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Basin Energy Limited (ASX:BSN)

ALERT: Price-sensitive ASX Announcement for BSN
Current share price for BSN : $0.033 0.002 (6.45%)+
Announcement
Release
24 Apr 2026 8:56AM
Price at Release
$0.031
Full Release
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Summary
Basin Energy Limited has commenced drilling at its Newmans hard-rock rare earth prospect, part of the Sybella-Barkly project. The drilling aims to explore the depth extent of neodymium praseodymium (NdPr) dominant rare earth mineralisation identified in previous auger sampling. This project, supported by a recent capital raise, aligns with Basin's strategy to advance exploration in the rapidly emerging critical minerals district west of Mount Isa, Queensland. Assay results are expected by late May to early June 2026, with further exploration and drilling funded and planned across the broader portfolio.
Key Points
  • Drilling commenced at Newmans hard-rock rare earth prospect.
  • Exploration focuses on NdPr dominant rare earth mineralisation.
  • Project part of the Sybella-Barkly portfolio.
  • Assay results expected late May/early June 2026.
  • Recent A$1.1M capital raise to fund exploration.
  • Sybella project located west of Mount Isa, Queensland.
  • Basin Energy well-funded for further exploration.
  • Newmans prospect analogous to Red Metal's Sybella discovery.
  • Further RC drilling and electromagnetic surveys planned.
  • Basin Energy's strategy endorsed by investor support.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.