High-grade assays from drilling at Osmond Resources’ (ASX: OSM) Orión EU critical minerals project in Spain have confirmed the potential scale for globally-significant volumes of titanium (rutile), zircon, and rare earth elements.
The fourth hole spudded in the prospective Pochico Formation of Zone 3 intersected a quartzite-hosted, heavy mineral-rich layer at 132 metres with highlights of 3m at 3.49% titanium dioxide, 0.75% zirconium dioxide, 168 parts per million hafnium oxide and 0.171% total rare earth oxides (0.044% magnet rare earth oxides).
This intersection included 0.3m at 6.29% titanium dioxide, 1.12% zirconium dioxide, 254ppm hafnium oxide and 0.216% TREO (0.056% MREO) from 132.3m.
Indicative heavy mineral grades of 3m at 4.2% rutile, 0.2% ilmenite, 1.4% zircon, and 0.3% monazite from 132m including 0.3m at 7.5% rutile, 0.4% ilmenite, 2.1% zircon, 0.3% monazite from 132.3m were also recorded.
Rio Black Slates Assays
A fifth hole in the Rio Black Slates target transected the complete Pochico Formation sequence and three quartzite-hosted, heavy mineral rich layers.
Best assays were 2.1m at 5.2% titanium dioxide, 1.39% zirconium dioxide, 305ppm hafnium oxide and 0.24% TREO (0.062% MREO) from 178.15m (upper layer) including 1.5m at 5.62% titanium dioxide, 1.53% zirconium dioxide, 333ppm hafnium oxide and 0.254% TREO (0.065% MREO) from 178.15m, as well as 6.35m at 2.97% titanium dioxide, 0.67% zirconium dioxide, 149ppm hafnium oxide and 0.154% TREO (0.04% MREO) from 229.2m.
Indicative heavy mineral grades included 2.1m at 6.2% rutile, 0.3% ilmenite, 2.6% zircon and 0.4% monazite from 178.15m including 1.5m at 6.7% rutile, 0.3% ilmenite, 2.9% zircon, 0.4% monazite.
The company said the Zone 3 results significantly expand the target area for mineral resources within the Orión investigation permit and in the surrounding areas.
Fast-Tracking Development
On completion of a scoping study, Osmond will have an 80% interest in 95% of the Orión project, located in the Jaén Province of southern Spain.
Orión consists of 756 Spanish mining units across 228 square kilometres, and sits in a geological system with various layers rich in critical minerals and historical thorium, uranium, and galena workings.
Osmond is looking to fast-track development activities over the next six months to capitalise on strong European Union regulatory support for in-sourcing production of critical minerals.
This work will include initial drilling to confirm continuity and grade of the mineralised layers, definition of a mineral resource estimate, scoping study work, and confirmation of a metallurgical flowsheet.
