Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals antimony, REE’s, Lithium and gold, is pleased to report that exploration drilling at its 100% owned Yallalong antimony project in the mid-west of Western Australia is on track and progressing as expected. In addition, the planned two metallurgical core drill holes are now complete, with samples on their way to Perth to undergo testwork in coming months.

Highlights

• Exploration drilling at the Yallalong antimony project in the mid-west of WA is on track and progressing as planned.
• Drilling at the Discovery antimony prospect, where historic drilling recorded significant high-grade intercepts including 7m @ 3.27% antimony (Sb) is almost complete.
• The rig will shortly relocate 2km north along strike to the second antimony target, Central, and commence drilling.
• Field observations have confirmed the presence of antimony mineralisation in drill holes as expected.
• Completion of two metallurgical core test holes at the Byro REE/Li project with samples to be submitted for chemical analysis followed by minerals extraction studies by CSIRO.

Octava’s Managing Director Bevan Wakelam stated; ”Drilling is going well at our Discovery antimony prospect and progressing as planned. The team onsite have observed antimony mineralisation in drill holes at the Discovery target, which we will get to the laboratory for determination of antimony grades. The results are expected to be available early in the new year. We are also looking forward to testing the second antimony target at the Central target, which has not been drilled tested before. In addition, core hole drilling is now complete at our Byro project, we are looking forward to getting the metallurgical recovery test work on these samples underway at the CSIRO.”

Figure 1. RC drilling at the Discovery antimony prospect, Yallalong Antimony Project.

Discovery Antimony Target

Drilling is progressing well at the Discovery antimony target with around 75% of the planned drill holes now completed. In the next few days, the drill rig will relocate to the Central antimony target, 2km north and commence drilling 9 maiden drill holes, down to a depth of approximately 120m, the prospect at Central has not been drill tested before.

Results from the drill program are expected to be available early in the new year.

Byro REE Project

Figure 2. Core drilling at the Byro REE Project

Drilling of two metallurgical core holes at the Byro Project has been completed on time and on budget and the core samples are on their way to Perth. Over the next couple of months, these samples will undergo chemical and mineralogical analysis and beneficiation tests, followed by metals extraction testwork with the CSIRO.

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