Odessa Minerals has revealed promising rare earth and lithium assay results from its Lockier Range Project in WA, highlighting potential carbonatite-hosted REE mineralisation at Mt Yaragner and fertile lithium pegmatites at the Southern Pegmatite Field.
- Mt Yaragner rock chips show up to 1,098ppm combined La, Ce, Y
- Southern Pegmatite Field samples hit 1,911ppm Li2O
- Geochemical signatures support carbonatite-hosted REE system
- Further sampling and drilling planned to refine targets
- Well-funded after recent $2.65 million capital raise
Strong Geochemical Signals at Mt Yaragner Highlight Rare Earth Potential
Odessa Minerals (ASX:ODE) has confirmed significant pathfinder element anomalies at its Mt Yaragner target within the Lockier Range Project in Western Australia’s Gascoyne region. Rock chip sampling across a 5km by 2km soil anomaly revealed combined lanthanum, cerium, and yttrium (La + Ce + Y) values reaching up to 1,098ppm, alongside elevated iron, phosphorous, barium, and strontium levels. These geochemical hallmarks are consistent with ironstone caps overlaying a potential carbonatite source, a classic host for rare earth element (REE) mineralisation.
The project’s geological setting mirrors that of the nearby Hastings Minerals (ASX:HAS) Yangibana REE deposit, underscoring the regional prospectivity for carbonatite-related REE systems. Odessa’s recent sampling program expanded coverage and reinforced the scale and continuity of the mineralised system, providing a compelling case for targeted drill testing to explore these anomalies at depth.
Lithium Prospects Emerge at Southern Pegmatite Field
In parallel, exploration at the Southern Pegmatite Field uncovered lithium-bearing pegmatites with rock chip assays peaking at 1,911ppm Li2O. The area hosts a 2.5km by 1km soil anomaly rich in niobium, tantalum, tin, rubidium, and beryllium, indicating an evolved and fractionated intrusive system. Alongside lithium, elevated total rare earth oxides plus yttrium (TREO+Y) assays up to 3,499ppm were recorded, including a standout sample containing 22% neodymium and praseodymium (Nd+Pr), critical components for permanent magnets.
These findings highlight the multi-commodity potential of the pegmatite corridor, suggesting a fertile system that warrants further exploration to delineate higher-grade zones and assess mineralisation continuity.
Next Steps and Strategic Positioning
Odessa plans comprehensive multi-element REE analysis on anomalous samples to better define the total rare earth oxide distribution and refine geochemical signatures. Additional rock chip sampling will target the full extent of ironstone bodies to improve spatial coverage and identify zones of higher tenor. Concurrently, ongoing lithium sampling aims to map the pegmatite system’s fertility more precisely.
These efforts will feed into a project-wide targeting framework, advancing both carbonatite and pegmatite mineralisation toward drill-ready status. The company’s strong financial position, bolstered by a recent $2.65 million placement, provides the runway for sustained exploration and active pursuit of new project acquisitions, both domestically and internationally.
Chairman Tim Goldsmith emphasised the significance of these results, noting they support Odessa’s strategy to identify a major carbonatite-hosted rare earth system and enhance confidence in the project’s scale and continuity. As Odessa advances low-cost exploration at Lockier Range, it remains vigilant for value-accretive acquisition opportunities.
Bottom Line?
Odessa’s compelling geochemical results at Lockier Range set the stage for drill testing that could unlock significant rare earth and lithium resources.
Questions in the middle?
- Will follow-up drilling at Mt Yaragner confirm the extent of carbonatite-hosted REE mineralisation?
- How continuous and economically viable are the lithium-bearing pegmatites at Southern Pegmatite Field?
- What new project acquisitions might Odessa pursue to complement its Lockier Range exploration?