InvestingPro’s Fair Value model captures 63% gain in Steelcase ahead of acquisition
LONDON - First Development Resources plc (AIM:FDR) will commence first-pass rare-earth element exploration at its Selta Project in Australia's Northern Territory in early December 2025, the company announced Wednesday.
The exploration program will focus on stream-sediment sampling and reconnaissance mapping at two priority target areas—Ingallan and West Nintabrinna—which were identified following detailed desktop studies showing elevated historical total rare-earth element results.
The field program, expected to last one week, aims to validate historical geochemical anomalies and generate new targets for potential follow-up work. Approximately 45 sampling locations have been planned across both target areas.
"Last month we stated our intention to fast-track REE exploration at Selta. The decision to accelerate this work was in response to a shift in geo-political policy to secure the supply and processing of Critical Minerals and REEs," said Tristan Pottas, Chief Executive Officer of FDR.
Samples collected during the fieldwork will be processed and analyzed in January 2026, with results informing future exploration activities that may include detailed mapping and sampling at both target areas. The company is also planning test auger sampling at West Nintabrinna to determine the area's ionic clay potential.
The Selta Project, wholly owned by FDR, is located in the Aileron Province, a region considered prospective for rare-earth elements, uranium, lithium, and gold. The company noted that stream sediment sampling is particularly effective for detecting heavier minerals such as those containing rare-earth elements.
FDR mentioned it hopes to benefit from the recently announced United States-Australia Critical Minerals Framework, which includes a reported $1 billion investment from both nations over the next six months to accelerate critical mineral projects.
The information was disclosed in a company press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
