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- Critical Resources (CRR) reports another round of high-grade lithium results from drilling at its flagship Mavis Lake project in Ontario, Canada
- The results come from drilling completed in October and November last year and include multiple hits of between 3.2 per cent and 4.3 per cent lithium oxide
- Critical Resources plans to incorporate the new results into an upcoming maiden mineral resource for the Mavis Lake project
- The company is now planning to continue drilling and metallurgical testwork at the project as it gears up to conduct a scoping study
- Shares in Critical Resources are trading at 4.9 cents at 10:01 am AEDT
Critical Resources (CRR) has reported another round of high-grade lithium hits from drilling at its flagship Mavis Lake project in Ontario, Canada.
The results, which come from drilling work completed in October and November last year, confirmed regular intercepts grading above 1.2 per cent lithium oxide, with several intercepts returning “very high-grade” results of between 3.2 per cent lithium oxide and 4.3 per cent lithium oxide.
Some of the best results include a 7.3-metre intercept at 1.59 per cent lithium oxide in one hole and an 8.06-metre intercept at 1.2 per cent lithium oxide in another. In this second hole, lithium grades reached up to 3.28 per cent.
Critical Resources plans to incorporate all of the new results into an upcoming maiden mineral resource for the Mavis Lake project.
Managing Director Alex Cheeseman said the “consistent” new results built upon the “emerging picture of mineralisation” at the project.
“These latest results follow recent metallurgical test work, where raw material from Mavis Lake was converted to a high-grade, low-impurity concentrate,” Mr Cheeseman said.
“Our coordinated program of activities at Mavis Lake continues to gather pace. We remain squarely focused on unlocking the development potential of Mavis Lake.”
The company said the planned Mavis Lake resource estimate would be underpinned by the 19,500 metres of drilling it completed over 2022. Assay results are still pending from drilling work done in December and over 2023 so far.
Looking ahead, the company now plans to continue drilling and metallurgical testwork at Mavis Lake, with baseline technical and environmental studies underway to support the preparation of a scoping study for the project.
The company is still waiting on assay results from 39 drill holes at Mavis Lake.
Shares in Critical Resources were trading at 4.9 cents at 10:01 am AEDT.
