FULL DISCLOSURE: The Deep Dive is long the equity of Steadright Critical Minerals.
Steadright Critical Minerals (CSE: SCM) has signed a memorandum of understanding for the acquisition of a project based in Morocco.
The memorandum, signed with NSM Capital, outlines that Steadright can earn up to an 80% interest in the TitanBeach Titanium Project, which is found on the Atlantic coastline of Morocco. Contained within the Cape Juby Strip 380 kilometres southwest of Agadir, the region is known for titanium rich beach sands.
As per the company website, TitanBeach consists of 10 exploration licenses that cover 160 square kilometres of ground that is prospective for iron-titanium sands. Titanium is classified as both a critical and strategic mineral in Canada, the United States, and Europe. Exploration licenses here can be converted to exploitation licenses once sufficient resources have been outlined to support positive economics.
Historic sampling conducting in 2023 is said to have returned assay results that include up to 42% iron and 4.7% titanium.
Steadright has indicated that it intends to immediately commence an independent 43-101 study on the TitanBeach project, with that work to begin within the next week. Exploration work associated with that study is expected to include further sampling of the sands.
“Morocco has a growing economy and is a friendly mining jurisdiction with a host of critical minerals. The country’s 5-Year tax free incentive for Mineral Producers is a prime example of how a smart, safe and secure jurisdiction that wants its miners to succeed, operates. I am very excited about the potential of Morocco and the TitanBeach Titanium Project – and Steadright firmly believes that the time for investment in mining in Morocco is now,” commented Matt Lewis, CEO of Steadright Critical Minerals.
Steadright Critical Minerals last traded at $0.07 on the CSE.
FULL DISCLOSURE: Steadright Critical Minerals is a long investment of Canacom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
