• 14 new structural targets have been identified at the Yallalong project
  • They expand the scale of Yallalong’s exploration model for high-grade antimony
  • The targets will be evaluated in the next drilling campaign

 

Special Report: Detailed interpretation of geophysical data, integrated with previous drilling results, has expanded the scale of exploration at Octava Minerals’ Yallalong project in WA.  

A geophysical survey was undertaken to identify underlying structures, such as shears and faults, which act as conduits to mineralising fluids.

It also outlines key lithological boundaries – important factors in the formation of antimony deposits.

Interpretation of the data and historical drilling has re-defined the exploration model for antimony, with 14 new targets identified and earmarked for evaluation through planned drilling.

Octava Minerals (ASX:OCT) reckons the targets display a structural regime analogous to that of the Discovery target, where historical drilling has uncovered 7m grading 3.27% antimony from 12m, including 1m at 11.5% from 18m and 3m at 6.83% antimony from 21m.

 

What the deal with antimony?

Antimony prices have more than doubled this year to over US$34,000/t following export restrictions out of China in August, likely in part to retain its leadership in producing inexpensive yet efficient solar panels.

The critical mineral is traditionally used to make flame-retardant materials, enamels, glass, pottery, and bullets but has come into its own with an increasing amount going into solar panels due to its ability to enhance transparency in the cover glass, allowing sunlight to be efficiently converted into electricity.

A forecast earlier this year by China Merchants Securities tipped antimony demand from the photovoltaic sector to increase from 16,000t in 2021 to 68,000t in 2026, with the industry’s share of total consumption jumping from 11% to 39%.

 

More potential hot spots along 10km corridor

“The new gravity data redefines the exploration model for high-grade antimony at Yallalong, explains its presence along the structural corridor and predicts potential hot spots along it,” OCT managing director Bevan Wakelam said.

“It is exciting to consider the possibility of a continuous system extending under cover for more than 10 kilometres and having a method to pinpoint the most prospective zones.

“Planning work is already underway for drilling of these new targets.”

 

What’s happening now?

OCT said the results significantly increase the prospectivity of the Yallalong antimony project.

Work is underway for the planning of drilling to test these new targets ahead of an exploration update next week.

 

 

This article was developed in collaboration with Octava Minerals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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