Basin Energy Ltd. has more than doubled the mineralised footprint of its Newmans rare earth discovery, expanding the strike corridor from 3.3 kilometres to 6.7 kilometres following follow-up reverse circulation drilling.
Located at the Sybella-Barkly rare earth project in north-west Queensland, the 18-hole program confirmed shallow magnet rare earth oxide (MREO) mineralisation above 1,000 parts per million (ppm) total rare earth oxide (TREO) in 13 holes.
The latest drilling delivered the highest-grade MREO interval recorded at the project to date. Drill hole SBRC26014 returned 25 metres at 458 ppm MREO within 2,164 ppm TREO from a depth of four metres, including a high-grade core of three metres at 1,147 ppm MREO within 5,253 ppm TREO.
Meanwhile, hole SBRC26016 yielded the thickest intercept at the discovery, returning 27 metres at 364 ppm MREO within 1,698 ppm TREO from six metres.
Basin Managing Director Pete Moorhouse said the system is demonstrating strong consistency as it grows, with the magnet rare earth basket holding steady at approximately 21 per cent of total rare earth oxides across the expanded footprint.
Heavy rare earth oxide (HREO) mineralisation also proved to be a repeating structural feature. Across approximately 4.5 kilometres of the mineralised trend, seven holes returned composites exceeding 500 ppm HREO, highlighted by SBRC26024 which intersected four metres at 940 ppm HREO from 11 metres.
“The question is no longer whether there is a discovery at Newmans, it is how big it can get and we are already seeing district scale potential,” Moorhouse said.
Basin remains fully funded for its fourth-quarter 2026 work program, which will focus on initial mineralogical and leach recovery test work alongside further extension drilling.
The company also plans to rank additional regional targets across its 685-square-kilometre tenure over the Sybella Batholith.
