63 Holes Drilled and 779 Samples Collected at Sybella-Barkly Project
Basin Energy has completed its initial drilling phase at the Sybella-Barkly rare earth and uranium project, significantly expanding its landholding and setting the stage for further exploration in 2026.
- Phase one drilling completed with 63 holes totaling 2,735 metres
- 779 composite samples submitted for geochemical analysis with results expected Q1 2026
- Project area expanded by 90 km² to a total of 6,230 km² in Mount Isa district
- Phase two drilling preparations underway targeting hard rock rare earth elements
- New tenure targets granite-hosted rare earths and shear-hosted uranium analogues
Phase One Drilling Wraps Up
Basin Energy Limited (ASX – BSN) has successfully completed the first phase of drilling at its Sybella-Barkly project in northwest Queensland, marking a significant milestone in its rare earth elements (REE) and uranium exploration campaign. Over 63 holes were drilled, covering 2,735 metres, with 779 composite samples collected and sent for geochemical analysis. The results, anticipated in the first quarter of 2026, will be pivotal in confirming the project's potential.
Strategic Expansion of Tenure
In a competitive application process, Basin secured an additional 90 square kilometres of highly prospective ground, increasing its total Sybella-Barkly landholding to 6,230 square kilometres. This expansion strengthens the company's footprint in the Mount Isa district, a region known for significant REE and uranium mineralisation. The newly acquired tenure is considered prospective for granite-hosted rare earth deposits similar to Red Metal's Sybella discovery, as well as shear-hosted uranium mineralisation akin to Paladin Energy’s Valhalla deposit.
Targeting Sediment-Hosted and Hard Rock Deposits
The initial drilling phase focused on sediment-hosted REE and palaeochannel uranium mineralisation, guided by electromagnetic conductor targets. Broad clay intercepts encountered during drilling support the geological model for sediment-hosted REEs. With phase one complete, Basin is now preparing for phase two drilling, which will target hard rock rare earth potential adjacent to the neighbouring Sybella discovery. This next phase aims to deepen understanding of the project's mineralisation and assess its economic viability.
Community Engagement and Environmental Considerations
Throughout the drilling campaign, Basin Energy emphasized minimal environmental disturbance by utilizing existing station tracks and fully rehabilitating drill sites. The company also acknowledged the support and advice from local stations and native title groups, highlighting a collaborative approach to exploration in this sensitive region.
Looking Ahead
With assay results pending and phase two drilling preparations underway, Basin Energy is positioning itself to unlock significant value from the Sybella-Barkly project. The combination of sediment-hosted and hard rock targets, alongside expanded tenure, offers a compelling exploration narrative as the company advances its green energy metals portfolio.
Bottom Line?
As Basin Energy awaits critical assay results and advances phase two drilling, the Sybella-Barkly project stands at a promising crossroads for rare earth and uranium exploration.
Questions in the middle?
- What will the geochemical assay results reveal about the grade and extent of rare earth and uranium mineralisation?
- How will the expanded tenure influence Basin Energy’s exploration strategy and timeline?
- What are the potential challenges in progressing from exploration to resource development in this district-scale project?
