Critical Mineral Resources plc (“CMR”, “Company”) is pleased to report that its newly commissioned diamond drill rig has successfully produced its first core from Zone 1 North, marking an important operational milestone and supporting the next phase of exploration and project advancement.
The hole was drilled to a depth of 30m and includes core with observable copper mineralisation. The rig has now moved to the next pad where drilling has already commenced. The next set of assay results are expected in early February.
The rig’s commissioning was completed efficiently and included the integration of a Moroccan-sourced water recycling system.
Key Highlights
First core has been recovered at Zone 1 North from the Company’s recently commissioned diamond rig
Visible copper mineralisation observed in the core, consistent with the Company’s expectations and many of the previous holes
Company-owned drill rig expected to underpin lower drilling costs and improved drilling flexibility
The drilling team has provided very positive feedback about the Multi-Power Discovery HD rig
Rig’s capability provides optionality to test deeper targets, including the potential source of mineralised rhyolite
Strong, experienced Morocco-based team positioned to support an accelerated programme through 2026
Fig.1 First drill core from recently commissioned diamond drilling rig with observable copper mineralisation
Source: Company
Charlie Long CEO commented:
“The commissioning of our company owned drill rig is a genuine step-forward for the project. Having this capability in-house gives us far greater control over the drill programme and paves the way for reduced drilling costs.
Our drilling team is reporting that the Multi-Power Discovery HD is powerful, productive and straightforward to operate, making rapid progress through carbonate and igneous rocks. Importantly it also provides us with the capability to explore deeper targets as required, including as we continue hunting for the source of the mineralised rhyolite.
Credit goes to our Moroccan drilling team, expertly led by our COO Noureddine, and our dedicated JV partner, who commissioned the rig smoothly and installed a locally sourced water recycling system without issue. Morrocco continues to stand out as highly capable mining jurisdiction, not only for its regulatory environment but the depth of practical expertise available on the ground.
That expertise will be increasingly important through 2026, as we progress Agadir Melloul towards production, supported by Moroccan experts with direct experience of developing and building multiple mines, including copper floatation operations”
Competent Person Statement
The technical exploration and mining information contained in this announcement has been reviewed and approved by Mr. Robert Nigel Chapman. Mr. Chapman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Luna Recursos Naturales SAC, an independent geological consultancy established in 2014 and is a Member of the Australasian Institute of Geoscientists (A.I.G.) Mr. Chapman has visited Agadir Melloul and consents to the inclusion in this Announcement of such information in the form and context in which it appears.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
Critical Mineral Resources PLC
Charles Long, Chief Executive Officer
info@cmrplc.com
AlbR Capital
Jon Belliss
+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. In 2023, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.
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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