Osmond Resources (ASX:OSM) identified high-grade critical minerals mineralization during a recent drilling at its Orión EU critical minerals project in Spain, according to a Thursday Australian bourse filing.

The results were of up to two meters at 13.7% titanium dioxide, 5.22% zirconium oxide, and 0.93% total rare earth oxide, with a total heavy mineral content of 29.1%, the filing added.

The company said independent consultants engaged to undertake the mineral resource estimation have indicated that channel sampling can be included in the estimation process, with phase 2 drilling targeting four holes proximate to existing high-grade drill holes and outcrops, pending a final administrative signature.

A scoping study is continuing with completion anticipated in the second half of the year, it added.

The company's shares rose 14% in recent Thursday trade.