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Critical Mineral Resources PLC on Monday hailed ‘excellent’ results from its maiden core drilling programme at Agadir Melloul. The exploration and development company focused on clean energy metals in Morocco said the drilling programme confirmed a ‘significant new, shallow copper discovery.’ The deposit supports low capital expenditure and a rapid development pathway, with the potential for open-pit operations, the company said. With a target to construct the initial mine during 2027, the company said it will ‘immediately’ commence a feasibility study and environmental impact assessment for the processing plant. CMR said it remains on track to deliver a maiden resource by the late second-quarter to early third-quarter of 2026. Chief Executive Charlie Long said: These excellent results have surpassed our expectations. We are seeing broad zones of consistent, high quality copper mineralisation in a very shallow setting, with multiple intercepts over four metres. This is a brilliant outcome, and the initial mine and strategic resource strategies are both on track. ‘It is particularly exciting that we have drilled less than 1% of our 50 kilometre-square sedimentary target, and geological evidence points to a large, mineralised copper system that extends across the project area. This positions the project as a scalable, district level opportunity, and we expect continued drilling to deliver a steady flow of excellent assay results as we build towards an extensive resource.’ Shares in CMR fell 6.6% to 3.78 pence on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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