American Uranium (AMU:AU) has announced Lo Herma Resource Drilling Timing Confirmed
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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is pleased to advise that a senior Locksley team has completed a visit to Rice University in Houston, Texas, to formally evaluate the Company’s research collaboration with Rice.
Highlights
– Given increased industry interest in DeepSolv(TM), the Company has requested the expansion & acceleration of the Rice technology program
– The expansion would include the following components:
o Testing of multiple antimony feedstocks at different processing stages, direct ore, post DMS and high-grade concentrates
o Testing of antimony feedstock from multiple sources including the Mojave Project, EV Resources and additional other 3rd party samples
– Meetings held with Professor Pulickel Ajayan, Rice Executive Vice President for Research, and Technology Transfer Office
– Dedicated project workshop with the Ajayan research team to discuss technical programs
– Locksley in discussions with an additional mining group regarding the opportunity of evaluation the DeepSolv(TM) technology
– Locksley is focused upon providing Antimony processing independence to the USA and the opportunity presented by the $1.5bn+ domestic market
During the visit, the Locksley team met with Professor Pulickel Ajayan and members of his laboratory, senior Rice administrators including the Executive Vice President for Research and the Office of Technology Transfer and representatives from Rice Public Affairs. These discussions were followed by a dedicated project workshop with the Ajayan group, providing the foundation for the joint technical program under the collaboration.
The work program, formally launched through this visit, will focus on two parallel thrusts:
1. The development of DeepSolv(TM) product, for the extraction and refining of antimony feedstocks
2. The evaluation of antimony-based materials for advanced energy storage applications
As previously announced, Locksley has secured an agreement with EV Resources for the supply of external antimony ore, which will be incorporated alongside feedstock from the Mojave Project to support the development of DeepSolv(TM). In addition, DeepSolv(TM) continues to gain industry momentum, with discussions now underway with an additional potential user for the treatment of antimony ore. Given the growing industry interest in DeepSolv(TM) the Company is actively evaluating options to expand and accelerate the Rice technology program.
Locksley views the Rice partnership as a cornerstone of its U.S. strategy, providing access to world class expertise and positioning the Company to advance both upstream and downstream opportunities in antimony and rare earths.
Locksley’s Chairman Patrick Burke, commented:
‘This visit marks an important milestone in Locksley’s mine-to-market strategy to onshore the supply of antimony and rare earths into the United States. By formally commencing our collaboration with Rice University and incorporating additional ore supply secured through our agreement with EV Resources, we have laid the foundation for a practical and accelerated testwork program. These initiatives position Locksley at the centre of developing a secure domestic supply chain, aligned with U.S. government priorities. We look forward to working closely with Professor Ajayan and his team as we move rapidly toward delivering tangible results.’
*To view images and figures, please visit:
https://abnnewswire.net/lnk/U3C84R75
About Locksley Resources Limited:
Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.
Mojave Project
Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.
In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.
Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.
Tottenham Project
Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation
Source:
Locksley Resources Limited
Contact:
Locksley Resources Limited
T: +61 8 9481 0389
E: info@locksleyresources.com.au
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Here’s a quick recap of the crypto landscape for Monday (September 29) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
After opening on Monday at its lowest valuation of the day, US$112,168, Bitcoin (BTC) reached a high of US$114,336, a 3.6 percent increase in 24 hours. The cryptocurrency dipped below US$110,000 last week, but its Sunday (September 28) night rebound liquidated roughly US$250 million in short positions.
Bitcoin price performance, September 29, 2025.
Chart via TradingView.
Despite the rally, some market participants aren’t convinced the bull market is back in full force. Crypto investor and entrepreneur Ted Pillows noted that Bitcoin’s pump is “mostly due to short positions getting closed.”
Meanwhile, bulls argue that Bitcoin usually follows gold’s price moves with a three to four month delay, suggesting a strong rally could come in October or November.
Targets mentioned range from US$150,000 to as high as US$300,000 over the next few months.
Ether (ETH) is also performing well, up 3.8 percent over 24 hours to US$4,190.47. Like Bitcoin, Ether opened at its lowest daily valuation, US$4,112.40, before peaking at US$4,202.65.
Supply reduction, increased DEX activity and seasonal bullish trends could set the stage for an Ether price pump in October, with predictions pointing toward US$4,300 or higher.
A looming US government shutdown could increase short-term volatility in the cryptocurrency market this week due to delayed economic data and regulatory uncertainties.
Decisions on 16 crypto exchange-traded funds (ETFs) — including those tied to Solana, XRP, Litecoin and Dogecoin — are expected from the US Securities and Exchange Commission throughout October.
Altcoin price update
- Solana (SOL) was priced at US$212.91, an increase of 3.3 percent over the last 24 hours and its highest valuation of the day. SOL opened at US$206.31, its lowest valuation of the day, and trended upward.
- XRP was trading for US$2.90, up by 2.5 percent over the last 24 hours. Its lowest valuation of the day was US$2.85, while its highest was US$2.91.
ETF data and derivatives trends
The Fear & Greed Index currently reads 39, indicating fear amongst market participants.
Bitcoin dominance in the crypto market is at 56.66 percent, showing a slight fall week-over-week.
Last week, the cumulative net flow for spot Bitcoin ETFs was predominantly negative, with several days of outflows. According to data from the week of September 22 to September 26, spot Bitcoin ETFs had outflows on four days, with September 24 being the only day of inflows at US$241 million. The inflows were led by BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) and the ARK 21Shares Bitcoin ETF (BATS:ARKB).
Overall, the weekly trend showed significant withdrawal pressures despite the one day inflow exception. Cumulative total inflows for spot Bitcoin ETFs stood at US$56.78 billion as of September 26.
On the derivatives side, CoinGlass data shows Bitcoin futures open interest at US$82.89 billion, an increase of 6.73 percent over 24 hours and a rise of 0.32 percent over four hours. Open interest for Ether futures is at US$56.04 billion, up 2.71 percent over 24 hours and a 0.06 percent boost over four hours.
Bitcoin leveraged positions have resulted in liquidations totaling US$5.61 million in four hours. Ether saw significantly greater liquidations, amounting to US$9.53 million. Bitcoin’s max pain price is US$114,000.
The Ether funding rate is positive, signaling bullish sentiment and more demand for long positions, while the Bitcoin funding rate is in the red, signaling bearish sentiment.
Today’s crypto news to know
SWIFT to debut blockchain to facilitate cross-border payments
According to a Monday announcement, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is developing a blockchain in collaboration with over 30 financial institutions and Consensys.
The initial focus is on developing infrastructure for “real-time 24/7 cross-border payments.” SWIFT CEO Javier Pérez-Tass made the announcement at SWIFT’s annual Sibos conference, held in Frankfurt, Germany, on Monday:
“We provide powerful and effective rails today and are moving at a rapid pace with our community to create the infrastructure stack of the future. Through this initial ledger concept we are paving the way for financial institutions to take the payments experience to the next level with Swift’s proven and trusted platform at the centre of the industry’s digital transformation.’
SWIFT will consider feedback on its design from financial institutions from 16 countries.
Polkadot users show support for potential stablecoin
Bryan Chen, co-founder of Polkadot and chief technology officer of its Acala blockchain, introduced a proposal on Sunday to develop a native stablecoin for the Polkadot network.
The stablecoin (pUSD) would be algorithmic and backed by Polkadot tokens, and would use the pUSD ticker. It would also include an optional savings module, allowing holders to lock their stablecoins and earn interest from stability fees. It will utilize the Honzon protocol on the Acala network. The aim is to reduce reliance on USDt and USDC.
The proposal is gathering support among users. The ballot will close in 24 days.
Qatar financial group adopts Kinexys
One of the largest financial institutions in the Middle East, Qatar’s QNB Group, has switched to JPMorgan Chase’s (NYSE:JPM) blockchain platform for US dollar corporate payments processing.
By adopting JPMorgan’s Kinexys Digital Payments system, QNB can now process US dollar-based payments for its business clients in Qatar in minutes and 24/7, the companies said in a statement.
Kazakhstan debuts crypto fund
Kazakhstan, in partnership with Binance, has launched a state-backed crypto reserve called the Alem Crypto Fund, according to an announcement on the country’s government website.
The fund, established by the Ministry of Artificial Intelligence and Digital Development and managed by Qazaqstan Venture Group, aims for long-term digital asset investments and strategic reserves. Its initial asset is BNB, Binance’s utility token. The announcement does not specify the amount of BNB purchased or future investments.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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International Graphite (IG6:AU) has announced Institutional Investment
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African Discovery Group (OTC:AFDG) (“AFDG” or the “Company”) has entered into a term sheet to acquire the Butembo Copper exploration license in the Democratic Republic of Congo (DRC) by acquiring 100% of the shares of SOCIETE GRABIN MINING SAS (the “Transaction”). The Butembo Copper project is a greenfield exploration project located in the North Kivu province of the Democratic Republic of Congo. 40km south of the provincial capital of Beni. The project is located 33km west of the Ugandan border with verified road and rail access to the port of Mombasa.
The area is generally underexplored relative to the well-known copper belts of the Katanga copper belt to the south – however the Mesoproterozoic Kibalian greenstone belt is known for its tungsten-tin-gold occurrences, and it hosts the well-known Kilembe Mine nearby which has produced substantial quantities of both copper and cobalt
According to Rio Tinto, African deposits make up eight out of the 10 highest grade deposits discovered since 1990. The recent discovery of the Butembo copper deposit has underscored the need for further exploration work in areas peripheral to the Katanga Copper Belt.It is important to note that the artisanal pits initially targeted and extracted alluvial gold in the surficial gravels that overly the schists hosting the copper mineralization.The implication is that Butembo is prospective for both gold and copper.
The Butembo discovery is a near surface high-grade copper oxidized ore with measured grades of up to 18% with depth and lateral extension potential of over 5km along strike. The project is located at the base of the Ruwenzori mountains and borders Virunga National Park. There is extensive artisanal activity for both copper and gold and by extension a thriving small scale minerals industry exists in Butembo going back years. Regolith clay samples to the north have tested positively for copper – this is interpreted as a positive indicator of a northern extension to Butembo.
The artisanal and first phase exploration pits around the flood plain of the Talehya River, which runs through the concession, have been tested over an initial 500m of strike length – and the results have been positive with one of these analyses reporting the 18% Cu mentioned above as well as 16.3% in another exploration pit.
The deposit is in the vicinity of the historic Kilembe copper mine (4 million tons) across the border in Uganda whose sulphide mineralization occurs within biotite schists thought to have formed by hydrothermal fluids during early tectonic cycles that were trapped in structurally favorable impermeable locations. This offers a unique insight into the potential geological controls of the Butembo deposit. Mineralization is structurally controlled, occurring along northeast-trending shear zones and folds that facilitated hydrothermal fluid flow. The primary ore minerals include chalcopyrite, pyrite, and linnaeite, forming massive sulfide lenses and disseminated zones.
The Butembo deposit holds a strategically advantageous location, benefiting from proximity to regional infrastructure, which includes electrical power being available within reach of the project boundary. The site is located close to the Ugandan border, offering access to the East African transport corridor. This includes road and rail connections through Uganda to the port of Mombasa, Kenya—providing a viable export route for future development.
The combination of surface high-grade mineralization, artisanal activity, infrastructure access, and strategic location positions the Butembo Copper Project as a high-potential target for early-stage exploration and resource delineation.
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The Red Mountain Deposit Remains Open to Expansion in Multiple Directions with Assays Pending
Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) (‘Silver47’ or the ‘Company’) is pleased to announce the completion of its summer 2025 drill program at its wholly-owned Red Mountain Project in south-central Alaska.
Highlights:
- Significant Mineralization Intersected: Completed eight holes at Dry Creek and seven holes at West Tundra Flats, intersecting massive, semi-massive, and disseminated sulfides in step-out and infill drilling, with assays pending (see Figure 2-5 of core photos below).
- Establishing a Strong Alaskan High-Grade Resource Base: The 2025 program targeted untested areas near historical high-grade intercepts to enhance Red Mountain’s inferred 168.6 million silver equivalent ounce resource (336 g/t AgEq*) at Dry Creek and West Tundra Flats.
- Red Mountain Deposit Open to Expansion: Both the Dry Creek and West Tundra Flats zones remain open to expansion in multiple directions and the Company is completing detailed geological modelling to guide vectoring towards additional mineralization in 2026.
- Multiple Untested Targets: There are at least 35 mineralized prospects across the Red Mountain Project covering a 55 km trend many of which are undrilled or represent preliminary drilled discoveries.
- High-Value Critical Minerals: An ongoing metallurgical study is evaluating Red Mountain’s potentially significant concentrations of antimony and gallium, critical for U.S. defense, where current supply chains are at risk from foreign dominance.
- Fully Capitalized: The Company is fully funded with approximately $27 million in working capital to deploy towards aggressive growth-oriented drilling on our American silver projects.
Galen McNamara, CEO, stated: ‘The 2025 Red Mountain drill program has intersected massive sulfides in multiple holes. With assays pending, we now look forward to drilling at Mogollon in Q4 of this year and Hughes in early 2026. Fully funded with $27 million, we’re positioned to accelerate resource growth on our silver and critical mineral projects to deliver value from America’s next generation of strategic mineral assets.’
Highlights from Previous Drilling (see news releases dated November 21 and 26, 2024 and February 12, 2025):
- DC24-104: 15.24 m grading 546 g/t AgEq* plus 290 g/t antimony (‘Sb’) and 32 g/t gallium (‘Ga’) from 14.3 m depth (AgEq: 106 g/t silver, 0.45 g/t gold, 6.4% zinc, 2.2% lead, and 0.19% copper)
- DC24-105: 22.32 m grading 601 g/t AgEq plus 503 g/t Sb and 54 g/t Ga from 18.9 m (AgEq: 150.6 g/t silver, 0.82 g/t gold, 5.9% zinc, 2.6% lead, and 0.13% copper)
- WT24-33: 2.90 m grading 1,079 g/t AgEq plus 920 g/t Sb and 15 g/t Ga from 121.70 m depth
(AgEq: 418 g/t silver, 0.74 g/t gold, 9.1% zinc, 4.7% lead, 0.105% copper)
- DC18-77: 4.26 m grading 2,003 g/t AgEq plus 4,432 g/t Sb and 97 g/t Ga 168.8 m depth
(AgEq: 1,435 g/t silver, 2.2 g/t gold, 4.8% zinc, 2.3% lead, 0.5% copper)
*Notes: g/t=grams per tonne; AgEq=silver equivalent; ZnEq=zinc equivalent; m=metres; Ag=silver; Au=gold; Cu=copper; Zn=zinc; Pb=lead; 1ppm=1 g/t. Equivalencies are calculated using ratios with metal prices of US$2,750/tonne Zn, US$2,100/tonne Pb, US$8,880/tonne Cu, US$1,850/oz Au, and US$23/oz Ag and metal recoveries are based on metallurgical work returned of 90% Zn, 75% Pb, 70% Cu, 70% Ag, and 80% Au. Silver Equivalent (AgEq g/t) = [Zn (%) x 47.81] + [Pb (%) x 30.43] + [Cu (%) x 119] + [Ag (g/t) x 1] + [Au (g/t) x 91.93]
Figure 1. Plan Map of Red Mountain Project showing over 35 targets highlighting the Dry Creek and West Tundra Flats target.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/268546_860a7d7c4431badc_002full.jpg
Figure 2: (see attached figure). Mineralized core from drill hole DC25-110 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, chalcopyrite, sphalerite and galena (148.5 to 170.9m downhole). Photo is not intended to be representative of broader mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/268546_860a7d7c4431badc_003full.jpg
Figure 3: (see attached figure). Mineralized core from drill hole DC25-112 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, chalcopyrite, sphalerite and galena (228.55 to 245.55m downhole). Photo is not intended to be representative of broader mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/268546_860a7d7c4431badc_004full.jpg
Figure 4: (see attached figure). Mineralized core from drill hole DC25-113 at the Dry Creek deposit showing disseminated, semi-massive and massive sulfide mineralization featuring pyrite, sphalerite and chalcopyrite (222.9 to 240.05m downhole). Photo is not intended to be representative of broader mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/268546_860a7d7c4431badc_005full.jpg
Figure 5: (see attached figure). Mineralized core from drill hole WTF-38 at the West Tundra Flats Deposit showing disseminated, semi-massive and massive sulfides consisting of pyrite, sphalerite, galena and chalcopyrite (172.65 to 180.5m downhole). Photo is not intended to be representative of broader mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10967/268546_860a7d7c4431badc_006full.jpg
Drill Program
The 2025 Red Mountain drill program consisted of fifteen drill holes – eight holes at the Dry Creek target (Figure 1) and seven holes were completed at the West Tundra Flats target (Figure 1). The Dry Creek and West Tundra Flat targets together account for an inferred resource of 15.6 Mt at 336 g/t AgEq* for 168.6 million silver equivalent ounces.
Drilling at both targets consisted of a series of infill and step-out holes designed to test areas near historical high-grade drill intercepts and modelled domains where the structural controls on high-grade mineralization were not fully resolved. Multiple holes at each target intersected mineralized zones consisting of variable proportions of massive, semi-massive, and disseminated sulfides (Figures 2, 3, 4, and 5). Assays are pending from all holes drilled.
Based on observations from drilling together with results from ongoing geological modelling, multiple mineralized lenses and domains at Dry Creek and West Tundra Flats targets remain open along strike and down-dip. The company will integrate all new assay data with the geological modelling to guide vectoring towards additional VMS-related, high-grade mineralization in 2026.
Quality Assurance and Quality Control
Quality assurance and quality control (QAQC) protocols for drill core sampling at the Red Mountain Project followed industry standard practices. Core samples were typically taken at 1.0 m intervals in mineralized zones, and 3.0 m intervals outside of mineralized zones. Sample lengths were adjusted as necessary so as not to cross lithologic and mineralogic boundaries. QAQC check samples were inserted into the sample stream with one blank, one duplicate (coarse), and one certified reference material (CRM) occurring within every 20 samples. Drill core was cut in half, bagged, sealed and delivered directly to ALS Minerals Fairbanks, Alaska for transport to the ALS Minerals Laboratories labs in North Vancouver, British Columbia. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Core samples were analyzed at ALS Laboratory facilities in North Vancouver using four-acid digestion with an ICP-MS finish. Gold analysis was by fire assay with atomic absorption finish, or gravimetric finish for over-limit samples. Over-limits for silver, zinc, copper, and lead were analyzed using Ore Grade four-acid digestion. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd. of Langley, British Columbia and selected to represent expected mineralization.
Corporate Update
Further to its news releases dated September 16, 2025, with respect to the closing of a brokered private placement of units for gross proceeds of $23,000,460 (the ‘Offering‘), the Company wishes to clarify that out of the aggregated advisory warrants of 256,204 and advisory fee of $179,342.80 plus tax, the Company issued 142,860 advisory warrants to Golden Capital Consulting Ltd. and paid a cash fee of $100,002 plus tax to Gold Funnel Consulting & Investing Inc. in connection with the Offering.
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.
About Silver47 Exploration
Silver47 Exploration Corp is a mineral exploration company, focused on uncovering and developing silver-rich deposits in North America. The Company is creating a leading high-grade US-focused silver developer with a resource totaling 236 Moz AgEq at 334 g/t AgEq inferred and 10 Moz at 333 g/t AgEq indicated. With operations in Alaska, Nevada and New Mexico, Silver47 Exploration is anchored in America’s most prolific mining jurisdictions. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Company trades on the TSXV under the ticker symbol AGA and OTCQB under the ticker symbol AAGAF.
For more information about the Company, please visit www.silver47.ca and see the Technical Report filed on SEDAR+ (www.sedarplus.ca) and titled ‘Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA with an effective date January 12, 2024, and prepared by APEX Geoscience Ltd.’
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On Behalf of the Board of Directors
Mr. Galen McNamara
CEO & Director
For investor relations
Giordy Belfiore
604-288-8004
gbelfiore@silver47.ca
No securities regulatory authority has either approved or disapproved of the contents of this release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release constitute forward-looking statements or forward-looking information under applicable securities laws (collectively, ‘forward-looking statements’). Such statements relate to future events or the Company’s future plans, performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘potential’, ‘could’, ‘may’, ‘will’ and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements in this news release include, but are not limited to: the interpretation of exploration results; the significance of drill results; the potential for additional mineralization; the timing and success of future exploration activities, including drilling and sampling; the ability to expand or upgrade mineral resources through further exploration; the potential for future economic studies on the project; and the Company’s plans and objectives in advancing its exploration properties.
These forward-looking statements are based on a number of assumptions considered reasonable by management as of the date of this news release, including assumptions regarding: the accuracy of geological interpretations; continuity of mineralization; the Company’s ability to obtain necessary permits and approvals; availability of financing and personnel to carry out planned programs; future commodity prices; and general business and economic conditions.
Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to: risks inherent in mineral exploration, including unexpected results or outcomes; delays or inability to obtain required permits and approvals; availability and cost of financing, labour and equipment; changes in commodity prices and foreign exchange rates; political, regulatory and environmental risks in the jurisdictions where the Company operates; community or social risks; and other risks described in the Company’s continuous disclosure documents filed at www.sedarplus.com.
Although the Company believes the expectations expressed in such forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct and such statements should not be unduly relied upon. Forward-looking statements speak only as of the date of this news release. The Company does not undertake any obligation to update or revise any forward-looking statements, except as required by applicable securities laws. Actual results may differ materially from those expressed or implied in forward-looking statements
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Locksley Resources (ASX:LKY,OTCQB:LKYRF,FSE:X5L) is a US-focused critical minerals company advancing high-grade rare earth elements (REEs) and antimony at its flagship Mojave project in California. Located just 1.4 kilometers from Mountain Pass — North America’s only producing REE mine — Locksley is strategically positioned to support the U.S. drive to onshore critical mineral supply chains, reduce dependence on China, and secure essential inputs for defense, clean energy, and advanced technologies.
The Mojave Project, Locksley’s flagship asset, is among the most strategically located critical minerals projects in the US Spanning 491 claims adjacent to MP Materials’ world-class Mountain Pass mine, Mojave offers Tier-1 infrastructure with highway access and proximity to Las Vegas. Drilling permits for REE and antimony targets are approved, and the 2025 exploration program is fully funded.
Company Highlights
- US-focused Critical Minerals Strategy: Targeting antimony and rare earths, both on the US critical minerals list, at the Mojave project in California, within a federally prioritized supply chain hub.
- Tier-1 Location: Just 1.4 km from the Mountain Pass mine, the only REE producer in the US, with highway access, infrastructure and proximity to major defense and technology industries.
- Drill-ready and Fully Funded: Approvals secured for both antimony and REE drilling programs, with initial campaigns set for 2025.
- Downstream Innovation: Partnership with Rice University to advance DeepSolv solvent-based processing technology for antimony and investigate applications in next-generation energy storage.
- Government and Institutional Pathways: Positioned to benefit from US policies, Department of Defense initiatives, EXIM Bank financing and Department of Energy funding.
This Locksley Resources profile is part of a paid investor education campaign.*
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Investor Insight
With a growth-oriented strategy, Golconda Gold is positioning itself as one of the highest-torque junior gold producers in the sector with assets in prolific gold districts in South Africa and the US. For investors bullish on gold, Golconda is a unique opportunity: a profitable producer with meaningful growth ahead, exposure to both gold and silver, and the discipline to deliver shareholder value in a capital-efficient way.
Overview
Golconda Gold (TSXV:GG;OTCQB:GGGOF) is an unhedged gold producer and explorer with operations in South Africa and the United States. The company is focused on optimizing its current mining and processing operations, reducing costs, and growing organically while pursuing accretive acquisition opportunities.
Its growth story is underpinned by two cornerstone assets: Galaxy Gold, the company’s cash-flowing, long-life South African operation; and Summit, a high-grade silver-gold project in New Mexico poised for a restart. Galaxy provides a steadily growing, self-funded production base, while Summit is positioned as the next major catalyst for Golconda, broadening investor exposure to silver and US operations. These assets enable Golconda to deliver meaningful production growth without dilution, providing investors direct leverage to gold prices at a time when juniors remain undervalued relative to commodity prices.
With strong insider ownership and a disciplined approach to capital, Golconda offers investors a unique combination of operating stability, near-term growth and upside exploration potential.
Company Highlights
- Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
- Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
- No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
- Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
- Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
- Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.
Key Projects
Galaxy Gold Mine
Galaxy is Golconda’s cornerstone asset and currently the company’s sole producing mine. Situated in the Barberton Greenstone Belt, one of South Africa’s most prolific gold districts with nearly 150 years of mining history, the mine benefits from established infrastructure, sealed-road access and proximity to skilled mining services. The property hosts a large resource base of 941,000 oz of gold in the measured and indicated categories grading 2.79 grams per ton (g/t), plus 1.37 million oz (Moz) inferred at 2.62 g/t.
Snapshot of Galaxy Gold Mine Operations
The operation is an underground, trackless mechanized mine, currently producing at a run rate of ~12,000 oz/year, with a multi-stage ramp-up plan to 25,000 oz/year by 2027 and up to 45,000 oz/year by 2028. Ore is processed through a 50,000 tonnes per month (tpm) crush-mill-float plant, which was refurbished with a new mill, concentrate tanks, and a filter press. The plant is already capable of handling the full ramp-up capacity, allowing it to expand with minimal capital outlay.
Galaxy produces a refractory gold concentrate sold directly to Ocean Partners, eliminating the need for BIOX or other complex high-capex processing routes. This low-risk sales model enables Galaxy to operate profitably and reinvest cash flow into mine development. The mine plan leverages both the Princeton and Galaxy ore bodies, with development into additional levels and ore bodies among the 21 known mineralized zones on the property. Over its history, Galaxy (formerly, the Agnes mine) has produced more than 1.3 Moz of gold, with current exploration drilling continuing to identify significant upside at depth and along strike.
Economically, Galaxy is highly accretive: at $3,000/oz gold, the operation generates an after-tax NPV5 percent of US$201 million, with life-of-mine free cash flow exceeding US$270 million on conservative assumptions. The operation has a projected all-in sustaining cost (AISC) of ~US$1,000/oz once ramp-up is complete, positioning it competitively within the global cost curve.
Summit Gold-Silver Mine and Banner Mill
The Summit mine, located in the Steeple Rock Mining District of southwestern New Mexico, is a high-grade past-producing underground operation. The New Mexico portfolio also includes the Banner mill, a 240 tpd flotation facility located 57 miles from Summit via paved highways and sealed roads. Golconda acquired the project from Waterton in 2021, along with a streamlined land package totaling ~4,000 acres of patented and unpatented claims.
Summit Mine and Banner Mills snapshot
Summit hosts a defined resource of 1.4 Moz silver and 26,000 oz gold in measured and indicated categories, plus 5.1 Moz silver and 74,000 oz gold inferred. The mine is fully permitted and is expected to restart in Q2 2026, with first concentrate production within 9 to 12 months. The restart strategy is fully funded internally from Galaxy cash flows, ensuring no dilution to shareholders.
The planned annual production profile targets ~10,000 oz gold and 444,000 oz silver at steady state, with an average AISC of US$1,600/oz gold equivalent. At $3,000/oz gold and $35/oz silver, Summit delivers an after-tax NPV5 percent of US$105 million, with cumulative free cash flow of ~US$135 million over its mine life. The project is structured to be spun out into a standalone US-only gold-silver producer by Q4 2026, broadening investor appeal and potentially unlocking a higher valuation multiple.
The Banner Mill 240-tpd flotation facility 57 miles from the Summit mine
Exploration upside at Summit is significant. The Billali Zone, northwest of the main deposit, has returned historical intercepts including 681 g/t silver and 9.38 g/t gold over 4.4 m and hosts a 1992 historical resource of 288,000 tonnes grading 121 g/t silver and 3.67 g/t gold. The nearby Mohawk Area features a 2,000 ft IP anomaly with drill intercepts including 1.5 m at 437.5 g/t silver and 9.34 g/t gold at depth. Both zones remain open and underexplored, providing clear potential to extend mine life and scale production.
Summit’s restart and planned spin-out will give Golconda a second producing asset in a Tier 1 jurisdiction, diversify its commodity mix with silver exposure, and broaden its investor base, while maintaining the company’s no-dilution philosophy.
Management Team
Ravi Sood – Chairman and CEO
Ravi Sood has more than 25 years of experience in capital markets and operations. He is the founder and former CEO of Navina Asset Management, and director of Elemental Altus Royalties and Sparq Systems. He founded and/or co-founded multiple companies in mining, energy and renewables.
Andrew Bishop – Chief Financial Officer
A chartered accountant with more than 22 years of financial and mining experience in Africa and North America, Andrew Bishop brings strong financial discipline and operational insight to Golconda. He was previously with Aureus Mining, Avesoro Resources and Golden Star.
Wayne Hatton Jones – Chief Operating Officer
Wayne Hatton Jones is a mining professional with 38 years of experience in Africa, Asia and Europe. He previously worked at Goldridge, Avocet, Randgold and Harmony. His expertise includes mine development, metallurgy and operations.
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Copper Quest Exploration (CSE:CQX, OTCQB:IMIMF, FRA:3MX) is focused on creating shareholder value through the exploration and development of its North American critical mineral portfolio, with more than 40,000 hectares across tier-one jurisdictions in Canada and the US.
In British Columbia, the company’s assets include the Stars copper-molybdenum discovery in the Bulkley Porphyry Belt, the Stellar property with historic showings and new anomalies, an earn-in on the Rip project, a large porphyry copper-molybdenum system, and the Thane Project in the Toodoggone Belt, prospective for copper-gold-molybdenum.
The Stars project is a 9,694-hectare, road-accessible copper-molybdenum property in the prolific Bulkley Porphyry Belt, home to past producers such as Imperial Metals’ Huckleberry mine and Newmont’s Equity Silver Mine. Stars is defined by a 5 × 2.5 km annular magnetic anomaly coincident with a mineralized monzonite intrusion. Drilling in 2018 confirmed a significant porphyry system at the Tana Zone, highlighted by intercepts of 0.466 percent copper over 195.1 meters from 23 meters, including 40 meters averaging nearly 1 percent copper, and 0.20 percent copper over 396.7 meters from 28 meters. All holes to date have returned copper levels well above background, with alteration, intrusive textures, and veining typical of productive porphyry systems.
Company Highlights
- Large, Tier-one Land Position: More than 40,000 hectares across British Columbia’s Bulkley and Toodoggone Porphyry Belts, plus a newly acquired copper-gold porphyry project in Idaho, USA.
- Flagship Discovery at Stars: Drill intercepts of 0.466 percent copper over 195.1 m confirm a fertile porphyry copper-molybdenum system with over 30 km of untested intrusive contacts.
- Multiple Copper Systems: Canadian portfolio includes Stars, Stellar, Rip (earn-in up to 80 percent) and Thane, each offering district-scale potential in proven belts.
- Idaho Acquisition: The Nekash copper-gold porphyry project in Lemhi County, Idaho, is a milestone acquisition aligned with its strategy to build a portfolio of highly prospective copper assets across North America.
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Golconda Gold (TSXV:GG) is a growth-focused junior producer with operations in prolific gold districts in South Africa and the US. Positioned as one of the sector’s highest-torque opportunities, Golconda offers investors profitable production, exposure to both gold and silver, and a disciplined, capital-efficient path to meaningful growth.
Golconda Gold is anchored by two cornerstone assets: Galaxy, its cash-flowing South African gold mine, and Summit, a high-grade silver-gold project in New Mexico set for restart. Together, they provide self-funded growth, U.S. exposure, and strong leverage to rising gold prices.
Galaxy, Golconda’s cornerstone asset, is a producing mine in South Africa’s prolific Barberton Greenstone Belt. The operation hosts 941,000 oz gold (M&I, 2.79 g/t) and 1.37 Moz inferred (2.62 g/t), supported by strong infrastructure and access to skilled mining services.
Company Highlights
- Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
- Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
- No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
- Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
- Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
- Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.
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