DY6 Metals Accelerates Growth with Cameroon Expansion and Malawi Gallium Discovery

Strategic Expansion in Cameroon

DY6 Metals Ltd (ASX, DY6) has taken a major step forward in its critical metals exploration strategy with the acquisition of 100% ownership of 7,554 square kilometres of licences in Cameroon. This includes the Douala Basin and Central Rutile Projects, both highly prospective for rutile and heavy mineral sands (HMS). The Central Rutile Project alone now spans nearly 5,000 square kilometres, contiguous with Peak Minerals’ Minta Rutile Project, positioning DY6 in a promising geological corridor.

Since April, DY6 has been actively conducting reconnaissance sampling, identifying visible natural rutile from both alluvial and residual sources. Complementary soil sampling and auger drilling programs are underway, targeting higher-grade rutile mineralisation, with assay results anticipated by mid-August. The recent acquisition of the Weaver licences further consolidates DY6’s presence in this emerging rutile hub.

High-Grade Gallium Discovery in Malawi

In Malawi, DY6’s review of historical drill data at the Tundulu Rare Earth and Phosphate project has revealed significant high-grade gallium mineralisation from surface. Noteworthy intercepts include intervals exceeding 70 grams per tonne of gallium oxide, with some zones reaching over 300 grams per tonne. Importantly, only around 40% of the prospective area has been drill-tested, and gallium mineralisation remains open at depth, suggesting substantial upside potential.

Ongoing metallurgical testwork aims to assess the feasibility of producing separate rare earth and phosphate concentrates, a critical step toward defining the project’s commercial viability. This discovery adds a valuable dimension to DY6’s portfolio, complementing its rare earth and phosphate assets.

Corporate Developments and Capital Raising

DY6 has also strengthened its leadership team with the appointment of Daniel Smith as Executive Chairman and Cliff Fitzhenry as Chief Executive Officer, the latter bringing extensive rutile industry expertise. These changes underscore the company’s commitment to advancing its exploration programs efficiently.

Financially, DY6 secured firm commitments to raise A$4.625 million at $0.30 per share, led by Euroz Hartleys Limited and Evolution Capital Pty Ltd. The funds are earmarked to accelerate exploration activities in Cameroon’s Central Rutile and Douala Basin projects. At quarter-end, DY6 held approximately A$1.51 million in cash, with an estimated funding runway of over three quarters, providing a solid foundation for upcoming work.

Outlook and Market Positioning

DY6’s strategic acquisitions and exploration progress position it well within the critical metals sector, particularly in rutile and gallium markets, both essential for emerging technologies and industrial applications. The company’s methodical approach to exploration, combined with its recent capital injection and leadership appointments, suggest a focused drive toward resource definition and value creation.

Investors and industry watchers will be keenly awaiting the forthcoming assay results and metallurgical findings, which will provide clearer insights into the scale and quality of these newly acquired assets.