Critical Mineral Resources PLC (LSE:CMRS, FRA:98J) this week reported further drilling results from its Agadir Melloul copper project in Morocco, with chief executive Charlie Long saying the latest work continues to demonstrate the scale and continuity of the mineralised system as the company advances towards development.
Speaking with the Proactive studio, Long said the latest drilling had extended the known mineralisation and increased confidence in the project's resource potential, even though individual drill results naturally vary in grade.
He explained that exploration success should be judged across the broader resource rather than on isolated drill holes, noting that the company's internal resource estimate currently contains approximately 25,000 tonnes of copper.
Here, we take a closer look at what was said when Long joined the Proactive studio.
Proactive: Charlie, very good to speak with you again. Let's start with the drilling. What do these latest results tell you about the potential at Agadir?
Charlie Long: The latest drill results show that the mineralised system continues in the areas tested. While grades vary, that's typical within an orebody. The important point is that the drilling expands the size of the resource. Exploration naturally includes barren holes, but the company is building a continuous, mineable resource. Internal estimates indicate approximately 25,000 tonnes of contained copper, and management remains confident despite variability between drill holes.
Proactive: You've said the project is moving from exploration into development. What does that actually look like on the ground, and how different is the business now compared to six months ago?
Charlie Long: The company is already carrying out development work before publishing its maiden JORC resource. Mining engineers are preparing for reserve work, while metallurgical testing continues. Consultants are advancing pilot plant work, process flow sheet design, processing plant location studies, tailings planning and water management. Although mine scheduling must wait until the formal resource model is complete, many important development activities are already underway.
Proactive: There's a lot coming over the next few months, including the maiden JORC resource and feasibility work. Which milestone will be the biggest step forward?
Charlie Long: The maiden JORC resource will be particularly important for institutions, specialist mining funds and development banks that require compliant resource estimates. Internally, however, the company already understands the project's potential and expects the resource to continue growing through further drilling.
Proactive: Charlie, I hope you continue to keep us updated with your progress. Thank you very much for your time today.
