en.Wedoany.com Reported - Australian-listed Rapid Critical Metals Ltd (ASX: RCM) announced on April 9, 2026, the acquisition of an 80% controlling interest in Green Copper Pty Ltd for a cash and scrip consideration of $200,000. Green Copper is the holder of the Tooloom Silver Project in New South Wales, a 121 km² project located in a historic silver-producing region. This acquisition adds multiple drill-ready targets within a silver, gold, copper, and antimony mineralized system.
Under the transaction terms, the consideration comprises $100,000 in cash and $100,000 worth of Rapid Critical Metals shares, issued at the volume-weighted average price of the last five trading days, subject to a three-month escrow period. Additionally, the acquirer is required to invest a minimum of $750,000 in project exploration over three years. Managing Director Byron Miles stated that this acquisition significantly expands the company's silver asset exposure in New South Wales. The Tooloom project features strong historical drilling data, high-grade surface results, and clear follow-up exploration opportunities, positioning it as a valuable complement to the existing Webbs and Conrad projects.
The Tooloom Silver Project's historical drilling has yielded high-grade silver equivalent intersections, including: 2m @ 294 g/t Ag eq from 26m, 2m @ 145 g/t Ag eq from 53m, 1m @ 341 g/t Ag eq from 29m, and 1.1m @ 150 g/t Ag eq from 105.9m. The project also holds numerous surface sampling results yet to be drill-tested, including: Silver King North at 1660 g/t Ag, Silver King South at 969 g/t Ag, Wongabah at 730 g/t Ag, Philippines Block at 671 g/t Ag and 7 g/t Au, and Cullens at 570 g/t Ag and 26.4 g/t Au.
Rapid Critical Metals has outlined near-term exploration plans, including conducting LiDAR surveys to identify additional mining sites and vein trends, undertaking further surface sampling at directly drillable targets to refine targeting, evaluating surface geology methods for drill target delineation, and conducting follow-up drilling on silver and gold targets.
Rapid Critical Metals Ltd is an ASX-listed critical minerals exploration company headquartered in Sydney, focusing on high-grade silver and critical minerals assets in Australia and Canada. Green Copper Pty Ltd holds a 100% interest in Exploration Licence EL 9681 in New South Wales, an area containing over 80 historical mining sites. This transaction expands the company's regional tenement area in New South Wales by nearly one-third, aiding in the consolidation of high-quality silver project assets.
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