NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) -- Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, is pleased to publish for the first time, historical deep diamond drill holes DDH 306-13 drilled in 2013, and DX-02 drilled in 2010 from the Tanbreez Project in Greenland.
Highlights – New Diamond Drill Hole Historical Results
Drill Hole DX-02
drilled vertically to 195m from surface and intersected high - grade rare earths oxides averaging:
4211ppm (0.42% TREO) (“including averaged heavy rare HREO of 24%”),
0.91% ZrO2 “zircon oxide” cut off at 0.5%,
63ppm Ta2O5 “tantalum pentoxide”,
1293ppm Nb2O5 “niobium pentoxide”,
181ppm HfO2 “hafnium oxide”,
98ppm Ga2O3 “gallium oxide”,
Mineralisation average from surface to 195m downhole.
Drill DX-02 was collared approximately 505m to the east of the Hill Zone 22MT @ 0.38% REE Maiden Mineral Resource (13 March 2025 NAS News Release Maiden Resource 45MT @ 0.38% TREO).
Drill Hole D306-13
drilled vertically to 328m from surface and intersected high-grade rare earths mineralisation averaging:
4733ppm (0.47% TREO) (“including averaged heavy rare HREO of 28%”),
1.7% ZrO2 “zircon oxide” cut off at 0.5%,
2479ppm Nb2O5 “niobium pentoxide”,
Mineralisation average from surface to 328m downhole.
Drill collar approximately 400 m to the east of the Fjord 23.6MT @ 0.42% REE Maiden Mineral Resource (13 March 2025 NAS News Release 45MT @ 0.38% TREO).
Recent Diamond Drill Hole Results Highlights
Drill Hole A1-24
drilled vertically to 40m from surface and intersected high - grade rare earths and oxides averaging:
4,722.51ppm (0.47%TREO) (including 26.96% averaged heavy rare earth (” HREO”),
1.82% ZrO2 “zircon oxide”,
130.92ppm Ta2O “tantalum pentoxide”,
1852.22ppm Nb2O5 “niobium pentoxide”,
393.68ppm HfO2 “hafnium oxide”,
102ppm Ga2O3 “gallium oxide”.
Mineralisation average from surface to 40m downhole.
Drill Hole DX-01
drilled vertically to 338m from surface and intersected high - grade rare earths and oxides averaging:
4209.22ppm (0.42% TREO) (“including averaged heavy rare HREO of 24.45%”),
2.45% ZrO2 “zircon oxide” cut off at 0.5%,
73ppm Ta2O5 “tantalum pentoxide”,
1174.06ppm Nb2O5 “niobium pentoxide”,
266.45ppm HfO2 “hafnium oxide”,
103ppm Ga2O3 “gallium oxide”,
Mineralisation average from surface to 338m downhole.
DX-01 was collared within the Hill Zone 22MT @ 0.38% REE Maiden Mineral Resource (17 March 2025 NAS News Release 45MT @ 0.38% TREO).
Drill Hole D7-14
angle drilled at 60⁰ east to 243m from surface and intersected high-grade rare earths mineralisation averaging:
4437.54ppm (0.44% TREO) (“including averaged heavy rare HREO of 28%”),
1.78% ZrO2 “zircon oxide” cut off at 0.5%,
83ppm Ta2O5 “tantalum pentoxide”,
1496ppm Nb2O5 “niobium pentoxide”,
351ppm HfO2 “hafnium oxide”,
Mineralisation average from surface to 243m downhole
Commenting on the assay results, Tony Sage, CEO and Executive Chairman of the Company, said:
“It’s exciting to report more deep diamond drill hole results and outstanding assay results from historical deep drilling that may confirm higher tonnage potential that extends a lot deeper and wider than was originally expected for the Tanbreez Project.
“After recently announcing the MRE of ~45MT of REE’S @ 0.38% and the robust economic results from the Preliminary Economic Assessment for Tanbreez declaring the NPV of $US2.8 to US$3.6 billion on a 15% and 12.5% discount and an IRR of 180% before tax we are assembling a highly experienced team and moving quickly to the next major milestone measuring the true potential of the Tanbreez Project that is gaining significant interest from Western Governments.
“The team is now planning resource drilling to extend and grow the vast Tanbreez resource and mobilizing crew to Greenland in preparation for a series of exploration, mining and engineering surveys working closely with the Greenland Government and stakeholders in country which is now underway.”
Deep Drill Hole Results
The Company believes that the new deep hole results presents a compelling opportunity for the Company to increase the existing S-K 1300 report for the Tanbreez Project of 45MT (consisting of 19.5 million metric tonnes of inferred resource and 25.4 million metric tonnes of indicated resource) containing 0.38% REE over the Tanbreez Hill Zone and Fjord Deposit with infill and extension drilling between all historical diamond and RC drill holes (News Release reported on 17 March 2025, see Figure 2 and 3 and Table2).
Diamond drill holes DX-02 and D306-13 were drilled at significant depth for stratigraphic and mineralogical studies.
Today’s announcement reports assay results confirming deep highly mineralised TREO for each drill hole averaging 0.42% containing 24% HREE and 0.47% containing 28% HREE to depths of 195m and 328m for each drill hole contained within the vast Kakortokite 4.7 BT host rock, (See Table 1). The Company states that there is no guarantee the entire 4.7billion tonne host contains economic mineralization.
Both drill holes DX-02 and D306-13 results of contained average TREO of 0.45% including 26% HREE are almost identical for TREO, HREE and metal oxides including tantalum, niobium, zirconium, hafnium and gallium to the drilling results reported in drill holes A1-24, D7-14 and DX-01 with average TREO 0.43% with 26.9% HREE.
Drill holes A1-24, DX-01 and DX-02 were terminated into the basal rock unit in a Tephri -Phonolite named Black Madona that contained only background mineralisation.
Drillholes D7-14 and D-306-13 was terminated within mineralisation and further drilling will be required to confirm the true thickness beyond the 243m and 328m respectively.
Drill hole K-24 was drilled in December 2024 for confirmation deep drilling to 247m depth with assay results expected in late May 2025.
Gallium Results
Drillhole DX-02 contained 98ppm average gallium oxide, Ga2O3 mineralization from surface to 195m.
Drill hole D306-13 was not assayed for gallium, tantalum and niobium in 2013 and a new sample from existing pulp will be submitted to ALS Metallurgical in Perth in the coming month.
ALS Metallurgical will also assay existing sample pulp for gallium for the 2024 drill hole K-24, D306-14 and D7-014 with results that will be published in the coming months.
A direct correlation of average grades and consistency exists over considerable strike of approximately 2300m, at and at depth for bottom of hole DX-01 with an approximate width of 370m, (see figure 1 and 2).
Hence the correlation for the or gallium oxide mineralization results from DX-02 at 98ppm Ga2O3 to the diamond holes results for A1-24 and DX-01 reported 28 March 2025 were 101.7ppm and 102.2ppm respectively, may add a vital oxide credit to the TREO-HREO mixed concentrate adding to the project’s economic status.
Low Uranium Thorium Results
The uranium and thorium assays average for drill hole DX-02 is 18.67ppm and 55.3ppm respectively from surface to 195m. In drill hole D306-13 the Company has submitted pulp sample for assaying uranium and thorium for the first time and will publish results when they become available.
The uranium and thorium results for DX-02 correlate directly with drill hole results DX-01, A1-24 and D7-14 showing levels for combined uranium and thorium well below 80ppm indicating the homogenic nature for the Tanbreez Deposit (News Release 17 March 2025).
Drillhole collar positions for the new deep diamond holes DX-O2 to 195m, D306-13 to 328m with the average assay results from surface. The lengths between drill holes is approximately 1300 metres with a total distance from A1-24 to DX-02 of approximately 2320m in a straight line 1037m with a width of 372m width between DX-02 and D306-13.
Figure 1: Drillhole collar positions for the new deep diamond holes DX-O2 to 195m, D306-13 to 328m with the average assay results from surface. The lengths between drill holes is approximately 1300 metres with a total distance from A1-24 to DX-02 of approximately 2320m in a straight line 1037m with a width of 372m width between DX-02 and D306-13.
Stratigraphic Column The Company recently published stratigraphic cross section was originally drafted in 2014 (by the previous owner Rimbal P/L) to log the stratigraphy and to estimate the potential resource at depth by outlining the thickness into the mineralised Kakortokite host rock (see Figure 2).
The Company has now published a further stratigraphic cross section showing deep mineralization existing over 2.3km section from drill hole A1-24 to DX-02.
The cross section and drill hole assay results for the new drill hole data from DX-02 and D306-13 in conjunction with drill hole results from A1-24, D7-14 and DX-01, clearly indicates the distribution of continuous TREO, HREO and metal oxide mineralization and the potential for the Company to increasing the existing MRE for the Tanbreez Project.
The drill hole results for the reported drill holes to date have a consistent average grade of mineralisation for TREO of approximately 0.45% and containing an average 26% HREO for the 4 deep holes and shallower hole A1-24 spanning approximately 2300m length and 372m width with and significant depth of 338m.
Deep Diamond Hole intersections containing high grade TREO average mineralisation from surface to 195m vertical depth in hole DX-01, and to 338m vertical depth in D306-013. The approximate dimensions between reference points from B-D between drillholes DX-01 and D306-13 is 1300m in length and 372m width. The approximate dimensions between reference points A-D between drillholes DX-01 and A1-24 is 2076m in length and 372m width. The Mineral Resource Estimate for the Fjord and Hill Zone Deposits and drillhole intersections projects the current and potential mineralization through the kakortokite host rock.
Figure 2: Deep Diamond Hole intersections containing high grade TREO average mineralisation from surface to 195m vertical depth in hole DX-01, and to 338m vertical depth in D306-013.
The approximate dimensions between reference points from B-D between drillholes DX-01 and D306-13 is 1300m in length and 372m width.
The approximate dimensions between reference points A-D between drillholes DX-01 and A1-24 is 2076m in length and 372m width.
The Mineral Resource Estimate for the Fjord and Hill Zone Deposits and drillhole intersections projects the current and potential mineralization through the kakortokite host rock.
Resource Extension - Infill Drilling
The Company has applied to the Greenland MSLA for a Program of Works for the 2025 resource drilling programs targeting the increase to the current inferred and indicated 45MT MRE and extending the size of the Tanbreez Fjord and Hill Zone Deposits.
The applications with Greenland authorities are well advanced and the Company is preparing the 2025 field season with drilling and exploration teams preparing for mobilization in mid-to late June.
S-K 1300 Estimate Summary
TANBREEZ PROJECT
Mtonnes
TREO
ZrO2
Nb2O5
Tanbreez Hill and Fjord
Indicated Resource
25.4
0.37%
1.37%
0.13%
Inferred Resource
19.5
0.39%
1.42%
0.15%
Total
44.9
0.38%
1.39%
0.14%
Table 2: 2016MRE for Inferred and Indicated Resource Estimate
The Company recently announced its S-K 1300 for the Tanbreez Project of 45MT containing 0.38% TREO including 27% contained HREO plus rare metal oxides (see News Release 17 March 2025 and Table 2 and Figure 4).
The first stage of the priority resource drilling program will target the Fjord Deposit containing the 23 MT MRE footprint by extending drilling further to the north of the 16-diamond hole program from 2024.
The average target depth will be 40-50m drilling through the mineralized kakortokite bearing REE and metal oxides and 5m into the basal unit sanitizing mineralization from the uneconomic grade phonolite tephry phonolite unit.
Confirmation 2025 drilling will commence depending on satisfactory drill results from the 2024 program with the remaining 15 holes reporting due shortly.
The second stage of the priority resource drilling program will target the Hill Zone Deposit containing 22MT MRE area by infilling drill lines between D306 -13 and DX-01 and DX-02 and DX-01 on the east to west margins over the current MRE footprint.
The target depth will be limited to 150m targeting continuous mineralization to defined depth establishing a re-categorisation of inferred to indicated resource upgrade.
The Tanbreez Fjord and the Tanbreez Hill rare-earth mineral sites are hosted within a Kakortokite unit covering an area of approximately 5km x 2.5km, estimated at 4.7 billion tonnes of Kakortokite this does not indicate any certainty of hosting mineralisation
Figure 4 The Tanbreez Fjord and the Tanbreez Hill rare-earth mineral sites are hosted within a Kakortokite unit covering an area of approximately 5km x 2.5km, estimated at 4.7 billion tonnes of Kakortokite this does not indicate any certainty of hosting mineralisation
Next Steps
The Company is currently re-assaying historical pulps stored in Perth and Greenland from some of the existing 2007, 2010, 2013 and 2024 drill, rock chip and bulk sampling for confirmation and check assay reconciliation. The pulp will be analysed by ALS Metallurgical Laboratory in Perth Western Australia and the results will be published when they become available.
The Company continues evaluating all available data from the previous owner’s data base and will publish results upon third party and in-house consultation.
The Company has engaged an Independent Resource Consultant who will report on the 2025 Resource Drilling and Resource Upgrade with the potential of increasing the current 45MT MRE if economic mineralization is discovered on the extension resource drill program.
The Company is currently negotiating the engagement for suitable Feasibility Study Partners as a result publishing the Tanbreez Preliminary Economic Assessment with a robust financial outcome declaring a Net Present Value (NPV) of U$2.8 ~ U$3.6 billion at discount rate of 15% and 12.5% and an Internal Rate of Return (IRR) of 180% before Tax.
About Tanbreez
The Tanbreez Rare Earth Project is one of the world’s largest hard rock rare earth elements (REE) deposits, located in southern Greenland near the town of Quaqortoq. The project is notable for its high concentration of heavy rare earth elements (HREEs), which are critical for high-tech applications, clean energy, and defence industries. Unlike other major REE deposits, Tanbreez contains very low levels of uranium and thorium, making it more environmentally and politically viable.
Deposit Type: Kakortokite (a layered igneous rock rich in REEs)
Kakortokite Estimate: ~4.7 billion tonnes of REE-bearing mineralisation
Heavy REE Content: ~27% of Total Rare Earth Oxides (TREO)
Ownership: Acquired by Critical Metals Corp. and EUR 7.5% (2024)
Target drilling ongoing to achieve proven and probable ore reserves
Project Stage: is evolving from exploration to feasibility and predevelopment phases
Kakortokite host may not always contain any economic mineralisation of REE
Kakortokite
Kakortokite is a rare, layered igneous rock composed primarily of feldspar, eudialyte (a zirconium-rich silicate), and arfvedsonite (an iron-rich amphibole). It is notable for being a major host rock for rare earth elements (REEs), zirconium, and other critical minerals.
Major Occurrences: Ilímaussaq Complex, Greenland (including the Tanbreez and Kvanefjeld deposits), Lovozero Massif, Russia, Mont Saint-Hilaire, Canada.
Economic Importance: Rare Earth Elements (REEs): High concentrations of heavy REEs (HREEs), crucial for advanced technology, Zirconium & Hafnium: Used in nuclear reactors and aerospace, Low Uranium & Thorium: Unlike carbonatite-hosted deposits, Kakortokite has minimal radioactive elements, making extraction easier and more environmentally friendly.
The information in this announcement that relates to the exploration results and Mineral Resource for Tanbreez is based on and fairly represents information reviewed by George Karageorge, who is a Member of AusIMM. He has sufficient experience relevant to the style of mineralization and type of deposit under consideration.
Mr Karageorge is Principal of Geosan Consulting, and a Member of the Australian Institute of Mining and Metallurgy (AusIMM), is a geologist with sufficient relevant experience in relation to rare earth and rare metal mineralisation being reported on, to qualify as a competent Person as defined in the Australian Code for Reporting of Identified Mineral resources and Ore reserves.
Mr Karageorge consents to the use of this information in this report in the form and context in which it appears.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, clean energy transition, and next-generation technologies in the western world.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, without limitation, statements regarding the net present value and economic viability of the Tanbreez Project, the expected rare earth metal supply located in the Tanbreez Project, the timing and completion of additional studies and operations related to the Tanbreez Project, as well as financial position, financial performance, business strategy, expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “designed to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the “Risk Factors” section in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
