Critica to test big new REE targets at high-grade WA project

The program has also received a funding leg up after Critica successfully applied for a WA Government’s minerals Exploration Incentive Scheme grant, which the company expects will cover up to half of its planned air core drill costs.

Critica Limited managing director Philippa Leggat said: “We’ve planned a low-cost air core drilling campaign to establish the potential of the Aurora and Juno prospects to host wider-spread elevated levels of the heavy rare earths than were identified in select discovery drill holes. Our aim is to add to Jupiter, at the same time as potentially enhancing total grade, percentage magnet rare earth content and a proportional contribution of heavy rare earths such as dysprosium, terbium and yttrium.”

Critica says beneficiation tests are ongoing at its Jupiter deposit, meanwhile, with the company also working on producing an initial mixed rare earth carbonate ahead of results expected throughout the year.

The company recently revealed that by using a simple flotation process it had managed to convert a representative sample of Jupiter’s mineralisation with an initial grade of 1430ppm TREO into a remarkable high-grade concentrate of 13,310ppm TREO.

When 94.5 per cent of the material was removed, the remaining concentrated product still ran at an impressive REE recovery rate of more than 50 per cent without being further optimised.

Critica says it remains well funded to make progress on all fronts with nearly $5 million in its coffers at the end of March, together with a recently banked $1M R&D refund cheque.

With China’s grip on rare earth exports tightening and the West scrambling for alternatives, Critica’s run appears well timed. If its heavy rare earth hits hold up, Critica could find itself sitting on the largest – and one of the most strategically important – clay REE resources in the country.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au