Critical Mineral Resources PLC High Grades Confirmed at Anzar (7426O)
October 05 2023 - 2:00AM
UK Regulatory
TIDMCMRS
RNS Number : 7426O
Critical Mineral Resources PLC
05 October 2023
5 October 2023
Critical Mineral Resources PLC
('CMR' or the 'Company')
High Grades Confirmed at Anzar
Critical Mineral Resources plc, the exploration and development
company focused on clean energy metals, is pleased to provide assay
results from sampling at the Anzar Copper-Silver Project in Central
Morocco. The results include some significant discoveries,
including exceptionally high copper and silver grades, surpassing
initial expectations. These findings underscore the significant
potential of the Anzar Project, exemplified by the outstanding
channel sample results and a hand sample which returned 40.12%
copper and 272 g/t silver. This sampling programme reinforces our
analysis of the Anzar region and belief in its excellent geological
potential.
High Copper and Silver Grades
In September, eleven samples were collected from three locations
across the property. These were assayed using ICP analysis at the
SGS-certified AFRILAB laboratory in Marrakech. While some variance
in grades was anticipated, several samples returned significantly
higher grades than expected. This is very encouraging for the
overall grade potential of an Anzar resource. The best result,
obtained from a channel sample taken over 1.2 metres assayed 15.7%
copper and 160 g/t silver.
Silver up to 272 g/t
The highest silver grade was 272 g/t from Sample 05. This was a
hand sample selected for its clearly visible high-grade copper
mineralisation, so not representative of the deposit's average
grade. Other high silver samples include channel Sample 04, which
returned 160 g/t silver with 10.65% copper and channel Sample 10,
which assayed 160g/t silver with 15.7% copper. These findings
indicate a consistently elevated silver content, a factor that
should enhance project economics and valuation.
Three Mineralised Layers
CMR has been undertaking fieldwork to better understand the
extent of the Anzar copper-silver deposit and where it outcrops.
The exploration team has discovered at least four new outcropping
locations and determined three sedimentary layers of
mineralisation. These are a conglomerate at the base, the main
pale-coloured sandstone directly above, and a second mineralised
sandstone unit above the main layer.
The discovery of multiple layers increases the potential size of
the Anzar deposit, whilst the existence of numerous outcrops, many
of which were previously unknown, helps to direct future trenching
and drilling efforts.
Channel Samples
Note that channel samples produce an average grade across the
width of the mineralised sandstone, and should be representative of
that part of the deposit. All but one of the eleven samples were
channel samples and were taken from random locations at three
different historical mining sites.
Assay table
Sample Copper Silver Notes
01 2.11% 32.0 g/t Channel sample
------- --------- ---------------
02 2.55% 40.0 g/t Channel sample
------- --------- ---------------
03 0.13% 8.0 g/t Channel sample
------- --------- ---------------
04 10.65% 160 g/t Channel sample
------- --------- ---------------
05 40.12% 272 g/t Hand sample
------- --------- ---------------
06 11.21% 80.0 g/t Channel sample
------- --------- ---------------
07 1.02% 8.0 g/t Channel sample
------- --------- ---------------
08 3.22% 8.0 g/t Channel sample
------- --------- ---------------
09 0.39% 8.0 g/t Channel sample
------- --------- ---------------
10 15.7% 160 g/t Channel sample
------- --------- ---------------
11 0.31% 8.0 g/t Channel sample
------- --------- ---------------
Charlie Long, Chief Executive Officer of CMR PLC, commented:
"We are extremely pleased with the assay results and the notable
field discoveries. Although high-grade copper is visible in the
outcropping sandstones and good grades were expected, Samples 4, 5,
6 and 10 have significantly exceeded our expectations. Our decision
to invest in Anzar looks extremely positive, and we are looking
forward to updating shareholders as field work continues.
We believe that Anzar has the potential for fast-track
development, in part due to its high-grade characteristics.
Leveraging our team's mine construction and operational expertise
in Morocco, along with the successful track record of small-scale
copper flotation plants in the region, we will prioritise this
option to generate early cash flow for the benefit of our company
and its valued shareholders."
For further information, please contact:
Critical Mineral Resources plc info@cmrplc.com
Charles Long, Chief Executive Officer
Novum Securities
Jon Belliss +44 (0) 20 7399 9425
---------------------
Hudson Sandler (Financial PR)
Charlie Jack +44 (0) 207 796 4133
---------------------
Notes to Editor
Critical Mineral Resources (CMR) PLC is an exploration and
development company focused on developing assets that produce key
commodities essential for renewable energy and storage solutions to
support the clean energy revolution. These commodities are widely
recognised as being at the start of a pricing and demand
supercycle.
CMR is building a diversified portfolio of high-quality metals
exploration and development projects in Morocco, focusing on
copper, nickel, manganese, cobalt, and rare earths. CMR identified
Morocco as an ideal mining-friendly jurisdiction that meets its
acquisition and operational criteria. The country is perfectly
located to supply raw materials to Europe and possesses excellent
prospective geology, infrastructure, and permitting, tax and
royalty conditions. In 2023 the Company acquired an 80% stake in
leading Moroccan geology company Atlantic Research Minerals
SARL.
Since taking over the CMR in 2022, the current management has
completed a comprehensive strategic review and restructuring of the
business and implemented its clear strategy to maximise exploration
and resource development opportunities for the benefit of all
stakeholders. The Company is listed on the London Stock Exchange
(CMRS.L).
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