OD6 Secures Option for Nevada Fluorspar Project with Grades up to 94% CaF2

Strategic Acquisition in a Critical Mineral

OD6 Metals Limited has announced an exclusive option agreement to acquire the Quinn Fluorspar Project, a district-scale cluster of historic high-grade fluorspar deposits in Nevada, USA. This acquisition marks a strategic expansion of OD6's portfolio into a mineral deemed critical by the US government, which currently relies entirely on imports for fluorspar supply.

Fluorspar, or calcium fluoride (CaF2), is essential in manufacturing advanced microprocessor chips, aerospace materials, nuclear fuel processing, and defence technologies. The Quinn Project's deposits boast exceptional grades, with historic surface samples reaching up to 94% CaF2, and extensive mineralised zones remain largely untested by modern drilling.

Historic Riches with Modern Potential

The Quinn Fluorspar Project comprises 48 mining claims approximately 220 kilometres north of Las Vegas, within a highly prospective epithermal district. Historic mining at the Horseshoe Prospect produced around 26,000 tonnes of fluorspar ore with an average grade near 45% CaF2. Other prospects like Mammoth and Big Jim have reported surface samples with grades as high as 80% and 94% CaF2 respectively, yet no modern drilling has been conducted to define resources or test depth extensions.

OD6 plans to undertake systematic surface sampling, geological mapping, and geophysical surveys as part of its due diligence, aiming to verify historic data and define JORC-compliant resources. The company highlights the project's excellent infrastructure access and Nevada's status as the world's top mining jurisdiction, which bodes well for permitting and development.

Structured Deal and Capital Support

The acquisition terms include a modest upfront option payment of A$75,000, with subsequent milestone-based payments totaling A$3.8 million in cash and shares, contingent on drilling approvals, resource declarations, feasibility studies, and commercial production. Additionally, the sellers will receive royalties of 2% net smelter return on fluorspar and 1% on other minerals.

To support the acquisition and exploration activities, OD6 has secured firm commitments for a $3.4 million two-tranche placement, attracting institutional and high-net-worth investors, including participation from company directors. These funds will also support ongoing work at OD6's existing rare earth and copper projects, reinforcing the company's diversified critical minerals strategy.

Complementing a Growing Critical Minerals Portfolio

This acquisition complements OD6's established assets, including the Splinter Rock Rare Earth Project in Western Australia and the Gulf Creek Copper-Zinc Project in New South Wales. Together, these projects position OD6 as a multi-commodity critical minerals player targeting supply chains vital to emerging technologies and national security.

Managing Director Brett Hazelden emphasised the strategic importance of domestic fluorspar supply for the US, noting the opportunity to unlock value rapidly through modern exploration techniques on a historically significant but underexplored project.