Critical Resources Ltd (ASX:CRR) has reached a mutually agreeable outcome with the ministry of energy and minerals, Sultanate of Oman regarding licence fees for the ongoing exploration of Block 4 and Block 5 within the Sohar Copper Project in Oman.
The company holds a 51% interest in Block 4, a 65% interest in Block 5 and a 70% interest in two exploration licence applications near Block 10 to the west of Blocks 4 and 5 at the project.
The Sohar Copper Project covers 1,006 square kilometres of the copper-rich Ophiolite belt, proven to host clusters of relatively high-grade VHMS copper deposits.
Sohar Resource
The Sohar Project holds a JORC resource of 819,000 tonnes at 3.4% copper for 28,000 tonnes of copper metal, with high-grade VMS style deposits and a large exploration area, within a well-established mining region.
Notably, the ores within high-grade VHMS deposits are metallurgically simple and contain gold and silver credits.
Block 5 is a high-grade, near-surface, copper plus silver and gold resource.
About CRR
Critical Resources is an emerging base metals and lithium exploration and development company headquartered in Perth, Western Australia.
The company is focused on the exploration, development and advancement of its base metals asset in NSW, copper asset in Oman and suite of hard rock lithium assets in Ontario, Canada.