Critica Limited (ASX:CRI) has uncovered high ratios of sought-after magnet rare earth oxides (MREO) in drilling intersections at the company’s broader Brothers Project, which includes the Jupiter Project, in Western Australia.
Regional, reconnaissance-style drilling identified broad zones of “high-grade” rare earth mineralisation 40km to the east of the Jupiter Project, with results returning up to 34% MREO, including significant values of dysprosium and terbium.
Dysprosium is a rare earth metal used in nuclear reactor control rods due to its relatively high neutron absorption cross section. The metal has also been used in the manufacture of laser materials and phosphorus activators.
Terbium is used in green phosphors in fluorescent lamps, computer monitors, and TV screens that use cathode-ray tubes.
Both rare earths are critical elements in the make-up of neodymium-iron-boron magnets needed in EV drivetrains.
This high ratio of MREO to total rare earth oxides (TREO) came from an intersection of 46m @ 1,675 parts per million (ppm) TREO, including 6m @ 3,541ppm in hole BRA316.
The highest TREO result came from drillhole BRAC327, which returned 16m @ 2,656 parts per million (ppm) total rare earth oxide (TREO) including 8m @ 4,256ppm TREO, comprising up to 22% MREO.
Managing Director Philippa Leggat says the latest results show the potential of the broader Brothers Project, which now encompasses more than 1,353km2 of tenure.
“The high ‘strike rate’ we are seeing from such broad spaced, first-pass, regional drilling is particularly pleasing,” Leggat says.
“Having had such great success for our drilling at Jupiter, the team is excited to see satellite discoveries starting to emerge around the project.”
To date, 64 aircore holes have been drilled, with assay results pending for 48 holes.
Critica Limited was formerly known as Venture Minerals, but rebranded on 12 September after securing shareholder approval at a general meeting during August.
Leggat said the new name reflects the company’s focus on discovering and developing critical mineral deposits to feed global demand for the minerals that are vital to modern technology and the green energy transition.
The rebrand also follows the acquisition of the remaining 30% interest in the Jupiter Project from its joint venture partner Merchant Ventures.
The Jupiter Project is a clay-hosted rare earths asset that was discovered in late 2023. It strategically lies within an existing mining precinct in the Yalgoo region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Critica Limited
