Critical Mineral Resources plc confirmed a potential new, district scale copper-silver play, following “extremely encouraging results” from inaugural core drilling at Agadir Melloul, central Morocco.
RHYOLITE
The company also plans to accelerate its programme with an additional rig, to drill multiple targets, at its 60% earn-in of the 80 km2 sedimentary hosted deposit.
“Exceptional” near-surface copper intercepts included 5.8 metres at 1.12% copper and 19 g/t silver.
Further returns exceeded the company’s expectations at 6.5m at 1.03% copper, 4.7m at 1.48% copper, and 6m at 1.4% copper and 31g/t silver from the newly identified rhyolite target.
“These results allow for a significant growth runway with less than 1% of the project area drilled,” said Critical Mineral.
“Ongoing mapping confirms a district wide mineralised envelope, consistent with our 25 million tonne initial exploration target.”
The shallow “tabular” copper deposit also suggests low capital expenditure and quick development through open-pit operations.
The company added that the rhyolite copper-silver discovery added a second, standalone “potentially large scale mineral system”.
An inaugural mineral resource estimate is expected during the first half of 2026, and the initial mine development is on course to break ground in 2027.
FAST TRACK
Chief executive officer Charlie Long said: “We are seeing broad zones of consistent, high quality copper mineralisation in a very shallow setting, with multiple intercepts over 4m.
“It is particularly exciting that we have drilled less than 1% of our 50km2 sedimentary target, and geological evidence points to a large, mineralised copper system that extends across the project area.
“Agadir Melloul is different from most copper development stories in the market.
“It combines true scale potential, shallow geometry with near surface setting, creating economically and operationally favourable mining conditions in an excellent jurisdiction.
“This gives us a pathway to delivering a fast tracked, near surface operation.”
Mr Long added that the rhyolite-hosted mineralisation target could transform Agadir Melloul into a “multi-deposit copper district, dramatically enhancing its long-term strategic value.”