DY6 Metals (ASX:DY6) expands central rutile project with strategic Weaver Acquisition in Cameroon

DY6 Metals Limited (ASX:DY6) has announced the acquisition of six additional exploration licence applications in Central Cameroon, significantly expanding the company’s Central Rutile Project.

With the inclusion of the Weaver Project licences, DY6’s landholding has more than doubled from 2,124 square kilometres to 4,974 square kilometres, strengthening its position in what is increasingly recognised as a globally significant rutile province.

This acquisition underlines the company’s commitment to building a robust portfolio of critical mineral assets in Cameroon.

Following a recent due diligence site visit, which confirmed the presence of visible heavy minerals across the new ground, DY6 is preparing to advance exploration activities.

In this Q&A, Executive Chairman Dan Smith addresses key investor questions about the acquisition, the early exploration findings, the geological significance, and the next steps.

What is the significance of this acquisition for DY6 Metals and its Central Rutile Project?

The acquisition of the Weaver Project represents an important strategic step for DY6 Metals, as it substantially increases our exploration footprint in Central Cameroon.

The new ground effectively more than doubles the size of our Central Rutile Project and provides us with the opportunity to explore additional areas that display similar geological characteristics to those seen in our existing licences.

By integrating the Weaver licences, we enhance our position in a region that is fast becoming known for its rutile potential.

“The acquisition significantly increases DY6’s landholding in central Cameroon to 4,974km² from 2,124km². With the inclusion of the Douala Basin HMS Project, DY6 now holds 100% of 7,554km² of licences in Cameroon.”

What did the recent due diligence site visit reveal about the potential of the Weaver Project?

During our due diligence site visit, we undertook initial reconnaissance exploration, which included auger drilling, channel sampling, and stream sediment sampling.

All sample locations showed visible heavy mineral content after panning, which is an encouraging early sign. One notable channel sample returned a maximum visual estimate of 10% heavy minerals, including visible rutile.

While these field observations are promising, we acknowledge that they are not a substitute for laboratory analysis, and we await assay results in the September quarter to confirm the grade and composition.

“During the recent due diligence site visit undertaken by the Company and its technical consultants, both alluvial and eluvial (residual) sources of rutile and HMS were observed.”

How does the geology of the Central Rutile Project compare to other major rutile projects globally?

The geology underlying the Central Rutile Project is consistent with that seen in some of the world’s largest rutile deposits.

The project area is predominantly underlain by kyanite-bearing mica schist, which is known to be a primary source of rutile.

This is the same type of geology present at Sovereign Metals’ Kasiya Project in Malawi, which is currently the world’s largest known primary rutile deposit.

The weathering processes in both regions result in the concentration of rutile in near-surface saprolite, creating a compelling exploration model.

“Central Cameroon is fast emerging as a globally significant rutile province and DY6’s newly expanded Central Rutile Project comprises just under 5,000km² of world class tenure directly within the heart of it.”

What are the next steps for DY6 following this acquisition?

Our immediate focus is on receiving the assay results from the samples collected during the due diligence phase.

These results, due in the September quarter, will provide us with valuable data on mineral grades and distribution.

Based on this information, we plan to implement a broader regional soil sampling and hand auger drilling programs to further assess the lateral extent of mineralisation.

This systematic exploration approach will allow us to prioritise targets for future exploration phases in an efficient and cost effective manner.

How does this acquisition align with DY6’s broader strategy in Cameroon and the heavy mineral sands sector?

This acquisition is fully aligned with DY6’s strategy to build a strong position in the exploration of critical minerals within Cameroon.

With the Weaver licences now included, our total landholding across the Central Rutile Project and the Douala Basin Heavy Mineral Sands Project stands at 7,554 square kilometres.

Our approach is to methodically explore these underexplored areas, guided by data and geological potential, with the aim of creating long-term value through potential discovery and resource development.

“The acquisition of this new licence package more than doubles our landholding in this highly prospective area of Central Cameroon. Desktop work as well as a recent due diligence site visit, indicates that the Weaver Project area is underlain by the same favourable geology that we have seen at our existing Central Rutile Project.”

Advancing Exploration with Scale and Purpose

The acquisition of the Weaver Project represents a significant milestone for DY6 Metals as we continue to expand our exploration footprint in Cameroon.

By securing this additional ground, we are well positioned to systematically explore an area with clear geological potential for rutile and heavy mineral sands.

With assay results expected in the September quarter and further exploration activities planned, DY6 remains focused on progressing exploration in a disciplined and value driven manner, as we work towards unlocking the full potential of this promising region.

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