Lithium development company Critical Resources (ASX:CRR) has intersected spodumene-bearing pegmatites up to 27.45m thick in latest drilling at the Mavis Lake Lithium Project in Ontario, Canada.
The company reports the ‘significant’ intercepts from the Main Zone include drillhole MF23-191 with 27.45m of spodumene mineralisation from 222.35m; and MF23-192 with 11.75m of spodumene mineralisation from 181.95m
The intercepts from the South Zone include drillhole SZ23-012 with 6.05m of spodumene mineralisation from 227.5m; and SZ23-021 with 5.60m of spodumene mineralisation from 34.5m.
Commenting on the drill results, Critical Resources Managing Director Alex Cheeseman says: “Our drilling campaign and concurrent studies are laying a solid foundation for the next development phase of this highly prospective project.
With each set of assay results, our understanding of the asset grows and so too does our confidence in the project. We are pushing hard to receive all outstanding assays so we can complete our maiden mineral resource estimate as quickly as possible.”
“Our drilling campaign and concurrent studies are laying a solid foundation for the next development phase of this highly prospective project”
The testing of the down-dip extension of the Main Zone continues to intercept thick spodumene-bearing pegmatites. Critical Resources notes that the Main Zone remains open at depth.
Critical Resources reports that all results will be incorporated into Mavis Lake’s JORC 2012 compliant maiden Mineral Resource Estimate.
In addition to an ongoing drilling program at Mavis Lake, technical and environmental studies are underway to support a pending Scoping Study for the Mavis Lake Lithium project.
The company is currently awaiting assays from samples collected from more than 47 individual drillholes and will update the market as details are made available.
Mavis Lake is an advanced exploration project with near-term development potential. Critical Resources completed over 19,500m of drilling in 2022 and has begun another ‘significant’ drilling program in 2023. The company has also started initial studies that will underpin the transition from explorer to developer.
Critical Resources is advancing and developing critical metals projects for a decarbonised future. The company holds a suite of lithium prospects across Ontario, Canada, including Mavis Lake, Graphic Lake, Plaid, and Whiteloon Lake.
Images: Critical Resources Ltd
