The Board of Critica Limited (Critica or the Company) is pleased to announce the latest results from resource drilling targeting high-grade zones at Jupiter, which forms part of the Company’s flagship Brothers REE Project.
The drilling program was designed to increase drilling density in the high-grade zones of Jupiter, to provide enhanced certainty in the continuity of this mineralisation. The assay results in this announcement firmly validate this high- grade continuity and include the best recorded intersection to date from Critica’s drilling of the Jupiter discovery.
HIGHLIGHTS
- Record-breaking intersection of 67m @ 3,074 ppm Total Rare Earth Oxides (TREO), with hole ending in mineralisation (JPAC088).
- Infill drilling reaffirms that Jupiter hosts large and consistent zones of mineralisation grading at over 2,000ppm TREO, with drilling density now at 250m x 250m in these high-grade zones.
- Thorium and uranium content remains consistently very low.
- Density measurements are being taken from the seven diamond core holes drilled in the recent program, which are also expected to provide valuable geological data for the maiden resource estimate.
- Assays are pending for the remaining 163 holes of the resource infill drilling program at Jupiter, with the maiden resource estimate on track for release by the end of the year..
Managing Director, Philippa Leggat, commented:
“We chose to increase drilling density in the high-grade zones of Jupiter to further improve confidence in the continuity of this mineralisation, ahead of our maiden resource estimate for the Brothers Project. This set of assay results have readily demonstrated this continuity.
“It’s also incredible to see our flagship project delivering another record-breaking drill intersection, this time being 67m @ 3,074 ppm TREO. This phenomenal hole (JPAC088) ended in mineralisation – even after using all drill rods we were still in rare earth mineralisation at 99 metres.
“Our outstanding technical team continue to demonstrate that Jupiter hosts consistent, high-grade rare earth mineralisation over tens of kilometres confirming the potential of Jupiter and the Brothers Project to host one of the largest clay-hosted rare earth discoveries in Australia.
“With aircore and diamond drilling complete, and final assays pending, we are well positioned to provide a detailed and high-quality dataset to our independent geologists for preparation of our maiden resource estimate. We also have several laboratories working on all aspects of our comprehensive metallurgical program, with successful beneficiation outcomes being our first goal.
“Despite existing cyclical pricing challenges in the rare earth market we have recently seen a meaningful uptick in the NdPr price, affirming our confidence that the long-term fundamentals of the rare earth market remain strong. The world is going to continue to use motors – they need permanent magnets which require rare earths. Combustion engines, electric engines, drones – the list of uses for permanent magnets is long and their uses are pervasive. Being in Australia, we are also well-positioned to benefit from the array of geopolitical factors influencing the global rare earth supply chain.
“Critica’s strategy is to take advantage of the rare earth price cycle by rapidly advancing our flagship asset in what we believe to be a temporarily low price environment. We are well-funded and focused on the ongoing addition of intrinsic value to Jupiter and the Brothers Project.
“It’s an exciting phase of the project. Our objectives are clear and we look forward to updating shareholders as we continue to achieve key milestones.”
Click here for the full ASX Release
This article includes content from Critica Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Figure 1. Pink Bark Tenement and Drill Hole Location Map
Figure 1 – ChemX Team pictured alongside the HiPurA® SX electrical control cabinets following successful installation
Table 1: Radium Hill reference sample assays
Figure 1: Tennant Creek District showing the location of CuFe’s, Tennant Minerals’ and 100% Emmerson’s Projects and area covered by Emmerson’s Exploration JV (EEJV) with TCMGNote: Quoted production from major historical deposits after Ahmad, M. and Munson, T.J. (2013). Geology and mineral resources of the Northern Territory, Special Publication 5, For Chariot mine and Malbec West mine, quoted production from Giants Reef Mill Reconciled Production to end of month September 2005 (Giants Reef internal reporting).
