Basin Energy (ASX:BSN) has identified a rare earths element (REE) system at the Sybella Barkly Project in Queensland from phase one drilling across the northern half of the asset.
The company conducted aircore drilling at electromagnetic conductors that were considered prospective for REE mineralisation and palaeochannel uranium mineralisation, confirming REE anomalism to be sediment-hosted.
Drilling returned intercepts including 2m @ 1,112 parts per million (ppm) total rare earth oxide (TREO) from 54m, including 302ppm neodymium praseodymium oxide, 3m @ 920ppm TREO from 32m, 3m @ 700ppm TREO from 35m, and 9m @ 584ppm TREO from 19m.
Basin intends to conduct phase two drilling at the project, targeting the hard rock potential of various granites, which are known to contain zones of REEs.
Under the Queensland Government’s Collaborative Exploration Initiative, Basin will be able to claim $150,000 to cover a portion of the drilling campaign.
Managing Director Pete Moorhouse says the board is fast tracking follow-up drilling after uncovering “exciting results” from the initial campaign, with drilling to begin once weather and conditions allow.
“Phase one drilling commenced on the most greenfield target set of Basin’s recently acquired Sybella Barkly portfolio, targeting the sediment hosted potential for uranium and REEs,” Moorhouse says.
“Drilling primarily targeted conductive clay horizons, however, our best REE anomalism was intersected underneath this horizon. This data proves the concept that the REE-rich Sybella granites are shedding and mobilising REE throughout the expansive sediments of the Barkly tablelands and supports further drilling.
“Considering the presence of multiple metres of strongly anomalous uranium within these sediments, this demonstrates a potential active system, with the next steps being to follow the channels to find the favourable reduced environments suitable to act as a trap.
“The potential for a South Australian Frome Basin style system here in Queensland is tangible.”
As reported by Mining.com.au, Basin secured a further 183km2 of tenure at the project at the start of December 2025.
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
