OD6 adds two historic fluorspar mines to Nevada portfolio
Our US critical minerals Investment OD6 Metals (ASX: OD6 | OTCQB: ODSMF) just agreed to acquire two historic fluorspar mines in Nevada.
One of them has samples returning 89.6% fluorspar and the other has produced at an average grade of ~50% fluorspar back in the 1950’s.
The new ground adds to OD6’s existing projects in Nevada which only just received FAST-41 status from the US government.
Here is where the new blocks sit relative to OD6’s existing projects:
(source)
OD6 got FAST-41 on Monday, what does this mean?
With so few fluorspar opportunities on the ASX (especially US based), we think OD6 is in a unique position in the current macro for the US to get back a domestic critical minerals supply chain.
OD6 already has a bunch of targets showing high grades from surface work (trenching, sampling, soils), plus a few historic holes from the 1950s.
Now it has FAST-41 status to help it accelerate the exploration permitting process, for that all important drilling to test what is under the surface.
FAST-41 is a special accelerated US permitting and development framework for projects considered "critical" and essential for US national security.
Basically, it is the equivalent of the US federal government saying "this project matters - we need it developed ASAP, everyone move faster" from a permitting and building perspective.
You can see the US government’s permitting dashboard for OD6 here
FAST-41 status should mean OD6 by the 20th of November has a viewable permitting timetable posted on the US government's website for OD6's project (this is what the page currently looks like).
(See the US government’s permitting dashboard for OD6 here)
FAST-41 brings OD6’s drilling approval process onto a public federal timetable, for everyone to see.
- A comprehensive permitting timetable and defined milestones.
- Public tracking of progress on the Federal Permitting Dashboard.
- Coordination between the relevant federal agencies.
- A dedicated Permitting Council project advisor.
In plain English: there are to be clearer steps, clearer timing and more visibility over progress towards that coveted drilling permit.
So hopefully OD6 is able to get drilling as it expects in early next year, where it can start to test to see if all of the prior surface work and theories is validated.
OD6 believes form the sampling that the fluorspar could connect under the surface, we have visualised it as icebergs:
(source)
See our Deep Dive on the FAST-41 news here: OD6: Just got FAST-41 status for its USA fluorspar project - which means the US government wants it to happen... FAST
What's next for OD6?
🔄 Drill permit application (now being accelerated with FAST-41)
In September OD6 submitted the paperwork that, once approved, will allow it to do the first modern drilling (and bulk sampling) at the project since the 1950s.
The “Plan of Operations” is for up to 96 drill pad locations across priority target areas:
(source)
Milestones:
- ✅ Plan of Operations submitted
- 🔄 Plan of operations approved
- 🔲 Drill program commenced (expecting to drill in early 2027)
