Critical Resources (ASX:CRR) reports it has intersected another ‘significant’ spodumene bearing pegmatite at the Mavis Lake Lithium Project, located in Ontario, Canada.
The company says it intersected 31.75m of ‘well mineralised’ spodumene-bearing pegmatite in drillhole MF22-163, and the intercept extends the known mineralised zone and will contribute to the resource modelling work currently underway with SGS Canada.
It also notes 42 drillholes within the Main Zone at Mavis Lake are currently pending assay results, and this latest intercept will be included in the maiden mineral resource estimate (MRE) due for release in Q1 2023.
Critical Resources Managing Director Alex Cheeseman said the latest excellent intercept at Mavis Lake combined with the exceptional results the company has released to the market over the last few months strengthen an already firm belief that the company will be delivering a maiden resource in the new year.
“The lithium sector in Canada is starting to gain momentum and we are perfectly positioned to advance Mavis Lake and be part of a North American lithium industry that is demanding unprecedented growth”
“The lithium sector in Canada is starting to gain momentum and we are perfectly positioned to advance Mavis Lake and be part of a North American lithium industry that is demanding unprecedented growth over the rest of this decade.
With over 40 drillhole assays pending and drilling ongoing we will continue to update the market as information comes to hand.”
Over the period of November 7 and 8, Critical says independent resource modelling consultants SGS Canada completed their necessary site visit to Mavis Lake where they reviewed core storage, core and drill logs, inspected the drillers as they were drilling MF22-163 and performed customary checks and data correlation in support of the MRE process currently underway.
Critical also reports it is preparing to conduct a move from the Main Zone to test a number of spodumene bearing pegmatite outcrops before the heavy winter sets in, with these target never being drill tested.
It notes successful drilling and development of these adjacent pegmatite systems will further add to the maiden JORC resource being developed at Mavis Lake.
Critical Resources is mineral exploration and development company focused on the its flagship Mavis Lake Lithium Project in Ontario, Canada.
The company says it has an opportunity for further regional growth through exploration at its Graphic Lake, Plaid and Whiteloon prospects, along with expanding its Canadian portfolio through potential increased land holdings, mergers and acquisitions.
Critical also hold the Halls Peak Base Metals Project in New South Wales and the Block 4 and Block 5 Copper Project in Oman.
Images: Critical Resources Ltd
