Critical Mineral Resources plc plans further exploration following positive initial prospecting at Ifri in the Anti-Atlas, Morocco.
DEPTH
The project demonstrated copper and silver in multiple shear zone and quartz vein structures with some structures containing gold mineralisation.
Channel sample assays include 3.1% copper and 17 g/t silver, 1.95% copper and 15 g/t silver, and 0.86 g/t gold and 21 g/t silver.
Ifri lies in the Saghro Massif mining belt and less than 5km from the Tagmout copper-silver mine and nearby “industrial scale and artisanal underground gold mining”.
CMR said that existing mines were targeting the quartz structures with gold grades in the region “known to improve at depth”.
The company will use net proceeds from its recent fundraise for systematic exploration including detailed mapping, geochemical surveying, geophysics and drill-target generation.
Chief executive Charlie Long added: “We are very excited about the Ifri project and its potential to host both copper-silver and gold deposits.
“We are encouraged by the numerous mines in this belt, several of which are intrusion-related deposits, and therefore the region’s strong potential for large scale discoveries.
“At Ifri, we will be targeting both mineralised structures near the surface and richer sources of copper, silver and gold at depth”.
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