REG - Critical Mineral - High Grades Confirmed at Anzar

Critical Mineral ResourcesAnnouncement

05/10/2023 07:00

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RNS Number : 7426O  Critical Mineral Resources PLC  05 October 2023

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

 Sample  Copper  Silver    Notes
 01      2.11%   32.0 g/t  Channel sample
 02      2.55%   40.0 g/t  Channel sample
 03      0.13%   8.0 g/t   Channel sample
 04      10.65%  160 g/t   Channel sample
 05      40.12%  272 g/t   Hand sample
 06      11.21%  80.0 g/t  Channel sample
 07      1.02%   8.0 g/t   Channel sample
 08      3.22%   8.0 g/t   Channel sample
 09      0.39%   8.0 g/t   Channel sample
 10      15.7%   160 g/t   Channel sample
 11      0.31%   8.0 g/t   Channel sample

 

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."

For further information, please contact:

 

 Critical Mineral Resources plc           info@cmrplc.com (mailto:info@cmrplc.com)

 Charles Long, Chief Executive Officer
 Novum Securities                         +44 (0) 20 7399 9425

 Jon Belliss
 Hudson Sandler (Financial PR)            +44 (0) 207 796 4133

 Charlie Jack

 

 

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).

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