Basin Energy (ASX:BSN) has planned an initial 3,000m drilling campaign at its newly acquired Sybella-Barkly Uranium and Rare Earth Project in the Mt Isa district of Queensland.
Drilling will target the area’s ionic clay rare earth potential, following the return of soil sampling confirming widespread anomalism.
Soil sampling assays include over 600 parts per million of total rare earth oxide (TREO), which Basin says correlates with laterally extensive flat lying airborne electromagnetic (AEM) anomaly that is interpreted to be a granite derived clay unit.
Drilling will be funded by the state government for $150,000, covering 45 holes for TREO discoveries. The remaining 35 holes will target uranium systems also defined by an AEM survey, if permitted by weather.
The company acquired the landholding, spanning 5,958km2, with the takeover of privately held NeoDys last month, as reported by Mining.com.au.
Managing Director Pete Moorhouse says the program will test “three district scale concepts”, investigating known uranium and rare earth elements.
“Initial drilling will advance the concept for ionic clay style REEs, mobilised from the emerging Sybella discovery owned by our neighbours at Red Metal,” Moorhouse says.
“I again acknowledge the tremendous effort and cooperation from staff, contractors and stakeholders to allow this program to happen in a professional manner under tight time constraints.”
Rare earth elements – notably neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) – have attracted increasing attention due to their essential role in rare earth permanent magnets. In July 2025, global focus intensified following the US Department of Defense’s (DoD) strategic agreement and commitment to provide US$400 million in equity with rare earth producer MP Materials.
Basin Energy is a mineral explorer focused on discovering uranium and green energy metal deposits to aid the clean energy transition.
The company will be attending this year’s Noosa Mining Investor Conference, held between 12-14 November 2025, at the Peppers Noosa Resort. Mining.com.au is a media partner for this year’s event.
Write to Maddison Elliott at Mining.com.au
Images: Basin Energy
