Odessa Minerals (ASX:ODE)

Quarterly Report – Activities for Quarter Ended 30 June 2024

Odessa Minerals Limited (ASX:ODE) (“Odessa” or the “Company”) is pleased to report on its activities for the quarter ending 30 June 2024 (the “Quarter”).

HIGHLIGHTS:

Relief Well Uranium Project (Lyndon):

  • Relief Well Uranium Prospect immediately adjoins Paladin Energy’s Carley Bore Uranium Project
  • (15.6MLbs U3O8 announced resource)
  • Extensive 8km long palaeochannel confirmed at Relief Well, prospective for roll-front style uranium mineralisation
  • Drill planning underway for testing of roll-front uranium mineralisation at Relief Well
  • Unconformity-Type and fault-related uranium mineralisation potential along the Gneuda Formation- Moorarie Supersuite contact.

Lyndon Uranium/Lithium/REE

  • New Rock chip assay results up to 6,612ppm U3O8 at the Baltic Bore and Jailor Bore prospects
  • 12 rock chips returned assays >1,000ppm U3O8
  • 5 rock chips returned assays >1,000ppm V2O5
  • Uranium anomalism spans strike lengths of 2.6km at Baltic Bore and 2km at Jailor Bore
  • Lyndon Project Immediately adjoins Paladin Energy’s Carley Bore Uranium Project (15.6MLbs U3O8)

Gascoyne East:

  • Completion of lithological and structural interpretation from geophysical datasets
  • PoW approval for Phase 1 aircore drilling to assist bedrock mapping
  • Geophysical interpretation has confirmed drill targets for:
    • Intrusion-related porphyry and Iron Oxide Copper-Gold (IOCG) mineralisation
    • Magmatic Ni-Cu-PGE mineralisation within a distinct layered mafic intrusion
    • Orogenic and intrusion-related gold mineralisation within the Dalgaringa Supersuite and Camel Hills Metamorphics.
    • Intrusion-related gold and base metal deposits within the Edmund Basin
    • Sedimentary-hosted base metal deposits in the Edmund Basin analogous to the Abra deposit
  • At-surface uranium targets identified through airborne radiometric survey data

Odessa’s Executive Director, David Lenigas, commented:

“This has been a Quarter to prepare for drilling in the Gascoyne. We have identified some very significant uranium targets, and we aim to drill this Quarter. We have high grade calcrete uranium targets and substantial roll-front uranium targets set up to drill. Our drill contractor has been chosen and we are finalising some heritage surveys at Lyndon before we mobilise the drill rigs to Gascoyne East and Lyndon. We will advise of the planned metres of the various types of drilling we plan to do, closer to the drill rigs being mobilised. This should be an exciting Quarter for shareholders and the board looks forward to elaborating on the drilling as it moves to proceed shortly.”


Click here for the full ASX Release

This article includes content from Odessa Minerals, 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.

ODE:AU
The Conversation (0)
Thor Energy (ASX:THR)

Term Sheet to Treat Colorado Project Uranium Waste Dumps and Gross Revenue Sharing Agreement with DISA Technologies

Pathway for Thor Energy PLC to potentially generate revenue from US Uranium and Critical Minerals Production

Thor Energy plc ("Thor") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a term sheet ("Term Sheet") with DISA Technologies, Inc. ("DISA") to seek to evaluate and if successful, treat historically abandoned uranium mine waste dumps ("Waste") and recover saleable uranium and other critical minerals concentrates at Thor's Colorado uranium claims. Thor holds 25% ownership rights to uranium minerals on U.S. Bureau of Land Management ("BLM") via its US subsidiary Standard Minerals Inc. ("Standard") that holds the projects (the "Colorado Projects") in Colorado in the United States, along with the 75% holder, London-listed Metals One PLC (AIM: Met1).

Keep reading...Show less
Saga Metals (TSXV:SAGA)

Saga Metals


Keep reading...Show less
Swedish flag with a yellow cross on a blue background, waving in the clear sky.

Sweden Moves to Lift Uranium Mining Ban Through Legislative Proposal

Sweden has announced plans to lift its seven-year ban on uranium mining, with a proposal to amend the Environmental Code and Minerals Act expected in parliament later this year. If approved, the changes would take effect on January 1, 2026.

The proposal follows the conclusions of a government inquiry completed in December 2024, which recommended that uranium be treated under the same legal framework as other concession minerals.

That recommendation was reviewed by the Council on Legislation in June 2025, clearing the way for parliament to consider a repeal.

Keep reading...Show less
Basin Energy Managing Director Pete Moorhouse.

Basin Energy Shifts Focus to Uranium Assets with District-scale Potential in Queensland

Basin Energy’s (ASX:BSN) recent acquisition of a significant landholding in the Mount Isa region of Northwest Queensland has propelled the company into Australia's uranium and rare earths exploration landscape, giving investors exposure to a cost-effective, district-scale opportunity, according to the company’s managing director, Pete Moorhouse.

“The Queensland opportunity provides direct exposure for district-scale wins from first-pass drilling with reverse circulation and aircore, so this is relatively cheap drilling on district-scale opportunities. Northwest Queensland, from the jurisdiction (perspective), is a real prime opportunity for critical minerals,” said Moorhouse.

The Basin Energy executive also noted that there are significant government initiatives in place at both the federal and state level to support the region’s growth, as well as recent M&A activity in the uranium space.

Keep reading...Show less
Basin Energy Logo

Basin Energy


Keep reading...Show less
Nuclear reactors with upward trending graph overlay.

Cameco, Kazatomprom Production Cuts Stoke Uranium Market Tightness

Shares of Cameco (TSX:CCO,NYSE:CCJ) were on the rise after the uranium major announced it is reducing its annual production guidance due to expansion delays at the McArthur mine in Saskatchewan, Canada.

Instead of the projected 18 million pounds of U3O8 the company was aiming for from its McArthur River joint venture with Orano, the revised output tally reduces 2025’s production total to between 14 million and 15 million pounds.

In January, Cameco warned that delays at McArthur River — including slower-than-expected ground freezing, development setbacks and labor constraints — could affect its 2025 production outlook.

Keep reading...Show less

Latest Press Releases

Related News

×