Modern Mining February 2024

Situated on a tenement of just 16 acres, the Molulu project, located some 98 kilometres north of Lubumbashi in the Katanga territory, about 30 kilometres northwest from the village of Malambwe, is currently being mined concurrently with the com pany firming up the resource. Critical Metals has two diamond drill rigs operating onsite and is waiting on the results of the drilling programme. “In May, June and July, of 2023, we conducted IP induced polarisation and geophysics which delivered outstanding results, including identifying anomalies that were 100 metres deep and 200 metres wide. What is interesting is that the geophysics identi fied ore body outcrops on-surface in several areas. As such, we have an intensive drilling programme planned to verify the initial results,” says Fryer, who

largely against the Chinese and Indians and, to a lesser extent, the Russians, but now, there are many more nationalities chasing the assets in the critical metals space.” Molulu Project The cash generative Molulu Project, a medium scale copper/cobalt asset, is located in the Democratic Republic of Congo’s highly prospective Katangan Copperbelt. Critical Metals holds a 70% stake in the Molulu Project, which was mined by artisans prior to 2018 with the ore sold into the local market. Fryer’s appetite to be cash generative sees the miner “doing things a bit differently, i.e., mining while simultaneously firming up the resource.”

Bridge development underway at the Molulu Project.

Team inspecting and weighing soil samples from the Molulu Project.

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