Critical Mineral Resources on Track for Maiden Resource at Agadir Melloul
Critical Mineral Resources PLC, trading under the ticker CMRS on the London Stock Exchange, has announced encouraging developments regarding its Agadir Melloul copper project located in Morocco. The company is set to unveil its first JORC-compliant resource estimate in October, following a series of successful drilling operations that have confirmed further shallow mineralization. Recent results from Zone 1 North of the site revealed significant copper grades, including a remarkable interval of 6.9 meters grading 0.52% copper from a depth of 37 meters, which also featured a sub-section yielding two meters at 0.74%. Moreover, another section recorded 2.9 meters at a copper grade of 0.67% accompanied by 2.5 grams of silver per tonne from 11 meters down.
The latest drilling efforts have resumed at a robust pace of approximately 800 meters per month, overcoming a temporary halt due to a shortage of preferred drill bits. So far, around 7,000 meters of the planned 10,000-meter drilling program have been completed, which accounts for about 6% of the project’s total area. Notably, CMR's internal model, which has not yet been certified under JORC standards, estimates that there are approximately 25,000 tonnes of copper present within the project. The company is also advancing its work on metallurgy, plant design, and conducting an environmental impact assessment, aiming to complete a feasibility study by December 2026.
As reported by uk.finance.yahoo.com.
