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WA's Jupiter Project: Huge Rare Earths Discovery
13 Jul
Summary
- Drilling confirmed high-grade rare earths at Critica's Jupiter project.
- Results support resource upgrade, potentially lowering capital intensity.
- Project aligns with global demand for critical minerals.
Critica Limited has announced significant findings at its Jupiter project in Western Australia, revealing further high-grade rare earth mineralisation. A comprehensive drilling program has confirmed the continuity of priority zones within the project's inferred resource. This success is crucial for an upcoming updated resource estimate, aiming to upgrade confidence categories and support the conversion of resources.
The drilling results, which include substantial intercepts of total rare earth oxide (TREO), indicate a resource that maintains its grade over considerable widths near the surface. This characteristic is favorable for the project's development, potentially leading to lower capital intensity compared to other rare earth deposits.
The Jupiter project's flat-lying, near-surface mineralisation is also recognized for its simpler metallurgy. This attribute supports Critica's strategic approach of early ore upgrading before further downstream processing. The data from this drilling will feed into an updated mineral resource estimate by SRK Consulting, which is a key component for the Jupiter scoping study due in the September quarter.
Critica's Jupiter project is noted as Australia's largest clay-hosted rare earth resource, offering valuable exposure to magnet rare earths, gallium, and yttrium. This aligns with the accelerating global demand for critical inputs driven by electrification and advanced technologies. Critica is strategically positioned to supply Western markets seeking non-China sources for these essential minerals.
