Business
Moroccan Copper-Silver Project Agreement
Moroccan Copper-Silver Project Agreement.
About this update from Critical Mineral Resources Plc
[{"type":"text","content":"\n\n12 September 2023\nCritical Mineral Resources PLC\n\n \nMoroccan High Grade Copper-Silver Project Agreement\n\nCritical Mineral Resources plc ('CMR' or the 'Company), the exploration and development company focused on clean energy commodities, is pleased to provide its first operational update since acquiring its Moroccan subsidiary, Atlantic Research Minerals ('ARM'), in June 2023. Since then, the Company has been actively building its portfolio of critical minerals projects and has identified a number of open areas prospective for copper, silver, manganese and barite. \nThe Ighrem Permit\nDuring July and August, the Company staked four Research Permits1. Following a fieldwork assessment, three permits were dropped, with the Inghrem Permit being kept. The Ighrem Permit is 16km2 and contains high grade manganese and barite mineralisation. It is also prospective for copper and silver and a comprehensive geological mapping and sampling programme will be initiated in the coming weeks.\n \nIncubator Portfolio\nThis process of selecting ground in prospective areas, supported by fieldwork and historical data, continues. The aim is to ensure ARM's incubator portfolio contains at least three distinct projects covering a range of critical minerals. Each project will likely consist of multiple permits to ensure a sufficient footprint in selected areas. The team is working now to secure ground in two separate regions, and the Company will provide updates in due course.\n \nAnzar Copper-Silver Project\nAlongside the incubator portfolio, the Company is targeting more advanced projects for earn-in, joint venture or acquisition. CMR has entered into binding heads of terms on the Anzar Project, an exciting high grade copper-silver project in central Morocco.\nThe deposit is sedimentary hosted in grey sandstones, and where it outcrops, the thickness ranges from 1.0 to 3.0m. Oxide and sulphide mineralisation is concentrated in the bedding planes and areas of fossilised vegetation, with lower grade disseminated mineralisation in the competent grey sandstone. Management is targeting an average resource grade of 1.75 to 2.0% copper plus 30 to 40 g/t of silver and regards Anzar as having the potential for rapid development to a construction decision and operating mine.The Anzar Project consists of a 1.0km2 mining l...