Critical Resources Limited’s (ASX:CRR) assay results from 30 drill holes confirm significant lithium mineralization, extending the known lithium mineralized strike length by 550 m at 100% owned Mavis Lake Lithium Project in Ontario.
The total strike length now sits at 1,300 m
All assay data will be provided to the independent resource geologist currently preparing the company’s Maiden Mineral Resource Estimate (MRE).
The MRE is being prepared on an open pit basis, the strike length at Mavis Lake and shallow pegmatites provide outstanding potential economic upside for the project.
“The company has been actively drilling and developing the Mavis Lake project for almost a year, and we are very pleased with another round of excellent results,” Managing Director Alex Cheeseman said.
“In less than two months, the strike length of known lithium mineralization at Mavis Lake’s main zone has increased significantly and remains open, our drilling strategy is delivering results that will directly support our maiden resource.
“Latest drilling results include multiple high-grade intercepts, as well as an extremely high-grade section of up to 4.2% Li20.
“The extension of the mineralized zone supports our broader development plans at Mavis Lake.
“The opportunity to develop a lithium project with class-leading logistics and existing, immediately accessible infrastructure that provides a direct path to market, will enable Critical Resources to deliver into the Canadian and American electric vehicle supply chain during a period of unprecedented investment and growth.”
Future Works
The company continues drilling at Mavis Lake, with the drilling programme moving between main zone extension and testing mapped pegmatites adjacent to the main zone.
The company is focusing efforts on drilling targets that will add to the potential mineral resource at Mavis Lake. Study work is ongoing in support of future development plans.
The company has 26 drill holes with assays pending and will provide updates to the market as and when results are made available.
For further information please visit: https://www.criticalresources.com.au/
