Critica (ASX:CRI) is focusing on finalising the maiden mineral resource estimate for the Jupiter Project, which forms part of the broader Brothers Rare Earth Project in Western Australia.
Geological consultants SRK Consulting have been engaged to complete the maiden MRE for Jupiter, which will be reported in due course.
In conjunction, the $26.72 million market capitalisation company is advancing ongoing metallurgical testwork.
Managing Director Philippa Leggat says the company’s technical team made the discovery at Jupiter, meaning that all exploration data is wholly owned and Critica has not had to rely on historical information of other parties.
“This delivers us a high degree of confidence in the quality of the drilling dataset that has been provided to SRK Consulting and the resulting robustness of the pending maiden MRE for Jupiter,” Leggat says.
“We are in an excellent financial position. Having funding secured through 2025 allows us the opportunity to advance Jupiter, and the broader Brothers Project, with a view to it becoming one of Australia’s most significant, clay-hosted rare earth discoveries.”
This news comes after Critica received the final assay results from mineral resource drilling, which targeted high-grade zones at Jupiter.
Critica says the latest results continue to confirm that the “high-grade” rare earth mineralisation at Jupiter shows continuity.
Leggat notes that given Jupiter’s economic potential, the company decided to complete an infill drilling program focusing on enhancing the certainty of the upcoming MRE.
The Jupiter Project is strategically located within the Mt Magnet and Yalgoo district of Western Australia.
Critica is a mineral explorer focused on discovering and developing clay-hosted rare earths projects in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Critica
