About Time29 Apr 2026 07:04
Critical Mineral Resources plc (“CMR”, “CMRS” or the “Company”) is very pleased to report its first assay results from its 2026 drill programme at Agadir Melloul. As previously reported, drilling rates ramped up during February and March as the weather improved and CMR is now achieving a rate of approximately 1,200m per month, this drill programme is fully funded and expected to lead to a maiden resource by Q3 2026.
Going forward, CMR expects to release regular assay results once every four to five weeks.
The assay results reported today demonstrate consistent copper mineralisation including zones of excellent thickness and copper grade. In some areas, copper mineralised drill intercepts averaged approximately 5m true width, significantly above the Company’s average-width target of 2m. These near surface, high-grade results illustrate the opportunity for open pittable mining on this district-scale deposit.
Highlights
Excellent drill results include:
5.0m at 1.20% copper, 0.77g/t Au and 1.4g/t silver from 24m,
3.7m at 1.76% copper and 8.6g/t silver from 6.3m, and
4.0m at 1.20% Cu and 0.9g/t Ag from 18m.
Sediment hosted mineralisation being delineated rapidly as the Company targets publication of its Maiden Resource Estimate during Q3 2026.
Growth potential very significant with less than 3% of the project area drilled.
Management maintains its base case medium term exploration target of 25 million tonnes 1 .
1 The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration or modelling work to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
2 Traces of gold reported over >2m in holes BH11, BH15, BH17, BH118, BH119
Charlie Long CEO commented:
“These results continue to confirm a shallow, coherent copper system with widths and grades that are consistent with an open pit development scenario. Importantly, several intercepts exceed our initial thickness assumptions, which has positive implications for potential mining inventory and economics.
Our immediate focus is on systematically extending these and other zones ahead of a maiden resource in Q3, while advancing metallurgical work to validate processing assumptions. With less than 3% of the target area drilled, we see significant scope to grow both tonnage and confidence in the system"
Russell Tucker NED commented:
“We invested in Agadir Melloul and the CMR management team based on clear evidence of a near surface copper silver deposit with scale potential. Today’s drill results, alongside those announced previously, support our initial assessment. We are particularly encouraged by the thicker zones and the fact that only a fraction of the project has been drill tested”
Conversion shares
The Company has received conversion notices of 33,721,061 and 45,273,349 shares from strategic investors which s
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