Junior explorer OD6 Metals (ASX:OD6) has confirmed ‘thick’ saprolite clay horizons at two prospects within its Splinter Rock Critical Rare Earth Project in Western Australia through phase three drilling.
The company, which has a $22.53 million market capitalisation, says the presence of clays across a 16km length at the Centre prospect and 11km length at the Prop prospect with widths between 4km and 5km correlates ‘strongly’ with data obtained from a previously completed airborne electromagnetic survey (AEM).
OD6 Metals says this highlights the ‘strong’ potential for a Mineral Resource Estimate (MRE) expansion and classification upgrade for the project in Q4 2023.
The company notes the phase three drilling comprised 145 holes for 7,435m at an average depth of 51m and maximum depth of 104m. Drilling was designed to test the length extension and determine the grade continuity and thickness at key Centre and Prop prospect areas.
However, several planned holes were not completed as part of this program due to wet ground conditions and are expected to be revisited as part of a fourth phase of drilling.
With drilling now complete, OD6 Metals says samples are currently being assayed for rare earth elements (REEs), with results expected to be received during Q3 this year.
Addressing the completion of drilling, OD6 Metals Managing Director Brett Hazelden says: “This third phase of drilling at our flagship Splinter Rock Project program continues the advancement of our key Centre and Prop Prospect areas. Our focus was to further test the significant length of these areas whilst also determining the continuity of grade and thickness of clay extensions.
We are delighted to confirm clay thicknesses initially observed strongly correlate with and validate the Airborne Electromagnetic Survey data, providing our team with further confidence in our exploration methodology.
“We are delighted to confirm clay thicknesses initially observed strongly correlate with and validate the Airborne Electromagnetic Survey data”
OD6 is grateful for the continued support from the Department of Mines, Industry Regulation and Safety, whose funding, via the Exploration Incentive Scheme, helped facilitate the expedition of this drill program.
We eagerly await assay results and look forward to confirming our aim of significantly expanding on the length of the main prospects and growing our clay-hosted rare earths discovery even further.”
OD6 Metals is an ASX-listed explorer and developer focused on uncovering opportunities within the critical mineral sector.
The company’s wholly owned Splinter Rock project is located in the Esperance-Goldfields region of Western Australia, about 30km to 150km northeast of the major port and town of Esperance.
OD6 Metals had $3.5 million cash at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: OD6 Metals Ltd
