InvestSMART

Oceana Metals Limited (ASX:OCN)

ALERT: Price-sensitive ASX Announcement for OCN
Current share price for OCN : $0.270 -0.223 (-45.18%)+
Announcement
Release
9 Jul 2026 9:44AM
Price at Release
$0.493
Full Release
download
Summary
Oceana Metals Limited has announced significant results from its historical core assaying program at the Serra Negra Rare Earth Project in Minas Gerais, Brazil. The results confirm high-grade rare earth element (REE) mineralization over a broad corridor, reinforcing the project's potential as a top-tier rare earth system. Initial assays from the re-sampling program highlighted intervals such as 50m at 4.0% TREO in hole LG42 and 22m at 4.7% TREO in hole LG26, situating Serra Negra among the world's most promising undeveloped rare earth deposits. The company is embarking on a 20,000m drill program to further delineate the mineralization and aims to establish a Maiden Mineral Resource Estimate (MRE) in the coming months.
Key Points
  • High-grade rare earth element mineralization confirmed at Serra Negra.
  • Significant intercepts include 50m at 4.0% TREO and 22m at 4.7% TREO.
  • A priority target corridor of 1km x 1.5km has been defined for drilling.
  • 20,000m drill program to commence to expand and define the mineralized zone.
  • Potential for Serra Negra to become a world-class rare earths project.
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.