Lithium development company Critical Resources Limited’s (ASX:CRR) latest assay results have confirmed high-grade lithium mineralization along a significant strike length at the company’s wholly-owned Mavis Lake Lithium Project in Ontario, Canada.
The latest assay results have been delivered from drilling completed over the period November 2022 to February 2023. With two drill rigs on site, the company was able to continue testing mineralization of the Main Zone, whilst simultaneously testing new targets in the Southern Zone.
Lithium mineralization extended within the Main Zone
Thick spodumene-bearing pegmatites continue to be intersected at the Main Zone with assay results highlighting significant intercepts of high-grade lithium mineralization. Assay data is being incorporated into the current resource modelling that will underpin the release of a Maiden Mineral Resources Estimate (MRE) for Mavis Lake.
Assays confirm consistent lithium mineralisation at the newly discovered South Zone
Assay data also confirms consistent lithium mineralization throughout mapped Pegmatites 11, 12 and 20, a newly discovered southern zone. This is an excellent result for the company from the first round of drill testing on these southern targets.
Future Work
Drilling continues at Mavis Lake with the immediate focus on the Southern Zone and the testing of the multiple mapped pegmatites within the area.
Resource modelling work is ongoing in support of the release of a JORC 2012 compliant, Maiden MRE for Mavis Lake.
Technical and environmental studies are being completed in support of a Scoping Study for Mavis Lake.
“In less than 12 months we have drilled almost 30,000m, delivering exceptional lithium intercepts, confirming high-grade mineralization and extending the known strike of the main zone,” Managing Director Alex Cheeseman said.
“Mavis Lake’s stand-out proximity to local services and infrastructure, which are essential for the future development and operation of a lithium mine, provide exceptional value and benefit to the project.
“This fact and the exploration success we continue to have, all affirms our belief that we’re developing the right project in the right place at the right time. The Mavis Lake Lithium Project is perfectly aligned to support the demand being driven by North America’s rapidly expanding electric vehicle market.
“Our ongoing drilling program and technical studies form part of a clearly-defined pathway towards the development of Mavis Lake and unlocking value for shareholders.”
For further information please visit: https://www.criticalresources.com.au/
