Locksley Resources Limited (ASX: LKY) has announced significant advancements in its exploration efforts for rare earth elements (REEs) with the identification of new targets adjacent to the Mountain Pass mine in California. On December 10, 2025, the company revealed that processing of high-resolution geophysical data from a recent helicopter-borne magnetic and radiometric survey is complete.
The survey uncovered a pronounced Thorium anomaly in the North Block claims of the Mojave Project, which serves as a crucial indicator for potential REE mineralisation. This discovery is particularly noteworthy as it is situated within the same geological district as the Mountain Pass Rare Earth Mine, the only operational REE mine in the United States. The presence of a strong Thorium signature at Mountain Pass supports the potential for similar mineralisation in the surrounding areas.
New Discoveries Enhance Exploration Prospects
The newly identified anomalies include a second Thorium signal trending parallel and 700 meters east of the high-grade El Campo Prospect, thereby opening avenues for potential parallel mineralisation. The high-resolution magnetic survey, conducted at a low altitude of 35 meters with tight 40-meter line spacing, has dramatically improved data quality compared to historical records. This enhanced precision has facilitated the identification of discrete, high-priority targets for further investigation.
Radiometric data from the survey revealed a significant Thorium anomaly in the northeastern section of the Mojave Project’s North Block claims, correlating with a notable weathering feature linked to regional drainage patterns. This anomaly is critical as it indicates potential shallow lithological compositions that may relate to REE mineralisation. The Company emphasises the importance of ground verification for these anomalies, as even minor surface expressions can indicate larger buried targets.
“The results from this high-resolution geophysical survey are a game-changer for our targeting at Mojave,”
said Kerrie Matthews, Managing Director and CEO of Locksley Resources. She further noted the transition from broad legacy data to detailed observations as akin to “turning on the lights in a dark room,” allowing for a clearer understanding of structural corridors and Thorium anomalies.
Next Steps and Future Goals
The company’s immediate focus is on field validation, which involves mapping and sampling to confirm the new targets identified in the survey. This groundwork will pave the way for defining new drill targets in 2026. The interpretation of the newly acquired magnetic data is ongoing, with structural insights expected to refine the geological understanding of the area further.
The strategic importance of the Mojave Project is underscored by the rising demand for REEs in various industries, especially in light of the United States’ objective to diversify supply chains away from reliance on China, the global leader in both REE and antimony production. The Mojave Project, located in the Mojave Desert and comprising over 250 claims, directly abuts claims held by MP Materials, enhancing its geological continuity and exploration potential.
Locksley Resources is also advancing its other projects, including the Tottenham Copper-Gold Project in New South Wales, Australia, while remaining committed to delivering shareholder value through strategic exploration and development in critical mineral sectors. As the company prepares for its maiden drilling program, it positions itself to contribute significantly to U.S. strategic objectives surrounding critical mineral independence and economic security.
