Renascor Greenlights Bulloo Drilling, Unveils Rare Earth Riches at Tumby Bay
Renascor Resources has secured drilling approvals for its Bulloo Creek copper-cobalt-gold prospects and confirmed high-grade rare earth elements at Tumby Bay, while progressing uranium-copper targets at Marree.
- Bulloo Creek drilling approvals received for up to 3,000m reverse circulation program
- Tumby Bay re-assay confirms elevated magnetic rare earth elements with strong dysprosium-terbium content
- Marree uranium and copper prospects advancing with land access and community engagement underway
- Battery Anode Material project development continues with PSG demonstration facility construction on schedule
- Company maintains strong cash position and government-backed loan facility
Exploration Momentum at Bulloo Creek
Renascor Resources (ASX – RNU) has received all necessary clearances and approvals to commence a reverse circulation drilling program at its Bulloo Creek prospect in South Australia's Curnamona Province. The program, targeting near-surface copper, cobalt, and gold mineralisation, is planned for up to 3,000 metres and scheduled to start imminently, with completion expected within two weeks. The Bulloo Creek area hosts multiple shallow magnetic bodies over a 4-kilometre strike, with previous geochemical sampling indicating cobalt anomalies up to 55 ppm, suggesting promising mineralisation potential.
Rare Earth Element Upside at Tumby Bay
At Tumby Bay on the Eyre Peninsula, Renascor has re-assayed historical drill core, revealing significant concentrations of rare earth elements (REEs), particularly magnetic REEs critical for permanent magnets used in advanced technologies. Notably, drillhole DD07TB003 returned an average of approximately 2,218 ppm total rare earth oxides (TREO) with about 33% comprising magnetic rare earth oxides (MREO), including substantial dysprosium and terbium content. Complementary hyperspectral satellite imagery analysis has identified additional alteration zones and mineralogical signatures indicative of further REE mineralisation targets, prompting plans for infill soil geochemical sampling and metallurgical testing.
Progress at Marree Uranium and Copper Prospects
Renascor's Marree project, situated within the Adelaide Rift Complex, is advancing with land access negotiations and community engagement, particularly with Native Title claimants. The project includes the Mulgaria prospect, a notable 2 km by 1 km radiometric anomaly with uranium values up to 10 ppm; among the highest in the region outside of Olympic Dam. The company is preparing for on-ground exploration activities targeting near-surface uranium mineralisation and basement-hosted copper-uranium deposits.
Ongoing Development of Battery Anode Material Project
Alongside exploration, Renascor continues to develop its flagship Battery Anode Material (BAM) project, which includes the Siviour Graphite Deposit; the world's second-largest proven graphite reserve. Construction of the Purified Spherical Graphite (PSG) demonstration facility in Adelaide is progressing on schedule, supported by Australian Government co-funding. The BAM project aims to supply high-quality graphite materials for lithium-ion battery anodes, positioning Renascor strategically within the critical minerals supply chain.
Financial and Strategic Positioning
Renascor maintains a robust financial position with approximately $102 million in cash and a conditionally approved $185 million loan facility from the Australian Government’s Critical Minerals Facility. This financial strength underpins both the ongoing exploration activities and the advancement of the BAM project, enabling the company to pursue multiple value-adding opportunities concurrently.
Bottom Line?
As Renascor embarks on drilling at Bulloo Creek and advances rare earth and uranium targets, the coming months will be pivotal in defining its multi-commodity growth trajectory.
Questions in the middle?
- What initial assay results will the upcoming Bulloo Creek drilling yield regarding copper-cobalt-gold mineralisation?
- How will further geochemical and metallurgical testing at Tumby Bay refine the economic potential of its rare earth element deposits?
- What timelines and outcomes can be expected from community engagement and heritage clearances at Marree before exploration drilling commences?
