![]() ![]() On February 23, 2022, CIC was awarded a five-year exploration license by the Cook Islands’ Seabed Mineral Authority (SBMA). In 2020, Odyssey announced it was a member of the CIC Consortium providing marine services to the project. The license area is adjacent to Lihir Island in Papua New Guinea where one of the world’s largest known terrestrial gold deposits is currently being mined and processed by Newcrest Mining. In July 2019, Odyssey acquired a nearly 80% ownership interest in Bismarck Mining Corporation, a company that owns an exploration license for 320 square kilometers containing at least five exploration targets in two different mineralization types (seamount-related epithermal and modern placer gold). This makes it one of the largest phosphate deposits to be discovered in the world. 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. Odyssey performed all of the exploration to find and validate the mineralized phosphate deposit and is managing the environmental studies, including an NI 43-101 report in 2014, and environmental permit application process with ExO. According to its latest financial report, Odyssey Marine Exploration controls ExO through the company's majority ownership stake in Oceanica. ExO conducts mineral exploration and controls exclusive permits in an area in Mexican waters that contains a large amount of phosphate mineralized material. ![]() In March 2013, Odyssey disclosed an ownership interest in Oceanica Resources, S. Odyssey also owns a minority ownership stake in Neptune Minerals, a company focused on discovering and commercializing high-value mineral deposits from the ocean floor. ![]() Odyssey later executed a charter agreement with Chatham Rock Phosphate to undertake site investigation work for its offshore permit area on the Chatham Rise. This marked the beginning of Odyssey’s transition into a mineral exploration company. In 2009, Odyssey announced it acquired a minority interest in SMM Project LLC., a company with licenses to explore in four different areas in the South Pacific. Mineral exploration Odyssey's ROV is deployed in the deep ocean to visit a mineral resource. Their work has been featured on the Discovery Channel, PBS and National Geographic. Starting out as a shipwreck pioneer, Odyssey has discovered some of the most famous deep-ocean shipwrecks in history including the SS Republic, Nuestra Señora de las Mercedes, HMS Victory, SS Gairsoppa and SS Ancona. is an American company engaged in deep-ocean exploration with a focus on the exploration, development and validation of subsea mineral resources. ![]()
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