Critica Limited

Best Intersection – 67m @ 3,074 ppm TREO from Latest Jupiter Drilling

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.

The Conversation (0)

Ucore Secures Strategic Advantage with Louisiana Foreign Trade Zone Amid Proposed U.S. Trade Policies

  • Ucore's proposed Louisiana rare earth refining facility is located within the England Airpark & Community, a Foreign Trade Zone.
  • Foreign Trade Zones have the potential to mitigate the impact of proposed tariffs on the import and export of rare earth products.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), noting the recent news about potentially increased tariffs, comments on the value of its new Strategic Metals Complex (SMC) in the favorable location of England Airpark Foreign Trade Zone (FTZ) for affordable supply of rare earths to U.S. consumers.

During the recent election campaign, and following the Republican victory, President-elect Trump emphasized a return to tariffs and other trade measures as a way to encourage the reshoring of American manufacturing. Key proposals include heightened tariffs on Chinese and other foreign-made goods, especially in critical materials supply chains.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Ucore Provides Corporate Update

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") announces that the Company intends to extend the term of a total of 7,055,795 common share purchase warrants (the "Warrants"). The Warrants were originally issued pursuant to a non-brokered private placement of the Company, which closed on December 22, 2022. Each Warrant is exercisable at a strike price of $0.85, with an original 24-month term. The Company intends to extend the expiry date for these Warrants by 12 months, and accordingly, the new, proposed expiry date for the Warrants will be December 22, 2025.

All other terms and conditions of the Warrants will remain unchanged. The extension of the term of the Warrants is subject to the acceptance of the TSX Venture Exchange (the "TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Piles of rare earth minerals.

Mkango's Q3 Results Highlight Progress at US, UK Rare Earths Plants

Canadian rare earths company Mkango Resources (TSXV:MKA) has released its third quarter financial results, spotlighting the progress of its US-based HyProMag USA rare earth recycling project.

HyProMag USA is focused on rare earth magnet recycling and manufacturing in Texas, representing a key component of Mkango’s efforts to meet the growing demand for sustainable rare earth materials. The project is owned by Maginito, Mkango's 79.4 percent owned joint venture with partner CoTec Holdings (TSXV:CTH,OTCQB:CTHCF).

A feasibility study for the project, released on November 25, revealed a post-tax net present value of US$262 million and a 23 percent internal rate of return at current rare earth prices, demonstrating the project’s economic viability even under conservative market conditions. At forecast market prices, it reported an NPV of US$503 million and an IRR of 31 percent.

Keep reading...Show less
Positive Feasibility Study Demonstrates Profitable Magnet Recycling Business in UK

Positive Feasibility Study Demonstrates Profitable Magnet Recycling Business in UK

Landmark Belfast facility backed by UK Government shows strong returns and supply chain engagement

Ionic Rare Earths Limited (“IonicRE” or the “Company”) (ASX: IXR) wholly owned subsidiary Ionic Technologies is on track for the development of a unique commercial REO manufacturing facility in Belfast, UK, following the successful completion of a Feasibility Study that demonstrates both strong financial returns and environmental sustainability. The study positions Ionic Technologies as the ‘first mover’ in the development of a sustainable, traceable and sovereign UK/Europe supply chain, meeting the demands of the net-zero transition, advanced manufacturing and defence.

Keep reading...Show less
CuFe Ltd

Sale of Crossroads Gold Royalty for A$4 Million Cash

CuFe Ltd (ASX: CUF) (CuFe or the Company) is pleased to announce that its wholly owned subsidiary Jackson Minerals Pty Ltd (Jackson) has entered into a binding sale and purchase agreement with Northern Star (Saracen Kalgoorlie) Pty Ltd and Northern Star (KLV) Pty Ltd (collectively Northern Star) for the sale of Jackson’s 2% Net Smelter Royalty over Northern Star’s Crossroads gold project.

Keep reading...Show less

Ucore Closes Private Placement Financing

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that has closed its previously announced non-brokered private placement offering of 4,803,329 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $2,401,665 (the "Offering"). Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") for a period of 24 months following the date of closing of the Offering (the "Closing Date", being the date hereof) at an exercise price of $0.75.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×