Acquisition of Highly Prospective Historical Asset-North NSW
| Stock | RCM.ASX (RCM.ASX) |
|---|---|
| Release Time | 9 Apr 2026, 10:03 a.m. |
| Price Sensitive | Yes |
Rapid Acquires Highly Prospective Historical Silver Asset in Northern NSW
- Rapid secures 80% interest in Green Copper Pty Ltd, which owns 100% of EL 9681 Tooloom Silver Project
- 121km² of highly prospective ground with over 80 historical workings across a silver-gold-copper-antimony system
- Multiple high-grade drill intercepts and surface samples support strong exploration upside
Rapid Critical Metals Limited (ASX: RCM, RCMO) has announced the acquisition of an 80% controlling interest in Green Copper Pty Ltd, which owns 100% of EL 9681, the Tooloom Silver Project in northern New South Wales. The 121km² project area covers a historical silver district containing more than 80 workings, and is located approximately 100km northeast of Rapid's Webbs Silver Project.The acquisition significantly expands Rapid's New South Wales silver footprint, adding a strategic, district-scale project with strong exploration upside. Historical drilling has returned high-grade silver intercepts, including 2m at 294g/t AgEq, while numerous untested high-grade surface samples up to 1,660g/t Ag provide additional targets. The project also has potential for gold, copper and antimony mineralization.Rapid plans to immediately commence an exploration program, including a LiDAR survey, further surface sampling, and geophysical surveys to refine drill targets. The company sees strong similarities to the Webbs project, and believes Tooloom has the potential to become an important complement to its existing silver assets.
Rapid plans to aggressively explore the Tooloom Silver Project, with a focus on defining drill targets and advancing the project towards potential resource definition. The company sees significant upside potential from the project's historical high-grade results and the broader district-scale opportunity.