“Exceptionally” high copper and silver grades from channel sampling results along with the discovery of new mineralised layers have been reported at Anzar, central Morocco.
SAMPLING
Critical Mineral Resources plc (CMR) said that of a total 11 samples taken from random locations at three different historical mining sites, several returned “significantly higher grades than expected”.
The best result from a channel sample over 1.2 metres assayed 15.7% copper and 160 g/t silver.
A hand sample returned 40.12% copper and 272 g/t silver, but as it was selected for its clearly visible high-grade copper mineralisation it is not representative of the deposit’s average grade.
The company added that the findings indicated a “consistently elevated silver content” which should enhance the project’s economics and valuation.
FAST TRACK
Fieldwork has also revealed at least four new outcropping locations and identified three sedimentary layers of mineralisation.
The previously unknown outcrops will help to direct future trenching and drilling, while the multiple layers increase the potential size of the deposit.
Chief executive officer Charlie Long said that the company had expected good grades but four samples had “significantly” exceeded expectations.
“Our decision to invest in Anzar looks extremely positive.
“We believe that Anzar has the potential for fast-track development, in part due to its high-grade characteristics.
“Leveraging our team’s mine construction and operational expertise in Morocco, along with the successful track record of small-scale copper flotation plants in the region, we will prioritise this option to generate early cash flow for the benefit of our company and its valued shareholders.”