Basin Energy Limited (ASX: BSN) is pleased to announce the commencement of drilling at its recently acquired Sybella-Barkly Uranium and Rare Earth Project in northwest Queensland, marking the start of a significant exploration campaign across two highly prospective mineral systems.
Program Overview
The program will comprise approximately 3,000 metres of drilling across 80 holes, targeting both district-scale sediment-hosted ionic clay rare earths and paleochannel roll-front uranium systems.
Initial drilling will focus on shallow sediment-hosted clay rare earths, with soil sampling confirming widespread anomalism exceeding 600 ppm TREO, correlating with a laterally extensive airborne electromagnetic (AEM) anomaly interpreted to represent a granite-derived clay unit. This phase of drilling is supported by a $150,000 grant from the Queensland Government’s Collaborative Exploration Initiative (CEI).
Pending weather conditions, the rig will then move to test uranium targets identified through AEM data that highlight an interpreted network of paleochannels directly along trend from the uranium-rich Sybella Granite, which is known to be the source of major uranium deposits in the Mount Isa province.
Drilling is expected to take approximately four weeks, with assay results anticipated in Q1 2026.
Pete Moorhouse, Managing Director Commented:
“Today marks major progress and Basin looks to test three district scale concepts exploring for uranium and rare earth elements in the world class jurisdiction of the Mount Isa province in Queensland.
Initial drilling will advance the concept for ionic clay style REEs, mobilised from the emerging Sybella Discovery owned by our neighbours at Red Metal.
I again acknowledge the tremendous effort and cooperation from staff, contractors and stakeholders to allow this program to happen in a professional manner under tight time constraints.”
Strategic Context
The Sybella-Barkly Project represents a district-scale exploration opportunity within one of Queensland’s most prospective uranium and rare earth provinces. Basin’s landholding covers extensive portions of the Sybella Batholith and adjacent Barkly Tablelands, where both granite-hosted and sediment-hosted mineralisation models are being systematically tested.
This first-pass drilling campaign builds on Basin’s broader portfolio strategy, which spans uranium and green energy metals projects across Australia, Scandinavia and Canada’s world-class Athabasca Basin.
About us:
About Basin Energy
Basin Energy (ASX: BSN) is a green energy metals exploration and development company with an interest in three highly prospective uranium projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada, and 100% ownership in significant portfolios of uranium-green energy metals exploration assets located in Scandinavia and uranium-REE assets west of Mount Isa in Queensland, Australia.
Contact details:
Media & Investor Enquiries:
Pete Moorhouse – Managing Director
[email protected] | +61 7 3667 7449
Chloe Hayes – Investor & Media Relations
[email protected] | +61 458 619 317