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Octava Minerals Limited (ASX:OCT)

ALERT: Price-sensitive ASX Announcement for OCT
Current share price for OCT : $0.022 -0.045 (-67.16%)+
Announcement
Release
30 Jan 2026 8:21AM
Price at Release
$0.067
Full Release
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Summary
Octava Minerals Limited, operating under the ticker ASX: OCT, released its quarterly report for the three months ending 31 December 2025. Key activities included the commencement of drilling at the Sweeney’s prospect within the Federation project in Tasmania, where significant mineral finds were reported, including a notable amount of indium used in high-tech industries. The company also initiated drilling at the Byro Critical Minerals Project following successful bioleaching testwork. Financially, Octava reported a decrease in cash operating activities by $330,000, investments in exploration totaling $414,000, and raised $625,000 through equity issues, closing the quarter with $1.739 million in cash, enough to support operations for approximately 2.34 additional quarters.
Key Points
  • Octava Minerals Limited (ASX: OCT) released its Quarterly Activities Report for the period ended 31 December 2025.
  • The company commenced drilling at the Sweeney's prospect at the Federation project in Tasmania for the first time in nearly 50 years, revealing high-grade indium among other minerals.
  • The company reported high grades of zinc, copper, silver, tin, and antimony from re-sampling at Sweeney's Prospect.
  • An electromagnetic (EM) survey at Sweeney's Prospect showed strong results for targeting base metal sulphide mineralisation.
  • Octava received $1.5 million from a placement to sophisticated investors to fund its exploration activities.
  • Subsequent drilling commenced at the Byro Critical Minerals Project, following successful bioleaching test results.
  • Cash flow activities included operating expenses of $330,000, investment in exploration of $414,000, and proceeds from equity issues of $625,000.
  • The company ended the quarter with $1.739 million in cash and equivalents, indicating an estimated 2.34 quarters of funding available.
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.