- Bubalus Resources (BUS) prepares to kick off an “active” 2023 drilling season across its wholly-owned projects in the Northern Territory
- Exploration efforts at the Nolans East project will start following the NT wet season, with drilling scheduled for mid-2023
- At the Coomarie project, Bubalus plan to carry out an initial field program in Q3 2023 to generate targets for future drilling
- Meanwhile, the company has commenced approval processes to start drilling at the Amadeus project in Q3, 2023
- Shares in BUS remain steady, trading at 20 cents at 1:55 pm AEDT
Bubalus Resources (BUS) has highlighted its plans to embark on an “active” 2023 drilling season at its wholly-owned projects in the Northern Territory.
The company’s portfolio includes the Coomarie and Pargee projects, both of which are considered prospective for heavy rare earths.
Rounding out Bubalus’ projects are Amadeus and Nolans East, which are considered prospective for manganese and light rare earths, respectively.
For 2023, the company has prioritised the targeting of rare earth element (REE) mineralisation at the Nolans East and Coomarie projects, as well as manganese mineralisation at the Amadeus project.
At Nolans East, the company will continue its sampling program, as a result of past success, over a 10-kilometre-by-three-kilometre area. It hopes to better delineate the REE anomalism, both spatially and quantitatively.
The company will also carry out field inspections of outcrops, combining the data with aeromagnetic data to rank potential drilling targets.
Drilling is scheduled to commence in mid-2023, with BUS already commencing its process to gain approval and consent for drilling at Nolans East.
The Coomarie project, in its early stage, is located near the WA-NT border in the Tanami region — a region emerging as a potential significant supplier of rare earth elements.
In November 2022, Bubalus called on Southern Geoscience to acquire and re-process open-file geophysical data over the Coomarie project.
The exercise has since been expanded in an effort to produce a geological interpretation for the project area. Bubalus aims to delineate areas for field inspection in Q3, 2023.
At the Amadeus project, the company has started its approval process to begin drilling. A field reconnaissance program across the project in late 2022 confirmed good access to the project area and regional infrastructure to support drilling.
In the past, the project has been identified to host numerous occurrences of outcropping manganese mineralisation. While the prospects have been extensively mapped and sampled by historic explorers, only the Tardis project has been previously drill tested.
The company plans to start drilling in Q3 2023.
Bubalus has said it remained well-funded to carry out all exploration and drilling activities.
Shares in BUS remained steady, trading at 20 cents at 1:55 pm AEDT.