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Capital Metals plc ( (GB:CMET) ) just unveiled an announcement.
Capital Metals PLC has announced promising results from its Phase 1 drilling at the Taprobane Minerals Project in Sri Lanka, revealing exceptional high-grade mineral resource extensions both laterally and at depth. The new findings suggest a potential significant increase in the resource size, with preliminary indications showing mineralisation of over 60% Total Estimated Heavy Minerals, compared to the existing 17.6%. The company is optimistic about reducing the cut-off grade, which could further expand the resource base. The ongoing drilling program and subsequent phases aim to provide a more detailed understanding of the resource, aiding in mine planning and production scheduling.
More about Capital Metals plc
Capital Metals is a UK-based company listed on the London Stock Exchange, focusing on the development of the Taprobane Minerals Project in Sri Lanka. The project involves the extraction of high-grade mineral sands, including ilmenite, rutile, zircon, and garnet, and is recognized as one of the highest-grade mineral sands projects globally. The company aims to apply modern mining practices and contribute positively to the local economy and community.
Average Trading Volume: 452,604
Technical Sentiment Signal: Hold
Current Market Cap: £12.44M
For an in-depth examination of CMET stock, go to TipRanks’ Stock Analysis page.