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Finance Investment, Oil Mining Resources

Critical Minerals Group Limited (ASX:CMG) – Significant Increase to Lindfield Project Mineral Resource Estimate Following Recent Drilling Campaign

Critical Minerals Group Limited (ASX:CMG) 2 mins read

Critical Minerals Group Limited (ASX:CMG), a battery metals company focused on meeting the demand for minerals critical to ensuring a carbon neutral future, is pleased to provide a new Mineral Resource Estimate (MRE) for its flagship Lindfield Project.The Lindfield Project, a rapidly advancing mineral exploration project, has reported a remarkable 96% increase in its Mineral Resource Estimate (MRE), now totaling 713 million tonnes. This achievement stems from the success of recent drilling activities, revealing the true potential of the project's mineral wealth.

Key highlights of the updated MRE include:

  • Significant Increase in Vanadium Resource: The Lindfield Project’s vanadium resource saw substantial growth, now containing 0.32% V2O5 and expanding by 96% to reach 713 million tonnes. This impressive figure marks a major step forward, with much of the mineralization located near the surface, allowing for efficient extraction.

  • Enhanced High Purity Alumina (HPA) Feedstock: The addition of the TLBA horizon to the resource base has elevated the project's high-purity alumina (HPA) potential, yielding 3.4% Al2O3 throughout the mineralized material. The increased feedstock further strengthens the project's prospects for future growth.

  • Molybdenum By-product: As a by-product of the hydrometallurgical circuit, the Lindfield Project has secured 130 g/t of molybdenum, providing additional revenue streams and enhancing overall project economics.

The inclusion of the TLBA horizon marks a significant step in maximizing the Lindfield Project’s resource potential. Its strategic location near the surface is expected to simplify mining operations and deliver robust economic returns.

The Company’s Managing Director Scott Winter commented on the upgraded MRE,

“It’s a credit to the technical team and the partners we work with in the development of the Lindfield Project, that we have been able to announce a significant upgrade to the Lindfield Project Mineral Resource Estimate. Not only have we been able to increase the mineralised material estimate of vanadium and associated high purity alumina (HPA) but we have now added molybdenum to the resource estimate. The upgrade to 713 Mt marks a 96% increase and is largely as a result of the inclusion of the TLBA mineralisation of the resource that sits at or near surface.”

“This upgrade in the resource has flowed from the drilling performed in Q3 2023, the finalisation of the scoping study on the Lindfield Project and the ongoing metallurgical test work that has been performed. The metallurgical test work highlighted the superior performance of the TLBA mineralisation in upgrading its concentration through the flotation. The test work and modelling also highlighted the buildup of molybdenum in the circuit to economic levels. With these inclusions, the overall planning, development and economics will be worked on further in the next phase of the feasibility studies. The improvements to be added will include lower waste removal volumes, lower strip ratio, increased mineralised material, increased mine life potential and the potential for an additional revenue source through the production of molybdenum.”

“With the reduction in overall waste this also brings an environmental benefit to the project with less waste dump requirements, less overall disturbance impact, and potentially lower rehabilitation costs. 

“We look forward to working these into the next phase of the feasibility study and continuing to investigate further opportunities as a result.”

 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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