Basin Energy (ASX:BSN) has commenced maiden reverse circulation drilling at the Rochedale heavy rare earth (HREE) prospect, 15km southwest of its Newmans rare earth discovery in Mount Isa, northwest Queensland.
The program targets HREE enrichment associated with phosphorites in the southern Georgina Basin, with up to seven drill holes testing phosphatic horizons at depths up to 150m.
The Queensland Government is co-funding the drilling with up to $76,413 under the Collaborative Exploration Initiative.
Research indicates phosphorite units in the southern Georgina Basin contain total rare earth element (REE) concentrations up to about 0.5%. The total includes magnet rare earth elements neodymium, praseodymium, dysprosium, terbium, and yttrium.
Historical drilling recorded phosphorite-rich units between 80m and 150m deep, though this data is reportedly unverified.
Managing Director Pete Moorhouse says Rochedale gives Basin “another very different rare earth opportunity” within the Sybella-Barkly Project, where the prospect is hosted.
“While Newmans is focused on shallow mineralisation developed within weathered granite, this program is testing the potential for heavy and magnet rare earth enrichment within phosphatic sediments,” Moorhouse says.
Located within Basin’s 100%-owned Sybella-Barkly Project, the Newmans discovery extends over at least 6.7km.
Hole SBRC26014 returned 25m @ 458 parts per million (ppm) magnet rare earth oxides within 2,164ppm total rare earth oxides (TREO) from 4m, including 12m @ 634ppm MREO within 2,940ppm TREO from 8m, and 3m @ 1,147ppm MREO within 5,253ppm TREO from 16m.
Assay results from Rochedale are expected in December 2026.
In the meantime, Basin is continuing to progress preliminary mineralogical test work at Newmans and detailed interpretation of the expanded mineralised zone.
Basin Energy is a critical minerals explorer focused on rare earth and uranium discovery in northwest Queensland.
Write to Paula Fabe at Mining.com.au
Main image: Basin Energy
