- Critical Resources (CRR) announces further “excellent” intercepts from drilling at its Mavis Lake lithium project in Ontario, Canada
- Spodumene-bearing pegmatites up to 27.45 metres thick were intercepted at both the Main Zone and South Zone at Mavis Lake
- CRR says the results will be incorporated into Mavis Lake’s upcoming maiden mineral resource estimate
- The company says it will continue to test and assess its mapped pegmatites to gather a better understanding of the sub-surface structures and associated mineralisation
- Shares in CRR are down 6.7 per cent and trading at 4.2 cents at 2:42 pm AEDT
Critical Resources (CRR) has announced further “excellent” intercepts from drilling at its Mavis Lake lithium project in Ontario, Canada.
The company revealed spodumene-bearing pegmatites of up to 27.45 metres thick at both the Main Zone and South Zone at Mavis Lake.
Critical Resources Managing Director Alex Cheeseman said the results added to the growing confidence surrounding the project.
“Our drilling campaign and concurrent studies are laying a solid foundation for the next development phase of this highly prospective project,” Mr Cheeseman said.
“With each set of assay results, our understanding of the asset grows and so too does our confidence in the project; we are pushing hard to receive all outstanding assays so we can complete our maiden mineral resource estimate as quickly as possible.”
Other significant intercepts included spodumene-bearing pegmatites 11.75 metres thick from 181.95 metres downhole, 6.05 metres thick from 227.5 metres downhole and 5.60 metres thick from 34.5 metres downhole.
Critical Resources confirmed the results from its drilling would go into Mavis Lake’s upcoming maiden mineral resource estimate.
The company will continue drilling to test and assess its mapped pegmatites to acquire a better understanding of the sub-surface structures and associated mineralisation.
In addition, technical and environmental studies have commenced supporting a pending scoping study for Mavis Lake.
Shares in CRR were down 6.7 per cent and trading at 4.2 cents at 2:42 pm AEDT.