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- Critical Resources (CRR) confirms high-grade lithium mineralisation along a “significant” strike length at its Mavis Lake lithium project in Ontario, Canada
- The company has received the latest assays from drilling completed between November 2022 and February 2023 that tested the Main and South Zone
- The company reported thick spodumene-bearing pegmatites at the Main Zone, with assay results highlighting “significant” intercepts of high-grade lithium mineralisation
- At the South Zone, assays included 6.08 metres at 1.66 per cent lithium oxide from 73.12 metres downhole
- This data will be incorporated into CRR’s current resource modelling that will underpin the release of a maiden mineral resources estimate for Mavis Lake
- Critical Resources shares are up 5.88 per cent to 3.6 cents at 11:09 am AEDT
Critical Resources (CRR) has confirmed high-grade lithium mineralisation along a “significant” strike length at its Mavis Lake lithium project in Ontario, Canada.
The company has received assays from drilling completed between November 2022 and February 2023. With two rigs spinning on site, CRR tested the mineralisation of the Main Zone while simultaneously testing new targets in the South Zone.
The company has reported thick spodumene-bearing pegmatites at the Main Zone, with assay results highlighting “significant” intercepts of high-grade lithium mineralisation.
Stand-out results from this area included 16.3 metres at 1.44 per cent lithium oxide from 258.5 metres downhole, including ten metres at 2.05 per cent lithium oxide from 260.85 metres downhole.
This data will be incorporated into the current resource modelling that will underpin the release of a maiden mineral resources estimate for Mavis Lake.
At the South Zone, assays included 6.08 metres at 1.66 per cent lithium oxide from 73.12 metres downhole and 9.45 metres at 1.22 per cent lithium oxide from 111.85 metres downhole.
Critical has now completed over 29,530 metres of drilling at Mavis Lake since April 2022 as part of its ongoing campaign.
“In less than 12 months, we have drilled almost 30,000 metres, delivering exceptional lithium intercepts, confirming high-grade mineralisation and extending the known strike of the main zone,” Critical Resources Managing Director Alex Cheeseman said.
He said Mavis Lake stood nearby to local services and infrastructure that were “essential” for the future development and operation of a lithium mine — providing “exceptional value and benefit” to the project.
“This fact and the exploration success we continue to have all affirm our belief that we’re
developing the right project in the right place at the right time,” Mr Cheeseman said.
“The Mavis Lake lithium project is perfectly aligned to support the demand being driven by North America’s rapidly expanding electric vehicle market.”
Drilling is scheduled to continue at Mavis Lake, with CRR’s immediate focus on the South Zone and the testing of the multiple mapped pegmatites within the area.
Technical and environmental studies are also being completed in support of a scoping study for Mavis Lake.
Critical Resources shares were up 5.88 per cent to 3.6 cents at 11:09 am AEDT.
