Burley Faces Land Access Hurdles as It Pushes Cane Bore and Lithium Exploration

Exploration Progress at Cane Bore

Burley Minerals Limited (ASX – BUR) has made notable strides in its iron ore exploration during the June 2025 quarter, particularly at its 100%-owned Cane Bore Iron Project in Western Australia. The company completed its maiden reverse circulation (RC) drilling program at the South Target, comprising 28 holes totaling 1,020 metres. Assay results revealed encouraging Channel Iron Deposit (CID) mineralisation starting at surface and extending up to 9 metres deep, with iron grades peaking at 54% Fe (60% calcined Fe) and averaging nearly 50% Fe at a 47% cut-off.

This initial drilling confirms the presence of economically interesting iron mineralisation within a substantial 80-hectare mesa formation, located less than 100 kilometres from the Ashburton Port, a strategic advantage for future development. The accessible terrain and proximity to existing infrastructure further enhance the project's appeal.

Next Steps and Expansion Plans

Following the successful South Target program, Burley has secured a Permit of Work for a more extensive drilling campaign at the North and Step-Out Targets. This next phase will involve approximately 120 RC holes over a combined area exceeding 290 hectares, aiming to delineate the depth and extent of CID mineralisation. The company is coordinating heritage surveys with the Robe River Aboriginal Corporation to ensure compliance and community engagement before drilling commences.

Broad Flat Well and Lithium Ventures

In parallel, Burley reported significant assay results from its Broad Flat Well Iron Project, also in the Pilbara region, with intercepts up to 6 metres at 54.5% Fe from surface. These results suggest potential zones of higher-grade iron ore that warrant further investigation.

On the lithium front, Burley’s 100%-owned Chubb Lithium Project in Quebec, Canada, is strategically positioned near established lithium operations and infrastructure. The lithium market has recently rebounded, with prices surging over 20% from four-year lows due to supply cuts by Chinese producers and tightening inventories. This market dynamic could enhance the value proposition of Burley’s lithium assets as exploration advances.

Corporate and Financial Position

Burley strengthened its balance sheet during the quarter, completing a placement and entitlement offer that raised approximately $1 million to accelerate exploration activities, particularly at Cane Bore. The company ended the quarter with $1.2 million in cash, up from $745,000 at the previous quarter’s end. The Board and management participated in the capital raising, signaling confidence in the company’s prospects.

However, Burley continues to navigate legal challenges related to land access at its 70%-owned Yerecoin Iron Project in Western Australia. Ongoing Warden’s Court proceedings address disputes over surface rights, with recent legal precedents potentially expediting resolution. The outcome will be critical for advancing exploration and development at Yerecoin.

Outlook

With promising drilling results, a solid cash position, and a lithium market showing signs of recovery, Burley Minerals is poised to accelerate its exploration programs. The upcoming drilling at North and Step-Out Targets at Cane Bore will be closely watched by investors seeking confirmation of resource expansion. Meanwhile, the company’s ability to resolve land access issues and capitalize on rising commodity prices will shape its near-term trajectory.