Octava Minerals ignites indium hunt with 860ppm hit at Sweeney’s

• Octava Minerals verifies 860ppm indium in rock chip re-assays from old workings at Sweeney prospect
• A diamond drill rig is currently re-mobilising to site
• An EM survey has highlighted strong conductance and continuity

Special Report: Octava Minerals has lit the fuse at its Federation project in Tasmania, confirming indium results of up to 860ppm in re-assays of rock chips from historical workings at the Sweeney’s prospect.

It’s an impressive grade for a critical mineral rapidly becoming one of the most coveted elements in the clean energy and semiconductor supply chain given its low melting point, corrosion resistance and strong electrical and thermal properties.

Like many others, it has come under attack from China’s imposed export controls earlier this year with the Middle Kingdom accounting for 70% of refined indium output in 2024.

The timing of Octava’s (ASX:OCT) results couldn’t be better.

Adding fuel to the excitement, a recent FLEM geophysical survey has delivered strong conductance in host rock where EM has not been previously used, indicating good connectivity between the sulphide minerals.

Adding another chapter to Federation story

OCT managing director Bevan Wakelam said the company looked forward to progressing the first drill campaign at Sweeney’s since Renison back in the late 1970s.

“The results from the re-assay of grab samples for indium are extremely encouraging and confirm the multi-element value of the mineralisation at Sweeney’s,” he said.

“We have had a great outcome with our EM survey at Sweeney’s, which is an excellent direct detection tool for identifying conductive sulphide bodies.

“The survey has shown a strong conductive response indicating good connectivity between the sulphide minerals.

“This survey result only builds on the exploration story that has been growing at the Sweeney’s prospect.”

Watch: Bevan Wakelam joins Stockhead TV

Upcoming exploration

Octava’s Federation asset is 12km west of Zeehan in western Tasmania and consists of two granted tenements covering 112km2.

It’s close to several mining centres with processing and infrastructure, as well as a number of hydro power stations.

With momentum building, the diamond drill rig is mobilising back to Sweeney’s where each drill hole will be cased, allowing for downhole EM work once drilling wraps up.

At the same time, the team has started planning for a major airborne EM survey scheduled for early 2026 which will sweep across the Federation project area.

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.