Indium Hits 860ppm at Sweeney’s as Octava Mobilises Diamond Drill Rig

• High-grade indium confirmed up to 860ppm in rock chip re-assays
• Diamond drill rig mobilising to Sweeney’s for first drilling since 1970s
• Fixed Loop Electromagnetic (FLEM) survey reveals strong sulphide conductance
• Plans underway for downhole and airborne EM surveys to expand exploration
• Federation Project covers 121 km2 near Zeehan, Tasmania with solid tenure

Exploration Breakthrough at Sweeney’s

Octava Minerals Ltd (ASX – OCT) has announced a significant advancement in its Federation Project exploration in Western Tasmania, confirming high-grade indium mineralisation at the Sweeney’s prospect. Re-assays of historic rock chip samples have returned indium grades as high as 860 parts per million (ppm), underscoring the multi-element potential of this polymetallic site.

Indium, a critical mineral widely used in electronics, renewable energy, and advanced technologies, is a strategic commodity with growing demand. The grades reported by Octava place Sweeney’s as a compelling target within the broader Federation Project, which also hosts copper, zinc, silver, tin, and antimony mineralisation.

Geophysical Survey Validates Sulphide Mineralisation

Supporting these assay results, a Fixed Loop Electromagnetic (FLEM) survey conducted by Australian Geophysical Surveys has detected strong conductance associated with sulphide-rich mineralisation at Sweeney’s. This is a notable development, as the mineralisation occurs within a non-conductive granite host rock, making direct detection challenging.

The survey’s strong mid- to late-time EM responses indicate good connectivity between sulphide minerals, providing a robust geophysical signature to guide upcoming drilling. This marks the first time EM techniques have been successfully applied at Sweeney’s, offering a new tool to delineate the mineralised zones.

Drilling Campaign to Restart After Decades

Octava’s Managing Director, Bevan Wakelam, confirmed that the diamond drill rig is currently being mobilised to site, initiating the first drilling campaign at Sweeney’s since the late 1970s. This drilling will test the sulphide mineralisation identified by the EM survey and historic data, with drillholes planned to be cased for subsequent downhole EM surveys to detect off-hole conductors up to 150 metres away.

The Federation Project spans approximately 121 square kilometres near Zeehan, Tasmania, and benefits from proximity to established mining infrastructure and hydroelectric power. Octava holds 100% ownership of the granted exploration licences, which remain in good standing.

Looking Ahead – Expanding Exploration Horizons

Beyond the immediate drilling, Octava is planning an airborne EM survey in early 2026 to further explore the Federation Project for additional sulphide mineralisation targets. This layered approach combining ground and airborne geophysics with drilling aims to build a comprehensive understanding of the mineral systems present.

Financially, the company is well positioned with over $2 million in cash following a recent capital raise, ensuring sufficient funding to advance its exploration programs.

Bottom Line?

As drilling resumes at Sweeney’s, Octava Minerals stands poised to unlock critical mineral potential that could reshape its Federation Project’s prospects.

Questions in the middle?

• What will the initial diamond drilling results reveal about the extent and grade continuity of indium and base metals?
• How will the planned airborne EM survey influence the exploration strategy and target prioritisation?
• What are the potential timelines and pathways for resource definition and development at Sweeney’s?