Critical Metals Corp. Has Commenced Drilling at the Tanbreez Rare Earth Deposit
Critical Metals Corp (Nasdaq: CRML) has launched a diamond drilling program at the Tanbreez Greenland Rare Earth Mine. The program includes 14 holes totaling up to 2,200 meters and aims to evaluate resources and project lifespan. Expected to last 30 days, the drilling is conducted by 60 North Greenland and supervised by rare earth experts.
The Tanbreez project is seen as important for reducing Western dependence on China for critical materials in clean energy and defense applications. The program focuses on converting mineral resources from Inferred to Indicated status and increasing the throughput target from 0.5 to 3 million tonnes per annum. Critical Metals Corp plans to conduct a SK-1300 assessment and a comprehensive feasibility study.
Significant progress has been made, with 414 drill holes and over 366,000 assays already completed, providing extensive data on the deposit's geology and rare earth element distribution.
Critical Metals Corp (Nasdaq: CRML) ha avviato un programma di perforazione a diamante nella miniera di terre rare Tanbreez in Groenlandia. Il programma prevede 14 fori per un totale di 2.200 metri e mira a valutare le risorse e la durata del progetto. Si prevede che duri 30 giorni e la perforazione è condotta da 60 North Greenland, sotto la supervisione di esperti di terre rare.
Il progetto Tanbreez è considerato importante per ridurre la dipendenza occidentale dalla Cina per materiali critici nelle applicazioni di energia pulita e difesa. Il programma si concentra sulla conversione delle risorse minerarie dallo stato Inferred a Indicated e sull'aumento dell'obiettivo di throughput da 0,5 a 3 milioni di tonnellate all'anno. Critical Metals Corp prevede di condurre una valutazione SK-1300 e uno studio di fattibilità completo.
Notevoli progressi sono stati fatti, con 414 fori di perforazione e oltre 366.000 analisi già completate, fornendo ampie informazioni sulla geologia del deposito e sulla distribuzione degli elementi delle terre rare.
Critical Metals Corp (Nasdaq: CRML) ha lanzado un programa de perforación con diamante en la mina de tierras raras Tanbreez en Groenlandia. El programa incluye 14 agujeros que suman hasta 2,200 metros y tiene como objetivo evaluar los recursos y la duración del proyecto. Se espera que dure 30 días, y la perforación es realizada por 60 North Greenland bajo la supervisión de expertos en tierras raras.
El proyecto Tanbreez se considera importante para reducir la dependencia de Occidente de China para materiales críticos en aplicaciones de energía limpia y defensa. El programa se centra en convertir los recursos minerales de Inferred a Indicated y aumentar el objetivo de rendimiento de 0.5 a 3 millones de toneladas por año. Critical Metals Corp planea llevar a cabo una evaluación SK-1300 y un estudio de viabilidad integral.
Se han logrado avances significativos, con 414 agujeros de perforación y más de 366,000 análisis ya completados, proporcionando datos extensos sobre la geología del depósito y la distribución de los elementos de tierras raras.
Critical Metals Corp(Nasdaq: CRML)가 탄브리즈 그린란드 희토류 광산에서 다이아몬드 채굴 프로그램을 시작했습니다. 이 프로그램은 14개 구멍으로 총 2,200미터를 목표로 하며 자원과 프로젝트 수명을 평가하는 것을 목적으로 합니다. 30일간 지속될 것으로 예상되며, 60 North Greenland가 수행하고 희토류 전문가들이 감독합니다.
탄브리즈 프로젝트는 서방이 청정 에너지 및 방위 응용 분야에서 중국에 대한 의존도를 줄이는 데 중요한 것으로 간주됩니다. 이 프로그램은 광물 자원을 암시에서 지시 상태로 전환하고 연간 0.5백만~3백만 톤의 처리 목표를 증가시키는 데 집중하고 있습니다. Critical Metals Corp는 SK-1300 평가와 포괄적인 타당성 조사를 수행할 계획입니다.
상당한 진전이 이루어졌으며 414개의 시추 구멍과 366,000회의 분석이 이미 완료되어 광상의 지질학 및 희토류 원소 분포에 대한 광범위한 데이터를 제공합니다.
Critical Metals Corp (Nasdaq: CRML) a lancé un programme de forage diamant dans la mine de terres rares Tanbreez au Groenland. Le programme comprend 14 forages totalisant jusqu'à 2 200 mètres et vise à évaluer les ressources et la durée du projet. Il devrait durer 30 jours et le forage est réalisé par 60 North Greenland sous la supervision d'experts en terres rares.
Le projet Tanbreez est perçu comme important pour réduire la dépendance occidentale à la Chine pour des matériaux critiques dans les applications d'énergie propre et de défense. Le programme se concentre sur la conversion des ressources minérales de l'état Inferred à Indicated et sur l'augmentation de l'objectif de rendement de 0,5 à 3 millions de tonnes par an. Critical Metals Corp prévoit de réaliser une évaluation SK-1300 et une étude de faisabilité complète.
Des progrès considérables ont été réalisés, avec 414 forages et plus de 366 000 analyses déjà complétées, fournissant des données étendues sur la géologie du gisement et la distribution des éléments des terres rares.
Critical Metals Corp (Nasdaq: CRML) hat ein Diamantbohrprogramm in der Tanbreez-Grönland-Ree-Mine gestartet. Das Programm umfasst 14 Löcher, die insgesamt bis zu 2.200 Meter erreichen, und zielt darauf ab, die Ressourcen und die Lebensdauer des Projekts zu bewerten. Es wird erwartet, dass die Bohrungen 30 Tage dauern und von 60 North Greenland durchgeführt werden, unter der Aufsicht von Experten für seltene Erden.
Das Tanbreez-Projekt wird als wichtig angesehen, um die westliche Abhängigkeit von China von kritischen Materialien für saubere Energie und Verteidigungsanwendungen zu verringern. Das Programm konzentriert sich darauf, Mineralressourcen von Inferred zu Indicated zu konvertieren und das Durchsatzziel von 0,5 auf 3 Millionen Tonnen pro Jahr zu erhöhen. Critical Metals Corp plant, eine SK-1300-Bewertung und eine umfassende Machbarkeitsstudie durchzuführen.
Es wurden bedeutende Fortschritte erzielt, mit 414 Bohrlöchern und über 366.000 Analysen, die bereits abgeschlossen sind und umfangreiche Daten zur Geologie des Deposits und zur Verteilung der Elemente seltener Erden liefern.
- Launch of diamond drilling program at Tanbreez Greenland Rare Earth Mine
- Potential to reduce Western dependence on China for critical materials
- Plans to increase throughput target from 0.5 to 3 million tonnes per annum
- Extensive existing data: 414 drill holes and over 366,000 assays completed
- Exploitation license already awarded four years ago
- Drilling program subject to weather conditions and site accessibility
- Results of the drilling program are yet to be determined
Insights
The commencement of drilling at the Tanbreez Rare Earth Deposit marks a significant milestone for Critical Metals Corp. This program aims to enhance the project's feasibility analysis and advance its development roadmap, which could potentially impact the company's valuation.
The focus on rare earth elements is strategically important, given the growing demand for these materials in clean energy and defense applications. The company's goal to reduce western dependence on China for critical materials aligns with current geopolitical trends, potentially positioning CRML favorably in the market.
Investors should note the experienced team overseeing the project, including former government officials and industry experts, which adds credibility to the operation. The planned increase in throughput from
The drilling program at Tanbreez is comprehensive and well-designed. With 14 holes totaling 2,200 meters, it should provide substantial data to evaluate resources and project lifespan. The existing database of 414 drill holes and over 366,000 assays indicates a thorough understanding of the deposit's geology.
The statement by Gregory Barnes about the uniqueness of the core sample is intriguing and suggests potentially high-grade mineralization. However, investors should await official assay results before drawing conclusions.
The planned conversion of resources from Inferred to Indicated status is a critical step in de-risking the project and increasing investor confidence. The additional percussion drilling and twin hole program for QAQC compliance demonstrate a commitment to robust geological practices, which is essential for project advancement and future financing.
While the drilling program is a positive step, investors should consider that Critical Metals Corp is still in the development stage. The company's focus on advancing towards a comprehensive feasibility study and SK-1300 assessment indicates a structured approach to project development, but it's important to note that significant capital expenditure will be required before production can begin.
The potential increase in throughput to
Investors should monitor the company's cash position and funding strategy for future development stages. The strategic importance of rare earth elements in the current geopolitical climate could attract government support or strategic partnerships, potentially enhancing the company's financial position.
Diamond Core Drilling program of 14 holes totalling ca. 2,200 meters to enhance feasibility analysis and advance the project’s development roadmap
NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp”), a leading mining development company focused on critical metals and minerals and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today announced the launch of a diamond drilling program at the Tanbreez Greenland Rare Earth Mine (the “Tanbreez Project”).
The drilling program consists of 14 holes with a total cumulative length of up to 2,200 m and will evaluate the resources contained in the mine and the mine’s projected lifespan. The drilling program is expected to last approx. 30 days subject to the appropriate weather conditions and site accessibility.
“The Tanbreez project offers immense potential for reducing western countries’ reliance on China for critical materials needed to support the transition to clean energy and defense applications, thereby bolstering national security,” said Tony Sage, CEO and Chairman of Critical Metals Corp. “We look forward to the results of this drilling program as we continue to advance our development strategy for this foundational rare earth asset.”
Drilling Program Details and Core Extraction
The program is being conducted by the experienced Greenland drilling contractor, 60 North Greenland, and supervised by the team of internationally acclaimed rare earths geological experts, such as Mr. Gregory Barnes, the founder of Tanbreez Project, along with Mr. Hans Kristian Schønwandt, a former Deputy Minister of Mines for Greenland, and Mr. Ole Christiansen who together bring an extensive knowledge of the Tanbreez mineral deposit and over 40 years’ of professional credentials of development of mining projects from greenfield stage to production. Gregory Barnes said, “In my 22 years' experience of drilling in Greenland, I have never seen a core sample quite like this. I am anxiously awaiting the assay results.”
Figure 1 Drill core with rare earth occurrences
Drill Rig
The Tanbreez Greenland Rare Earth Mine
Figure 2 Drilling program target, the Tanbreez Project, Greenland
The current drilling program will be primarily focused on drill core samples for geological analysis and petrological testing for the conversion of the mineral resource from Inferred to Indicated status, and for the further increase the throughput target from 0.5 million tonnes per annum to 3 million tonnes per annum.
Critical Metals Corp continues to progress its plans to undergo a SK-1300 assessment and move towards conducting a comprehensive feasibility study. Following the drilling program, the Company will commence percussion drilling program to delineate the mineralization in the selected areas, perform twin hole drilling on several targets to comply with QAQC requirements and effectively test the revised geophysical model, further solidifying its development strategy for the project.
Significant progress has already been made regarding the pre-operational activities for the asset. Tanbreez was awarded a key exploitation license four years ago, and extensive studies have been completed. In addition to the 14 drill holes for the program, 414 drill holes and more than 366,000 assays have been conducted, providing a rich database on the deposit's geology, geochemistry and rare earth element distribution. Substantial bulk testing, totaling approximately 709 tonnes, further underscores the asset's significant scale and the depth of the work already completed.
About The Project
Critical Metals Corp currently owns
Figure 3 Location of the Tanbreez Project and Tenement MIN 2020-54
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its initial flagship asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable building block in an expanding geostrategic critical metals portfolio.
For more information, please visit https://criticalmetalscorp.com/.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, without limitation, statements regarding the financial position, financial performance, business strategy, expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
These forward-looking statements may include statements, among other things, relating to: general economic conditions and conditions affecting the industries in which the Company operates; expansion and other plans and opportunities, including expansion into other strategic assets; and other statements preceded by, followed by or that include the words “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Shell Company Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 3, 2024 and in the Company’s proxy statement/prospectus, dated December 27, 2023, as supplemented by that proxy statement/prospectus supplement No. 1, dated February 15, 2024, forming a part of Registration Statement on Form F-4 (File No. 333-268970), as amended, which was declared effective on December 27, 2023. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
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FAQ
What is the purpose of Critical Metals Corp's (CRML) drilling program at Tanbreez?
How many drill holes and meters are planned for CRML's Tanbreez project?
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What is the significance of the Tanbreez project for Critical Metals Corp (CRML)?
