Basin Energy (ASX:BSN) has kicked off follow-up drilling at its Newmans rare earth discovery in northwest Queensland, beginning what could be a busy second half of 2026.
The immediate job is to test whether the shallow magnet and heavy rare earth mineralisation identified in maiden drilling holds together across the 3.3km corridor.
If it does, Basin has already identified plenty of room to keep pushing.
Newmans delivered first time around
Maiden drilling gave Basin a clear reason to return.
The standout hole, SBRC26006, returned:
- 24m @ 453ppm MREO within 2,247ppm TREO from 6m
- Including 9m @ 596ppm MREO within 2,774ppm TREO from 18m
Importantly, the mineralisation contains the high-value magnet rare earths neodymium and praseodymium, alongside heavy rare earths including dysprosium, terbium and yttrium.
Four of the eight maiden holes hit shallow rare earth mineralisation, helping Basin define a 3.3km mineralised corridor within a weathered granite system.
Managing Director Pete Moorhouse said the next program is about establishing continuity and building scale at the emerging discovery.
Figure 1: Newmans RC proposed infill drilling areas.
The exploration model is taking shape
There is more to Newmans than a handful of drill hits.
Basin believes rare earth mineralisation is concentrated within preserved weathering profiles developed over fertile granites.
That relationship was evident in the maiden program, where stronger weathering coincided with better rare earth mineralisation.
Basin is now using drilling alongside radiometric and satellite data to hunt for more of those preserved zones.
Two priority areas covering around 22km² have already been identified adjacent to the best hole, giving the company a much larger footprint to test if the current drilling strengthens the model.
Three shots at growth
Newmans is only the first drill campaign planned for the remainder of 2026.
Basin is targeting three programs across Q3 and Q4.
Following the current infill campaign, Queensland Government-backed drilling is planned to test phosphate-associated heavy rare earth potential southwest of Newmans.
Step-out drilling is then proposed across priority targets generated from the current results and remote sensing, subject to heritage clearances.
It gives investors several opportunities to see the rare earth footprint expand before year-end.
Table 1: Significant rare earth oxide basket results from Newmans RC drilling.
A bigger Sybella opportunity
Newmans sits within the broader Sybella Batholith, around 20km from Red Metal’s Sybella rare earth discovery.
Basin controls a sizeable 5,864km² landholding west and southwest of Mount Isa, including ~685km² known or interpreted to cover the Sybella Batholith.
That makes Newmans important for another reason. If Basin’s weathering model proves repeatable, it could provide a blueprint for targeting rare earth mineralisation across a much larger area.
What’s next
The drill rig is turning, and the first answers aren’t far away.
Assays from the current Newmans program are expected in mid-to-late September, followed by further drilling through H2 2026.
Basin is also progressing preliminary metallurgical work, an important next step in understanding how the rare earth mineralisation could ultimately be processed.
The discovery has been made. Now Basin needs to show how far it goes.
