Critical Metals Corp. reported results from its 2024 drilling program at the Tanbreez Rare Earth Project in Greenland, which is projected to contain over 27% of heavy rare-earth elements.
- The company completed 13 drill holes totaling just over 1,149 meters in the Fjord area of the deposit.
- Results showed consistent rare earth grades across all holes, with total rare earth oxides ranging from 0.39% to 0.54%.
- The drilling also highlighted the presence of other strategic metals, including gallium, hafnium, and yttrium, among others.
Shares of Critical Metals Corp. (CRML) tumbled more than 8% on Monday after the company reported results from its 2024 drilling program at the Tanbreez Rare Earth Project in Greenland.
Tanbreez is one of the world’s largest known rare-earth deposits, projected to contain over 27% of heavy rare-earth elements. The site offers a key supply chain advantage with direct shipping access to the North Atlantic Ocean.
Results Of The Drilling Program
The company completed 13 drill holes totaling just over 1,149 meters in the Fjord area of the deposit, targeting extensions of known mineral zones. Results showed consistent rare-earth grades across all holes, with total rare-earth oxides ranging from 0.39% to 0.54%.
About a quarter of the material consisted of heavy rare-earth elements, which are used across multiple key sectors, including aerospace and military-grade magnets. The drilling also highlighted the presence of other strategic metals, including gallium, hafnium, yttrium, cerium, zirconium, niobium, and tantalum.
Despite logistical challenges during the drilling season, the findings confirmed steady mineralization both vertically and across the site, the company said.
Critical Metals added that the results will be used to prepare an updated mineral resource estimate and advance mine planning work. Additional drilling samples from the 2025 field season are still being analyzed, with further updates expected once those results are finalized.
2025 Highlights
In October, the U.S. government held preliminary talks about taking a potential ownership stake in the miner, according to a Reuters report. The company previously applied for a $50 million Defense Production Act grant, which officials are now considering converting into an equity investment. If finalized, the move would amount to roughly an 8% stake.
Critical Metals acquired Greenland’s Tanbreez rare earth project last year for $5 million in cash and $211 million in stock.
The rare earths sector in general has been in sharp focus this year as it sits at the center of U.S.–China trade tensions. China controls about 70% of global rare earth mining and nearly 90% of processing capacity, prompting the U.S. government to step up efforts to boost domestic supply. As part of that push, Washington has been backing companies such as Lithium Americas, MP Materials, Critical Metals, and Trilogy Metals.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits remained in the ‘bullish’ territory over the past 24 hours, accompanied by ‘high’ message volumes.
One user expects the stock to dip further after the report.
Year-to-date, the stock has risen around 25%.
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