Rapid’s Licence Win Raises Stakes in High-Grade Silver Exploration Race
Rapid Critical Metals has secured a major exploration licence in New South Wales, expanding its landholding 26-fold and strengthening its position in a prolific silver district. This move connects its Webbs Silver Project with Lode Resources’ assets, setting the stage for new discoveries.
- Exploration Licence EL9799 granted, expanding landholding by 26 times
- Consolidates strategic corridor between Webbs and Lode Resources’ Webbs Consol
- Area hosts combined 34.9Moz silver equivalent resource at Webbs and Conrad projects
- Licence covers historic workings and prospective mineralised zones including critical minerals
- Next steps include LiDAR expansion, geophysical surveys, and field reconnaissance
Strategic Expansion in a High-Grade Silver District
Rapid Critical Metals Limited (ASX – RCM) has taken a significant step forward in its exploration ambitions by securing Exploration Licence EL9799 in New South Wales. This newly granted licence expands the company's landholding by an impressive 26 times, effectively consolidating a continuous and highly prospective silver corridor between its flagship Webbs Silver Project and the adjacent Webbs Consol asset held by Lode Resources Limited (ASX – LDR).
The strategic importance of this acquisition cannot be overstated. The corridor is known for its high-grade silver mineralisation, with Rapid’s existing Webbs and Conrad projects boasting a combined JORC 2012 resource of 34.9 million ounces silver equivalent. The expanded tenure now provides Rapid with greater control over an area that includes potential parallel lodes and historic small-scale silver workings, which have been underexplored until now.
Unlocking New Exploration Potential
Beyond silver, the licence area covers parts of the mineral-rich Mole Granite and its peripheral contact zones, which are prospective not only for silver but also for tin, tungsten, lithium-caesium-tantalum (LCT) pegmatites, rare earth elements, and other critical minerals. This diversification aligns well with the growing demand for critical minerals in emerging technologies and green energy applications.
Rapid’s Managing Director, Byron Miles, highlighted the significance of the licence in enhancing the company’s discovery pipeline. The continuous land package between Rapid and Lode Resources offers a unique opportunity to explore multiple untested structures and parallel lodes that could add substantial value to the existing resource base.
Next Steps and Exploration Strategy
To capitalise on this expanded footprint, Rapid plans to integrate EL9799 into its regional exploration strategy with a focus on expanding LiDAR coverage and acquiring additional remote sensing data. These high-resolution geophysical tools will aid in generating new targets, which will be followed by systematic field reconnaissance, mapping, and sampling of historical workings and identified anomalies.
Previous technical work and resource estimates at Webbs and Conrad have been underpinned by rigorous geological modelling and metallurgical testing, providing a solid foundation for future drilling campaigns. With commodity prices for silver and associated metals currently favourable, the timing for advancing exploration is opportune.
Positioning for Growth in a Tier-1 Jurisdiction
Rapid Critical Metals is well-funded following a recent $10.5 million capital raise, positioning the company to accelerate its exploration activities. The expanded tenure and strong infrastructure in New South Wales, combined with a rich regional mining history, enhance the prospects for discovery and eventual development.
As the company moves forward, market participants will be watching closely for assay results from new targets within EL9799 and any subsequent resource upgrades that could reshape the silver landscape in this prolific district.
Bottom Line?
Rapid’s expanded NSW footprint sets the stage for a new wave of silver exploration and potential resource growth.
Questions in the middle?
- What initial assay results will emerge from exploration activities within EL9799?
- Could the discovery of parallel lodes significantly increase the existing resource base?
- How will Rapid’s expanded tenure influence potential partnerships or joint ventures in the region?
