What is the significance of the new drilling program at the Jupiter Rare Earth Project?

Critica (ASX:CRI) has launched a major aircore drilling campaign to support its ongoing scoping study in Western Australia. The programme is a dual-track initiative focusing on upgrading the existing resource grade and conducting regional exploration to find new deposits.

Why is Critica (ASX: CRI) moving resources from "inferred" to "indicated" status?

The primary goal of this drilling is to upgrade priority areas of the Jupiter deposit from an "inferred" mineral resource to an "indicated" classification. In mining terms, an indicated resource has a higher level of geological confidence, which is a mandatory requirement for refining mine planning and completing economic feasibility studies.

How is the Western Australian Government supporting Critica’s exploration?

The expansion into the Juno and Aurora targets is partially funded by the WA Government’s Exploration Incentive Scheme (EIS). This grant covers 50% of the direct drilling and mobilisation costs for regional exploration within the broader Brothers Project area.

Who is SRK Consulting and what is their role in the Jupiter Project?

Critica (ASX: CRI) has engaged SRK Consulting, a global mining technical consultancy, to update the Jupiter mineral resource model. SRK will integrate the new geological data from the current aircore program to provide an independent, high-confidence estimation of the rare earth deposits.

What recent technical milestones has Critica (ASX:CRI) achieved besides drilling?

Beyond exploration, Critica recently produced commercial-quality mixed rare earth carbonate (MREC) through its metallurgical optimisation workstreams. MREC is a value-added intermediate product, and proving the ability to produce it at commercial specifications is a major technical "green flag."

What are the main bull and bear points for Critica (ASX: CRI) following this news?

The "bull case" rests on the 50% government funding and the potential for a significant resource upgrade that could improve project economics. The "bear case" or risk factor is the inherent uncertainty of exploration; drilling results may not meet expectations, and at a share price of $0.028, the stock remains highly speculative.

How does this drilling program fit into Critica's long-term strategy?

This program is a vital component of the Jupiter scoping study, which outlines the preliminary economic roadmap for the project. Management is focused on disciplined resource growth and metallurgical validation to move the project toward the development phase.

Image for illustrative purposes only. Not a real photo.

Critica commences rare earth drilling at Jupiter Project

Written by Heidi Cuthbert Published Feb 25, 2026, 6:15 AMLast Updated Jul 6, 2026, 10:45 AM

Critica (ASX:CRI) commenced a significant aircore drilling program at its Jupiter Rare Earth Project in Western Australia.

The initiative serves as a cornerstone of the company's ongoing scoping study, focusing on both resource upgrading and broader regional exploration.

The primary objective of the drilling is to transition priority areas of the current "inferred" mineral resource to an "indicated" classification.

The upgrade is essential for refining mine planning and strengthening the technical inputs required for the project’s development.

Critica has engaged SRK Consulting to update the Jupiter mineral resource model as new geological data becomes available.

Simultaneously, the company is undertaking regional exploration at the Juno and Aurora targets within the wider Brothers Project area.

The expansion is partially funded by the Western Australian Government's Exploration Incentive Scheme, which covers 50% of drilling and mobilisation costs.

The co-funding arrangement allows the company to pursue project upside while maintaining capital discipline.

CEO Jacob Deysel highlighted that this program represents a vital step in advancing Jupiter through the scoping study phase.

Beyond drilling, the company is progressing with metallurgical optimisation and recently achieved the production of commercial-quality mixed rare earth carbonate.

At the time of reporting, Critica's share price was $0.028.

Critica commences rare earth drilling at Jupiter Project

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