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Australian Critical Minerals Set to Hit the Market at a Critical Time

6 June 2023 11:55
ASX: ACM
As critical and battery metal exploration heats up globally, the soon-to-list company is set to help fulfil the growing demand for the metal necessary for decarbonisation.

As companies and governments around the world scramble to secure a supply of metals critical to their zero-carbon emission ambitions, a number of new explorers have entered the game hoping to satiate the growing hunger for these critical metals, and with its strong portfolio in a tier one mining jurisdiction, soon to list Australian Critical Minerals is looking to be a compelling new player in this burgeoning industry.

Fulfilling a Critical Metal Need

Australian Critical Minerals’ entry to the ASX couldn’t come at a better time, with lithium recently seeing a 67.61% surge on the commodity market as the battery-critical metals defied speculator expectations when data revealed that both sales and outputs for NEVs in China skyrocketed 110 per cent in April.

This demand is set to continue growing, with a recent report by the International Energy Committee positing that for the world to meet critical metal demand for a number of future technologies, the output of the critical mineral and battery metal supply chain will have to increase ten-fold.

Australia is set to become the frontline in this battle to secure supply for these industries critical to our future, with the lucky country currently being the primary critical metal supplier for US automotive companies, giving the companies hunting for these critical metals is the mining-friendly country a massive opportunity to join this burgeoning market.

Promising Projects

Australian Critical Metals’ portfolio is prospective for lithium, REEs, iron ore, gold and kaolin, comprising a massive 1,861 square kilometres over six projects located in one of the world’s most envied mining jurisdictions, Western Australia.

Located in the same region as Pilbara Minerals’ 259Mt @ 1.17% Li2O Wodgina and 223Mt @ 1.25% Li 2O Pilgangoora Projects, and Global Lithium’s 18Mt @ 1% Li2O Marble Bar Lithium Project, is the explorer’s flagship Cooletha Project, which is made up of over 100 square kilometres of the wildflower states legendary Pilbara region.

The Project is possibly the largest new spodumene-bearing pegmatite package in this emerging lithium region, hosting mapped pegmatite dyke swarms over a 30km strike which are potentially fertile for spodumene.

The Company is now in the advanced stages of planning an extensive exploration campaign for the compelling project, with a mapping and sampling program already underway to determine potential drilling targets.

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Figure 1: Map detailing Cooletha, Shaw and the surrounding projects.

Alongside its lithium potential, Cooletha is also highly-prospective for iron ore, hosting a number of high-grade iron ore targets over 400 square kilometres including over 20 kilometres of iron ridges which have all shown an average Fe grade of 56%, with the Project also in proximity of the Shaw Project which offers the explorer an additional >5km of iron exploration targets.

A Rare Opportunity

The Company is also rapidly closing in on the REE potential of its Rankin Dome Project, already planning an extensive drill project to kick off shortly after the company lists later this month, having secured permission to put the drill to the 331 square kilometre project.

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Figure 2: Map detailing Auger samples taken from Rankin Dome

The Project contains a high potential for a significant rare earth discovery, hosting an over eight square kilometre total rare earth oxide anomaly, with 74 per cent of the samples taken in an auger sampling program showing grades above 115 TREO up to a peak grade of 1080ppm TREO.

The Company has already earmarked the project for two separate drilling campaigns comprising 40 holes each testing for ionic clays and bedrock-hosted REE models with infill drilling and expansion beyond the current REE near-surface anomaly expected after.

Looking Forward

The Company has just closed its IPO and is expecting to list by the end of this month, with drilling at Rankin Dome set to begin shortly after.

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