Critical Metals Corp. (Nasdaq:CRML) has announced the launch of a 2000m resource diamond drilling programme at the company’s Tanbreez Rare Earth Project in Greenland.
This drill programme is aimed at significantly increasing the size of the existing MRE for the Fjord Eudialyte Deposit, which currently has an indicated resource of 8.76Mt and an inferred resource of 13.8Mt. The first drill hole, K25-01 has been collared and down to approximately 60m and shows medium grained eudialyte with 30-40% composition. This drilling programme will target further resource extension east of the existing Fjord Deposit, approximately 700m and 650m along strike of the North-East to South-West strike kakortokite host rock. Targets depths for the vertical drill holes range from 80m to 250m over the undulating topography.
Tony Sage, CEO and Executive Chairman of Critical Metals Corp. commented on the announcement, “Launching our fiscal 2025 drilling campaign at Tanbreez is an important investment and step in our efforts to bring this game-changing rare earth asset into production as soon as possible to meet the growing demand in the United States and the West more broadly for rare earth material. To kick off this campaign, we have already installed a new drilling rig, which is expected to enable us to significantly increase the size of our resource estimate. This new drilling program is designed to significantly increase the size of the current Mineral Resource Estimate (MRE) and support the development of the Bankable Feasibility Study (BFS), paving the way for a final decision to mine. As we progress with our fiscal 2025 drilling campaign, we expect to release new drill results from our 2024 campaign to further verify the immense potential of Tanbreez.”
Critical Metals Corp. has full exploration and DFS study teams on site now, conducting detailed fieldwork and collecting data for use in finalizing the BFS as well as to prepare the reports required by the Greenland regulators and the company’s financial partners. Included in the company’s partners is European Lithium Ltd (ASX:EUR; FRA:PF8; OTC:EULIF), who hold approximately 63M ordinary shares in Critical Metals Corp., giving them a significant interest in Critical Metals Corp. and the company’s vision to be become a key supplier of critical metals for the European battery supply chains.
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