Critical Metals (CRML) Soars 32.6% on Rare Earth Exploration in Greenland

We recently published 10 Big Names Delivering Outsized Gains. Critical Metals Corp. (NASDAQ:CRML) was one of the top performers on Wednesday.

Critical Metals snapped two days of losses on Wednesday, jumping 32.58 percent to close at $17.93 apiece, as investors took heart from news that it found rare earth deposits at the Tanbreez Rare Earths Project in Greenland.

In a statement, Critical Metals Corp. (NASDAQ:CRML) said that the site’s Fjord deposit and Upper Fjord areas showed consistent rare earth grades and presence of strategic metals such as gallium, hafnium, cerium, and yttrium, among others, reinforcing Tanbreez’s position as a globally significant peralkaline-hosted rare earth system.

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The two areas remain open for exploration both sideways and deeper underground, with mineralization confirmed to occur consistently close to surface and demonstrating strong lateral and vertical continuity.

Investors were quick to gobble up shares in the company, in line with the US government’s plan to ramp up the production of rare earth minerals to reduce dependence on China.

To support faster drilling operations, Critical Metals Corp. (NASDAQ:CRML) earlier this month acquired an integrated rare earth element assay analysis laboratory facility, which would be capable of real-time on-site “mine-to-data” geochemical analysis and to generate full elemental rare earth element (REE) results in approximately 80 minutes, significantly reducing assay turnaround times compared to traditional off-site laboratory processing.

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Disclosure: None. This article is originally published at Insider Monkey.