Critical Metals (CRML, Financial) has unveiled historical deep diamond drill data from its Tanbreez Project in Greenland. Drill holes DDH 306-13 and DX-02, initially drilled in 2013 and 2010 respectively, reveal promising assay results. These findings suggest a greater tonnage potential than initially anticipated, as the mineralization extends much deeper and wider.
The recent announcement follows the declaration of a Mineral Resource Estimate (MRE) of approximately 45 million tonnes of rare earth elements (REE) with a concentration of 0.38%. Alongside this, the Preliminary Economic Assessment for Tanbreez revealed a significant Net Present Value (NPV), ranging between $2.8 billion and $3.6 billion, based on discount rates of 15% and 12.5%. With an impressive Internal Rate of Return (IRR) of 180% before tax, Critical Metals is assembling a skilled team to further evaluate Tanbreez's potential, attracting notable interest from Western governments.
