REG-Critical Mineral Resources Plc: Drilling update

Critical Mineral ResourcesAnnouncement

03/02/2026 07:02

3 February 2026

 

 

 

Critical Mineral Resources Plc

Drilling ramping-up following oversubscribed fundraise

 

Critical Mineral Resources plc (“CMR”, “Company”) is pleased to report
that following the recently completed and heavily oversubscribed fundraise,
diamond drilling with two rigs is ramping-up over the coming weeks as the
weather improves. Drilling during H1 is designed to produce Agadir Melloul’s
maiden resource estimate, targeted for publication in early Q3 2026.

 

Key Highlights
*            Accelerated drill programme at Agadir-Melloul          
*            Two diamond rigs ramping-up to two shifts per day each          
*            20 holes planned per month from mid-February          
*            Agadir Melloul’s maiden resource estimate targeted for Q3 2026
 

Fig.1 Company’s diamond rig at Agadir Melloul

   

Source: Company

 


Charlie Long CEO commented:

“With two rigs now turning, we anticipate an extremely productive drill
programme and for an internal maiden resource to be modelled by late Q2 and
for the JORC compliant resource estimate to be published in early Q3.

Drilling has been intermittent in recent weeks due to inclement weather. This
week both rigs are operating on day shifts, and once the weather improves
night shifts will be introduced. From then on we should be drilling 20 holes
per month equating to approximately 1,000m.

For a near-surface project like this, metres drilled is less important than
the number of holes drilled. Each hole will range from 20m to 50m depth, with
the occasional deeper hole to drill-test the basement as we continue the hunt
for mineralised rhyolite.

It’s worth reiterating that near-surface mineralisation is quite unusual and
a huge economic advantage in terms of opex, upfront capex, reserve development
capex and ongoing sustaining capex”.

 

ENDS

 

 

 Critical Mineral Resources plc  Charles Long,  Chief Executive Officer         info@cmrplc.com                                   
 Shard Capital LLP   Erik Woolgar  Damon Heath      AlbR Capital   Jon Belliss  +44 (0) 207 186 9952        +44 (0) 20 7399 9425  

 

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company
focused on developing assets that produce critical minerals for the global
economy, including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as being at the
start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and
development projects in Morocco, focusing on copper, silver and potentially
other critical minerals and metals. 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, good infrastructure and
attractive permitting, tax and royalty conditions.

The Company is listed on the London Stock Exchange (CMRS.L). More information
regarding the Company can be found at                      www.cmrplc.com

 4301549_0.jpeg  (https://news.cision.com/critical-mineral-resources-plc/i/4301549-0-jpeg,c3507173)  



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