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Lithium exploration and project developer Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to report further outstanding assay results from the Mavis Lake Lithium Project in Ontario, Canada.
Highlights
- Latest assay results from recent drilling at Mavis Lake have demonstrated continuity with previous, thick high-grade intercepts.
- The high-grade mineralisation within the Swell Zone starts from surface and extends over 1 kilometer in strike from east to west.
- Standout new assay results include:
- Drill-hole MF23-226 with a Swell Zone intercept of 31.55m @ 1.06% Li2O from 205.6m down-hole, and an additional ‘Lower Zone’ high-grade intercept of 20.7m @ 1.44% Li2O from at 339.3m down-hole.
- Multiple intercepts in drill-hole MF23-228, including:
- 16.8m @ 1.18% Li2O from 177.05m down-hole,
- 12.85m @ 1.39% Li2O from 208.1m down-hole, and
- 14.85m @ 1.25% Li2O from 333.25m down-hole.
- Multiple Project development workstreams continue including baseline environmental studies, metallurgical test work, mining studies and project economic analysis.
- Results pending from Main Zone drilling at Mavis Lake and drill-target generation field work at the Project’s northern prospects.
The latest assays have confirmed and extended the recently discovered Swell Zone and, when integrated with previous drilling results, show a thick, high-grade mineralised structure, starting from surface and extending over 1km in strike, sitting oblique to the current Mineral Resource Estimate (MRE).
1km Strike Length of Swell Zone
Recent drilling has established an important connection between previous drilling results, validating the Swell Zone discovery and demonstrating substantial Resource upside.
Current assays confirm a significant, 1km strike of high-grade mineralisation, starting at surface (refer to Figure 2) in the east and plunging gently to the west. Significant assays are shown in Table 1 and full exploration results are provided in Appendix 1.
The results confirm substantial thicknesses of high-grade lithium spodumene mineralisation. Importantly, when incorporating historical drilling the Company has now achieved tight drill spacing (approximately 50m spacing). The thickness and continuity of the Swell Zone, commencing from surface, is expected to contribute to positive future mining economics.
Much of the Swell Zone mineralisation sits outside the current Inferred MRE for Mavis Lake and presents as an immediate opportunity for immediate Resource growth.
Figure 1: Plan view illustrating the collar location of released assay results and section locations.
Lower Zone Identified
Drill Holes MF23-226, MF23-227, MF23-228 and MF23-229 have all continued to intersect a “Lower Zone” of high-grade mineralisation, with a standout intercept of MF23-226 of 20.7 metres at 1.44% Li2O.
This Lower Zone was not identified in the Maiden Mineral Resource Estimate and presents as another immediate opportunity for Resource growth.
The Lower Zone can be seen in context relative to the Mavis Lake Main Zone intercepts in Figure 3.
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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.
CRR:AU
Spodumene Pegmatite Discovery at Esperança Project in Brazil Yields LIBS Results up to 4.04% Li2O
The discovery has been made during early-stage exploration programs which include project scale geological mapping, ground reconnaissance, and soil sampling. These early-stage programs remain ongoing with further results to come over the coming weeks. The discovery supports the Company’s exploration thesis and uplifts the remaining prospectivity across all three project areas: Canabrava, Caraíbas and Esperança projects.
HIGHLIGHTS
- Artisanal excavations reveal a lithium bearing pegmatite with elongate crystalline spodumene crystals up to 50cm in length
- LIBS (Laser Induced Breakdown Spectroscopy) results of spodumene crystals return up to 18,800 ppm Lithium, or 4.04% Li2O
- Discovery provides walk up drill target for fully funded drilling campaign to begin Q1 2025
- Soil sampling and geological mapping continues across the Esperança, Canabrava and Caraíbas projects with further results due over the coming weeks
Lightning Minerals Managing Director Alex Biggs said, “I am highly encouraged by these results from Brazil. As I have spoken about, as a team we are committed to discovery and completing our works in a diligent and structured manner, the proof of which is in these results. The Company is progressing its projects in Brazil quickly and cost effectively and generating significant results for the business which we feel will be transformational. I am proud of and congratulate our geology teams both in Australia and Brazil who have conducted themselves in a professional and astute manner which has been crucial in making a discovery such as this. This is a great first step for us in Brazil and is testament to the prospectivity of the region as I have discussed previously. We look forward to drilling in Q1 2025 and further results to come imminently from all three project areas in Brazil. I would also like to thank our shareholders who have supported our vision and exploration strategy. As a Company we are firmly committed to the lithium thematic and firmly committed to Brazil where we see significant potential moving forwards”.
Lithium Discovery at Esperança Project
During geological mapping fieldwork conducted in mid-November 2024 field geologists encountered a previously unknown historical artisanal mine within the Esperança project area. The site presented with a small access which opened into a set of sub vertical shafts sunk several meters into schists of the Salinas formation. Upon investigation the geology team has discovered pegmatitic lithologies in the walls of the excavations, of which the suite of minerals indicates inclusion of macro crystalline (up to 50cm) elongate crystals of spodumene as shown in Figure 1(a) and Figure 1(b).
Figure 1a (left): Brazilian geologist Vitor Araujo Alves showing the spodumene rich portion of the zoned pegmatite discovered at the Esperança Property. Figure 1b (right): Large elongate spodumene crystals (Spd) up to 50cm in length showing homogeneous growth patterns amongst a quartz (Qtz) and Feldspar (Fdsp) rich matrix
The Company’s geologists have collected selective mineral specimen grab samples in sample VLM207 (Figure 2). Six separate minerals have been analysed via a SciAps Z-903 hand-held LIBS (Laser-Induced Breakdown Spectroscopy) device which has returned lithium endowment of up to 18,800 ppm lithium, which equates to a lithium oxide percentage of 4.04% Li2O.
The SciAps Z-903 handheld LIBS device is considered a qualitative analysis technique only and is used as an in-field preliminary check to establish if a mineral is lithium-bearing. Certified laboratory assays are required to provide accurate, quantitative analysis. A table of the six SciAps Z-903 handheld LIBS results testing the spodumene crystals is shown in Table 1. A full table of results are presented in Appendix 2, Table 2.
While the current field observations indicate that the mineral identified is a lithium-bearing mineral, the percentage of lithium produced from the LIBS analyser does not correlate to an accurate quantitative measurement of the lithium concentration of the mineral itself, or to the overall grade of the pegmatite.
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This article includes content from Lightning Minerals, 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.
