Key Highlights

  • Barkly reported rare earth intercepts from 56 of 60 holes in its Phase 1 drilling program.
  • Alurion began infill drilling and trenching for its Amargosa bauxite-gallium pre-feasibility study.
  • Rapid Critical Metals completed its maiden diamond drilling program at Prophet River.
  • Assays for Prophet River are expected in mid-November 2026.

Barkly Rare Earths Limited (ASX:BAK), Alurion Resources Limited (ASX:ALU) and Rapid Critical Metals Limited (ASX:RCM) each released updates on 27 October 2026. The reports cover rare earth drilling in the Northern Territory, feasibility work on a Brazilian bauxite-gallium project and maiden drilling at a gallium-germanium project in Canada.

Latest Developments

Barkly reported that its Phase 1 drilling at the Barkly Project drilled 71 holes for 1,668 metres in the September quarter, with drilling resuming on 5 October 2026 after a period of downtime awaiting parts. Significant rare earth intercepts have been reported from 56 of 60 holes assayed to 19 October. A single small-composite sighter test extracted 99 per cent of magnet rare earth oxides to the acid leach solution, although the company said the result needs repeat and confirmatory testwork. Cash stood at A$3.45 million at 30 September 2026.

Alurion said infill drilling and bulk-sample trenching have started at its Amargosa Bauxite-Gallium Project in Brazil, supporting an updated mineral resource estimate and a pre-feasibility study targeted for mid-2027. The program includes 203 auger holes, 20 diamond twin holes and up to 16 bulk-sample trenches. An independent road-logistics study confirmed that road haulage is viable at capacities up to 11.5 million wet tonnes a year, twice the scoping study base case. Alurion listed on the ASX in July 2026, raising about US$34.8 million in its initial public offer.

Rapid Critical Metals completed a maiden seven-hole, 1,486-metre diamond program at its Prophet River Gallium-Germanium Project in northeastern British Columbia. Visible zinc and lead sulphides were logged in all seven holes, and the logged interval at Pad 2 widened from about 3.5 metres to about 29 metres as holes became steeper. Assays are being processed at ALS and are expected in mid-November 2026, with the company planning a seismic survey and further drilling after results are received.

Sector Context

Rare earth, bauxite and gallium projects are attracting interest because of their roles in magnets, aluminium and electronics Supply chains. Development timelines in this part of the sector are often driven by metallurgical testing, environmental approvals and the need to secure funding for larger studies, rather than by near-term production.

Rare earth and critical metal projects are often judged on the progression from exploration to metallurgy and then to study work. The three companies show early steps in each area: Barkly is building a broad drilling database, Alurion is working toward a pre-feasibility study on a large bauxite and gallium resource, and Rapid is waiting on assays for its maiden holes. The timing of each step can depend on laboratory capacity, approvals and access to capital, and those factors may be as important as geological results in determining the pace of progress.

Risks to Consider

Barkly's metallurgical result is from a single small composite and may not be repeated at scale. Alurion's pre-feasibility study depends on the results of current drilling and on logistics and port arrangements, and its project remains at an early stage. Rapid's visual estimates in drill core are not a substitute for laboratory assays, and the company has noted that true widths are not yet known. Each company also faces funding requirements and potential share dilution.

What to Watch Next

Readers may look for Barkly's remaining Phase 1 assays and repeat metallurgical testing, Alurion's updated resource estimate and pre-feasibility progress, and Rapid's Prophet River assays expected in mid-November, followed by the seismic survey program.

Final Word

The three updates show projects at different points in their development, from rare earth drilling and testwork to bauxite feasibility and gallium-germanium drilling. Upcoming laboratory results and study outcomes will show whether early findings carry forward, and readers can follow each company's announcements for updates.