Steadright Critical Minerals Inc. is proceeding with exploration plans for the historic Goundafa Mine in Morocco, with contractor drilling companies being considered to confirm high historical values at the polymetallic site. The company intends to begin exploration activities in December 2025 and early 2026 using a phased targeted drilling approach to verify current hypotheses of potential resources.
The Goundafa Mine represents significant potential with conceptual resources identified up to 6.62 million tons containing grades of 2.1% zinc, 1.8% lead, 1.5-2.1% copper, and up to 3.5 g/t gold in select zones. Particularly noteworthy is that 1.7 million tons are directly accessible through historic multi-level works, according to the 1985 BRPM report. The initial exploration phase will focus on surface mapping and drilling to verify resources in Vein 1 adjacent to historic mining areas and extensions of these zones.
Historical production data from the mine, which operated from 1923 to 1956, indicates substantial mineral potential. Vein I was mined from 1926 to 1956, historically producing a reported 320,000 tons of material exceeding 10% grades and 400 g/t silver. Operations ceased due to political changes following Moroccan independence rather than economic factors, suggesting the mine retains significant untapped potential.
The exploration strategy emphasizes near-term production potential, with drilling focused on providing resource estimates within close proximity of mine access points that could be available for early production. Based on review of historic mine plans, many openings remain potentially available with minimal effort and cost, including drifting methods and vertical openings used historically to move mineralized material to surface for local processing.
A 2022 geological report titled Rapport Technique et Financier sur la Concession Miniere de Goundafa - Commune d’Ijoukak, Province d’El Haouz, Maroc provides important context for the project's potential. The report notes that current estimates are limited to 600 vertical meters through accessible workings, but the resource could extend an additional 800 meters vertically, reaching depths of 1,400 meters below surface. Lateral extensions of Veins IV, V and VI have been identified at surface through trenching and geological surveys, representing significant additional potential not included in the main volumetric estimate.
A second exploration phase would include mapping, drilling, and geophysics to assist in delineation of Vein I, Vein IV and Vein II bis along interpreted extensions both laterally and at depth. This phase would allow for intermediate to wide spaced drilling for resource expansion further afield on surface and underground based on results from prior mapping and geophysics.
The company's approach aligns with its stated strategy of acquiring assets with clearly achievable near-term production potential and moving to revenue generation as quickly as possible. Access to the mine, while currently closed for safety purposes and prevention of illegal mining, can be quickly achieved through cooperation with current owners, with intermittent access having allowed frequent inspection of mine infrastructure.
This development is significant given the global demand for critical minerals and the potential for reviving historically productive mines using modern exploration techniques. The presence of multiple metals including copper, zinc, lead, silver, and gold provides diversification benefits, while the historical production record and accessible infrastructure suggest lower development risks compared to greenfield projects.
