Odyssey focuses on the responsible development of subsea mineral assets to create and realize near-term and long-term value for the company, shareholders and host countries.
We are actively expanding our subsea mineral portfolio through development of new projects, acquisition of mineral rights and deposits, and through a leveraged contracting model that allows value to be realized in deep-sea mineral projects through the provision of our expert services.
Current projects include the discovery and assessment of seafloor massive sulfide, phosphorite and polymetallic/manganese nodule resources in water depths ranging from shallow (<100 meters) to over 6,000 meters.
Announced projects include:
Bay of Ulloa, Mexico • 100 meters
The "Exploraciones Oceanicas" Phosphate Project is a rich deposit of phosphate sands identified in Mexico’s Exclusive Economic Zone, beyond its Territorial Waters. This discovery will bring important benefits for the country’s agricultural development.
The deposit lies within a mining concession licensed to the Mexican company Exploraciones Oceánicas S. de R.L. de C.V. (ExO), a subsidiary of Oceanica Resources. Odyssey Marine Exploration controls ExO through the company's 54% ownership stake in Oceanica. The current resource assessment defines the deposit as containing 588.3 million tonnes of phosphate ore with an average in situ P2O5 of 18.1%, overburden of 1.14 meters and ore thickness of 2.80 meters.
South Pacific • 500-2,000 meters
The Bismarck Gold Project, located in the EEZ of Papua New Guinea, hosts at least five prospective exploration targets in two different mineralization types: seamount-related epithermal and modern placer gold.
Previous exploration expeditions in the license area, including a survey conducted by Odyssey, indicate a polymetallic resource with commercially viable grade gold content likely exists. Additionally, the two subaqueous debris fields within the area and adjacent to the terrestrial Ladolam Gold Mine are believed to have originated from the same volcanogenic source on Lihir.
Odyssey acquired 79.9% equity ownership interest Bismarck Mining Corporation (PNG) LTD on July 9, 2019 and is immediately beginning to advance Bismarck's exploration plan to validate and quantify the precious and base metal content of the prospective resource.