Rapid Critical Metals Limited (‘Rapid,’ ‘RCM’ or ‘Company’) is pleased to announce that it has completed the acquisition of the Webbs Consol Silver Project (Webbs Consol) in northeast New South Wales, comprising EL 8933 and EL 9454 from Lode Resources Limited (ASX: LDR) (Lode Resources).
The Board sees the acquisition of the Webbs Consol as a highly accretive strategic investment for Rapid which:
- Builds critical mass to the Company’s existing Webbs and Conrad high grade deposits;
- Secures a district-scale silver corridor by consolidating contiguous tenure across a high- grade silver belt in the New England Fold Belt;
- Unlocks new discovery potential with adjoining tenure, increasing the likelihood of new discoveries between the two high grade silver deposits;
- Consolidates ownership of three nearby, high-grade deposits supporting unified mine planning, centralised processing options, and potential operating synergies; and
- Positions Rapid for growth with proximity to existing infrastructure and strong silver market fundamentals, providing a favourable backdrop for accelerated development.
Commenting on the completion of the Webbs Consol acquisition, Byron Miles, Managing Director of Rapid, said:
“The completion of the acquisition of the Webbs Consol builds on the Board’s strategy of becoming one of the ASX’s leading silver-focused growth Companies with a platform in New South Wales with significant potential for further growth.
We have now secured a contiguous silver corridor with outstanding geological prospectivity and opened up exciting potential for new discoveries in the area.
With a prospective portfolio of assets and a team focused on execution and delivery, we are well placed to accelerate exploration and development activities to create long-term value for our shareholders.”
Click here for the full ASX Release