OD6 samples 93.7% fluorspar ahead of first drill program
Our US critical minerals Investment OD6 Metals (ASX: OD6 | OTCQB: ODSMF) just returned more high grade samples from its fluorspar project in Nevada.
Yesterday’s results came from sampling work OD6 has been doing while it waits for drill permits to land.
OD6 sampled 14m at 93.7% fluorspar from channel samples at its Big Jim target.
And ~99.9% fluorspar (so basically pure) in a new rock chip ~150m west of Big Jim.
(source)
These targets sit inside a ~700m area (within its wider 8km zone of interest):
(source)
The results from today also almost exactly match the 1947 records, when channel samples ran 90%-94% over workings mapped across more than 220m.
Grades this high from surface could support a low-cost and simple "dig and ship" operation as a fast path into production (drilling is still needed to prove what sits underneath).
We covered OD6's first look beneath these targets in last week's geophysics Quick Take.
Big Jim is now a priority target for OD6's maiden drill program, with permitting well advanced and drilling intended “in early 2027” (source).
We covered the lodging of the permits in a Deep Dive here: OD6 lodges drill permits and begins FAST-41 engagement for its Nevada fluorspar project
What is fluorspar and why it matters
Fluorspar is one of the more niche critical minerals that hasn’t quite received any mainstream attention YET.
However in 2024, fluorspar was listed as one of the nine materials with the highest shortfall risk for the US military in a major conflict scenario. (source)
(like we are in now)
Two explicit signals of fluorspar demand from US agencies have come from:
- The Department of War, through the Ares’ up to US$250M supply contract, (source) and;
- The US Defence Logistics Agency (DLA) - when it included fluorspar on its list of critical minerals that are a priority for sourcing in January this year. (source)
On the 20th of July, President Trump signed an Executive Order to force defence contractors to explore all avenues before buying critical minerals from China. (Here is the full EO)
And set a deadline for “exploring all avenues” of 1st January 2027.
We think that the 1st of January 2027 deadline (and the threat of lost contracts) will mean capital starts getting deployed for any projects that have any realistic pathway to producing a critical mineral in the US.
So with this government focus, we are waiting to see if anything comes of OD6’s talks with various government initiatives, which we covered here: OD6 lodges drill permits and begins FAST-41 engagement for its Nevada fluorspar project
What's next for OD6?
🔄 Drill permit application
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 139 drill pad locations across priority target areas:
(source)
Milestones:
- ✅ Plan of Operations submitted
- 🔄 Plan of operations approved
- 🔲 Drill program commenced
