Critica reckons there is every chance its metallurgists will crack the last piece of the code to deliver a low-cost processing solution.
Adding to its rare earths inventory, the company is also now looking at a potential second income stream from Jupiter. Initial beneficiation work using wet low-intensity magnetic separation recovered 64 per cent iron concentrate, hinting at a valuable by-product opportunity that could improve the project’s economics.
Jupiter’s lease is well placed, just 50km southwest of Mt Magnet and 300km from the Port of Geraldton. The grounds are crisscrossed by a main highway linking the two hubs and run alongside the Mid West gas pipeline, which all gives the project a logistical leg-up.
Adding to the appeal, Critica’s ground sits within striking distance of Lynas’ Mt Weld processing plant and Iluka’s upcoming Eneabba refinery – two rare earth powerhouses that could offer a highly attractive toll treatment solution down the line.
Meanwhile, the hunt for rare earths is far from over. Jupiter is just one piece of the puzzle within Critica’s broader Brothers REE project – a province-scale play with multiple satellite targets already returning promising early results.
Earlier this month, Critica fired up the rigs on a string of juicy satellite targets stretching across more than 8km, including the Juno and Aurora prospects, which are both a stone’s throw from the main Jupiter deposit.
Previous drilling at Juno already dished up a tasty teaser, with standout hits such as 8 metres going 4256ppm TREO and an impressive 34 per cent magnet rare earths.
With a globally significant deposit, surging demand for non-Chinese supply chains and metallurgical testing in full swing, the market will no doubt be watching closely as test work ramps up and Critica moves to unlock the full potential of one of Australia’s most significant critical minerals finds.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
