Osmond Resources ramps up drilling at EU critical minerals project

• Orión project drilling continues with five drill holes completed and two in progress
• All drill holes intersected the prospective Pochico Formation quartzites
• Fast tracked assay results expected in coming week

Special Report: Osmond Resources has drilled a total of five holes for 1302.2m with two more in progress at its Orión EU critical minerals project in Spain.

Osmond Resources (ASX:OSM) is targeting primary high-grade rutile, zircon and monazite layers – hosting valuable and strategic rare earth elements – that it believes will be prevalent in all three zones.

Zircon is used in the ceramics industry to make tiles while its high melting point and corrosion resistance makes it useful for foundry moulds, refractory bricks and molten metal moulds.

All drill holes to date have intersected quartzite layers of the Pochico Formation which are considered highly prospective for heavy minerals, including rutile (titanium), ilmenite (titanium), zircon (zirconium) and monazite (rare earth elements).

Initial assays from drill hole AV-01 which were fast-tracked for analysis have also been received, with the final results of elements that exceeded detection limits of standard assaying procedures pending.

Assays are expected to be reported in the coming week.

Listen: Osmond eyes world-class critical minerals potential

Fast-tracking development activities

Upon completion of a scoping study the company will control an 80% interest in 95% of the project, which includes 756 Spanish mining units (cuadrículas mineras) covering an area of 228km2.

The company is looking to fast-track development activities with initial drilling to confirm continuity and grade of the mineralised layers, a resource estimate, scoping study activities and confirmation of a flow sheet all expected to be completed in H1 CY26 to take advantage of strong EU regulatory support for in-sourcing production of critical minerals.

The EU wants 10% of its annual consumption of critical raw materials coming from domestic extraction, putting a premium on discoveries Osmond makes at Orión.

Permitting for projects that fit the bill is legislated to run for no longer than 27 months, a far sight quicker than most projects around the world.

Osmond Resources is confident its project could provide the European Union with a quick fix for its critical minerals needs, and like the rest of the non-China world, the EU is determined to build out its own supply chain.

Titanium, rare earths, zircon and all on the EU strategic/critical minerals lists, opening up the potential for Orión to be in line for the same sort of government support critical minerals projects have been receiving in the US.

This article was developed in collaboration with Osmond Resources, 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.