Brazil Projects

Highlights – Brazil

Applications have been lodged for 50,000ha of tenure prospective for
Niobium and REE adjacent to known Brazil carbonatite complexes at
Catalao II Project and Salitre which are currently being mined for
Niobium and Phosphates.
Niobium and REE targets within OZM tenure have been identified with 7 interpreted circular features.
Boca Rica Lithium Project with spodumene zone identified and first diamond drillhole BRDH001 commenced mid April 2024.
Boca Rica offers extensive LCT pegmatite swarms that extend for over 1.7kms and provide the scale to make a significant lithium discovery.

Brazil Niobium and REE Projects

Catalao and Salitre Niobium and REE Projects

100% OZM owned Brazil Salitre niobium soil sampling results with anomalous niobium mineralisation in soil extending for 1km in strike length.
Peak Niobium soil value of 190 ppm and TREO* of 614 ppm adjacent to 9 ultraviolet (UV) anomalies forming a cluster with coincident gamma radiation readings of up to 435 counts per second (CPS), which is up to 10 times above background readings from the area.
Soil sampling was designed to investigate circular features and targets generated from recently complete hyperspectral interpretation over the Salitre project area.
Ultraviolet interpretation and targeting was undertaken by Dr Neil Pendock of Dirt Exploration, Cape Town. UV detects the presence of fluorite, which is commonly associated with carbonatite complexes and is specifically a
signature of carbonatites in this area of Brazil.
OZM is targeting carbonatite intrusion hosted Niobium and REE mineralisation at Saltire and Catalao.
The Saltire and Catalao projects are situated within the Alto Paranaba Magmatic Province (APMP), a prolific host of carbonatite intrusions that accounts for 97% of worldwide niobium production – all hosted in carbonatite intrusions.
Follow-up soil sampling program planned to commence in coming weeks and company owned diamond drilling rig and crew on standby, subject to environmental permitting and access.
Boca Rica diamond drill hole BRDH 001 returns no significant lithium results.

CEO and Managing Director, Andrew Pumphrey, commented:

“We are excited to discover niobium mineralisation in soil sampling with a cluster of co-incidental UV anomalies we will be following this up with more detailed soil sampling in the coming weeks. The OZM Saltire and Catalao projects are situated within the Alto Paranaba Magmatic Province (APMP) that accounts for 97% of worldwide niobium production, all hosted in carbonatite intrusions. We are very excited with the exploration opportunity that this project presents to OZM shareholders.”

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Brazil Lithium project

Brazil Lithium Project

The Boca Rica Project was identified after conducting site visits and reviews on over 100 lithium projects within the State of Minas Geras.

This project currently consists of 3,871ha covering an area of known Lithium-Caesium-Tantalum (LCT) pegmatite swarms that are extensive along strike for up to 1.7km.

This project offers us the opportunity to make a significant lithium discovery. A spodumene zone has been identified that is approximately 6m in true width. Two rockchip samples were taken of strongly weathered spodumene crystals only from a shallow underground adit that returned results of 1.16 % LiO₂ and 0.13% LiO₂. Strongly weathered spodumene crystals are typically low in lithium due to leaching of the lithium in the weathering process. Spodumene crystals in this zone are up 1m long and represent 20% of the zone. Once we have received the required environmental permits we will be mobilising the company owned diamond drilling rig immediately to drill diamond holes targeting the spodumene zone below the weathering profile. The depth of weathering is expected to be to a depth of 30 metres. The Boca Rica Projects consists of three tenements which are currently the subject of Term Sheets entered into with the respective Vendors.

Details of the Term Sheets: See ASX 15 March 2024 Brazil Exploration update