Barkly Rare Earths (ASX:BAK) reports rare earth intercepts from 43 of 44 holes drilled to date at its Northern Territory project.
The company has received assays from a further 16 holes, with 15 returning significant rare earth intercepts.
Notable results include BAK0121 with 2,869 parts per million (ppm) total rare earth oxide (TREO) over 1.5m from 16.5m, including 4,211ppm TREO over 0.5m from 16.5m.
BAK0123 returned 1,578ppm TREO over 3m from 10.5m, including 5,156ppm TREO over 0.5m from 11m. BAK0079 returned 2,715ppm TREO over 1.5m from 20m, including 4,097ppm TREO over 0.5m from 20.5m.
Follow-up assays have widened known mineralisation in 11 of the 28 intercepts reported on 16 September 2026. BAK0053 now shows 4.5m at 1,566ppm TREO from 11m, against the previously reported 3m at 1,851ppm TREO.
Managing Director Craig Wright says all but one of the 44 holes reported have intersected the rare earth rich mineralised horizon.
“Through early follow-up assays we have seen increased widths to the intercepts we reported last month,” Wright notes.
Intercepts occur in holes up to 23km apart across the exploration target area. ‘High-grade’ intervals of at least 2,500ppm TREO occur in 30 of the 44 holes reported.
Magnet rare earth oxides (MREO) represent 29–39% of TREO in 42 of 45 intercepts, consistent with the 34% MREO ratio of the existing 40-million-tonne inferred mineral resource at 2,100ppm TREO.
Uranium and thorium remain consistently low at 1–7ppm and 5–15ppm respectively.
Mineralisation was intersected from surface in BAK0212, where the flat-lying horizon was projected to outcrop, confirming the interpreted flat-lying geometry.
The 10,000m phase one program targets expansion of the current inferred mineral resource.
A total of 71 holes have been drilled for 1,667m, with results for another 16 holes expected in coming weeks. Samples from the remaining 11 holes are on site for laboratory submission.
Drilling recommenced on 5 October 2026 following downtime for replacement parts. Barkly is tendering for a second drill rig to maintain target completion this season, with over 300 additional holes planned.
An updated mineral resource estimate is targeted for the December quarter 2026, subject to drilling and laboratory progress. Recent metallurgical testwork achieved 99% MREO extraction in acid leach solution.
Barkly Rare Earths is an Australian explorer advancing rare earth and base metals projects across the Northern Territory.
Write to JC Villarba at Mining.com.au
Images: Barkly Rare Earths
