Bubalus secures Heritage Authority Certificate approving drilling to start at Nolans East rare earths project
Late June/July drill program will test eight of the 22 targets identified by sampling
Project is just 15km from the third-party Nolans Bore project that is undergoing development
Special Report: Bubalus Resources has the green light to start maiden drilling at its Nolans East REE project in the Northern Territory after receiving the key Heritage Authority Certificate.
Nolans East is 15km from Arafura Resources’ (ASX:ARU) Nolans Bore project where Australia’s next REE mine and refinery are under construction with $840m in government funding support.
Bubalus Resources (ASX:BUS) has defined 22 drill-ready targets at Nolans East from its extensive sampling program that returned > 500 parts per million (ppm) total rare earth oxides (TREO) with a peak value of 2053ppm TREO.
Notably, valuable neodymium-praseodymium (NdPr), which is used to manufacture permanent magnets for electric vehicles and wind turbines average 22% of that total REE content.
REE drilling to start soon
The Heritage Authority Certificate found that drilling would not adversely impact Aboriginal cultural heritage in three areas that cover many of the targets defined by surface sampling.
It allows for the company to carry out aircore and reverse circulation drilling along with associated clearing work.
The maiden drill program, slated for late June/July will test eight of the 22 targets, all of which lie within extensive surface REE anomalies defined over a 5km trend.
BUS has sent a request for proposals to suitably qualified drill contractors and drilling is expected to start in June/July.
This article was developed in collaboration with Bubalus Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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