Exploration and development company Critical Resources (ASX:CRR) reports that it has begun a Scoping Study at the Mavis Lake Lithium Project in Ontario, Canada.
The company has appointed resource consultancy and lithium project specialist Wave International to undertake the study, which will seek to define the process, and non-process infrastructure requirements for Mavis Lake, as well as the preliminary estimated capital and operating costs.
This study will address specific project development, delivery, and operating considerations including permitting and approvals, mine planning, beneficiation flowsheet, risk management, sustainability measures, and product logistics.
The outcomes of the study will form the basis of future feasibility studies and preliminary economic assessment for Mavis Lake.
“The results of the Scoping Study will define the forward work plan for next few years as we advance the project”
Critical also reports the study will provide initial indications of the project valuation matrix and optimisation, and forward-work plan required to bring Mavis Lake into production.
Commenting on the Scoping Study, Critical Resources Managing Director Alex Cheeseman said: “We are pleased to have initiated the Scoping Study into Mavis Lake and expect the study to highlight tangible commercial advantages for the project given the access to existing logistics infrastructure, supply chains and support services. Mavis Lake is truly unique in this perspective.
The results of the Scoping Study will define the forward work plan for next few years as we advance the project. Importantly we will start to confirm operating size/scale potential and a targeted production timeline.
These are key requirements to allow us to engage with potential strategic partners and customers. It is a fantastic time to be developing a lithium project in Canada.”
Critical Resources expects the Scoping Study to be finalised by mid-2023.
Critical Resources is an exploration and development company focused on advancing and developing critical metals projects for a decarbonised future. The company holds a suite of lithium prospects across Ontario, Canada, including the Mavis Lake, Graphic Lake, Plaid, and the Whiteloon Lake.
It also holds the Halls Creek Project in New South Wales, and the Block 4 and Block 5 Copper Project in Oman.