Bubalus Resources has defined 22 drill-ready targets at its Nolans East project in the Northern Territory
Six of those are deemed high priority for immediate drill testing & follow-up work
Heritage survey completed with survey results expected shortly
Special Report: Extensive sampling carried out across Bubalus Resources’ Nolans East project in the Northern Territory has delineated 22 targets for further investigation.
About six of those targets require immediate drill testing following a program of assay analysis for rare earth elements (REE) undertaken by Intertek, a leading provider of metallurgical testing services for the minerals sector, at Nolans East.
The program comprised 267 samples returning > 500ppm total rare earth oxides (TREO) and a peak value of 2,053ppm TREO, with the neodymium-praseodymium (NdPr) content averaging 22% of that.
Bubalus Resources (ASX:BUS) says the result is similar to that reported at Nolans Bore (26%), now home to a 56Mt resource with an average grade of 2.6% TREO and a high proportion of NdPr and 11% phosphate.
Nolans East is 15km from Nolans Bore where Arafura Rare Earths (ASX:ARU) is constructing Australia’s next REE mine and refinery, underpinned by the recent commitment of $840 million in Federal Government funding support.
Drilling preparations
Recent work by Sugden Geoscience has now refined these anomalies into 22 discrete targets.
BUS has been informed by the Aboriginal Areas Protection Agency (AAPA) that a heritage survey over the targets at Nolans East has now been completed by the Aboriginal Traditional Owners for the area.
The company is awaiting the results of this survey from the AAPA and the Central Land Council (CLC) as the representatives of the traditional owners, after which BUS will be able to complete drill hole design and engage drilling contractors for initial drilling.
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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