Barkly Rare Earths (ASX:BAK) said drilling was underway for its 10,000-meter phase one resource drilling program at its Barkly rare earths project in the Northern Territory, according to a Monday Australian bourse filing.
It is targeting shallow mineralization around the existing inferred mineral resource of 40 million tonnes at a 2,100 parts-per-million grade of total rare earth oxides. Drilling is being conducted by Colling Exploration.
Its shares jumped 7% in recent trading on Monday.
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