AUS
NZ
UK
CA
USA
IND
Critical Minerals Group Limited (ASX:CMG) has reported a substantial increase in the Mineral Resource Estimate for its Lindfield Project, now totalling 713 million tonnes. This marks a remarkable 96% increase in the resource size, underscoring the project's potential and the company's growing footprint in the critical minerals sector.
New Exploration Permits Granted
CMG has secured Exploration Permits for its Lindfield North and Lara Downs projects, designated as EPMs 28636 and 28635, respectively. These permits, granted to wholly owned subsidiaries of CMG, are valid for a five-year period, enabling the company to expand its exploration activities and further develop its mineral assets.
Feasibility Study Underway
Sedgman Prudentia, a leading engineering services provider, has commenced work on the feasibility study for the Lindfield Project. This follows the award of the contract in March 2024. The feasibility study is a crucial step in advancing the project towards development, assessing the economic viability and technical aspects of the proposed operations.
Vanadium Electrolyte Manufacturing and Business Planning
CMG is also making progress in planning for a vanadium electrolyte manufacturing business, an important component in the production of vanadium redox flow batteries. This initiative aligns with the company's strategy to become a key player in the battery materials market.
Grant Applications and Funding Prospects
CMG has advanced to the final stage of the Queensland Critical Minerals and Battery Technology Fund grant application, with a potential funding amount of $2 million. Additionally, the company has prepared an application for a grant under the International Partnerships in Critical Minerals Program, which, if successful, would provide further financial support for its projects.
Environmental and Social Studies
The company has completed initial ecology flora and fauna surveys at the Lindfield Project, demonstrating its commitment to responsible and sustainable development. These studies are part of the ongoing environmental and social impact assessments required to ensure that the project meets regulatory and community standards.
Flowsheet Optimisation Testwork
Positive results from the Lindfield Project's flowsheet optimisation testwork indicate potential improvements in processing efficiency and cost-effectiveness. This work is essential for refining the project's operational plans and maximising resource recovery.
