Lithium developer Critical Resources (ASX:CRR) has begun a resource extension drilling campaign at the Mavis Lake Lithium Project in Ontario, Canada.
This campaign is in support of a future resource upgrade at the company’s wholly owned project, designed to confirm mineralisation both laterally, near surface, and at depth.
Critical Resources says the drillholes have been designed to provide a category upgrade and an increase in total resource tonnage.
Commenting on the drilling campaign, Critical Resources Managing Director Alex Cheeseman says: “Off the back of the maiden Mineral Resource Estimate, it’s great to have the drill rigs spinning in support of a resource upgrade.
“We’ve said it before, but this really is just the start for Mavis Lake; there is so much potential and growth opportunity with this project”
We’ve said it before, but this really is just the start for Mavis Lake; there is so much potential and growth opportunity with this project.
Along with resource growth, we continue to advance multiple development streams and have a clear pathway to value creation.”
The infill drilling program will seek to ensure that a ‘high proportion’ of the future resource is upgraded from the inferred to the indicated category.
Planned drillholes will continue to infill at 50m drillhole spacing across the current resource mineralised ore shapes. Infill drilling will also test mineralised zones for extensional/resource expansion potential.
Critical Resources is advancing and developing critical metals projects for a decarbonised future. The company holds a suite of lithium projects across Ontario, Canada, including Mavis Lake, Graphic Lake, Plaid, and Whiteloon Lake.
As of 31 March 2023, the company had $5.59 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Critical Resources Ltd