Steadright Advances Exploration at Historic Goundafa Mine in Morocco
Steadright Critical Minerals is moving forward with exploration at the historic Goundafa polymetallic mine in Morocco, which could potentially yield significant copper, lead, zinc, silver, and gold resources and represents a strategic opportunity for near-term production in the critical minerals sector.
Steadright Critical Minerals Inc. is proceeding with exploration plans for the historic Goundafa Mine in Morocco, with contractor drilling companies being considered to verify high historical mineral values at the polymetallic site. The company intends to begin exploration activities in December 2025 and early 2026 using a phased drilling approach to confirm conceptual resources estimated at 6.62 million tons with grades of 2.1% zinc, 1.8% lead, 1.5-2.1% copper, and up to 3.5 g/t gold in select zones.
The initial exploration phase will focus on surface mapping and drilling to verify potential resources in Vein 1 adjacent to historic mining areas and their extensions. Vein 1 was historically mined from 1926 to 1956, producing approximately 320,000 tons of material exceeding 10% grades and 400 g/t silver. According to a 2022 geological report prepared for CMS, the concession holder, accessible workings extend approximately 600 meters vertically, with potential for additional extension to depths of 1,400 meters below surface.
Drilling operations will concentrate on establishing a near-term resource estimate close to existing mine access points that could support early production. Historical mine plans indicate mining was conducted using drifting methods with vertical openings that remain potentially accessible with minimal effort and cost. The company's goal includes confirming historic resource estimates and developing a NI 43-101 compliant technical report for the project.
A second exploration phase will incorporate additional mapping, drilling, and geophysical surveys to delineate Vein 1, Vein 4, and Vein 2 bis along interpreted extensions. This phase will enable intermediate to wide-spaced drilling for resource expansion based on prior mapping and geophysical results. Recent XRF-measured grades inside the mine have shown potential for significant higher metal grades in some areas, consistent with historic mining operations.
The Goundafa Mine operated from 1923 until 1956, with operations ceasing due to political changes following Moroccan independence rather than economic factors. While access adits and shafts have been closed for safety reasons, the current owners indicate that mine access can be quickly restored for exploration and potential future production. The lateral extensions of Veins 4, 5, and 6 have been identified at surface through trenching and geological surveys, showing structural continuity with veins exploited at depth, though their potential requires drilling confirmation.
Steadright's approach aligns with the company's strategy of acquiring assets with clearly achievable near-term production potential. CEO Matt Lewis emphasized the company's focus on moving projects to revenue generation as quickly as possible, acknowledging the support from Moroccan teams and government authorities. The exploration advancement at Goundafa represents a significant step in revitalizing a historic mining operation with substantial polymetallic potential in a region increasingly important for critical mineral supply chains.