Critical Metals Corp Signs $2mln Diamond Drilling Contract in Greenland.

Critical Metals Corp has signed a $2 million diamond drilling contract with 60 Degree North Greenland to increase the resource size at the Tanbreez Project. The drilling program, expected to commence next month, will focus on infill and extension drilling targeting. The news follows an announcement of a $120 million non-dilutive funding package from the US Federal Government Bank for the development of Tanbreez.

Critical Metals Corp (Nasdaq: CRML), a leading critical minerals mining company, has signed a $2 million diamond drilling contract with 60 Degree North Greenland to increase the resource size at its Tanbreez Project. The drilling program, set to commence next month, will focus on infill and extension drilling targeting further resources to the east of the existing Fjord Deposit. The drilling will target areas extending approximately 700m and 650m along strike of the North-East to South-West kakortokite host rock, with vertical drill holes ranging from 80m to 250m in depth [2].

This significant development follows a recent announcement of a $120 million non-dilutive funding package from the U.S. Federal Government Bank (EXIM Bank) for the development of Tanbreez. The funding is expected to help complete necessary technical and economic studies, pre-production activities, and commence mining at the project [3].

The drilling program aims to enhance the numbers for the Company's upcoming definitive feasibility study, which is expected to be completed by the end of 2025. The program will also finalize and enhance the current pit design and fulfill expenditure requirements on the license [1]. This structured approach to resource expansion suggests management is executing a well-planned development strategy.

For rare earth projects, demonstrating larger resources can significantly enhance project viability, as economies of scale are crucial in this capital-intensive sector. The Tanbreez project appears to be targeting kakortokite host rock, which is known to contain valuable rare earth elements needed for high-tech applications and green energy technologies [2].

Investors should watch for the actual drilling results to confirm the anticipated resource growth. The systematic approach of conducting infill and extension drilling is a textbook resource expansion strategy that could substantially increase the project's mineral inventory.

References:
[1] https://finance.yahoo.com/news/critical-metals-corp-signs-infill-123000935.html
[2] https://www.stocktitan.net/news/CRML/critical-metals-corp-signs-infill-diamond-drilling-program-to-3kawgyhkwpel.html
[3] https://www.globenewswire.com/news-release/2025/06/16/3099747/0/en/Critical-Metals-Corp-Secures-US-120-000-000-LOI-for-a-15-Year-Term-Loan-From-the-US-Federal-Government-Bank-EXIM-Bank-for-the-Development-of-its-Tanbreez-Rare-Earth-Project-in-Gree.html