Locksley Resources announced it is acquiring a 100% interest in the Iron Duke Copper Gold Project in New South Wales, strengthening the company’s position in the Cobar District and expanding its copper and gold exploration portfolio near its existing Tottenham Project.
The acquisition is being completed through a binding option agreement with Balmain Minerals Pty Ltd., a wholly owned subsidiary of Sky Metals Limited. The transaction includes exploration licenses covering 65 units.
According to the company, the Iron Duke Project is located within 15 kilometers of the Tottenham Project, creating opportunities for operational and geological synergies. These include coordinated exploration targeting strategies and potential future development pathways across the district-scale portfolio.
Ian Stockton, technical director at Locksley Resources, said the acquisition strengthens the company’s regional footprint within the Cobar District and supports a broader district-scale exploration strategy.
The company said the project contains a high-grade copper and gold system that remains open along strike and at depth. Multiple untested targets have also been identified, offering potential opportunities for future resource expansion.
While the Iron Duke acquisition enhances the company’s Australian copper and gold portfolio, Locksley emphasized that its primary strategic focus remains the Mojave Project in California. The company is advancing the project with a focus on rare earth elements and antimony development as part of a broader effort to support domestic critical mineral supply chains in the United States.
Locksley said it is pursuing a mine-to-market strategy for antimony, supported by downstream technology partnerships with U.S. research institutions and industry partners. The company noted that this approach combines resource development with processing and separation technologies aimed at strengthening U.S. critical minerals independence.
Additional information regarding the acquisition was released through the company’s investor materials.
KEY QUOTES:
“The Iron Duke Project is located close to the Company’s Tottenham Project within the Cobar District, strengthening Locksley’s position in the region and supporting a coordinated district scale opportunity.”
“The project hosts a high-grade copper and gold system that remains open along strike and at depth, with multiple untested targets, providing clear pathways for resource growth.”
Ian Stockton, Technical Director, Locksley Resources
