What's Happening?
Critica has commenced an air core drilling program at the Jupiter Rare Earth Project in Western Australia's Yalgoo mining district. This initiative is part of an ongoing scoping study aimed at upgrading key areas of the existing inferred mineral resource
to the indicated classification. The Western Australian Government's Exploration Incentive Scheme is co-funding 50% of the drilling and mobilization costs, which helps advance the project's potential while reducing capital expenditure. The drilling program involves approximately 143 air core holes over a 7,000-10,000m area on a 125m x 125m grid, targeting priority zones identified through previous optimization studies.
Why It's Important?
The Jupiter Rare Earth Project is significant due to its potential to enhance the supply of critical minerals, which are essential for various high-tech and green technologies. By upgrading the resource classification, Critica aims to improve the project's viability and attract further investment. The co-funding from the Western Australian Government underscores the strategic importance of developing domestic rare earth resources to reduce reliance on imports, particularly from China. This initiative aligns with broader efforts to secure supply chains for critical minerals, which are vital for economic and technological development.
What's Next?
As Critica progresses with its drilling program, the company plans to update the mineral resource model with new data, supporting its integration into the scoping study. The results of this study will inform future development plans and potential partnerships. Additionally, regional drilling at the broader Brothers Project aims to assess potential resource growth beyond Jupiter's current footprint. The success of these efforts could lead to increased production capacity and further exploration activities, contributing to the global supply of rare earth elements.
