Drilling by Octava Minerals (ASX:OCT) at the Byro Rare Earths and Lithium Project in Western Australia has confirmed historic mineralisation over a 30km strike.
The company reported assay results showing intercepts of more than 50m from surface, including 500 parts per million (ppm) total rare earth oxides, 375ppm lithium oxide and 523ppm vanadium pentoxide.
“Octava is investigating the potential for Australia’s first large-scale, low-cost sedimentary basin deposit of rare earths, lithium and base metals,” Managing Director Bevan Wakelam said.
“We will commence initial metallurgical testwork to determine the viability of extracting these metals from the black shale at Byro.“
Octava drilled two core holes totalling 204m to obtain fresh black shale samples for testing.
Wakelam said metal extraction from black shales is a proven, low-cost technology used in other operations around the world.
Octava said further drilling and metallurgical studies are planned as it seeks to establish Byro’s commercial potential.
The Byro Project, located 220km southeast of Carnarvon, spans 798km2 and benefits from existing infrastructure, with access to Geraldton Port.
Octava Minerals is a Western Australia-based new energy metals exploration and development company.
Write to Dan Petrie at Mining.com.au
Images: Octava Minerals
