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ASX: OD6 - OD6 Metals

Updated: 3 days ago

OD6 Metals: Ok so this is big – a rare earths discovery that goes for miles!

OD6 Metals MD Brett Hazelden on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report

Listen to ASX-listed OD6 Metals Managing Director Brett Hazelden talk to Matt Birney on the Bulls N’ Bears Report about OD6’s latest clay-based rare earths drill hits that show massive thicknesses and impressive grades.


OD6 Metals has two significant clay-based rare earths exploration projects near Esperance. Splinter Rock is about 150km north-east of Esperance and comprises six exploration licences spanning more than 2500 square kilometres and Grass Patch is around 100km north-west of Esperance covering more than 2200 sq km. The company recently nailed a lovely set of drill results in its latest campaign at Splinter Rock, a project that is now shaping up as globally significant in the rare earths world.


Matt Birney - Welcome to Bulls N' Bears brought to you today by rare earth explorer OD6 Metals

Matt Birney - ASX code: OD6

Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of OD6 Metals, Brett Hazelden.

Matt Birney - Hi Brett.

Brett Hazelden - Hey Matt, how are you?

Matt Birney - I'm well. Okay so OD6 Metals has two significant clay-based rare earths exploration projects near Esperance. Splinter Rock is about 150km north-east of Esperance and comprises six exploration licences spanning more than 2500 square kilometres.

Matt Birney - Grass Patch is around 100km north of Esperance covering more than 2200 sq km. The company recently nailed a lovely set of drill results in its latest campaign at Splinter Rock, a project that is now shaping up potentially as a globally significant one in the rare earths world.

Matt Birney - Okay Brett let's get straight into it. What were the best of the latest drill results at Splinter Rock near Esperance?

Brett Hazelden - Yeah so we had 74 holes out of 83 holes hitting really good grades and three of the best ones were 69 meters at over 14 hundred parts per million total rare earth oxides. Another one was 66 meters at 1,500 and another one 55 meters at 1,700 total rare earth oxide. So fantastic numbers from our point of view.

Matt Birney - How deep? Where are they starting from?

Brett Hazelden - Really shallow so 15 meters from surface so low stripping ratios is what we're looking for so it's going to be 0.3 to 1 at the moment, they're really close to surface and obviously a big thick intersection.

Matt Birney - In my sense is they're not bad grade. Where there any higher-grade hits in that campaign?

Brett Hazelden - Yeah within those areas, I mean, we get three-metre intersections up to 6 thousand parts per million total rare earths as well. They're really quite extensive in some of those areas but really what we're looking for is massive 70-metre sections at 1500 PPM would be fantastic.

Matt Birney - Yeah well let's talk grade, how do those grades stack up against your peers generally in the rare earths space?

Brett Hazelden - A lot of the benchmarks floating around are sort of about 800 parts million TREO.  

Brett Hazelden - That's where people are doing their studies at the moment both in Australia and overseas, Uganda for example so us being on average 1,200 to 1,500 and bought our main deposits all the prospects we're sort of 50 per cent higher than the best really at the moment.

Matt Birney - Are you getting a sense of scale from this project now?  How much ground is the mineralisation covering?

Brett Hazelden - So the mineralisation, we've got four main prospects all rugby names Flanker, Center, Prop and Scrum. So Scrum being probably the biggest area is covering about 130 square kilometres.

Brett Hazelden - To get your head around that that's about five kilometres in width by 27 kilometres in length so massive scale from that point of view and if you've got 50 to 60 meters worth of intersections you're talking billions of tonnes of clay so, what we're now looking for is just the best of the best.

Matt Birney - What about magnet rare earths that are used in electric vehicles? Are you seeing any of them in there and how's the metallurgy stacking up? Just quickly.

Brett Hazelden - The magnet rare earths, 22 per cent which is really high for the industry as well and that's the neodymium, praseodymium and dysprosium and terbium so they're the four main ones and that's where the money is so we're seeing really good levels of that and from metallurgy, we pulled out some metallurgy results about two weeks ago.

Brett Hazelden - 60 to 70 per cent recoveries which is again sort of probably industry-leading at the moment and really happy with the result they all go together, both in terms of head grades and recoveries.

Matt Birney - Brett Hazelden from OD6 Metals.

Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information not advice which you should of course seek independently.

Matt Birney - I'm Matt Birney and this is Bulls N' Bears.

Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab


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