Barkly Rare Earths advances 10,000m drilling program in Northern Territory

Barkly Rare Earths has completed the first 1,000 metres of its 10,000-metre phase-one resource expansion drilling program at its flagship project in the Northern Territory. The company has drilled 45 holes to date, targeting shallow extensions around its existing 40 million tonne (Mt) inferred mineral resource, which has a grade of 2,100 parts per million (ppm) total rare earth oxide (TREO).

Managing Director Craig Wright reported that while early ground and groundwater conditions initially challenged the drill crew, drilling rates are now improving as the rig moves into more favourable ground. The company expects to receive the first laboratory assay results in the coming weeks.

The current inferred resource contains 82,000 tonnes of TREO above a 430ppm neodymium-praseodymium cut-off grade. The wider exploration target is estimated between 200Mt and 1,000Mt. Barkly Rare Earths is aiming for a mineral resource update during the December quarter.