OD6 Metals expands Prop prospect potential

OD6 Metals (ASX:OD6) reports that new assay results from phase three aircore drilling ‘significantly’ expand the potential of the Prop prospect within its Splinter Rock Project in Western Australia. 

The drilling work returned grades of up to 4,159 parts per million (ppm) total rare earth oxide (TREO), with extensive clay thickness of up to 56m of consistently ‘high-grades’. 

Importantly, 96% of the holes encountered clays with rare earth concentrations of more than 300ppm TREO, with 61% of holes intercepting rare earth concentration of more than 1,000ppm TREO. 

The $16.39 million market capitalisation company says these drill results ‘strongly’ correlate with interpreted data from airborne electromagnetic (AEM) survey work, validating its geological modelling and exploration design. 

‘Significant’ intersections include drillhole SRAC0406 with 56m @ 1,111ppm TREO from surface, including 30m @ 1,646ppm TREO from 24m; and drillhole SRAC0432 with 14m @ 1,628ppm TREO from 27m. 

Commenting on the drill results, OD6 Metals Managing Director Brett Hazelden says: “These outstanding drill results have further confirmed the high-grade clay-hosted rare earth nature of the Prop prospect. 

It is important to recognise how materially these results expand the extent of the current footprint of high-grade mineralisation at the Prop prospect, offering real and substantial potential for resource expansion. 

It is important to recognise how materially these results expand the extent of the current footprint of high-grade mineralisation at the Prop prospect”

Results remain outstanding for 67 holes of the drilling program at our Centre prospect, which also stepped out from the existing extent of the MRE boundary. We are eagerly awaiting these assay results and expect them to be progressively received over the coming weeks. 

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.”

A total of 145 holes for 7,435m were drilled to an average depth of 51m and a maximum depth of 104m at a 400m spacing interval. 

The phase three drill program was funded through the Western Australian Government’s Exploration Incentive Scheme Co-funded program. 

OD6 notes the drill assays from the Centre prospect are expected to be received during September and October 2023. 

A review and potential upgrade of the Mineral Resource Estimate (MRE) is anticipated during Q4 this year. 

OD6 Metals is an Australian explorer and developer focused on its wholly owned Splinter Rock and Grass Patch projects in the Esperance-Goldfields region of Western Australia. 

As of 30 June 2023, the company had $3.5 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au   

Images: OD6 Metals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.