Osmond pivots to Spain developing ‘world class’ critical minerals deposit

Initial field work produced the sort of results Osmond had hoped for, and the company later claimed it had uncovered the potential first-tier play of European heavy minerals.

This claim was supported by three 50-kilogram bulk samples from Orion that graded between 28 and 31 percent of total heavy minerals (THMs); Rutile dominated at 13 to 15 percent (almost half of the total THM content) and zircon contributed roughly 30 percent, graded at 8.4 to 9.4 percent. An impressive hafnium credit of up to 1,295 parts per million was also recorded.

Hafnium is one of those rare critical materials that most people have never heard of, but it is widely used in nuclear reactor control rods, semiconductors, and aerospace alloys, all of which are in high demand.

Orion also offered some interesting rare earth results that added even more spice; The NdPr-bearing monazite gradation runs at 1.5 to 1.7 percent monazite and 1.1 to 1.2 percent total rare earth oxides, with a predominance suite of neodymium, praseodymium, dysprosium and terbium—all essential for magnets in electric vehicles, wind turbines, robotics and drones.

Looking at these figures, Osmond appears to have an extraordinarily rich and rare reserve loaded with world-class rutile and zircon, among other truly rare critical minerals. As a point of reference, Orion’s THM ratings place it close to Iluka’s world-class Balranald resource at 33.7 per cent and well above other frequently cited reference deposits, including those operated by global producer Sierra Rutile and LSE-listed Kenmare Resources; both are generally below 5 percent THM. Its mineral mix and quality profile place Orion among the best in the world, with the potential to support premium pricing if developed.

Osmond is now putting his foot down and brought in rigs last week for an initial 15-hole program targeting multiple mineral-rich veins in at least three areas that have been mapped and bulk sampled. The company said that the results will form the backbone of resource modeling and the eagerly awaited analyzes will be made by the end of the month.

So far, geologists have identified five veins in the area labeled by the company as Zone 3, and three in Zones 1 and 2. It is noteworthy that the mineralized outcrops extend over an area of ​​more than 12 kilometers. In addition, high scintillometer readings over the wider area indicate that mineralization may extend as far as 25 kilometers from current targets. The scale is almost Bible-like.

Osmond had already drilled holes into the ground that immediately intersected a 3.4 meter section of the 108 meter deep petrified vein. Analyzes are continuing rapidly and results are expected to be received by the end of the month.

With an eye toward the future, the company has also begun to scope out processing options and potential end users; One obvious candidate is the 150-year-old European chemical company Solvay’s French factory, which aims to meet 30 percent of the EU’s magnet demand by 2030 and would be a natural potential customer. Osmond is also considering the possibility of setting up a processing plant in Spain, considering EU support to strengthen local supply chains.

Orion fits perfectly with Europe’s geopolitical and industrial priorities. Under the Critical Raw Materials Act, the EU has set its 2030 targets as 10 percent extracted domestically, 40 percent processed, 25 percent recycled and 65 percent dependent on any non-EU source.

For now, Osmond appears to be in the right place, at the right time, with its full mineral mix. The EU’s defense budgets follow a sharp trend in the north; currently rising from about 1.3 percent of GDP in 2023 to 2.1 percent in 2025; Demand for the kind of strategic materials Osmond appears to be underfoot is intensifying. China’s export restrictions on dysprosium and terbium have only increased the urgency of demand.

Located in the heart of the EU, with a rare and lucrative mix of mineral assets that can fuel such global demand, Osmond looks perfectly positioned to have a seat at a very lucrative table.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au