Barkly Rare Earths (ASX:BAK) reports rare earth intercepts from every hole assayed in its phase-one drilling program at the Barkly Project in the Northern Territory.
Initial assay results have been received from 28 drill holes up to 23km apart, with all holes returning intercepts from as shallow as 9m downhole.
Intercepts include 2m at 2,716 parts per million (ppm) total rare earth oxide (TREO) from 11m in hole BAK0133, including 0.5m at 6,064ppm TREO from 11.5m. Hole BAK0080 returned 1.5m at 3,228ppm TREO from 15m, including 0.5m at 5,170ppm TREO from 15.5m.
The results support the company’s interpretation of laterally extensive, shallow mineralisation across the exploration target area.
“Twenty-eight holes assayed and twenty-eight intercepts — that is a very satisfying result, and the holes 23km apart look like the same flat-lying horizon we mapped,” Managing Director Craig Wright says.
“Our ambition is to define a large-scale, ‘high-grade’ resource, and results like these are why we are drilling another 300-plus holes.”
Magnet rare earth oxides (MREO) represent 31–40% of TREO in 27 of 28 intercepts, consistent with the 34% MREO ratio of the existing inferred mineral resource of 40 million tonnes (Mt) grading 2,100ppm TREO.
Uranium and thorium concentrations remain consistently low, which the company says is favourable for processing flowsheets.
The 28 intercepts average 1.7m in width, though the company notes these represent pre-selected intervals using portable X-ray fluorescence screening rather than full hole widths. Further assays immediately above and below each intercept are being requested to define the full mineralised horizon.
Three intercepts returned elevated yttrium up to 638ppm, with corresponding heavy rare earths including terbium up to 17ppm and dysprosium up to 82ppm — elements subject to China’s export control measures introduced in April 2025.
The 10,000m phase-one program targets extensions near the current inferred mineral resource, where mineralisation remains open in all directions.
Barkly has drilled a total of 68 holes to date, with samples from 30 additional drill holes undergoing laboratory processing.
The company’s exploration target encompasses 200–1,000Mt grading 1,600–1,900ppm TREO, targeting an updated mineral resource estimate for the December quarter.
Recent metallurgical testwork achieved 99% of MREO reporting to acid leach solution, with 94% of yttrium reporting to those streams.
Barkly Rare Earths is an Australian explorer whose portfolio also includes the Buntine Project in the Northern Territory and a vanadium focus alongside rare earths.
Write to JC Villarba at Mining.com.au
Images: Barkly Rare Earths
