The British company Critical Mineral Resources PLC, listed on the London Stock Exchange under the ticker CMRS and on the Frankfurt Stock Exchange as 98J, announced on Wednesday, May 20, that initial drilling activities at its Agadir Melloul project in Morocco reveal significantly higher copper thicknesses than the parameters originally established by the group. This development marks a crucial step forward in the exploration of this strategically important site.
CEO Charlie Long emphasized that the first copper intersections average five meters, which is more than double the two-meter threshold set by the company at the campaign's inception. According to him, the results obtained from this currently limited section of the area provide a favorable outlook on the geological potential of the site, especially considering that less than 3% of the targeted surface has been subjected to drilling verification thus far.
Long noted that the data collected suggests a _“respectable resource size,”_ while the company maintains a cautious approach towards future estimates. He mentioned an _“intermediate goal of 25 million tonnes,”_ adding that _“the drilling results indicate a substantial resource,”_ and reiterated that the group intends to proceed _“step by step”_ in assessing the deposit.
Critical Mineral Resources now plans to publish its first resource compliant with the JORC code during the third quarter. This Australian standard, widely used in the international mining industry, governs the presentation of mineral resources and reserves based on standardized technical and geological criteria. The company indicates that the grades and widths already identified at Agadir Melloul could support a rapid scaling up of the project if upcoming drilling campaigns confirm the continuity of the currently observed mineralized structures.
Upcoming Technical Studies and Production Timeline
The British group specified that several technical aspects must be initiated or finalized by the end of the year, including environmental permits, metallurgical studies, and feasibility works aimed at assessing the industrial and economic parameters of the future mining site. Long believes that the continuation of favorable results could pave the way for construction work to begin as early as next year. He even posited the possibility of production commencing within approximately three years, a relatively swift pace in the extractive industry considering regulatory procedures, additional geological studies, and the necessary infrastructure for launching a copper mining operation.
The Agadir Melloul project is situated amidst a resurgence of mining activity in Morocco focused on strategic metals and polymetallic deposits, with several foreign companies ramping up drilling campaigns over the past two years on permits located in the Anti-Atlas and southern regions of the Kingdom.
Critical Mineral Resources’ announcement comes just days after new exploration updates on various Moroccan projects related to silver, copper, lead, and zinc, in a climate marked by the sustained rise in industrial metal prices and an increased search for new mining supplies on a global scale. However, the British CEO emphasizes the preliminary nature of the available data, implicitly noting that much of the area remains unexplored and that the exact extent of the resources can only be assessed following further drilling campaigns, the lateral extension of the mineralized structures, and future calculations compliant with the JORC standard.
As reported by barlamane.com.
