Barkly Rare Earths extends mineralisation by 8km in Northern Territory

Barkly Rare Earths has reported significant exploration success at its flagship Barkly project in Australia's Northern Territory. A 10,000-metre phase-one drilling campaign has extended the boundaries of known mineralisation by eight kilometres into previously untested ground.

Out of 60 holes assayed so far, 56 have recorded significant rare earths intercepts, representing a strike rate of over 93 per cent across a 23km area. The drilling program aims to expand the project’s existing 40-million-tonne inferred mineral resource, which currently grades 2100 parts per million (ppm) total rare earth oxides (TREO).

Managing director Craig Wright noted the high intercept rate across the reported holes. The company has set an exploration target of between 200 million and one billion tonnes at a grade of 1600ppm to 1900ppm TREO, seeking to capitalize on global demand for non-Chinese critical mineral supply chains.