Critical Resources (ASX:CRR) has confirmed the presence of a ‘high-grade’ lithium spodumene-bearing pegmatite at its 100% owned Mavis Lake Lithium Project in Ontario, Canada.
The results, generated by 45 of 49 drillholes, successfully build on earlier successes seen in recent months and have intersected an additional spodumene-bearing pegmatite that correlates with higher-grading lithium oxide assays.
Standout drill hole MF22-72 returned a ‘significant’ grade of 21.1m @ 1.34% Li2O, incl. 8.6m @ 1.91% Li2O.
Speaking on the result, Critical Resources Chairman Robert Martin, said: “The company’s drilling program continues to intersect exceptional grades and show the lithium-bearing pegmatites remain open at depth and along strike.
“The company’s drilling program continues to intersect exceptional grades”
Visual inspections to date indicate that these strong assay results are likely to continue and will help us to ultimately define our maiden JORC compliant resource.”
The company also notes that this recent discovery has led to a fast-track of its current phase two drill program, by starting a further 5,000m of drilling with a focus on step-out and infill work in order to support its goal of defining a JORC-compliant Mineral Resource Estimate (MRE) for the project.
Interestingly, the results indicate that the projects hosted pegmatites, located between pegmatite 6 through to pegmatite 13, could be one continuous pegmatite zone boasting a strike length of 3km.
The Mavis Lake Project is located about 19km from the township of Dryden within a first class, low-risk mining jurisdiction in Ontario, Canada and is prospective for lithium mineralisation with historic exploration dating back to the 1950s.
Recent drilling programs conducted in 2017 and 2018 have defined strong mineralisation and grades more than 200m from surface, with the potential along strike and at depth yet to be tested.
With the current drilling programs still ongoing, Critical Resources announces that it remains focused on defining a JORC-compliant MRE for the Mavis Lake Project.
Images: Critical Resources Ltd
