OD6 Metals Ltd (ASX:OD6) managing director Brett Hazelden joins Elisha Newell in Proactive’s virtual studio to unpack resource news from the company’s Splinter Rock rare earth camp near Esperance in WA.
OD6 shares surged in late May after the company doubled its rare earth resource to 682 million tonnes at 1,338 parts per million (ppm) total rare earth oxides (TREO), including a higher confidence indicated resource of 119 million tonnes at 1,632 ppm TREO.
The resource also contains high-value magnet rare earth oxides (MREO), which constitute about 23% of the resource and weigh in at around 205,000 tonnes of MREO.
Hazelden believes the rare earth asset is a cut above the rest, with the latest MRE results positioning Splinter Rock as one of the largest and highest-grade clay-hosted rare earth projects worldwide.
But this is far from the end of the story: OD6’s rare earth camp shows potential for further expansion, with unexplored clay basins offering additional upside.
Moving ahead, OD6 will crack on with a scoping study focused on the Inside Centre prospect, slated for completion before 2025. The company also plans to set the drill rigs turning before year’s end in the hopes of adding to the already substantial resource.