Critical Mineral Resources PLC (LSE:CMRS) said initial exploration work has started at its Igli project in Morocco following recent reconnaissance visits.
The Phase 1 work programme includes detailed geological mapping to 50m spacing, locating silver, copper and other economic mineral showings, rock chip, channel and stream sediment sampling and high-resolution satellite imagery.
Charlie Long, CMR’s chief executive, commented: “Samples collected during our visits in January and July returned very high-grade silver and good copper assays, which along with Igli's location near two important mines, gives us reason to be excited.
“The recent funding will allow us to systematically explore the property, building up a high quality, valuable, database which will more importantly generate drilling targets.
“We continue to see new and negotiate on other significant opportunities, including those which can be brought into production relatively quickly.”