OD6 Metals (ASX:OD6) has completed the acquisition of the Quinn Fluorspar Project in Nevada, US, after completing four months of due diligence activities.
The company paid a total consideration of $200,000, inclusive of $100,000 in cash and $100,000 in shares.
This consideration included the transfer of 700,706 shares to vendors at $0.143 per share, based on the 10-day volume weighted average price prior to the option exercise date.
OD6 Metals also issued 1.5 million shares to Sapphire Beginnings Capital for the final tranche of facilitation consideration, which was approved by shareholders.
The Quinn Project will be held through OD6 Metals’ wholly owned subsidiary, US Fluorspar.
With the acquisition now complete, OD6 Metals is awaiting the receipt and interpretation of pending assay results from exploration at Quinn.
Last month, OD6 Metals reported grades up to 6.31 grams per tonne gold from assays collected at Quinn, which the company says confirms the potential for the project to establish Nevada Carlin-style and epithermal fluorspar-gold targets.
At the project, the company will complete geological modelling and drill targeting; finalise the ongoing geological and structural mapping program; conduct expanded field programs; identify priority drill targets; and integrate into permitting activities.
OD6 Metals is currently progressing metallurgical test work for the Quinn Project. The company will also lodge bulk sample permit applications and prepare a maiden drilling program ahead of resource definition and development studies.
The project comprises 48 State of Nevada mining claims, sitting around 220km north of Las Vegas within a ‘highly prospective’ epithermal fluorite district.
Managing Director Brett Hazelden says the company was able to confirm “exceptional historical grades” and expand the project almost fivefold in the option period.
“What began as an acquisition opportunity has rapidly evolved into what we believe is a district-scale critical minerals project,” Hazelden says.
“Importantly, every major work program has continued to strengthen our confidence in Quinn’s potential to become a strategic domestic supplier of premium fluorspar into the United States.
“With completion of the acquisition, OD6 now controls one of the largest consolidated fluorspar exploration positions in the United States.
“Combined with ongoing exploration success, metallurgy, and permitting activities, the company is now transitioning from acquisition to systematic resource definition and project development.”
Quinn findings
OD6 Metals exercised its exclusive option agreement for the acquisition of the project in early June, before obtaining shareholder approval at an extraordinary general meeting on 20 July 2026.
Following the acquisition of the 48 mining claims, OD6 Metals has consolidated a total of 226 mining claims, covering 1,890 hectares. This is inclusive of 178 claims staked since March 2026.
Multiple new project areas have been added that indicate over 20 fluorspar occurrences, supporting OD6 Metals’ future hub-and-spoke development strategy.
At Quinn, ‘high-grade’ channel sampling has verified numerous historical intersections that are near-surface and open in multiple directions. The company has defined multiple priority drill targets and confirmed an 8km fertile mineralised corridor.
Following beneficiation, OD6 Metals has potential to produce acidspar and metspar products due to identified low impurity mineralisation.
OD6 Metals is a critical minerals explorer and developer with projects spanning fluorspar, rare earth elements, and copper across the US and Australia.
Write to Maddison Elliott at Mining.com.au
Images: OD6 Metals
