– 183 km² of new land ownership secured, expanding Basin’s district-level Sybella-Barkly REE uranium footprint to 6,140 km².
– Additional land holdings are considered potential for clay-hosted REE and paleochannel uranium, supported by historical AEM and geochemical anomalies.
– Conduct and Compensation Agreement has now been completed for Ardmore Station, enabling exploration access for the next 12 months.
– First sediment-hosted REE drilling is underway, with ~3,000 m planned in Q4 2025.
– Multiple district-scale targets ready for systematic drilling.
The company has successfully secured an application for Mineral Exploration Permit (“EPM”) 29333, which will add 183 km2 of highly promising land to the project (see Figure 1*). This increases Sybella-Barkly’s land holdings to 6,140 km2, strengthening Basin’s position across key sediment-hosted REE and uranium target corridors. It is expected to take approximately months before the application is granted.
Basin has also completed a conduct and compensation agreement covering the next twelve months of work at Ardmore Station, a critical milestone that will enable the company to continue its exploration program.
Managing Director, Pete Moorhouse, commented:
“With drilling well underway on the first of our three district-scale targets for REE and uranium at this exceptionally prospective project, we are pleased to expand our land position through the application for an additional exploration permit. Our company’s drilling program is progressing well to date and I have been on site over the past week to personally monitor progress. The team is doing a great job and I am very excited about the results of testing in the coming months.”
Sediment-hosted potential
The additional application is considered prospective for sediment-hosted targets for uranium and REE in the Barkly Tablelands. The Barkly Tablelands, see Figure 4*, were surveyed with airborne electromagnetic radiation (“AEM”) by Summit Resources in February 2007, prior to its acquisition by Paladin Energy Limited (ASX:PDN). Although numerous targets were identified, no drilling took place at that time. Current data on drainage patterns indicate that the sediments forming the Barkly Tablelands are derived from the Sybella Batholith. Basin is currently conducting initial drilling in this area to target uranium and REE potential, with approximately 3,000 meters expected to be drilled in the fourth quarter of 2025.
Sediment and ionic clay harbor REE potential – District scale target
Results from surface geochemistry samples indicate significant mobilization of rare earth elements into the Barkly Tablelands from the Sybella Batholith, home to Red Metal’s Sybella Discovery. Surface sediment samples represent a regionally significant anomaly, see Figure 4*. The highest of these values are in watersheds draining from the Sybella discovery.
The Summit Resources AEM survey not only outlines an interpreted extensive paleochannel network, but also highlights a conductive layer within the Barkly Tablelands sediment package immediately beneath this geochemical anomaly, approximately 12 meters thick at a depth of 20 to 32 meters with a footprint of more than 1,000 km2. This conductive layer could represent a clay unit produced by the extensive weathering of the Sybella granites and is potential for clay-hosted REE, see Figure 5*.
Basin’s first drilling focuses on this conductive horizon using air core drilling. An average hole depth of approximately 35 meters is expected.
Summit Resources’ AEM survey not only outlines an interpreted extensive paleochannel network, but also highlights a conductive layer within the Barkly Tablelands sediment package immediately beneath this geochemical anomaly, approximately 12 meters thick at a depth of 20 to 32 meters with a footprint of more than 1,000 km2. This conductive layer could represent a clay unit produced by the extensive weathering of the Sybella granites and is potential for clay-hosted REE, see Figure 4*.
Basin’s first drillings will target this conductive horizon using air core drilling. An average hole depth of approximately 35 meters is expected.
Paleochannel Roll Front Uranium Potential – District scale target
Summit Resources’ AEM survey identified a stacked series of palaeochannels within the Barkly Tablelands, fed by the Sybella Batholith, see Figures 5 and 6*. This network is oriented southward, where no further AEM data exists.
The uranium content in the Sybella varies between different phases of granite, as shown in the regional ternary radiometric image and supported by regional lithology data, see Figure 6*.
Academic research also indicates that these “hot” granites are the source of Valhalla’s uranium deposits.
In addition, historical drilling recorded redox fronts, sandstone channels, and impermeable cover rocks, but no radiometric data was collected and no testing for uranium was done.
Using the Sybella rocks that likely provided the source for the Valhalla deposits, Basin will focus on the possibility that uranium is also mobilized from the Sybella granites, via the interpreted extensive paleochannel network, which appears to have suitable geological host characteristics.
Summit Resources and Fugro have completed targeted work to prioritize these interpreted channels.
Basin’s first-pass aircore drilling program will attempt to confirm the characteristics of these interpreted channels. An initial 35 holes are proposed, with an average depth of 40 metres, for a total of approximately 1,400 metres.
*To view tables and figures, go to:
https://abnnewswire.net/lnk/HA1CQR9E
About Basin Energy Ltd:
Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly promising projects in the south-eastern corner and edge of the world-famous Athabasca Basin in Canada and has recently acquired a significant portfolio of green energy metals exploration assets in Scandinavia.
Source:
Basin Energy Ltd
Contact:
Piet Moorhuis
Director
pete.m@basinenergy.com.au
+61 7 3667 7449
Chloe Hayes
Investor and media relations
chloe@janemorganmanagement.com.au
+61 458619317
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