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Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to advise the commencement of its 2023 drilling campaign at Mavis Lake. The Company aims to complete a minimum 20,000m of diamond core drilling, building on the achievements of the 2022 program.
Highlights
- 2023 drill program has commenced and will complete a minimum 20,000 meters
- The program aims to continue defining lithium mineralisation at the Mavis Lake Main Zone
- A second drill rig has also been mobilised to test known outcroppings of lithium- bearing pegmatite across the property
- Drilling is scheduled to run throughout 2023
- The drilling program follows the successful completion of 19,878 meters of drilling at Mavis Lake in 2022
- 2022 program assays are pending for core from 29 drill holes
Critical Resources’ Managing Director Alex Cheeseman said:
“Following the success of the 2022 drilling program 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.
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 program.
We look forward to continuing to update the market as results become available, and are set for another very busy year.”
Initial Program Objectives
The 2023 drill program 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 program (refer to ASX Announcement 21 December 2022), will also be tested. Possible pegmatite extension areas can be seen in Figure 1.
Figure 1 – Vertical cross section of intercepts, with stacked pegmatite projection
The drill program 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 1-2 days.
Gullwing-Tot Lakes Transaction
In early January 2023, the Gullwing-Tot Lakes transaction was completed (refer to ASX Announcement 29 December 2022), with the Gullwing-Tot Lakes claim titles being transferred from Power Metals Corp to Critical Resources.
This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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