Octava Minerals identifies significant high-grade antimony in Yallalong drilling review

Octava Minerals (ASX: OCT) has identified high-grade antimony in a review of a base metals reconnaissance drilling campaign conducted earlier this year at the Yallalong nickel-copper-cobalt project in Western Australia.

The mineralisation sits within partially drilled targets of the Discovery prospect and is believed to be open in several directions, with previous drilling focused only on shallow oxide material.

Best historically-recorded intersections were 3 metres at 6.83% antimony from 21m including 1m at 13.6% from 22m and 7m at 3.27% antimony from 12m including 1m at 11.5% from 18m, while rock chip sampling in 2013 also recorded a number of anomalous values.

‘New importance’

Managing director Bevan Wakelam said the presence of antimony placed new importance on Yallalong.

“Our team had been re-examining data from the base metals campaign and noted that historic drilling for antimony had been carried out at the project when ingot prices were US$8,000 per tonne,” he said.

“Those prices are now over US$24,500/t so there is definitely unfinished business for antimony at Yallalong.”

Program submission

Octava has submitted a program of works to the state’s mining regulator with the aim of outlining an antimony resource at Discovery.

“We are very keen to drill some deeper holes to test for possible larger sulphide bodies and also to test undrilled targets where high-grade surface samples have been recorded,” Mr Wakelam said.

Traka Resources (ASX: TKL) identified the Discovery, Central, North and No.4 targets in 2015, but only drilled Discovery.

Yallalong location

The Yallalong project comprises two granted exploration licences over 157.4 square kilometres north-east of Geraldton.

The known nickel-copper-cobalt mineralisation is believed to be related to mafic-ultramafic intrusions along the Darling Fault bordering the Yilgarn Craton.

It is similar to the significant Julimar discovery to the south owned by Chalice Mining (ASX: CHN).

Critical mineral

Research by the US Geological Service shows that 80% of the world’s antimony stocks come from China, Russia and Tajikistan, with China representing almost 50% of supply and 80% of processing.

The critical mineral is used in flame retardants for plastics, textiles and other materials, as well as in solar photovoltaic glass.

The metal form of antimony is alloyed with lead for use in batteries and munitions.