Critical Mineral Resources PLC (LSE:CMRS) (CMR) has picked up four new exploration permits in Morocco.
The permits are located in the Rabat and Beni-Mellal regions, span 80 square kilometers and are prospective for copper among other metals.
The Meseta project, around 80 kilometres south of Rabat, is known for its potential in copper, tungsten, tin, and lead-zinc mineralization – with evidence of historical mining activity across various locations on the property.
This addition follows CMR’s June 2023 acquisition of an 80% stake in Atlantic Research Minerals and securing in September the Ighem project, with the company building up a portfolio of exploration interests in Morocco.
"We are delighted to add the Meseta project to our portfolio of exploration permits,” chief executive Charlie Long said in a statement.
“It fits CMR's stated strategy of targeting Moroccan assets with the potential to produce clean energy commodities.
“While we continue to develop our opportunities for cash generation from earn-in with near-term production assets such as Anzar, Meseta is an important addition to our incubator portfolio of licenses.”
Long added: “Early indications give us confidence it has copper development potential.
“We are pleased to provide our investors with additional exposure to copper projects and the significant value we believe they and copper hold for the long term".