Oceana Lithium

Quarterly Activities Report for the Period Ended 30 September 2023

Oceana Lithium Limited (ASX: OCN, “Oceana” or “Company”) is pleased to present its activities report for the September 2023 quarter.


Highlights

Solonópole Project, Ceará, Brazil

  • 2,000 metres of shallow RC scout drilling completed at the Bom Jesus de Baixo (BJdB) and Soledade West prospects. Individual pegmatite intercepts of up to 37m wide and combined intercepts of up to 46m1 (refer ASX announcement 7 August 2023). All pegmatites intercepted remain open along strike and down dip. Assay results are pending.
  • The large-scale infill soil sampling and trenching program commenced in March 2023 continued, covering mapped pegmatites and artisanal workings designed to cut across all typical pegmatite strike directions in this area. As of 30 September 2023, about 6,000 soil samples were collected by Oceana with results pending.

Monaro Project, Québec, Canada

  • Option acquired over a 100% interest in the Monaro Project located in James Bay, Québec.
  • Field exploration due diligence program commenced in September after delays caused by extensive wildfires.
  • High priority targets identified which include two reported Québec Government SIGÉOM pegmatites; some 114 large linear structures with surface signs of pale outcrop, some up to 1.25 km in length identified from high resolution satellite imagery, as well as 26 spectral targets selected from Sentinel 2 remote sensing data.

Napperby Project, Northern Territory, Australia

  • A review of data from a Hyperspectral survey conducted by the Company has confirmed previously mapped pegmatite outcrops with reasonable accuracy and revealed several potential new major pegmatite dykes previously unmapped by other explorers.

Corporate

  • Mr Caue Araujo, a highly experienced geologist and mining industry professional, appointed as CEO.
  • $4.1m raised through strongly supported placement at $0.32 per share
  • The Company remains well-funded with cash at 30 September 2023 of ~$4.7m.
OPERATIONS

Solonópole Project, Brazil

The Solonópole Project area is located in the state of Ceará, north-eastern Brazil and consists of ten (10) exploration permits covering approximately 124km2 (Figure 1), owned by Oceana’s subsidiary Ceará Litio. The project is approximately three hours by road from the state capital Fortaleza and deep-water Port of Pecém and is well serviced by sealed highways and high voltage electricity.

Figure 1: Solonópole Project permits and targets drilled May – July 2023 (red dots)

A 2,000 metre RC scout drilling program comprising 30 mostly shallow holes up to 60m in depth commenced in May 2023 was completed in July 2023. The initial focus was at the Bom Jesus de Baixo Prospect (“BJdB”) at the BJdB Pit area, where high-grade spodumene Lithium mineralisation has been identified, then eastwards over the other two identified pegmatite outcrops at BJdB Central and BJdB East. These three linear outcrops lie over a combined east-west strike length of over 500m. This first phase of scout drilling was planned on a 20m x 20m grid to assist in determining the actual pegmatite dimensions and dip at each location, as well as its Lithium grade and mineralogy.

A progress report on the first 14 RC holes covering 1,035 metres of this first phase of drilling was reported by Oceana on 21 June 2023. Drilling confirmed the presence of thick pegmatites in three different outcropping areas (BJdB Pit, BJdB Central and BJdB East), aligned along strike and dipping north. All pegmatites intercepted remain open along strike and down dip, with provisional logging results suggesting they are part of a stacked pegmatite system.


Click here for the full ASX Release

This article includes content from Oceana Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

OCN:AU
The Conversation (0)
Digital hexagons overlay construction site with an excavator and cloudy sky in the background.

Ekin Ober on Why AI Could Be Mining’s Most Valuable Tool Yet

For Ekin Ober, bringing generative artificial intelligence (AI) to the critical metals sector through her work at Aethos Labs wasn’t just about technological innovation — it reshaped how she thinks about strategy and sustainability in mining.

Now a principal at Kinterra Capital, Ober applies that broad, cross-disciplinary lens to investment decisions, emphasizing the importance of digital fluency, stakeholder alignment and long-term viability.

Her experience helps her identify operational bottlenecks and social license challenges early — essential in guiding assets like nickel and copper projects from concept to production.

Keep reading...Show less
Stacks of US$100 bills with upward-pointing wooden arrows.

Chris Berry: The West Must Invest in Refinement Now or Fall Further Behind

China’s grip on the battery metals sector has drawn increasing scrutiny in recent years as nations confront growing concerns around supply chain risk and resource security.

Through a blend of domestic output and aggressive overseas investment, particularly in Africa and South America, Chinese companies now command a significant share of upstream supply.

The country is responsible for roughly 60 percent of global rare earths production and controls over 70 percent of cobalt supply through its stakes in mines across the Democratic Republic of Congo.

Keep reading...Show less
Magnifying glass focusing on the Albemarle website logo.

Albemarle's Commitment to Sustainability Shines in New Report

As global demand for critical minerals intensifies, Albemarle (NYSE:ALB) continues to position itself as a global leader not only in lithium production but also in sustainable practices.

In its newly released 2024 sustainability report, titled “Values-Led, Purpose-Driven,” the company underscores its commitment to reducing its environmental footprint across six continents, supporting global supply chains and promoting human rights across operations.

From cutting freshwater intensity at its Chilean operations by 28 percent to procuring 24 percent of its electricity from renewable sources, Albemarle is striving to grow its energy storage business while keeping carbon emissions flat, as it translates ESG goals into action.

Keep reading...Show less
Metallic battery with a world map etched on it, against a dark background.

3 Key Themes from Fastmarkets' 2025 Lithium Supply & Battery Raw Materials Event

Market volatility, Chinese control, supply chain risk mitigation and financing emerged as some of the most prevalent themes at the 2025 Fastmarket’s Lithium Supply Battery Raw Materials (LBRM) conference in Las Vegas.

The event, which is in its 17th year, drew a crowd of roughly 1000 delegates, industry experts and analysts, to discuss the current landscape and future projections of the battery materials sector.

During his opening remarks, Fastmarkets CEO Raju Daswani highlighted the growth and maturation the battery raw materials sector has experienced.

Keep reading...Show less
Metals Australia (ASX:MLS)

Metals Australia


Keep reading...Show less

Latest Press Releases

Related News

×