Business
Molulu Operational Update
Molulu Operational Update.
About this update from Critical Metals Plc
[{"type":"text","content":"\n\n \nCritical Metals plc / EPIC: CRTM / Market: Main Market\n 15 May 2023 \nCritical Metals plc\n \n(\"Critical Metals\" or the \"Company\") \n \nMolulu Operational Update\n \n \nCritical Metals plc, a mining investment company established to acquire mining opportunities in the critical and strategic metals sector, is pleased to provide a comprehensive operational update on activities at the Company's Molulu copper/cobalt asset ('Molulu') in the Democratic Republic of Congo ('DRC').\n \nHighlights:\n \n· 6,500 tonnes of oxide ore at an average grade of 3% mined to date, as measured by our geologist using a handheld XRF\n· Mining focus accelerating to the high-grade sulphide zones - high grade ore samples above 8.3% copper\n· Latest mapping and geophysics programmes re-emphasis copper and cobalt potential\n· Dewatering process of pits underway\n· Potential buyers of ore visiting Molulu, first sales to be completed once transport infrastructure is complete\n· Mobilisation for road rehabilitation and bridge building has started and is expected to be finished in by the end of May\n· ESG programmes expanding, including providing support for the growing local economy\n \nFocusing on higher grade sulphide zones\nThe Company has mined over 6,500 tonnes of oxide ore at an average grade of 3%, as measured by our geologist using a handheld XRF, which is now available for sale. After surveying the Molulu copper grades and market, the technical team have decided to focus mining on the high-grade sulphide copper ore. This high-grade sulphide copper ore body will be exposed in the pits that have begun the dewatering process.\nTo illustrate why the Company is focusing on the sulphide zones, a grab sample was taken from the big pit that is currently being dewatered. This sample was analysed using a handheld x-ray fluorescent (XRF) and the copper result was 8.36%. For comparison purposes, copper head grades in mines in Chile, Peru, and Arizona are below 1% contained copper.\nDue to the much higher-grade sulphide copper ore, mining the sulphide zones has the potential to increase profitability by orders of magnitude above the oxide only mining. When the drilling programme...