Critica (ASX:CRI) is preparing to begin a comprehensive drilling campaign targeting two large satellite prospects at its Brothers Clay-Hosted Rare Earth Project in Western Australia.
This comes after the junior explorer, which has a market capitalisation of $40.3 million, received drilling approvals for the prospects.
Initial drilling of five satellite discoveries, located near Critica’s flagship Jupiter deposit, returned results of up to 34% magnet rare earth oxides (MREO) and overall grades of up to 8m @ 4,256 parts per million (ppm) total rare earth oxides, within broader zones of clay-hosted rare earth mineralisation
The two main satellite prospects, Aurora and Juno, that will be the focus of this next round of drilling showed elevated levels of key heavy rare earths – including dysprosium, terbium and yttrium – within several of the discovery holes.
Managing Director Philippa Leggat says results of this quality demand prompt follow-up drilling.
“We’ve planned a low-cost aircore drilling campaign which is designed to establish the potential of the Aurora and Juno prospects to host wider-spread elevated levels of the heavy rare earths that were identified in select discovery drill holes,” she says.
Up to 50% of the drilling costs of the program will be covered by the Western Australian Government under its Exploration Incentive Scheme (EIS).
“Our aim is to add to the already-impressive rare earth endowment delineated at Jupiter, at the same time as potentially further enhancing total grade, percentage MREO content, and proportional heavy REEs contribution,” Leggat says.
“If successful, this is naturally expected to amplify the underlying strategic value of the broader Brothers Project. It would also further enhance critical optionality when it comes to evaluating future potential processing and development scenarios.”
Critica describes Jupiter as Australia’s largest and highest grade clay-hosted rare earth resource.
The inferred resource sits at around 1.8 billion tonnes @ 1,651ppm, which includes a high-grade component of 520 million tonnes @ 2,169ppm. The current resource hosts over 280,000 tonnes of heavy rare earths.
Leggat says Critica is well funded to continue advancing key work programs, having recently received a payment of $1.05 million from the Australian Tax Office under the Research and Development Tax Incentive Program for 30 June 2024, along with the EIS grant.
“Our beneficiation testwork also continues, with work advancing in parallel towards producing an initial mixed rare earth carbonate with results anticipated throughout the year,” she adds.
Critica is presenting at this week’s RIU Sydney Resources Round-up being held from 6-8 May at the Hyatt Regency Sydney. Mining.com.au is a media partner of the event.
Write to Angela East at Mining.com.au
Images: Critica
