Bubalus Resources Limited provided an update on targeting at its 100% owned Coomarie Dome Project. Coomarie Dome is located in the Tanami Region which is emerging as a potentially significant supplier of rare earth elements (REE) for global consumption due to the success of Northern Minerals and PVW Minerals. Coomarie Dome is just 30 kilometres from PVW's Watts Rise heavy rare-earth element (HREE) discovery.

REE mineralisation within the Tanami Region is hosted at unconformities between older metamorphic rocks associated with granitic intrusions and younger sediments (for example Browns Ridge, Watts Ridge-Castella and Mount Mansbridge. Mineralisation is often controlled by faults which cross cut the unconformity and are interpreted to have controlled fluid flow. Bubalus owns the entire domal structure at Coomarie and is able to pursue a similar exploration strategy to NTU's "Own the Dome" strategy.

The first step in the strategy utilises geophysical data to identify prospective areas around the dome margin. Magnetic data is a key targeting tool to identify both the unconformity and structures cross-cutting the unconformity. Accordingly, Bubalus has engaged Southern Geoscience to acquire and reprocess available geophysical data across the Coomarie Dome with the aim of delineating targets for initial work.

In addition, imagery of radiometric data using different channels and ratios will be reviewed to enable ranking of magnetic targets as well as generate additional areas of interest. Images of the reprocessed data and identified targets will be released when data has been received and reviewed. Following generation of targets at Coomarie Dome the Company will initiate ground activities at which will comprise collected detailed surface geochemical and geophysical data from the areas of interest.