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Key Highlights
- Entered into agreement to acquire NeoDys Limited, securing largest prospective uranium and rare earth package in Queensland, providing three, clearly defined and drill-ready targets, each amenable to low-cost, shallow drilling including:
o Drill target one - District-scale sediment-hosted ionic clay rare earth potential with $150,000 Queensland Government funding in place to fast-track drilling. Soil sampling confirmed widespread anomalism, including >600 ppm TREO with a maximum of 653ppm TREO.
o Drill target two - Paleochannel uranium system defined by AEM survey, directly along trend from the Sybella uranium "hot" granite.
o Drill target three - Hard-rock granite-hosted REE system, analogous to Red Metal's Sybella Discovery. Recent auger drill sampling returned numerous significant results including1 5 m @ 1,951 ppm TREO with 578 ppm Nd+Pr oxide, incl. 3 m @ 705 ppm Nd+Pr oxide.
- Commenced two-tranche capital raise for $1.25M, funding maiden drilling of uranium and rare earth targets in Q4 2025.
- Advanced multiple strategic partner discussions to release shareholder value for non-core deeper unconformity uranium targets.
Basin's Managing Director, Pete Moorhouse, commented:
"Basin announced a transformational acquisition of an extensive rare earth and uranium opportunity in North Queensland, with a concurrent capital raise to enable us to conduct maiden drilling on three district-scale opportunities.
The team has been moving quickly to enable Q4 drilling for two of these opportunities. The recently announced critical minerals agreement between Australia and the US heightens the strategic importance of these district-scale opportunities in increasingly tight markets.
In addition, as Sweden positions itself for the removal of the uranium mining ban in Q1 2026, Basin has positioned itself to capitalise on shallow, explorable uranium opportunities in a largely overlooked and extremely attractive district."
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/OL04L02H
About Basin Energy Ltd:
Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.
Source:
Basin Energy Ltd
Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449
Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317
