Mentioned:
One of the most promising mining projects in the world is showing more validation that it could contain a meaningful amount of rare earth element supply for North America’s needs.
What’s happening:
- Critical Metals (NASDAQ: CRML) has announced more historical drilling results from their flagship rare earth element property the Tanbreez Project located in Greenland
By the numbers:
- Drill hole DX-02 was drilled vertically to 195 metres from surface and intersected high grade rare earth oxides averaging 4211 ppm of total rare earth oxide
- Drill hole D306-13 was drilled vertically to 328 metres from surface and intersected rare earth mineralization averaging 4733 ppm of total rare earth oxide
- Critical Metals also previously made waves when they announced their first S-K 1300 report on their Tanbreez Project which validated that there is 45M metric tonnes of resource of total rare earth material
Why it matters:
- The Tanbreez Project is widely considered to be one of the most important rare earth deposits in the entire world, which has come into significantly more importance following China’s restrictions around rare earth exports globally
Going deeper:
- Critical Metals has already been granted a mining license for the Tanbreez Project and has received all necessary approvals from the government of Greenland for advancing the property
- Rare earth elements have been under intense political scrutiny lately, which recently led the White House to launch a formal investigation into the potential risks of depending on foreign countries for the supply of rare earth elements and magnet production
