Shares in Locksley Resources (ASX:LKY) have seen a rise of up to 12.5% to A$0.054, which is anticipated to be its best day since June 15, provided the gains remain consistent.

The significant increase arrives after the mineral explorer reported achieving high-grade assays for rare-earths at its Mojave project area in the U.S.

following a surface sampling programme.

The program involved a total of 171 rock-chip samples being assayed for a full suite of elements by American Analytical Services.

Following this news, the company’s stock reached its highest level since August 29.

However, the stock’s overall trend remains down by 18.3% year-to-date until the latest closing.

Locksley Resources is a company specifically geared towards mineral exploration.