Critical Mineral Resources (CMR), a British company listed on the London Stock Exchange that focuses on producing “clean energy metals” in Morocco, has secured four new mine exploration permits in Morocco’s Rabat and Beni-Mellal regions as part of the Meseta project, reported “Mining Weekly” on Wednesday.
The Meseta project, with three new permits spanning an area of approximately 80 km2 in a region known for copper, tungsten, tin, and lead-zinc deposits, is mostly promising for copper.
Since purchasing 80% of Atlantic Research Minerals (ARM) in June, the business has been expanding its portfolio of Moroccan metals and minerals projects.
In early September, CMR announced that it had been awarded the Ighrem project, which has potential for copper, oligiste iron ore, and manganese.
According to CMR, the Meseta project is easily accessible via cemented roads.
The major Meseta permit is on the same structural trend as Morocco’s ONHYM-managed Rhouirat N’Has tungsten/copper project and Aterian’s Zaer project.
CMR and its subsidiary ARM signed a contractual term sheet in September with the shareholders of SA Strategy, the owner of the Zagora cobalt project, to gain a stake in the project based on the achievement of specified objectives.
While the two organizations subsequently decided to end their partnership, they will continue to communicate and look for future chances to partner.
CMR’s CEO Charlie Long said, “Early indications give us confidence [Meseta] 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.”