The Aileron-Reynolds project north-west of Alice Springs represents Arafura’s key exploration focus in the Northern Territory. The project comprises six granted exploration licences (ELs 28473, 29498, 29509, 31224, 31284, 31957) and covers an area of approximately 1,240 km2. EL 28473 hosts the Nolans Bore resource.

The project is highly prospective for apatite-hosted NdPr mineralisation. Exploration undertaken by Arafura in the region to date has largely been focused in the Nolans Bore area. The Company has acquired extensive airborne geophysical surveys over large parts of the project area, including magnetic-radiometric and hyperspectral, to help prioritise targets for on-ground geological, geochemical and biogeochemical assessment, and drilling.

The primary emphasis of Arafura’s exploration at Aileron-Reynolds is on NdPr opportunities that are likely to deliver additional mill feed for the Nolans operation, or complement the development of the project.

Bonya JV

Arafura’s interests at Bonya, located approximately 280 km north-east of Alice Springs, are secured by EL29701 covering about 280 km2.

Exploration and subsequent development rights on EL 29701 are the subject of a joint venture between Arafura (60%) and Thor Mining PLC (Thor; 40% and operator). The initial focus of the joint venture is to explore for and delineate tungsten and copper resources as potential mill feed to Thor’s Molyhil tungsten-molybdenum development, 20 km west of EL 29701.