OD6 Metals (ASX:OD6) receives $180k to explore WA rare earth project

OD6 Metals (ASX:OD6) has been awarded $180,000 under the Western Australian government's Exploration Incentive Scheme.

The funds, awarded via the Co-funded Drilling program, will support exploration at the company's Splinter Rock rare earth deposits project, northeast of Esperance.

OD6 Metals focuses on finding rare earth elements, particularly neodymium and praseodymium, which have application in advanced electronics and permanent magnets.

The company's share price is up 103% this month.