* Report -OCTANEX (ASX:OXX)
(Up on no news)
This unassuming greenfields gold explorer recently completed early-stage soil sampling at the unexplored 2,585km2 ‘Sefton ‘gold project in WA.
The aim of the program was to define gold and copper-gold anomalies for follow-up drilling, OXX says.
“Due to widespread transported cover and the deep weathering profile of the region, low values of gold and other ‘pathfinder’ elements in surface material are considered significant and may provide indications of gold in the bedrock,” the company says.
“The company considers this area highly prospective for the discovery of a major gold resource.”
OXX’s ongoing data compilation and review will also consider the rare earth element (REE) and lithium potential of the Sefton and adjacent ‘Hope Campbell’ project areas.
The $5m market cap stock is up 10% year-to-date. It had $376,000 in the bank at the end of December.
DYOR IMHO
