Rapid Critical Metals’ Acquisition Boosts Silver Resource to 67Moz at 400 g/t Grade

A Transformational Acquisition

Rapid Critical Metals Limited (ASX – RCM) has announced a binding agreement to acquire 100% of the Webbs Consol Silver Project from Lode Resources Limited (ASX – LDR). This strategic move significantly expands Rapid’s footprint in New South Wales, combining Webbs Consol’s maiden Mineral Resource Estimate (MRE) of 1.6 million tonnes at an extraordinary 636 grams per tonne silver equivalent (AgEq), equating to roughly 32 million ounces of silver equivalent, with Rapid’s existing Webbs and Conrad deposits.

The combined portfolio now boasts an estimated 67 million ounces of silver equivalent at an average grade of approximately 400 g/t AgEq, positioning Rapid as Australia’s highest grade silver company listed on the ASX. This scale and grade are notable in a market where high-grade silver assets are increasingly sought after.

Strategic and Geological Significance

The acquisition secures a contiguous silver corridor within the New England Fold Belt, a region known for its rich mineral endowment but with significant exploration upside. Rapid now controls all tenure between its existing deposits and Webbs Consol, unlocking district-scale exploration potential, including the prospect of discovering blind parallel lodes along the corridor.

High-grade drilling results from Lode Resources in the area underscore the quality of mineralisation, with intercepts such as 18.6 meters at 1,436 g/t AgEq and 149.2 meters at 455 g/t AgEq. These results highlight the exceptional grades that underpin the resource and suggest further upside as exploration intensifies.

Deal Structure and Market Timing

The consideration for the acquisition comprises A$3.75 million in cash (with A$3 million payable on completion and A$0.75 million twelve months later), 115 million new Rapid shares subject to a 12-month voluntary escrow, and a 2% Net Smelter Return royalty payable to Lode Resources. Completion remains subject to customary due diligence, execution of definitive agreements, and crucially, shareholder approval at an upcoming Extraordinary General Meeting expected in October.

This transaction follows Rapid’s recent successful $10.5 million capital raise, which attracted strong institutional and high-net-worth investor participation, providing the company with the financial firepower to accelerate exploration and development. The timing is particularly advantageous given the historically strong silver prices in both Australian and US dollars, which enhance the economics of the combined projects.

Operational Synergies and Growth Prospects

By consolidating ownership of three nearby high-grade deposits, Rapid is poised to pursue integrated mine planning and centralised processing strategies, potentially unlocking operational efficiencies and cost savings. The proximity to existing infrastructure further supports a streamlined development pathway.

Managing Director Byron Miles emphasised the acquisition’s role in building a leading silver-focused growth platform in New South Wales, noting the significant potential for further resource expansion and new discoveries in an underexplored corridor. The company’s dual-rig drilling program is already underway, signaling a commitment to advancing the project swiftly.

Looking Ahead

As Rapid Critical Metals moves to integrate Webbs Consol into its portfolio, the market will be watching closely for exploration updates, resource upgrades, and progress toward development milestones. The consolidation of high-grade silver assets in a prolific region, combined with robust market fundamentals, sets the stage for Rapid to emerge as a key player in Australia’s silver mining sector.