Osmond Resources (ASX:OSM) said five drill holes for 1,302.2 meters were completed at the Orión EU critical minerals project in Spain, with two additional drill holes in progress, according to a Monday Australian bourse filing.
The drill holes intersected quartzite layers of the Pochico formation, considered highly prospective for heavy minerals, including rutile, ilmenite, zircon, and monazite.
The initial assays from a drill hole were fast-tracked for analysis.
The firm's shares rose over 1% in recent trading on Monday.