Critical Mineral Resources Plc - Drilling Results

29 April 2026

   

 

 

Critical Mineral Resources Plc

Excellent copper grades, thickness and continuity of mineralisation at Agadir Melloul

 

Critical Mineral Resources plc (“CMR”, “CMRS” or the “Company”) is very pleased to report its first assay results from its 2026 drill programme at Agadir Melloul. As previously reported, drilling rates ramped up during February and March as the weather improved and CMR is now achieving a rate of approximately 1,200m per month, this drill programme is fully funded and expected to lead to a maiden resource by Q3 2026.

Going forward, CMR expects to release regular assay results once every four to five weeks.

The assay results reported today demonstrate consistent copper mineralisation including zones of excellent thickness and copper grade. In some areas, copper mineralised drill intercepts averaged approximately 5m true width, significantly above the Company’s average-width target of 2m. These near surface, high-grade results illustrate the opportunity for open pittable mining on this district-scale deposit.

 

Highlights

• Excellent drill results include:
  • 5.0m at 1.20% copper, 0.77g/t Au and 1.4g/t silver from 24m,
  • 3.7m at 1.76% copper and 8.6g/t silver from 6.3m, and
  • 4.0m at 1.20% Cu and 0.9g/t Ag from 18m.
• Sediment hosted mineralisation being delineated rapidly as the Company targets publication of its Maiden Resource Estimate during Q3 2026.
• Growth potential very significant with less than 3% of the project area drilled.
• Management maintains its base case medium term exploration target of 25 million tonnes ¹ .

 

 

¹  The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration or modelling work to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

² Traces of gold reported over >2m in holes BH11, BH15, BH17, BH118, BH119

 

Charlie Long CEO commented:

“These results continue to confirm a shallow, coherent copper system with widths and grades that are consistent with an open pit development scenario. Importantly, several intercepts exceed our initial thickness assumptions, which has positive implications for potential mining inventory and economics.

Our immediate focus is on systematically extending these and other zones ahead of a maiden resource in Q3, while advancing metallurgical work to validate processing assumptions. With less than 3% of the target area drilled, we see significant scope to grow both tonnage and confidence in the system"

 

Russell Tucker NED commented:

“We invested in Agadir Melloul and the CMR management team based on clear evidence of a near surface copper silver deposit with scale potential. Today’s drill results, alongside those announced previously, support our initial assessment. We are particularly encouraged by the thicker zones and the fact that only a fraction of the project has been drill tested”

 

Conversion shares

The Company has received conversion notices of 33,721,061 and 45,273,349 shares from strategic investors which shall result in our largest shareholder maintaining a 28.5% position. Of these shares, 35,121,879 are issued today with the balance and admission of the new shares to take place after our AGM, expected to be towards the end of June. The total number of voting rights in the Company is 376,699,158.

 

2026 development timeline

 

Competent Person Statement

The technical exploration and mining information contained in this announcement has been reviewed and approved by Mr. Robert Nigel Chapman. Mr. Chapman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Luna Recursos Naturales SAC, an independent geological consultancy established in 2014 and is a Member of the Australasian Institute of Geoscientists (A.I.G.) Mr. Chapman has visited Agadir Melloul and consents to the inclusion in this Announcement of such information in the form and context in which it appears.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

ENDS

 

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company focused on developing assets that produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities are widely recognised as being at the start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, silver and potentially other critical minerals and metals. CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, good infrastructure and attractive permitting, tax and royalty conditions. In 2023, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.

The Company is listed on the London Stock Exchange (CMRS.L). More information regarding the Company can be found at www.cmrplc.com