Critical Mineral Resources Aims for Independent JORC Resource at Agadir Melloul
Critical Mineral Resources PLC, listed on the London Stock Exchange under the ticker CMRS, has made significant strides in its Agadir Melloul copper project located in Morocco. During a recent interview, CEO Charlie Long provided insights into the anticipated independent JORC (Joint Ore Reserves Committee) mineral resource estimate, which is set to be unveiled in October. This development is crucial for the company, as many investment funds typically allocate resources only once a JORC-compliant resource estimate is available. The independent assessment not only serves as a reliable and audited measure for investors but also strengthens the credibility of the mineral resources claimed by the company.
Long highlighted that the upcoming mineral resource estimate will encompass only a fraction of the total licensed area, specifically around 5-6%. However, when considering imminent land acquisitions, this figure effectively reduces to about 3-4%. The mineralization exposed at the site extends over a remarkable distance of 12-15 miles, indicating significant potential for exploration and drilling activities in the years to come. This extensive area presents ample opportunity for further drilling, allowing the company to explore regions that have yet to be fully assessed.
The site has recently garnered attention from James Hogg, a principal geologist and CEO of Addison, who spent two and a half days inspecting various locations within the project. Hogg's observations included diverse geological features such as rhyolite, gold, and sedimentary copper mineralization, along with micro-conglomerate formations across the current drilling sites and an area 10 kilometers southeast, which may become the next target for drilling activities.
Following the release of the mineral resource estimate, Long outlined two parallel pathways for advancement: the conversion of the identified resources into a reserve and the development of a mine schedule, alongside progressing metallurgical studies and preparing for an environmental impact assessment. He also noted that a network of professionals, including former staff from Rio Tinto, is currently aiding in the feasibility studies, which are expected to yield results in the near future. This strategic approach underscores Critical Mineral Resources' commitment to advancing its projects efficiently and responsibly.
As reported by youtube.com.
