Drilling update
Summary by AI BETAClose X
3 February 2026
Critical Mineral Resources Plc
Drilling ramping-up following oversubscribed fundraise
Critical Mineral Resources plc (“CMR”, “Company”) is pleased to report that following the recently completed and heavily oversubscribed fundraise, diamond drilling with two rigs is ramping-up over the coming weeks as the weather improves. Drilling during H1 is designed to produce Agadir Melloul’s maiden resource estimate, targeted for publication in early Q3 2026.
Key Highlights
- Accelerated drill programme at Agadir-Melloul
- Two diamond rigs ramping-up to two shifts per day each
- 20 holes planned per month from mid-February
- Agadir Melloul’s maiden resource estimate targeted for Q3 2026
Fig.1 Company’s diamond rig at Agadir Melloul
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Source: Company
Charlie Long CEO commented:
“With two rigs now turning, we anticipate an extremely productive drill programme and for an internal maiden resource to be modelled by late Q2 and for the JORC compliant resource estimate to be published in early Q3.
Drilling has been intermittent in recent weeks due to inclement weather. This week both rigs are operating on day shifts, and once the weather improves night shifts will be introduced. From then on we should be drilling 20 holes per month equating to approximately 1,000m.
For a near-surface project like this, metres drilled is less important than the number of holes drilled. Each hole will range from 20m to 50m depth, with the occasional deeper hole to drill-test the basement as we continue the hunt for mineralised rhyolite.
It’s worth reiterating that near-surface mineralisation is quite unusual and a huge economic advantage in terms of opex, upfront capex, reserve development capex and ongoing sustaining capex”.
ENDS
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Critical Mineral Resources plc Charles Long, Chief Executive Officer |
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Shard Capital LLP Erik Woolgar Damon Heath
AlbR Capital Jon Belliss
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+44 (0) 207 186 9952
+44 (0) 20 7399 9425 |
Notes To Editors
Critical Mineral Resources (CMR) PLC is an exploration and development company focused on developing assets that produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities are widely recognised as being at the start of a supply and demand super cycle.
CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, silver and potentially other critical minerals and metals. CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, good infrastructure and attractive permitting, tax and royalty conditions.
The Company is listed on the London Stock Exchange (CMRS.L). More information regarding the Company can be found at www.cmrplc.com
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