23 April 2025 – Osmond Resources Limited (ASX: OSM) has announced significant advancements at its Orion EU Critical Minerals Project in southern Spain, alongside strategic board changes.
Key Highlights
Project Development & Results
- High-grade critical minerals confirmed in bulk samples, including six of seven rare earth oxides (REOs) recently banned for export by China:
- Magnet rare earths (Nd₂O₃, Pr₆O₁₁) and heavy rare earths (Dy₂O₃, Tb₄O₇, Gd₂O₃, Sm₂O₃) at elevated concentrations.
- Titanium (rutile) and zirconium also identified as strategic materials for the EU.
- Metallurgical test work underway to optimize recovery of REOs and by-products, leveraging China’s export bans to position Orion as a future EU supply source.
- Path to 95% ownership secured via Iberian Critical Minerals’ acquisition of half the remaining third-party interest (5% convertible to a 2.5% royalty post-Scoping Study).
Strategic Importance
- Orion’s minerals align with EU Critical Raw Materials Act 2030 goals, targeting self-sufficiency in:
- Titanium metal and magnet REOs (2 of 17 strategic materials).
- Light/heavy REOs, hafnium (4 of 34 critical materials).
Board & Leadership
- Appointment of Mr. Lachlan Rutherford as Executive Director, bringing 25+ years of geology/mining expertise, including Spanish tungsten project management.
- Founding Chairman Mr. Rhod Grivas steps down post-IPO and project acquisition milestones.
Project Overview
Location: Jaén Province, Andalucía, Spain (86.4 km² across 288 mining units).
Target Minerals: Rutile (Ti), zircon (Zr), hafnium (Hf), and REEs (monazite, allanite).
Recent Work:
- 150kg bulk samples assayed by SGS Canada confirmed high-grade seams.
- Drilling planned to validate seam continuity ahead of Mineral Resource Estimate and Scoping Study (CY25).
CEO Commentary
Anthony Hall, Managing Director & CEO:
“With China’s export bans, Orion’s potential to supply EU-critical REEs—including magnetic rare earths—has heightened strategic value. We aim to fast-track development upon confirming seam continuity through drilling.”
Next Steps
- Complete metallurgical testing for REO recovery pathways.
- Commence drilling to define resource continuity.
- Advance Scoping Study and permitting.
Contact:
- Anthony Hall (MD & CEO): ahall@osmondresources.com.au | +61 417 466 039
- Elvis Jurcevic (IR): ej@osmondresources.com.au | +61 408 268 271
Competent Person Statement: Exploration results verified by Mr. Fernando Palero (EFG-registered geologist).
About Osmond Resources: ASX-listed (OSM) developer of EU-critical mineral projects, including Orion (Spain) and Iberian One (kaolinite/alunite).
ASX Announcement
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