Australian Critical Minerals (ASX:ACM) has gained shareholder approval to acquire Circuit Resources, a privately held business with precious and base metal projects in Peru.
In June 2025, the company entered into a binding share purchase agreement to acquire Circuit’s six projects considered prospective gold and copper, as well as silver, lead, and zinc.
As Mining.com.au reported, Australian Critical Minerals will issue 45 million shares to Circuit shareholders, as well 5 million quoted options exercisable at $0.30 on or before 28 June 2026.
The company has indicated it will conduct NSAMT geophysics to refine silicification at depth and obtain an initial drill permit at the Flint Project in the next three months.
Additionally, Australian Critical will continue advancing geological mapping and sampling at the group’s Riqueza and Cerro Rayas projects with drilling expected to take place in Q2 2026.
Managing Director Dean de Largie says Peru is among the world’s premier mining regions – rich in copper, silver, zinc, and gold.
“What makes this so exciting is how ready we are to move,” de Largie says.
“Several are already drill-ready, with Flint first in line. Permitting is well advanced there and the geology points to significant high-sulphidation gold potential. Flint is only the beginning.
“Projects like Riqueza and Cerro Rayas follow close behind, giving us a strong pipeline for continuous exploration and newsflow. Our goal is straightforward: advance these projects methodically and create lasting value.”
Peru is ranked second in the world for zinc production, totalling 1.3 million tonnes per year, as well as third in the world for copper and silver, totalling 2.7 million tonnes and 3,000 tonnes per year, respectively.
Further, Peru is also ranked fourth in the world for lead production totalling 250,000 tonnes per year.
Australian Critical Minerals says it is uniquely positioned to capital on strong global demand for gold, copper, base metals, and lithium.
Write to Aaliyah Rogan at Mining.com.au
Images: Australian Critical Minerals
