Emerging critical minerals company Critical Resources (ASX:CRR) reports new assays have extended the ‘high-grade’ lithium (Li2O) mineralisation strike length to 1,300m at the Mavis Lake Lithium Project in Ontario, Canada.
The company says assays from 30 drillholes confirm ‘significant’ lithium mineralisation and extend the known mineralisation strike length by 550m.
These latest assays also continue to demonstrate ‘consistently high’ lithium grades with multiple intercepts grading over 1.2% Li2O, with some sections grading up to 4.2% Li2O.
Critical Resource Managing Director Alex Cheeseman says the company has been actively drilling and developing the Mavis Lake tenement for almost a year and it is very pleased with another round of excellent results.
“In less than 2 months, the strike length of known mineralisation at Mavis Lake’s main zone has increased significantly and remains open”
“In less than 2 months, the strike length of known mineralisation at Mavis Lake’s main zone has increased significantly and remains open, our drilling strategy is delivering results that will directly support our maiden resource.
Latest drilling results include multiple ‘high-grade’ intercepts, as well as an extremely ‘high-grade’ section of up to 4.2% Li2O. The extension of the mineralisation zone supports our broader development plans at Mavis Lake.
The opportunity to develop a lithium project with class-leading logistics and existing, immediately accessible infrastructure that provides a direct path to market, will enable Critical Resources to deliver into the Canadian and American electric vehicle supply chain during a period of unprecedented investment and growth.”
Standout assay results recorded at Mavis Lake include 7.1m @ 1.23% Li2O from 13.35m downhole in MF22-129; 7.6m @ 1.30% Li2O from 135m in MF22-149; and 7.7m @ 1.23% Li2O from 183.82m MF22-150.
The company states it has completed 18,500m of drilling in 2022, with assays still pending for 26 drillholes. These results will also be included in a maiden Mineral Resource Estimate (MRE) for Mavis Lake.
Critical Resources reports drilling is continuing at the project, with the drilling program moving between main zone extension and testing mapped pegmatites adjacent to the main zone.
The company says it is focusing its efforts on drilling targets that will add to the potential mineral resource at Mavis Lake. Study work is also ongoing in support of future development plans.
Critical Resources is an emerging critical minerals company focused on its flagship Mavis Lake Lithium Project, located in the Ontario Province of Canada.
The company also holds the Halls Peak Base Metals Project in the New England region of New South Wales and the Sohar Copper Project in Northern Oman.
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