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Osmond Resources Limited (ASX:OSM)

ALERT: Price-sensitive ASX Announcement for OSM
Current share price for OSM : $0.515 -0.12 (-18.90%)+
Announcement
Release
30 Sep 2026 8:42AM
Price at Release
$0.635
Full Release
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Summary
Osmond Resources Limited (ASX: OSM) announced a maiden JORC Mineral Resource Estimate for the Avellanar area within its Orión EU Critical Minerals Project in Jaén Province, Andalucía, Spain, showing substantial grade and scale potential from a lithified fossil mineral-sands system containing rutile, ilmenite/leucoxene, zircon and monazite; at a 4.0% TiOâ‚‚ cut-off, the total MRE is 60.0 Mt at 9.39% TiOâ‚‚, 3.06% ZrOâ‚‚, 624 ppm HfOâ‚‚ and 6,274 ppm TREO (1,801 ppm MREO), of which the Main Seam—forming the sole basis of the current Scoping Study—contains 49.7 Mt at 10.29% TiOâ‚‚, 3.42% ZrOâ‚‚, 690 ppm HfOâ‚‚ and 7,139 ppm TREO, while the separate Upper Seam contributes 10.2 Mt under a potential future development scenario; the initial resource covers only about 7.9 km², representing 3.4% of the broader 232 km² project area, supporting the Company’s view of wider expansion potential, with drilling planned to resume in October 2026 to extend the seams and potentially upgrade resource confidence, while preliminary metallurgical and process modelling indicate possible production of zircon, mixed titanium-mineral and monazite-rich concentrates, although no Ore Reserve, production target or forecast financial information is reported and further drilling, technical studies and larger-scale testwork are required.
Key Points
  • OSM reported a maiden JORC Mineral Resource Estimate for the Orión EU Critical Minerals Project in southern Spain.
  • The total MRE at a 4.0% TiO2 cut-off is 60.0 Mt at 9.39% TiO2, 3.06% ZrO2, 624 ppm HfO2 and 6,274 ppm TREO, including 1,801 ppm MREO.
  • The Main Seam contains 49.7 Mt at 10.29% TiO2, 3.42% ZrO2, 690 ppm HfO2 and 7,139 ppm TREO and is the sole basis of the current Scoping Study.
  • The Upper Seam contains 10.2 Mt at 5.01% TiO2, 1.28% ZrO2, 303 ppm HfO2 and 2,067 ppm TREO and is excluded from the current Scoping Study mine plan.
  • The maiden resource footprint covers about 7.9 km², or 3.4% of the broader 232 km² project area, indicating significant expansion potential.
  • Measured and Indicated Resources total 15.3 Mt for the total MRE, with 44.7 Mt classified as Inferred.
  • The Main Seam has indicative in-situ mineral grades of about 8.6% rutile, 5.1% zircon, 3.3% ilmenite and 1.0% monazite, for 17.9% VHM.
  • The total MRE is estimated to contain about 5.63 Mt TiO2, 1.83 Mt ZrO2, 37.4 kt HfO2, 376.2 kt TREO, 108.0 kt MREO and 9.7 Mt VHM.
  • Preliminary testwork and SysCAD modelling suggest potential concentrate streams of zircon, mixed titanium minerals and monazite-rich rare earths, but recoveries and product specifications remain unconfirmed.
  • The project is being assessed as an underground room-and-pillar operation with crushing, grinding and conventional mineral separation methods.
  • Drilling is planned to resume in October 2026 to test seam extensions and support future MRE upgrades, with an updated MRE targeted in Q1 CY27 subject to results and funding.
  • The announcement states that Mineral Resources are not Ore Reserves and that no production target, forecast financial information or Ore Reserve is reported.
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.