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.”
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.
