Basin Energy (ASX:BSN) is preparing for phase two of drilling at the Sybella-Barkly Project in Queensland, after covering 2,735m of ground in phase one.
Phase two is intended to start at the beginning of dry season, targeting rare earth elements (REE) at Sybella’s hard rock areas.
The company has completed its first stage of drilling across 63 holes, with 779 composite samples currently awaiting geochemical analysis.
Basin is able to claim $150,000 from the Queensland Government for drilling, as a part of the Collaborative Exploration Initiative.
Phase one was completed across the northern area of the project in order to address electromagnetic conductors which are considered prospective for sediment hosted REEs and palaeochannel uranium mineralisation.
Managing Director Pete Moorhouse says Basin’s desire for exploration and responsiveness can be demonstrated by the turnaround from acquiring the project and completing phase one of drilling in three months.
“This is a testament to the small team and work ethos employed within Basin and those assisting with the planning and execution of the program, completing it incident free and in such short time at this challenging time of year,” Moorhouse says.
“The program identified clays prospective for sediment hosted REEs, and the anticipation of geochemical assay results from the program is an exciting prospect for the new year with results expected mid to late January.”
Meanwhile, the company has secured an exploration permit at the project, adding an additional 90km2 of land to the Sybella-Barkly area. The grant is expected to be returned in nine months, expanding the project’s landholding to 6,230km2.
As reported by Mining.com.au, Basin secured a further 183km2 of tenure at the project at the start of the month.
The Sybella-Barkly Project hosts paleochannel and shear-hosted uranium targets, clay-hosted and hard-rock rare earths.
Basin Energy is a mineral explorer and developer focused on green energy metal deposits required to fuel the clean energy transition.
Write to Maddison Elliott at Mining.com.au
Images: Basin Energy
