Barkly Rare Earths expands rare earth footprint across 23km of drilling

Rare earth horizon appears continuous across 23 kilometres

Barkly Rare Earths Limited (ASX:BAK) has added another layer of continuity to its Barkly Project story, with significant rare earth intercepts now returned from 43 of the 44 holes reported across the Northern Territory tenements. The holes span up to 23 kilometres, while 30 contained individual 0.5-metre assays grading at least 2,500 ppm total rare earth oxides (TREO).

The latest batch covered 16 new holes, 15 of which returned significant intercepts. Standout results included 1.5 metres at 2,869 ppm TREO and 1,019 ppm magnet rare earth oxides (MREO) from 16.5 metres in BAK0121, including 0.5 metres at 4,211 ppm TREO. BAK0123 returned 3 metres at 1,578 ppm TREO from 10.5 metres, including a 0.5-metre interval at 5,156 ppm TREO.

The results build on the 10,000-metre drilling programme, which was launched to test extensions around Barkly’s existing 40-million-tonne Inferred Mineral Resource grading 2,100 ppm TREO. Mineralisation was intersected from surface in BAK0212 and remains open in all directions, according to the company.

Follow-up assays widen earlier intercepts

Follow-up laboratory work also expanded the mineralised intervals in 11 of the 16 previously reported holes revisited. BAK0053, for example, widened to 4.5 metres at 1,566 ppm TREO and 531 ppm MREO from 11 metres, from an earlier 3-metre interval.

That increase in width came with a lower average grade, as the additional samples captured the lower-grade margins around the previously screened zones. Across the 28 intercepts first reported on 16 September, average width increased to 2.1 metres from 1.7 metres, while the company said the high-grade internal intervals were unchanged. Follow-up assays for the remaining 12 holes are still to come.

MREO content and low contaminants remain key signals

MREO represented between 29% and 39% of TREO in 42 of 45 significant intercepts, close to the 34% ratio in Barkly’s existing Inferred Mineral Resource. Uranium and thorium were also consistently low across the reported intercepts, at 1-7 ppm uranium and 5-15 ppm thorium.

Those characteristics are relevant to Barkly’s processing work, but they do not yet establish an economic project. The company’s earlier 99% MREO extraction result came from a preliminary sighter test, and the next metallurgical phase will use larger composites to assess repeatability, recovery, impurity deportment and flowsheet viability.

Resource growth depends on the next drilling phase

Barkly has drilled 71 holes for 1,667 metres so far. Assays from another 16 holes are expected in the coming weeks, samples from 11 more holes are at site for preparation and laboratory submission, and more than 300 additional holes are planned. The company is tendering for a second rig after drilling resumed on 5 October following downtime while replacement parts were prepared and delivered.

The stated target is an updated Mineral Resource in the fourth quarter of 2026, subject to drilling and laboratory progress. Barkly also reports a conceptual Exploration Target of 200 million to 1 billion tonnes at 1,600-1,900 ppm TREO, but that estimate is not a Mineral Resource and the company cautions that further exploration may not result in its conversion.

The dataset is encouragingly broad, yet still provisional. Seven holes drilled to 31 August had not been assayed, some collar positions remain based on planned rather than verified coordinates, and the announcement notes minor possible laboratory contamination issues under investigation. The next assay batches will therefore matter not only for scale, but for how consistently the emerging geological model survives more complete sampling.