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The latest update is out from Balkan Mining and Minerals Ltd ( (AU:BMM) ).
Bayan Mining and Minerals has secured a reverse circulation drill rig from Alaska Midnight Sun Drilling Inc. for its maiden drilling program at the 100%-owned Desert Star rare earth project in California, marking a shift from surface exploration to subsurface testing. The fully permitted program, scheduled to start in June 2026 with up to 1,000 metres of drilling, will test high-grade surface rare earth anomalies and geophysical targets to assess the scale and continuity of mineralisation at depth.
The Desert Star project has delivered strong surface geochemistry results and exhibits favourable rare earth compositions dominated by light rare earths, including a substantial proportion of magnet-related elements Nd and Pr. Located just kilometres from the globally significant Mountain Pass rare earth mine and near the Colosseum Gold Mine, the project’s strategic position in a proven rare earth corridor could enhance Bayan’s industry standing if drilling confirms significant subsurface resources.
More about Balkan Mining and Minerals Ltd
Bayan Mining and Minerals Ltd is an ASX-listed exploration company focused on rare earth elements, with its flagship Desert Star project in San Bernardino County, California, USA. The company targets high-grade rare earth mineralisation in a Tier-1 district near MP Materials’ Mountain Pass mine, seeking to leverage favourable geology and proximity to established operations.
Average Trading Volume: 227,732
Technical Sentiment Signal: Sell
Current Market Cap: A$12.73M
Find detailed analytics on BMM stock on TipRanks’ Stock Analysis page.