Critical Resources Limited (ASX: CRR) has announced that the first drill hole completed as part of the company’s summer 2023 resource extension drilling programme, has intersected 74.4m of spodumene-bearing pegmatite at the company’s 100%-owned Mavis Lake Lithium Project in Ontario, Canada.
Critical Resources managing director, Alex Cheeseman said: “Extensional and in-fill drilling has been carefully planned as we step off known, modelled mineralization to upgrade and expand the maiden Resource however, the size of this intercept has well and truly taken Mavis Lake to a new level,”
“The intercept, along with other recently released exploration results are not currently included in our 8.0Mt resource. Targeted drilling will continue over the coming months, and we are truly excited as to the resource potential of this world class asset.”
The drill hole was designed to extend beyond the known mineralization area that defines the maiden 8Mt lithium mineral resource estimate at Mavis Lake. The intercept is the widest interval of spodumene mineralization recorded to date, highlighting the project’s significant upside potential.
In relation to the disclosure of visual mineralization, the company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest.
Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The reported intersections are down hole measurements and are not necessarily true width.
Visual estimates highlights
• Outstanding start to the summer drilling programme at Mavis Lake, with the first drill hole intersecting a massive 74.4m of continuous spodumene-bearing pegmatite
• Diamond drill hole MF23-207 intersected 74.4m of pegmatite with and average estimate of 20% spodumene
• The intercept is outside the current mineral resource envelope and is expected to result in a meaningful increase in total Resource tonnage
• Extension drilling will continue throughout the next few months to support a future Resource upgrade
• Assays are expected back form the lab in six to eight weeks
• Planning continues to drill test the highly prospective Gullwing and Tot Lakes pegmatites which are contiguous to the Mavis Lake tenements
“We are also working concurrently to test our Gullwing and Tot Lake pegmatites, where we have 8km of pegmatite clusters to test which can potentially add additional resources.” Alex added.
To find out more, please visit www.criticalresources.com.au
