The NT Independent is providing an update of resource news from across the Northern Territory. Highlights this week include Tamboran concluding the 10-stage stimulation phase in Beetaloo, Australasian Metals Limited focusing on the Mt Peake project, Blue Energy eyeing the NT gas frontier, Arafura appointing a new chief executive for its Nolans project and more.

Arafura Rare Earths’ Nolans project to have a new chief executive

Arafura Rare Earths has announced that it has replaced longtime managing director and chief executive Gavin Lockyer with Arafura board member Darryl Cuzzubbo.

“The search was assisted by Mr Lockyer and represented the Board’s focus on leadership transition by identifying the individual who can best lead Arafura through its next phase of development, including construction and delivery of the Nolans Project and growth into a globally significant rare earths producer,” the company said.

The company’s $1.6 billion Nolans project has been on the NT’s development drawing board for almost two decades, with the project’s final investment decision held back multiple times until market conditions were favourable.

Last December, Mr Lockyer said that work on the project could begin in the second half of this year.

Blue Energy eyeing NT gas frontier

Blue Energy (BLU), which started 2024 debt-free and with a cash balance of $6.65 million, will be progressing its gas projects in the Northern Territory. BLU is currently focusing on its Saphire 5V pilot well test program this month after completing maintenance work on a hydraulic pumping unit.

BLU has also been approved for its environmental management plan for the acquisition of two-dimensional regional seismic data in exploration permits 205 and 207 in the Northern Territory.

The company said the approval process took 11 months and followed environmental work and Indigenous sacred site surveys in 2022. It continues to undertake land access agreement negotiations with landholders.

Tamboran concludes the 10-stage stimulation phase in Beetaloo

Tamboran Resources Limited (TBN) has finished its 10-stage stimulation program over a 500-metre horizontal section of Mid Velkerri B Shale within the Shenandoah South 1H (SS-1H) well in Beetaloo Basin exploration permit EP 117.

TBN said flow back commenced in January 2024 and is on track to announce 30-day initial production (IP30) flow rates in the first quarter of this year.

The company has also signed a strategic partnership agreement and received a $15.2 million equity investment from Liberty Energy Inc., a leading North American energy services firm. Liberty plans to import a modern frack fleet into the Beetaloo Basin this year.

As of 31 December 2023, TBN had a cash balance of $47.8 million.

Australasian Metals Limited focusing on Mt Peake project

Australasian Metals Limited (A8G) has been focussing on potential lithium, gold, and precious metals discoveries with advanced Australian exploration projects. A8G said that it has started its first diamond drilling campaign at the Mt Peake project during the December quarter, and is targeting three holes over 600 meters.

Through two holes, A8G intended to test the geological zones under the formerly discovered lithium-bearing pegmatite outcrops (JC001 and MP10127) with 1.61 per cent Li₂O and 225 ppm Ta; and 1.15% per cent Li₂O & 223 ppm Ta, respectively.

A8G had designed the third hole to test a well-defined soil geochemical anomaly along the southeast trend from Core Lithium’s EL26848, where around six samples delivered approximately 1 per cent Li₂O with a maximum of 4.78 per cent Li₂O. Also, spodumene is outcropping within EL26848.

A8G has completed the diamond drill program at the Mt Peake Project and sent selected samples for analysis at ALS Global in Perth.

Kingsland considering strategic options for the Mt Cleo uranium project

Kingsland Minerals (KNG) is strategically reviewing its Cleo uranium project in the Northern Territory. Cleo has become a second priority to the company as it continues to progress exploration at the Leliyn graphite project, which it believes holds the potential to become a globally significant asset in a Tier 1 mining jurisdiction.

KNG is now focused on its Leliyn project, saying it is on track to deliver a maiden resource later this quarter. Leliyn is home to an exploration target of 200-250 Mt at 8-11 per cent TGC for contained graphite of 16-27Mt, based on a graphitic schist measuring 5km long, 200m deep and 100m wide.

The company said Cleo, along the sealed Kakadu Highway from Pine Creek and around 20 km from Darwin, remains underexplored. “It has enormous exploration upside both from extensions at depth and along strike as well as untested drill-ready targets in proximity to the existing resource,” KNG managing director Richard Maddocks said.