- Critical Resources (CRR) hits new spodumene lithium mineralisation outside its existing resource
- The significant intersection of spodumene mineralised pegmatite returned a 74.4-metre wide section grading at 1.18 per cent lithium from 176 metres depth
- It also included a 32.9-metre wide section grading at 1.81 per cent lithium from 215 metres
- The company believes the latest find could add significantly to its current mineral resource
- Critical Resources shares last traded at 5.5 cents
Canada-based lithium explorer Critical Resources (CRR) has confirmed the discovery of thick high-grade lithium at its Mavis Lake project in Ontario.
The hard-rock lithium play acreage has previously been proven to confirm spodumene-type mineralised lithium, and more mineralisation of the same style has now been found.
The latest significant intersections from drilling included a 74.4-metre wide section grading at 1.18 per cent lithium from 176 metres depth; and, a 32.9-metre wide section grading at 1.81 per cent lithium from 215 metres.
Critical Resources believes the deep-lying high grades confirm the existence of an as-of-yet-undiscovered mineral system underground. The company is applying for the right to construct new facilities on-site to allow for further drilling of this target area.
This new find is logged outside the boundaries of an existing area that forms the company’s mineral resource estimate, suggesting Critical may be able to boost its resource should the underground system be proven expansive.
An ongoing drill campaign at the Main Zone target continues, with assays to be delivered in the coming weeks and months.
Critical acquired the project in 2022 and is one of the few ASX-listed companies with a JORC resource in Ontario.
Critical Resources shares last traded at 5.5 cents.