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Critical Metals Corp Discovers 147 PPM of Gallium at Its Tanbreez Project
Initial results from drilling program demonstrate significant upside potential for foundational rare earth asset in Southern Greenland NEW YORK, Nov. 26, 2024
About this update from Critical Metals Corp.
[{"type":"text","content":"Initial results from drilling program demonstrate significant upside potential for foundational rare earth asset in Southern Greenland\nNEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Critical Metals Corp (Nasdaq: CRML) (“Critical Metals Corp” or “the Company”), a leading mining development company focused on critical metals and minerals and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today provided a project update for the Tanbreez Greenland Rare Earth Mine (the “Tanbreez Project”), one of the world’s largest rare earth assets located in Southern Greenland. In connection to the drilling, the Company has discovered one of the world’s highest concentrations of Gallium, an essential rare earth element for the production of computer chips and defense applications. Based on initial results obtained from Critical Metals Corp’s recent drilling program, four high-grade zones have now been identified on the site. These zones are expected to play a significant role in the Company’s strategy for optimizing its mining operations and increasing throughput (the Tanbreez Project is currently licensed for 500,000 metric tons per year). The identification of these zones is a key milestone in the ongoing development of the project. “The Tanbreez Project continues to demonstrate significant upside potential for investors, as we uncover key findings of the resource value through our important pre-production activities,” said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. “The results from our drilling program compare favorably with other recent results that have been announced to the market and we look forward to unlocking the full potential of this transformational asset. Importantly, we have discovered that the Tanbreez Project has one of the world’s highest concentrations of Gallium, which reinforces our vision to support the production of defense applications in the western world. These are only the initial results and we look forward to sharing more data about the potential for this strategic asset as the assays continue to be processed in the lab.” High Grade Zones: Unit Zero – This unit is up to 5 meters thick and is located approximately 50 meters behind the proposed plant location. This unit represents a potential target for future explor...