Octava Minerals’ rock chip sampling returns extremely high-grade indium at Sweeney’s

• Rock chip samples at Sweeney’s exceed 500ppm indium, breaking detection limits
• Sampling also delivered strong copper, zinc, silver, tin and antimony grades
• Octava gets drilling approval for 2000m program starting mid-November in Tasmania

Special Report: High-grade indium has been recorded in rock chip sampling at the Sweeney’s prospect within Octava Minerals’ Federation project in Tasmania as preparations get underway for drilling.

The extremely high grades exceeding 500ppm noted in the rock chips is hugely positive as the critical mineral is used in the production of semiconductors, solar panels, military equipment and other high-end technology applications.

Rock chips also returned high grades of copper (0.58%), zinc (27.5%), silver (434g/t), tin (5.97%) and antimony (0.92%).

This results come as Octava Minerals (ASX:OCT) received regulatory approval from Mineral Resources Tasmania for a 2000m diamond drilling program at the Sweeney’s prospect.

“We are extremely pleased to have received approvals to proceed with the diamond drilling program at Sweeney’s,” managing director Bevan Wakelam said.

“Preparation work for drilling is already underway and we plan to have the drill rig in place around mid-November.

“The recent rock chip assay results continue to confirm excellent grades and highlight the potential for significant polymetallic mineralisation, including indium, at the Sweeney’s prospect.

“Drilling will focus on the sulphide mineralisation previously intercepted down to 210m depth and remains open.”

Federation project

The Federation project is 12km west of the town of Zeehan in Western Tasmania and comprises two granted tenements covering about 121km2.

It is close to several mining centres with processing and infrastructure along with a number of hydro power stations.

OCT’s rock chips were collected from costeans located above the main adit.

Four of the samples returned extremely high >500ppm indium which exceeds the detection limit.

Further analysis will be conducted to determine final indium results.

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The upcoming drill program of up to 22 holes will focus on the semi massive sulphides that host feeder mineralisation, which remains open at depth at the Sweeney’s prospect.

Historical drilling intersected a steeply dipping, south-southeast plunging mineralised zone from about 70m to 210m in depth with mineralisation remaining open.

Drilling is expected to start in November.

Preparation work to carry out a ground-based electromagnetic geophysical survey over the Sweeney’s prospect area is also well advanced.

Semi-massive to massive sulphides at the Sweeneys’ feeder mineralisation located within resistive country rock and no conductive overburden is well suited to delineation with EM.

The EM survey is expected to commence shortly.

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.