Critical Resources Limited (ASX:CRR) has kicked off its 2023 drilling campaign at Mavis Lake in Ontario.
The company aims to complete a minimum 20,000m of diamond core drilling, building on the achievements of the 2022 programme.
“Following the success of the 2022 drilling programme and the exceptional results we have delivered from Mavis Lake, including some of the highest grading assay results released in 2022, it is exciting to have commenced another significant drilling campaign in 2023,” “Managing Director Alex Cheeseman, said.
Our actions and efforts to invest in large-scale drilling, reflects our focus and commitment to advancing the Mavis Lake Lithium Project.
“We have extension drilling underway, drill-ready targets surrounding the Main Zone and assays from 29 drill holes pending from our 2022 programme.
“We look forward to continuing to update the market as results become available, and are set for another very busy year.”
Initial Programme Objectives
The 2023 drill programme is focused on expanding the down-dip extension of multiple spodumene-bearing pegmatite stacks within the Mavis Lake Main Zone. A lower pegmatite stack, identified late in the 2022 drilling programme will also be tested.
The drill programme is currently utilising two diamond drill rigs, with the first drill rig focused on extension drilling of the Main Zone, with the second rig to be utilised for both extension drilling together with testing multiple mapped, outcropping spodumene-bearing pegmatites located within the vicinity of the Mavis Lake Main Zone.
Drill Rig 1 commenced drilling at Mavis Lake on 10 January 2023, Drill Rig 2 mobilised to Mavis Lake on 9 January 2023 and is scheduled to commence drilling within the next one to two days.
Gullwing-Tot Lakes Transaction
In early January 2023, the Gullwing-Tot Lakes transaction was completed with the Gullwing-Tot Lakes claim titles being transferred from Power Metals Corp to Critical Resources.
Future Works and Programme
Following the completion of the flow through funding-based capital raise in Q4CY22, the company is well capitalised to complete the planned (minimum) 20,000m of drilling at Mavis Lake. The funding also allows for additional drilling (to be planned based on results delivered in H1CY23), as well as other forms of on/in ground exploration work.
The full exploration programme for 2023 is being finalised and will include efforts at both the Mavis Lake site and the Gullwing-Tot Lakes properties.
To date, drilling at Mavis Lake has only covered approximately 1% of the total land area held by Critical Resources.
With significant exploration potential, the company expects a range of exploration techniques to be utilised in the Canadian summer months.
For further information please visit: https://www.criticalresources.com.au/
