Critical Metals Corp Initiates Drilling Program in Greenland to Meet Western Demand for Rare Earths

Critical Metals Corp (Nasdaq: CRML) has announced the commencement of a 2000m resource diamond drilling program at the Tanbreez Rare Earth Project in Greenland. This initiative is part of the company's strategy to enhance the Mineral Resource Estimate (MRE) and support the Bankable Feasibility Study (BFS), with the goal of commencing commercial production by 2026. The project is critical for supplying rare earth materials to the United States and the Western world, where demand is growing for these essential components in defense, clean energy, and next-generation technologies.

CEO Tony Sage emphasized the importance of the drilling campaign in accelerating the Tanbreez project towards production. The program aims to significantly increase the current MRE, which stands at an indicated resource of 8.76Mt and an inferred resource of 13.8Mt. The first drill hole has already shown promising results, with core samples indicating a 30%-40% composition of eudialyte, a mineral rich in rare earth elements.

The drilling program is focused on extending the resource to the east of the existing Fjord Deposit and along the strike of the kakortokite host rock. Critical Metals Corp has engaged 60 North Greenland, a seasoned drilling contractor, and a team of renowned rare earth geologists to lead the exploration efforts. The company is on track to deliver final reports by Q4 2025, which will be crucial for regulatory approvals and securing financial partnerships, including with the Export-Import Bank of the United States.