- Critical Metals Corp (CRML, Financial) unveils high-grade rare earth elements from Tanbreez Project.
- Eleven deep drill holes show weighted average grades of 0.43% TREO with 28% HREO plus 1.44% ZrO2.
- Company plans to double its Maiden Resource Estimate from 225MT to 500MT, with strong project economics.
Critical Metals Corp (NASDAQ: CRML) has announced promising results from diamond drilling at its Tanbreez Project in Greenland, highlighting significant rare earth element (REE) concentrations. The latest findings from eleven deep drill holes reveal weighted average grades of 0.43% Total Rare Earth Oxides (TREO) with an impressive 28% composition of Heavy Rare Earth Oxides (HREO) and 1.44% Zirconium Oxide (ZrO2).
This discovery is a major step in the company's efforts to expand its current resource base. Critical Metals Corp aims to boost its existing Maiden Resource Estimate from 225 million tonnes (MT) to a potential 500MT exploration target. The current MRE highlights approximately 45MT at 0.38% TREO for the eudialyte component alongside 180MT of industrial mineral by-products.
Economic projections for the Tanbreez Project are notably strong, suggesting a net present value (NPV) between US$2.4 billion and US$3.0 billion, with an internal rate of return (IRR) of 180% before tax. Critical Metals Corp holds a 42% stake in the project, with a provision to increase it to 92.5%, providing substantial control over this strategic asset.
Strategically positioned for its 2025 drilling campaign, the company is also re-assaying historical samples to confirm and refine its resource estimates. The combination of high-grade REE results and robust economic potential underscores the Tanbreez Project's significance in meeting the global demand for critical materials, particularly in clean energy and defense sectors.
