Critical Mineral Resources PLC Regulatory News (CMRS)

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

 

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."

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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).