Octava Minerals Unveils High-Grade Indium and Polymetallic Targets in Tasmania Drill Push

Discovery Highlights

Octava Minerals Ltd (ASX – OCT) has reported strikingly high-grade indium results from recent rock chip sampling at the Sweeney’s Prospect, part of its Federation Project in Western Tasmania. Indium, a critical mineral essential for technologies such as semiconductors, solar panels, and military equipment, was detected at concentrations exceeding 500 parts per million in multiple samples. Alongside indium, significant grades of copper, zinc, silver, tin, and antimony were also identified, underscoring the polymetallic nature of the mineralisation.

Strategic Location and Project Overview

The Federation Project is strategically situated just 12 kilometres west of Zeehan, a historic mining hub with existing infrastructure and hydroelectric power stations nearby. Covering approximately 121 square kilometres across two granted exploration licences, the project targets greisen-style tin and sulphide-rich mineralisation hosted within Devonian granite. This geological setting is known for hosting steeply dipping, polymetallic sulphide deposits, which Octava aims to delineate further through upcoming drilling.

Upcoming Drilling and Exploration Plans

Following receipt of regulatory approval from Mineral Resources Tasmania, Octava is preparing to commence a 2000-metre diamond drilling program at Sweeney’s Prospect. The program, expected to begin mid-November, will focus on semi-massive to massive sulphide mineralisation previously intercepted down to 210 metres depth. Historic drilling has revealed a steeply dipping mineralised zone containing pyrite, pyrrhotite, stannite, sphalerite, and cassiterite, with mineralisation remaining open at depth.

Complementing the drilling, a ground-based electromagnetic (EM) geophysical survey is slated to start imminently. This survey aims to map conductive sulphide bodies within the resistive host rock, a technique well-suited to identifying extensions of the mineralised zones. Notably, no modern geophysical surveys have been conducted previously at Sweeney’s, making this a critical step in refining drill targets.

Implications for Critical Minerals Supply

Indium’s role as a critical mineral in high-tech applications places Octava’s discovery in a broader strategic context. With global demand for indium and other critical metals rising, especially for clean energy and electronics, the Federation Project’s polymetallic potential could position Octava as a significant player in the supply chain. The presence of tin, silver, and antimony further enhances the project’s value proposition, offering multiple avenues for resource development.

Looking Ahead

Octava’s Managing Director Bevan Wakelam expressed optimism about the drilling campaign, highlighting the excellent grades from rock chip assays and the prospect of delineating a substantial polymetallic deposit. As preparations advance, investors and industry watchers will be keenly awaiting drilling results and geophysical survey data, which will provide critical insights into the scale and economic viability of the mineralisation.