Critical Mineral Resources granted new exploration permits in Morocco
Critical Mineral Resources has announced acquisition of new exploration permits in Morocco, further expanding their presence in the country.
The firm obtained four new exploration permits in Rabat and Beni-Mellal regions, covering approximately 80 km². Three of these permits are related to the Meseta project, primarily focused on copper potential. The Meseta project is located in the northern part of Morocco, 80 km from Rabat.
Meseta project
The project area is rich in mineralization, including copper, tungsten, tin, lead, and zinc. The main permit of the Meseta project is situated on the same structural trend as the Rhouirat N’Has tungsten-copper project managed by Morocco’s ONHYM and Aterian’s Zaer project.
The Meseta project is seen as an important addition to CMR’s portfolio, aligning with its strategy of targeting Moroccan assets capable of producing clean energy commodities. In September, CMR was granted exploration rights for the Ighrem project, which is prospective for copper, oligiste iron ore, and manganese. In June, the company acquired an 80% stake in Atlantic Research Minerals.
The company future plans aims to leverage its exploration permits to contribute to the production of clean energy commodities. Through its subsidiary Atlantic Research Minerals, CMR entered into a heads of terms agreement with S.A Strategy SARL to earn-in to the Zagora cobalt project in Morocco.
“We are delighted to add the Meseta project to our portfolio of exploration permits. 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 licences. 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,” said CMR CEO Charlie Long.
