Join our daily newsletter At The Bell to receive exclusive market insights
- First of two rigs on site and actively drilling
- Testing southern extension of Webbs and newly discovered parallel lode
- New exploration licence application lodged
- Secures highly prospective ground along same structural trend hosting Webbs Consol
Rapid Critical Metals (ASX:RCM) is accelerating its exploration activities in NSW with drilling underway in the Webbs silver region and an application lodged for a new permit.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more
The first of two drilling rigs is now active on the ground at the the company’s flagship Webbs silver project.
The program is designed to test the southern extension of the Webbs ore body and the recently discovered parallel lode — two targets the company believes have the potential to materially grow the known mineralised footprint.
Holes have been deliberately collared away from previous drilling and angled from the west to intercept potential west-dipping mineralisation along the same north–south trend as the main ore body.
Following the initial program, further drilling will test, expand and better define the southern, central and northern sections of the Webbs resource.
Subject to approvals, the company is planning to undertake a four-hole, 560m reverse circulation (RC) program at Tangoa South to advance this priority target.
Both Tangoa South and the Isolation prospect remain under-explored yet highly prospective, offering Rapid further near-term drill-ready opportunities along the same mineralised corridor.
Meanwhile, Rapid has lodged an exploration licence application for ground immediately south of its EL8933 and EL9454 tenements.
MD, Byron Miles, said the ground is considered highly prospective for intrusion-related, structurally controlled mineralisation on trend from the adjacent Webbs Consol system.
“Timing, foresight and geological fundamentals have underpinned Rapid’s growth and our aggressive accumulation of highly prospective exploration targets — each systematically linked, both geologically and logistically, to our existing resources,” Mr Miles said.
“While we continue to add ounces and grade to proven resources, we are also looking outward, with a rig now turning to test the scale of the adjacent systems around us. Rapid is a resource builder and, most importantly, a discovery company.”
RCM is up 7.69% to 4.2¢. Mkt cap $46.64M.
Join the discussion: See what HotCopper users are saying about Rapid Critical Metals and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
