NT Resource Wrap – Large-Scale Rare Earths and Base Metals Project Identified

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In this week’s resources summary, we identified a potential large-scale rare earths project, a Beetaloo Basin explorer discussing funding with the federal government after his loss in court, the federal resources minister coming to Darwin , the sale of 50% of an NT onshore gas assets, and more.

Identification of Chase Mining Large-Scale Rare Earths and Base Metals Project

Chase Mining has identified a large-scale rare earths and base metals project in the Barkly area, the company said in a statement Wednesday.

President and CEO Doctor Leon Pretorius said Geoscience Australia conducted a recent geochemical and geophysical review and identified a new rare earths and base metals project area on the northern Barkly Plateau.

The rare earths identified included the very valuable niobium and neodymium. And the base metals identified were copper, lead, zinc, copper-cobalt, bismuth, molybdenum, tellurium, niobium, palladium, uranium, vanadium and tungsten.

He said the project includes three exploration permit applications (33128/29/30) totaling 1,950 km2 on pastoral land 500 km northwest of Mount Isa and 150 km southwest of McArthur River. .

Some of the requests will require native title agreements before being granted, so the timing is unknown, and the next step for the company to prove the resource is drilling once the targets are well defined, said Dr. Pretorius.

Imperial Energy

In December of last year, Empire Energy had a $20 million grant halted in a federal court battle between The Environment Center NT and the federal government. The NT Environmental Center has successfully secured the cancellation of the grant to develop the onshore Beetaloo Basin gas field that was awarded earlier in the year. However, the Federal Court also dismissed the Environment Centers’ challenge to the validity of the program as a whole and the grants can still be renegotiated.

Managing DirectorAlex Underwood said he would support the work programs in accordance with the Federal Court’s Dec. 23 ruling.

In the decision, Empire Energy lost a federal court battle with the Environment Center NT over a $21 million federal grant to develop the onshore Beetaloo Basin gas field that was awarded earlier in the year. ‘year.

The Environment Center NT argued in Federal Court that the $21 million grant for exploration wells was legally unreasonable on several grounds.

Australasian Metals finds high-grade lithium at Mt Peake

Australasian Metals (AG8) continues to advance its projects in the Northern Territory, it said in its December quarter business statement.

The general manager said Doctor Qingtao Zeng said that in the notn the Arunta Pegmatite Province, the company discovered high-grade lithium on its Mt Peake property, approximately 100 km northeast of Barrow Creek.

Mt Peake also hosts high-priority pegmatite and lithium, according to A8G and CSIRO findings, he said.

The company reached an agreement with Prodigy Gold (PRX) late in the quarter to acquire a 90% interest in the Barrow Creek lithium project.

Doctor Qingtao Zeng said the agreement covers an area of ​​880 km2, which includes five buildings.

Askari Metals eyes aggressive move to Barrow Creek

After raising $2.6 million, Askari Metals (AS2) purchased the Barrow Creek lithium property from privately held Consolidate Lithium Trading, the company said in a recent ASX statement.

Executive Director Gino D’Anna described the project area as “very promising for hard rock lithium-tin-tantalum mineralization”.

Mr D’Anna said Askari was well funded to pursue his initiatives “aggressively”.

Central Petroleum completes sale of 50% of NT assets

Central Petroleum has completed the sale of 50% of its interests in the Mereenie, Palm Valley and Dingo fields in central Australia, the company said in its business activity statement.

General Manager and CEO Leon Devaney said the buyer was New Zealand Oil & Gas Limited (NZOG) and Cue Energy Resources Limited (Cue) for around $85 million.

He said it was a profit of $36 million and the proceeds would fund a development and exploration program in the same fields. The proceeds also facilitated the repayment of $31 million in debt.

The resource sector is back in 2022 with the following events.

Darwin Mining Club lunch

Northern Territory Investment Commissioner Andrew Cowan will provide an update on investment priorities and their implications for the mining sector.

Date: February 18

Venue: Waterfront Rooms, Darwin Convention Center

Time: noon to 2:30 p.m.

Back to Business 2022 with Federal Minister of Water and Resources Keith Pitt

The sixth annual back-to-business event will feature Federal Water and Resources Minister Keith Pitt, who is expected to provide an overview of the coming year, with a particular focus on the territory’s energy industry and its prospects. for 2022.

Date: February 22

Venue: The Grand Ballroom, DoubleTree by Hilton, 116 The Esplanade Darwin

Time: 6 p.m. to 9 p.m.

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