Did Locksley Resources (ASX: LKY) just change the scale potential of its Mojave antimony project?

Locksley Resources Limited (ASX: LKY) has identified a new, large-scale structural target at its Mojave Project in California after detailed underground mapping revealed a previously unrecognised 10 to 15 metre wide shear corridor known as the Beefeater Shear. The discovery materially alters the geological interpretation of the Desert Antimony Mine area and expands the company’s near-term drilling and resource growth optionality. Strategically, the findings strengthen the case that Mojave hosts multiple mineralised structures rather than a single isolated high-grade vein system.

How does the identification of the Beefeater Shear change the geological and economic narrative of the Mojave Project?

The identification of the Beefeater Shear represents more than incremental target generation. A 10 to 15 metre wide, north–south striking structural corridor positioned between the Desert Antimony Mine and the Hendricks prospect materially increases the addressable footprint of the Mojave mineral system. The key analytical shift is that antimony mineralisation at Mojave may be structurally replicated across multiple parallel corridors of similar timing and kinematic history, rather than confined to a single dominant lode.

From an exploration economics perspective, wide shear corridors with diagnostic alteration signatures significantly reduce the binary risk often associated with narrow vein systems. The intense goethitic alteration and quartz-calcite dominated shear-breccia veining mapped at Beefeater mirror the surface expression of the known high-grade Desert Antimony Mine system. This structural similarity raises the probability that future drilling intersects mineralisation even before assays confirm grade distribution.

Critically, Beefeater sits in an underexplored zone that bridges two known prospects. This positioning improves logistical efficiency for follow-up work and supports a hub-and-spoke drilling strategy rather than isolated testing.

Why does underground structural mapping at the Desert Antimony Mine materially de-risk drill targeting?

The most consequential outcome of the mapping campaign may be the reinterpretation of “pinched out” veins at the Desert Antimony Mine. Detailed underground mapping confirmed that apparent vein terminations are often the result of later east–west striking shear offsets rather than true geological ends.

This distinction is not academic. Offset veins imply displaced high-grade blocks that remain intact and recoverable with informed targeting. By quantifying both dip-slip and dextral strike-slip movements along these cross-cutting structures, Locksley Resources Limited can now vector drill holes toward faulted extensions with significantly higher confidence.

In junior mining terms, this is a classic value inflection mechanism. The same tonnes and grade potential may already exist, but without structural clarity they remain effectively invisible to the drill bit. Structural resolution converts perceived geological risk into execution risk, which is typically more manageable.

How do newly identified shear zones south of Hendricks expand Mojave’s upside beyond the historic mine area?

Mapping south of the Hendricks prospect identified additional north–south striking shear zones exhibiting the same geological fingerprint as the Desert Antimony Mine. These zones show intense goethite alteration and quartz-dominated shear-breccia veins, features commonly associated with hydrothermal fluid pathways capable of concentrating high-grade antimony.

The implication is that the Northern Block of the Mojave Project may host a much broader mineralised architecture than previously recognised. Rather than a single mine-centric system, Mojave increasingly resembles a district-scale structural corridor with multiple repeating targets.

For future resource modelling, this supports a scenario where scale emerges not from deeper extensions alone but from lateral replication of mineralised structures. That distinction matters for capital planning, permitting timelines, and long-term development optionality.

What does this tell investors about Locksley Resources Limited’s exploration strategy discipline?

Locksley Resources Limited’s approach reflects a measured sequencing of technical work ahead of aggressive drilling. Rather than rushing to expand drill density, the company prioritised high-resolution underground mapping to de-risk targeting.

This discipline is particularly relevant in the context of critical minerals funding cycles, where capital markets increasingly reward technical confidence over promotional momentum. By aligning structural interpretation with drill planning, the company increases the likelihood that early drilling converts into resource growth rather than geological learning exercises.

The stated next steps focus on optimising drill hole placement, receiving pending assays, and conducting systematic surface sampling along Beefeater. Importantly, future diamond drilling is positioned as an evaluation step rather than an assumed necessity, reinforcing capital restraint.

How does antimony exposure at Mojave fit into the broader U.S. critical minerals narrative?

Antimony occupies a strategic niche in U.S. critical minerals policy due to its use in defence, flame retardants, and advanced technologies, combined with concentrated global supply chains. Domestic antimony projects are scarce, and any credible pathway to U.S.-based production carries disproportionate strategic optionality.

Locksley Resources Limited’s mine-to-market framing for antimony at Mojave aligns with this policy backdrop. While the current announcement is technical rather than commercial, expanding the structural inventory of potential antimony mineralisation improves the long-term relevance of the project within U.S. supply chain discussions.

This strategic context does not remove geological or execution risk, but it does elevate the potential significance of success relative to many globally diversified commodities.

What are the primary execution risks following this structural breakthrough?

Despite the positive implications, several risks remain. Assays from surface and underground sampling are still pending, and structural similarity does not guarantee economic grade continuity. Wide shear corridors can host mineralisation that is geologically interesting but commercially discontinuous.

There is also operational risk in translating underground structural insights into surface drill accuracy, particularly in structurally complex terrains. Misinterpretation of offset magnitudes could still result in missed targets.

Finally, as with all junior explorers, capital availability and permitting cadence in California will influence how quickly structural insights convert into tangible resource outcomes.

How is the market likely to interpret this update in the context of Locksley Resources Limited shares?

Market reaction to structural announcements tends to be measured rather than exuberant, particularly in the absence of assay data. However, institutional and technically oriented investors often view this type of update as a quality signal rather than a price catalyst.

The reframing of Mojave as a multi-structure system increases perceived optionality without materially increasing capital risk in the near term. For longer-horizon investors focused on critical minerals exposure, this strengthens the narrative that Mojave is not a single-shot exploration story.

Short-term share price sensitivity is likely to hinge on upcoming assay results and drill confirmation rather than the mapping itself, but the groundwork for value creation has clearly improved.

Key takeaways: What this Mojave mapping breakthrough means for Locksley Resources Limited and antimony investors

• The identification of the Beefeater Shear materially expands the structural search space at the Mojave Project beyond the historic Desert Antimony Mine

• Underground mapping has converted apparent vein terminations into offset targets, improving drill success probability

• Mojave increasingly appears to host a multi-structure antimony system rather than a single isolated lode

• Structural clarity reduces geological uncertainty and shifts risk toward execution and capital management

• Newly mapped shear zones south of Hendricks add lateral scale potential to the Northern Block

• The company’s sequencing of mapping before aggressive drilling reflects disciplined exploration strategy

• Antimony exposure aligns with U.S. critical minerals priorities, amplifying strategic optionality

• Near-term catalysts now centre on assays and drill validation rather than conceptual upside alone

• Investor sentiment is likely to remain cautious but constructive pending data confirmation