Locksley Resources locks in rig for US rare earths push
- James Pearson
- Oct 22, 2025
- 4 min read
In a decisive move to kickstart rare earths exploration in the United States, ASX and US-listed Locksley Resources (ASX: LKY) has shifted gears by locking in a diamond drill rig and firing the starter’s gun on its first rare earths drilling campaign at the company’s exciting El Campo prospect in California’s Mojave Desert.
Ground crews are now preparing the pads before the track-mounted Titan HD diamond rig, which is already working nearby, rolls straight onto site in December for a smooth start to drilling.
The Bureau of Land Management has already given the green light under the Mojave project’s notice of intent, clearing the way for a quick five-hole, 750-metre diamond drilling campaign designed to probe the depths and scale of the high-grade mineralisation already mapped at surface.
The timing of the exploration program could not be better too after Australian Prime Minister Anthony Albanese sat down with President Trump yesterday to chart a path towards breaking China’s iron grip on critical minerals. The talks come a year after the Sino superpower began tightening the screws with export bans that rattled supply chains worldwide.
Although the full agreement has not been shared, Albanese said both Australia and the US will contribute US$1 (A$1.5) billion each over the next six months as part of a deal to create an US$8.5 billion ($13 billion) pipeline of projects, both in Australia and the US.
No doubt Locksley will be keen to pursue some of that funding.
Positioned just five kilometres from the world-class Mountain Pass mine, El Campo could place Locksley squarely on the radar of America’s critical minerals revival. The maiden drill program marks more than a technical step – it is also the opening move in a bold mine-to-market strategy aimed at reshaping the US rare earths landscape.
Locksley says the drill bit will be aimed at the source of some eye-catching surface numbers, where earlier rock chips returned up to 12.1 per cent total rare earth oxides (TREO) and an impressive 3.19 per cent neodymium-praseodymium (NdPr) - the prized metals used in high-strength magnets for electric vehicles, wind turbines and even defence systems.
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.
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 Resources CEO Kerrie Matthews
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: office@bullsnbears.com.au
