Osmond Resources Limited (ASX: OSM), an ASX-listed company focused on fast-tracking the development of EU Critical Minerals Projects, has released its September 2025 Quarterly Activities Report, highlighting significant progress at its Orión EU Critical Minerals Project in Spain. The company announced the awarding of the Orión Investigation Permit and the completion of the acquisition of 80% of Iberian Critical Minerals Pty Ltd. This acquisition gives Osmond Resources control over a substantial portion of the Orión project. The company finished the quarter with A$3.24 million in cash reserves, ensuring ongoing operational capabilities.
The report details the commencement of drilling at the Orión project, with the first drill hole intersecting seven prospective layers, including a notable 5.0-metre layer identified from 106.5 metres. Assay results for the primary layer are being expedited and are expected within two weeks. The second drill hole, completed from the same drill pad, also intersected the main prospective layer, with two additional drill holes nearing completion. Osmond Resources is targeting the deployment of a third drill rig by late November 2025 to accelerate the drilling campaign.
Metallurgical test work has confirmed monazite as the dominant rare earth hosting mineral within the project area. The company is also evaluating high-value product initiatives, focusing on silica and rutile. Financial commentary within the report indicates exploration expenditure of A$529,000 for the quarter, with A$489,000 spent on administration and corporate costs. Payments to related parties and their associates totalled A$166,000, primarily for director salaries.
Given the promising initial drilling results at the Orión Project, Osmond Resources has decided to discontinue expenditure on the Yumbarra Project (EL6417) and plans to surrender the tenement during the current quarter. The company’s focus remains on advancing the Orión project and capitalising on the increasing demand for critical minerals within the European Union.
