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Oceana Metals Limited (ASX:OCN)

ALERT: Price-sensitive ASX Announcement for OCN
Current share price for OCN : $0.355 0.175 (97.22%)+
Announcement
Release
14 Oct 2025 9:42AM
Price at Release
$0.180
Full Release
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Summary
Oceana Lithium Limited announced the commencement of a ground Moving Loop Transient Electromagnetic (MLTEM) survey at its 100% owned Bangemall Project in Western Australia. This follows a comprehensive review of historical airborne electromagnetic (AEM) data, which suggested potential for base metal sulphide mineralisation. The project involves surveying an anomalous area previously identified by Rio Tinto and BHP, with an aim to delineate drill targets for future exploration. Concurrently, a ground gravity survey will be conducted to complement the findings. The reviews and interpretations of existing data were conducted by Southern Geoscience Consultants.
Key Points
  • Oceana Lithium Limited is set to commence a ground Moving Loop Transient Electromagnetic (MLTEM) survey at its Bangemall Project in Western Australia.
  • The company has reviewed historical airborne electromagnetic (AEM) data, which indicated potential base metal sulphide mineralisation.
  • A ground gravity survey will also be conducted concurrently with the MLTEM survey.
  • Southern Geoscience Consultants were engaged to review and interpret the geophysical data.
  • The survey aims to delineate discrete targets for future drilling of base metal sulphide mineralisation.
  • The Bangemall Project covers exploration licence E52/4393 and spans 93.54km².
  • Previous exploration by Rio Tinto and BHP identified base metal stream sediment anomalies in the area.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.