Commencement of Drilling
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Critical Mineral Resources PLC
Commencement of Drilling
Critical Mineral Resources PLC ('CMR') is pleased to announce that drilling has started at the Agadir Melloul sedimentary copper-silver project in the Western Anti-Atlas, Morocco. Diamond drilling is targeting shallow, gently-dipping mineralised formations, and will also test the underlying Precambrian basement which is known to be mineralised in places.
Highlights
The drilling programme is designed to define sufficient resources for the planned 750 to 1,000 tonne per day Initial Mine development, whilst also starting the exploration and delineation of a larger scale resource as part of the Strategic Resource Strategy.
· Diamond drilling has started, focusing on outcropping copper-mineralised strike and the down dip extensions
· Phase 1 campaign is for 6,000 metres of diamond drilling, mostly as HQ core
· Drill metres to be split between a local contractor rig and CMR's rig which will arrive soon from Western Canada
· CMR expects to continue drilling after Phase 1 is completed, targeting a large scale resource of global significance
· CMR has an Initial exploration target of 150,000 to 200,000 tonnes of contained copper, at a 1.2% copper equivalent grade
Charlie Long, CMR's CEO commented:
"We're very excited about our first drill programme, as we build a resource and fundamental value for our shareholders. Drill core will allow us to study the stratigraphy, petrology, metallurgy and also better understand the geological system and controls of mineralisation. Although, of course, at this stage it is the grade and geometry of the deposit that is our focus.
Our initial exploration target assumes a 2.0m average thickness over a 4km2 area, in line with sedimentary copper deposits around the world, which are often relatively thin but laterally extensive. This 2.0m average will come from mineralised widths of 1.5m to >5.0m, with an expectation that most mineralised intersects will be in the 2.0m to 2.5m range.
I wanted to highlight a few advantages of this project which are helping add value and lower execution risk. Easy topography and road access allowed us to prepare 50 drill pads in a few days. The target formations are shallow and gently dipping so most holes will be vertical and drilled to 50m or less, except in a few cases when we choose to test deeper parts of the basement. All in all, and assuming good results, the monetary cost of building a resource should be significantly lower at Agadir Melloul than most other projects out there."
Video and photos of drilling activity will be uploaded to our YouTube channel
-END-
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Critical Mineral Resources PLC Charles Long, Chief Executive Officer |
info@cmrplc.com
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Novum Securities Jon Belliss |
+44 (0) 20 7399 9425 |
Notes To Editors
Critical Mineral Resources (CMR) PLC is focused on developing a sediment-hosted copper and silver project in Morocco. The macro strategy is to produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities, including copper, are widely recognised as being at the start of a supply and demand supercycle.
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. In 2023, CMR acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL. In 2025, CMR signed a definitive joint venture agreement to earn-in to 60% of the Agadir Melloul sediment hosted copper and silver project.
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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