Quest Critical Metals Provides Update on EU HORIZON-Funded EIS Project

27/02/2024

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Quest Critical Metals Inc. (formerly Canadian Palladium Resources Inc.) (“Quest Critical Metals” or the “Company”) is delighted to share the latest advancements in the EU HORIZON-funded Exploration Information Systems (EIS) Project. The project, in which the Company participates through its wholly-owned Czech subsidiary, Golden Pet SRO, aims to bolster Europe’s self-sufficiency in critical raw materials (CRM) with a focus on sustainable mineral exploration.

The EU HORIZON-funded EIS Project, valued at €7.5 million, is dedicated to developing advanced exploration concepts and data tools to facilitate mineral exploration while minimizing its environmental impact. Moreover, the project seeks to raise awareness regarding the significance of critical raw materials and the challenges associated with exploring for them within the EU.

James Newall, CEO of Quest Critical Metals, expressed his enthusiasm, stating, “We are privileged to have an abundance of geological and geophysical expertise analyzing our Klingenthal/Tisova project, all funded by the EU. Their validation of our geological interpretation is not only reassuring but also invaluable. Furthermore, being selected as a case study for the EIS Awareness Campaign will significantly amplify our project’s exposure.”

Key Highlights:

EU Funding Boost: Quest Critical Metals has received three tranches of EU grant funding, bolstering its exploration efforts.
Top European Collaboration: The Company has collaborated with leading geologists and geophysicists in Europe, benefiting from their expertise. Notably, Professor Jiri Zacharias of Charles University, Prague, contributed to the understanding of the ore body evolution at Tisova.
Data Contribution: Quest Critical Metals’ data has played a crucial role in creating the Volcanogenic Massive Sulphide (VMS) identifying model.
Tisova Project Advancement: The EIS project is advancing into its testing phase in 2024, with Klingenthal/Tisova identified as the sole test site for planned drilling activities.

EIS Project Awareness Campaign:

The EIS Project aims to raise awareness of the importance of Critical Minerals and the challenges associated with their exploration within the EU. Golden Pet, the Company’s wholly-owned subsidiary, serves as a case study for this campaign.

Objective: Targeting governments, corporations, and stakeholders, the campaign will culminate at the EU Raw Minerals Week in November 2024 in Brussels.

Engagement: A dedicated workshop at the PDAC 2024 Convention in Toronto, Canada, will be led by EIS Project partners, engaging with leading mineral exploration and mining companies.

Quest Critical Metals is poised for significant advancements, with its participation in the EIS Project and strategic acquisitions positioning the Company for growth and success in critical minerals exploration.