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Octava Minerals Limited (ASX:OCT)

ALERT: Price-sensitive ASX Announcement for OCT
Current share price for OCT : $0.028 -0.034 (-54.84%)+
Announcement
Release
9 Oct 2025 8:26AM
Price at Release
$0.062
Full Release
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Summary
Octava Minerals Limited (ASX:OCT) announced the commencement of an exploration drilling program at the Byro Critical Minerals Project located in the Gascoyne Region of Western Australia. The project is focused on extracting rare earth elements (REE) and lithium, leveraging successful bioleaching testwork that demonstrated excellent recoveries using lab-grown microbes. The drill program will cover an area of 10km by 8km and target the Coyrie Formation, aiming to establish a maiden resource. Historical explorations and recent studies indicate the potential for significant in-situ tonnages of critical minerals. The program is planned to drill 18 aircore holes to a depth of approximately 55 meters, in a 2km by 2km grid, and is expected to offer insights into the project's resource potential.
Key Points
  • Exploration drilling to commence at Byro Critical Minerals Project.
  • Targeting a maiden resource for rare earth elements and lithium.
  • Drilling will cover an area of 10km x 8km to a depth of 55m.
  • Coyrie Formation is the main target due to enhanced grades in past explorations.
  • Successful bioleaching testwork indicated potential for large heap leach operation.
  • Drill program follows historical exploration showing potential for significant tonnages.
  • Project located in the Gascoyne Region, Western Australia with strategic infrastructure access.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.