Australian Critical Minerals (ASX:ACM) is progressing a 900m reverse circulation (RC) drilling program at its joint venture (JV) Rankin Dome Project in Western Australia. 

It comes as the company recaps its inaugural quarter as a listed explorer, having raised $5 million through an initial public offering in July. 

State One Equities acted as lead manager for the IPO, which received ‘strong’ support from institutions and sophisticated investors. Funds raised through the IPO were directed towards various exploration activities at the Cooletha Lithium and Rankin Dome Rare Earth projects.  

Australian Critical Minerals, which has a $12.4 million market capitalisation, followed its IPO by undertaking a ‘comprehensive’ mapping and surface sampling program at Cooletha, with phase one sampling comprising 251 rock samples gathered from 25% of the granted tenure.

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