
Drilling at El Campo will take about three weeks once mobilisation begins, with pad preparation scheduled for November. Once complete, the same rig is expected to roll across to Locksley’s Desert antimony mine prospect, pending final approvals.
With the drill bits about to spin and global momentum swinging hard behind Western rare earths, Locksley couldn’t have timed its move better. If El Campo delivers on its surface promise, the company could find itself at the heart of America’s new critical minerals revolution.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
