Lithium explorer Critical Resources (ASX:CRR) has recorded up to 3.2% lithium oxide (Li2O) in rock chip samples from the Gullwing and Tot prospects within its Mavis Lake Lithium Project in Canada.
The $87.71 million market capitalisation company reports field teams conducted grassroots exploration around the Gullwing and Tot lithium-caesium-tantalum (LCT) pegmatites from May to early June 2023. The purpose of this work was to confirm historical exploration results, extend the known footprint of LCT pegmatites, and support the development of ‘high-confidence’ drilling targets for future programs.
Along with geological mapping, 281 rock chip grab samples and 272 soil samples were taken over a strike extent of about 10km. The company reports rock chips returned positive litho-geochemical assay results, while the results from mobile metal ion (MMI) analyses of the soil sample results are pending.
The ‘standout’ rock chip results recorded include sample 3347562 with 3.2% Li2O from spodumene; sample 347565 with 2.6% Li2O from spodumene; and sample 347604 with 2.4% Li2O from spodumene.
Critical Resources reports the initial results from this field program confirm the Gullwing and Tot pegmatites as ‘high-priority’ drill targets, with the newly discovered pegmatite outcrop at Little Wing further increasing the company’s confidence levels in the prospectivity of this northern part of Mavis Lake.
The company also says the pending results from the MMI soil survey could also support further fieldwork across the 10km strike of known LCT pegmatite occurrences and lead to the identification of further ‘high-confidence’ drill targets.
Additionally, field crews discovered elevated lithium and rubidium within a newly discovered pegmatite about 250m west of the Gullwing Lake pegmatite that could represent a secondary drill target. This outcrop has a surface expression of about 200m north-south by 50m east-west.
Drill permits pending approval include drill pads to allow testing of the Little Wing outcrop.
Critical Resources says it’s likely to commit to an initial drilling program at Gullwing and Tot in the coming months, which may run concurrently with the resource extension drilling underway at the Mavis Lake Main Zone.
Commenting on the results, Critical Resources Managing Director Alex Cheeseman says: “The Gullwing and Tot prospects represent an exciting growth opportunity for the company.
“we are applying the same robust and systematic exploration approach that has led to such great success at the Mavis Lake Main Zone”
This is back to true grassroots, early-stage exploration, and we are applying the same robust and systematic exploration approach that has led to such great success at the Mavis Lake Main Zone.
Whilst resource extension drilling continues at the Main Zone, the opportunity for a new discovery is always encouraging, not only at Gullwing and Tot but now also at Little Wing.
We still have field crews on the ground aiming to generate more targets for follow-up fieldwork and ultimately drill testing whilst continuing the current drilling program at the Main Zone. We are very encouraged by these results and the potential for a significant upgrade to the current resource.”
Critical Resources is an ASX-listed lithium explorer focused on its suite of lithium prospects across Ontario, Canada. These prospects include Mavis Lake, Graphic Lake, Plaid, and Whiteloon Lake.
In addition to its Canadian assets, the company holds a copper project in Oman and a base metals project in Halls Peak in New South Wales. On 31 March 2023, Critical Resources had $5.59 million cash at hand, according to its latest quarterly report published on 17 April 2023.
Write to Harry Mulholland at Mining.com.au
Images: Critical Resources Ltd