Steadright Critical Minerals Inc. (CSE: SCM) announced it is moving forward with exploration plans for the historic Goundafa Mine in Morocco, a polymetallic copper-lead-zinc-silver-gold property. The company is reviewing interest from drilling contractors and intends to begin a phased targeted drilling program starting in December 2025 and continuing into early 2026.
The initial phase will focus on surface mapping and drilling to verify historical resource estimates, particularly in Vein 1 adjacent to historic mining areas. Vein 1 was mined from 1926 to 1956, producing approximately 320,000 tons of material with grades exceeding 10% combined metals and 400 g/t silver. The goal is to confirm historic resources and work toward a NI 43-101 compliant resource estimate. A 2022 technical report (non-43-101 compliant) identified conceptual resources of up to 6.62 million tons grading 2.1% zinc, 1.8% lead, 1.5-2.1% copper, and up to 3.5 g/t gold in select zones. The report notes that 1.7 million tons are directly accessible through historic multi-level workings, as stated in a 1985 BRPM report.
A second phase will include geophysics to delineate Vein I, Vein IV, and Vein II bis along interpreted extensions. Drilling will target resource expansion laterally and at depth. The company emphasizes that mining ceased in 1956 due to political changes after Moroccan independence, not economic factors, and that access adits and shafts can be reopened quickly with cooperation from current owners.
In parallel, Steadright is advancing a Preliminary Economic Assessment (PEA) on the TitanBeach heavy mineral sands project in southern Morocco. The company will meet government officials in mid-to-late November to discuss mining and environmental license applications. Engineers are reviewing refining schematics for modular processing components to be built in the Province of Tan-Tan.
CEO Matt Lewis stated: "Steadright’s North Star is the thesis that we can best serve our shareholders by acquiring assets which have clearly achievable near-term production - and then moving to the revenue stage as quickly as possible."
The qualified person for the press release is Robert Palkovits, P. Geo, VP Exploration for Steadright. All scientific and technical information has been reviewed and approved by him, with the note that all information requires verification.
