Key Highlights

  • OD6 Metals (ASX:OD6) reported historic drilling results confirming high-grade fluorspar mineralisation at Horseshoe.
  • Historic drilling returned grades of up to 93.7% CaF₂ from shallow near-surface intercepts.
  • The company believes mineralisation remains open up-dip, down-dip and at depth.
  • OD6 plans future drilling programs aimed at testing unconfirmed extensions and high-grade zones.
  • The Horseshoe Deposit forms part of the Quinn Fluorspar Project in Nevada, USA.

OD6 Metals (ASX:OD6) updated the market on exploration activities at its Quinn Fluorspar Project in Nevada after validating historic drilling results from the Horseshoe Deposit that returned exceptionally high-grade fluorspar mineralisation.

The company’s shares closed unchanged at AUD0.19 on 14 May 2026 as investors assessed the significance of the historical drilling data and the project’s broader exploration potential.

The announcement focused on historic drilling completed by Union Carbide Corporation in 1958, with OD6 highlighting multiple shallow high-grade intercepts from the Horseshoe system. Management said the mineralisation remains open in multiple directions and largely untested at depth, supporting plans for future drilling programs.

While the results are historical in nature and not yet suitable for resource estimation purposes, the company believes they reinforce the scale potential of the broader fluorspar system.

Historic drilling reveals high-grade near-surface mineralisation

The reported drilling results came from four shallow historic drill holes averaging approximately 38 metres in depth.

Among the strongest intersections, hole H1 returned 25.8 metres grading 46.2% calcium fluoride from 0.9 metres, including 12.8 metres grading 60.9% CaF₂ and peak grades reaching 93.7% CaF₂ over 1.2 metres.

Hole H4 intersected 14.3 metres grading 70.9% CaF₂ from surface, including peak values of 84% CaF₂ over 1.5 metres, while hole H2 delivered 14 metres grading 59.9% CaF₂ from 19.5 metres.

Management stated that these results compare favourably with global fluorspar benchmarks and highlighted the combination of high grades and near-surface mineralisation as a potentially important feature of the system.

The company also noted that the historical drilling targeted only the southern Margin of the deposit and did not test the high-grade core later exposed through open-pit Mining activities.

Selective historical sampling leaves further upside potential

OD6 said historical assaying only tested selected bulk fluorspar intercept zones, while multiple sections of drill core were never assayed despite geological logging indicating fractured breccia and vein material that may also contain fluorspar mineralisation.

According to the company, this raises the possibility that mineralised widths may be materially larger than those identified within the historical datasets.

The mineralisation is currently interpreted as a fault-controlled replacement system with an exposed footprint of approximately 3,000 square metres. Management stated that the system remains open up-dip, down-dip and at depth.

Future drilling programs are expected to focus on testing the system below the shallow historic intercepts as well as targeting extensions and untested high-grade areas.

For exploration-stage projects, confirmation of continuity beyond historical drilling zones can become a significant Factor in determining broader project scale and development potential.

Quinn Project positioned within US critical minerals landscape

The Horseshoe Deposit forms part of OD6 Metals’ Quinn Fluorspar Project in Nevada, which the company agreed to acquire under an exclusive option arrangement announced earlier in 2026.

The broader project includes multiple fluorspar occurrences across the region, including the Mammoth and Big Jim prospects. The company said preliminary fieldwork has identified extensive high-grade mineralisation at several locations within the project area.

Fluorspar has increasingly attracted attention as a critical mineral due to its role in industrial applications including battery technologies, semiconductor Manufacturing, aerospace, defence technologies and nuclear fuel production.

OD6 highlighted that the United States currently relies entirely on imported fluorspar Supply, increasing strategic interest in potential domestic sources.

The company also noted that the project sits within trucking distance of the US Strategic Minerals Reserve at Hawthorne, Nevada.

Additional assays and fieldwork remain underway

OD6 confirmed that additional samples collected during recent mapping and sampling programs have been sent to ALS Global laboratories in Reno, Nevada, with turnaround times expected within four to six weeks.

Management stated that the upcoming results will help further define the scale and potential of the Horseshoe system.

At the same time, the company cautioned that the historic assay data should not be relied upon for Mineral Resource estimation until further drilling and verification work has been completed.

This distinction remains important for investors evaluating early-stage exploration projects based primarily on historical datasets.

About the Company

OD6 Metals (ASX:OD6) is an Australian exploration company focused on critical minerals and industrial mineral opportunities. The company is currently advancing the Quinn Fluorspar Project in Nevada, USA, through exploration, validation and development assessment activities.

Industry trends and market context

Fluorspar has become increasingly important within global critical minerals supply chains due to its use in industrial processing, battery technologies, semiconductors, aerospace applications and nuclear industries. Governments and industry participants have increasingly focused on securing alternative supply sources outside dominant producing regions.

The United States currently imports all of its fluorspar requirements, creating strategic interest in domestic development opportunities. Exploration activity targeting fluorspar and other critical minerals has increased in response to broader concerns around supply chain resilience and industrial security.

At the same time, exploration-stage critical minerals projects remain highly dependent on successful drilling, funding access and eventual economic feasibility outcomes.

Investment risks and challenges

OD6 Metals remains exposed to several risks associated with exploration-stage critical minerals projects. The Horseshoe drilling data is historical in nature and has not yet been independently verified through modern drilling sufficient for resource estimation purposes.

Future drilling programs may not fully replicate historical grades or confirm broader continuity across the system. The company also faces development risks linked to permitting, infrastructure, metallurgical performance and long-term market Demand for fluorspar products.

From a bullish perspective, investors may view the exceptionally high grades, near-surface mineralisation and open-ended system geometry as encouraging exploration indicators. From a bearish perspective, the project remains at an early exploration stage and will require substantial technical validation and economic assessment before commercial viability can be determined.