Octava results corroborate unique multi-metal potential of Byro black shale

Octava Minerals has confirmed historic lithium and rare earth grades and its Byro project’s potential to host a unique Australian operation.

Octava believes the Byro rocks have formed an enriched multi-metal sink. Pic: Getty Images

• Octava’s two metallurgical holes confirm historical rare earth and lithium hits from Byro project’s black shale

• Black shale rocks are known for hosting low-cost polymetallic deposits

• Gascoyne region in ascent as a future rare earth producer

Special Report: Octava Minerals has confirmed historic lithium and rare earth grades and its Byro project’s potential to host a unique battery and base metal operation in Western Australia’s Gascoyne region.

Assays from two Octava Minerals (ASX:OCT) metallurgical drill holes returned intercepts of rare earth, lithium, and vanadium of over 50m from surface which had been past intercepted in historical drilling across 30km of strike.

Grades came in up to 500ppm TREO with a 20% portion of the high-value magnetic suite, 375ppm lithium oxide, and 523ppm vanadium pentoxide.

The Permian black shales like those appearing in the Byro sub basin are well-known for the potential to host considerably large, if somewhat lower-graded, poly-metallic deposits offering the promise of large-scale, low-cost mining.

Black shale examples lie in nickel-copper-zinc heavy deposits running through northern Europe to those abundant in lead, zinc, nickel, molybdenum and vanadium ores across South China’s Yangtze Craton and REE’s, Li & Sc in Western Canada.

Octava believes those at Byro appeared to have formed a metal sink containing large volumes of anomalous rare earth, lithium, and base metals.

Byro drill core. Pic: OCT

Models seeking to explain the origin of spectacular metal concentrations in enriched shale have failed to provide all the answers of their origin, but it seems little matter when it comes to mining them.

“Octava is investigating the potential for Australia’s first, large scale, low-cost sedimentary basin deposit of REE’s, lithium and base metals,” managing director Bevan Wakelam said.

“Metal extraction from black shales is a proven, low-cost technology used in other operations around the world.

“We will commence initial metallurgical testwork to determine the viability of extracting these metals from the black shale at Byro.”

Metallurgical core drilling at the Byro REE project. Pic: OCT

Growing the Gascoyne

Sitting between eminent mining regions in the Murchison and Pilbara, what the Gascoyne lacks in mining history it makes up for in prospectivity.

Exploration history tends to become a bit spottier away from the Goldfields, and beyond its history of salt production, the region quickly became known for lithium and rare earth through the battery boom.

Hastings Technology Metals (ASX:HAS) and Andrew Forrest’s Wyloo Metals’ Yangibana project is the regional REE leader, with Hastings believing its next stage of development will usher a new area for both itself and the Gascoyne.

The development could prove quite advantageous to Octava, which now has about a year left to undertake due diligence and is set to advance with an initial characterisation study of the project before turning attention to beneficiation and extraction pathways.

This article was developed in collaboration with Octava Minerals, 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.

Originally published as Octava results corroborate unique multi-metal potential of Byro black shale