Rapid Critical Metals Advances Drilling and Acquisitions in NSW and Canada with Strong Metallurgical Results
Rapid Critical Metals has kicked off drilling at its Webbs Silver Project, expanded its NSW footprint with the Tooloom acquisition, and secured a key permit for gallium-germanium drilling in Canada, while metallurgical tests at Webbs and Consol show promising recoveries.
- Drilling underway at Webbs Silver Project with two rigs active
- Acquisition of 80% interest in Tooloom Silver Project expands NSW footprint
- BC Mines Act Permit obtained for Prophet River gallium-germanium project
- Outstanding silver, lead, and zinc flotation recoveries confirmed
- Ore sorting tests at Webbs stockpiles show silver grades over 1,000 g/t
Drilling Momentum Builds at Webbs Silver Project
Rapid Critical Metals (ASX:RCM) has accelerated its exploration in northern New South Wales with the commencement of drilling at its wholly owned Webbs Silver Project. After securing initial drilling approvals in May 2026, the company deployed two reverse circulation rigs to test extensions of a newly discovered western parallel lode and the southern margins of the known ore zone. The program aims to expand the resource base and identify further parallel lodes, with holes strategically angled to intercept west-dipping mineralisation along the main north-south trend.
This drilling campaign follows Rapid’s strategic push to build a district-scale silver portfolio, including a new exploration licence application (ELA7053) targeting highly prospective ground along a north-south structural trend hosting the Webbs Consol and Tangoa prospects. The company plans a four-hole reverse circulation program at Tangoa South, pending approvals, to further explore this corridor.
Tooloom Acquisition Adds Historic Silver District
In a significant expansion move, Rapid acquired an 80% controlling interest in Green Copper Pty Ltd, owner of EL 9681; the Tooloom Silver Project; covering 121 km² of northern NSW’s historic silver district. This acquisition boosts Rapid’s NSW landholding by nearly one-third and brings more than 80 historic workings along with multiple drill-ready targets for silver, gold, copper, and antimony within a structurally controlled, intrusion-related polymetallic system.
Historical drilling at Tooloom has returned high-grade silver equivalent intercepts, including 2 metres at 294 g/t AgEq and 1 metre at 341 g/t AgEq, while surface sampling has revealed exceptional grades up to 1,660 g/t silver at Silver King North. These targets remain largely untested, offering a substantial exploration upside for Rapid.
Strong Metallurgical Performance at Webbs and Consol
Rapid reported outstanding metallurgical flotation results from its Webbs and Consol projects, with silver recoveries reaching up to 98.7% and lead recoveries between 97% and 99%. Zinc recovery also impressed at 93.3%, albeit requiring further optimisation. Concentrate grades peaked at an exceptional 2,051 g/t silver, underscoring the high-grade nature of the mineralisation.
Complementing flotation tests, ore sorting trials on historical stockpiles at Webbs yielded silver recoveries exceeding 1,000 g/t with significant mass reduction, nearly doubling the grade of unprocessed ore. This ore sorting technology could materially improve project economics by reducing milling and operating costs. Rapid is now evaluating processing options for these stockpiles and plans further testing on fresh drill core samples to confirm these promising results.
Prophet River Project Advances with Key Permit and Maiden Drilling
On the international front, Rapid secured a five-year BC Mines Act Permit for its 100%-owned Prophet River Gallium-Germanium Project in British Columbia, Canada. This permit authorises up to 50 drill sites with operational flexibility, enabling a maiden drill campaign targeting five priority geophysical anomalies that have returned surface grades as high as 763 g/t germanium and 65.5 g/t gallium.
The upcoming drill program, scheduled to commence in late July 2026, will focus on validating historic high-grade zones and exploring depth extensions of conductive structures identified by recent geophysical surveys. Gallium and germanium are critical minerals with supply dominated by China, making Rapid’s project strategically significant amid global supply chain concerns.
Corporate and Financial Position
Rapid’s 2026 Annual General Meeting welcomed the election of John Pynton AO and the re-election of Martin Holland to the board. The company maintains a robust cash position with $7.6 million in cash and equivalents at quarter-end, supporting approximately 5.3 quarters of funding at current expenditure levels. Exploration spend for the quarter totalled $988,000, predominantly focused on Australian projects.
Rapid also holds just under 10.7 million shares in Iris Metals Limited (ASX:IR1), escrowed until September 2026, adding a layer of strategic investment exposure. No production activities were undertaken during the quarter as the company prioritises exploration and resource development.
Bottom Line?
Rapid’s simultaneous drilling campaigns and strategic acquisitions in NSW and Canada, coupled with strong metallurgical test results, position the company to potentially expand its critical metals footprint, next milestones will hinge on drill outcomes and resource updates.
Questions in the middle?
- Will the ongoing drilling at Webbs and Tangoa South confirm extensions and new lodes to materially increase resources?
- How will the high-grade targets at Tooloom translate into resource upgrades and development potential?
- What initial results will emerge from the maiden drilling at Prophet River, and how might this impact Rapid’s standing in critical minerals supply?
