Shares of Critical Metals Corporation (CRML) witnessed a remarkable surge of 7.48% in intraday trading on Tuesday, propelled by the company's groundbreaking discovery of one of the world's highest concentrations of gallium at its Tanbreez Rare Earth Project in Southern Greenland.

According to the company's latest update, initial results from a recent drilling program have identified four high-grade zones at the Tanbreez site, including the "Area G" zone, which yielded gallium values reaching up to 147 ppm Ga2O3. This exceptional concentration of gallium, an essential rare earth element used in computer chips and defense applications, underscores the immense potential of the Tanbreez Project, one of the world's largest rare earth assets.

Critical Metals Corp's CEO, Tony Sage, expressed enthusiasm over the findings, stating that the drilling results demonstrate the "significant upside potential" of the Tanbreez Project. The company plans to further investigate the gallium mineralization, capitalizing on the growing market demand for this critical metal, currently worth billions of dollars annually and expanding at approximately 20% per year.