Critical Resources

Exceptional Lithium Results With 65m Intercept

Lithium exploration and project development company Critical Resources Limited ASX:CRR (“Critical Resources” or “the Company”) is pleased to report exceptional new thick, high-grade results from ongoing following drilling around the recent breakthrough drill-hole MF23-207, with assays continuing to validate and expand the recently discovered “Swell Zone” at the Mavis Lake Lithium Project in Ontario, Canada.


Highlights

  • Exceptional new results from drilling following up the recently reported results from drill-hole MF23-207 (74.4m @ 1.18% Li2O including 32.95m @ 1.81% Li2O).
  • Drill holes testing the Swell Zone both East and West of MF23-207 have continued to intersect large, high-grade intervals of mineralisation, providing a greater level of confidence that the thick, high-grade mineralisation extends over a 200m strike.
  • Assays confirm:
    • Drill-hole MF23-213 with 50.2m @ 1.28% Li2O from 203.6m down-hole, including multiple meter-wide segments of extremely high-grade spodumene mineralisation, from 2.11% Li2O to 4.18% Li2O.
    • Drill-hole MF23-214 with 65.45m @ 0.84% Li2O from 186.25m down-hole, including 55m @ 0.95% Li2O from 194m down-hole, including 25.85m @ 1.30% Li2O from 214m down-hole.
  • Permit approval for further drill pads to continue testing the Swell Zone are expected imminently, allowing follow-up drilling to commence in the coming weeks.
  • All drilling results are rapidly adding tonnage to the existing Resource, putting the Company on track for a major Resource upgrade in H1 2024.
Critical Resources Managing Director, Alex Cheeseman said:

“These outstanding results in terms of both thickness and grade provide further evidence that the Mavis Lake Swell Zone is a game-changing discovery for the Company.

“Continued wide, high-grade results make it clear that Mavis Lake is a project with significant potential. Its location, within 10km of the City of Dryden, immediate access to world-class infrastructure and the surrounding automotive industries in Southern Ontario and Michigan State, make this a project of strategic importance.”

Exploration Overview

Drilling has been designed to continue to test the Swell Zone both east and west of Drill Hole MF23- 207, within the limits of current approved drill pads. Assay results have confirmed that the Swell Zone has a current strike of 200m, showing consistency of mineralisation thickness (from 50m to 74m) and also consistency of grade (from 0.84% Li2O to 1.28% Li2O), including localised peaks of extremely high grade up to 4.18% Li2O.

Current drilling forms part of the 2023 resource extension drilling program, seeking to establish Mavis Lake as the largest single-site, JORC Code 2012 Compliant Lithium Resource in Ontario.

Full exploration results are provided in Appendix 1.

Demonstrating Consistency in the Swell Zone

The outstanding high-grade assays and broad zones of mineralisation in MF23-213 and MF23-214 extend the Swell Zone laterally while continuing to solidify the significance of the Swell Zone. Figure 1 shows the Plan view of the key intercepts in the Swell Zone, with Figures 2 and 3, a long section and cross section respectively, showing Swell consistency. Significant assay data can be seen in Table 1.

Figure 1 – Plan view of Swell Zone Result with Figures 2 and 3 cross-section reference

MF23-213 intersected the Swell Zone approximately 115m west from MF23-207’s 74.4m @ 1.18% Li2O pegmatite intercept. Drill hole MF23-213 provides a high level of confidence in the continuity of the large widths and high grades intersected so far in the Swell Zone while also delineating the trend and geometry of this important new structure towards the West, as shown in figure 2. The Swell Zone trend has a shallow plunge of approximately 10 degrees, trending at 280Az.


Click here for the full ASX Release

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
The Conversation (0)
Magnifying glass focusing on the Albemarle website logo.

Albemarle's Commitment to Sustainability Shines in New Report

As global demand for critical minerals intensifies, Albemarle (NYSE:ALB) continues to position itself as a global leader not only in lithium production but also in sustainable practices.

In its newly released 2024 sustainability report, titled “Values-Led, Purpose-Driven,” the company underscores its commitment to reducing its environmental footprint across six continents, supporting global supply chains and promoting human rights across operations.

From cutting freshwater intensity at its Chilean operations by 28 percent to procuring 24 percent of its electricity from renewable sources, Albemarle is striving to grow its energy storage business while keeping carbon emissions flat, as it translates ESG goals into action.

Keep reading...Show less
Salt flats with text overlay: '5 Top Australian Mining Stocks This Week'

Top 5 Australian Mining Stocks This Week: Argosy Climbs 89 Percent on Rincon Lithium Spot Contract

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top performing stocks includes firms focused on a wide variety of metals, including lithium, rutile and manganese. Lithium stocks, including top gainer Argosy Minerals (ASX:AGY), picked up momentum this week as prices moved upwards for a second straight week.

Companies focused on magnetite and rare earths were also among the week's top performers, including Freehill Mining (ASX:FHS), which saw its shares surge following insider buying from key executives including Chairman Benjamin Jarvis.

Keep reading...Show less
Metallic battery with a world map etched on it, against a dark background.

3 Key Themes from Fastmarkets' 2025 Lithium Supply & Battery Raw Materials Event

Market volatility, Chinese control, supply chain risk mitigation and financing emerged as some of the most prevalent themes at the 2025 Fastmarket’s Lithium Supply Battery Raw Materials (LBRM) conference in Las Vegas.

The event, which is in its 17th year, drew a crowd of roughly 1000 delegates, industry experts and analysts, to discuss the current landscape and future projections of the battery materials sector.

During his opening remarks, Fastmarkets CEO Raju Daswani highlighted the growth and maturation the battery raw materials sector has experienced.

Keep reading...Show less
Metals Australia (ASX:MLS)

Metals Australia


Keep reading...Show less
Futuristic skyline with electric car chargers and glowing cityscape at sunset.

Expert: African Lithium Key to China's Battery Supply Chain Dominance

With the global shift to electric vehicles (EVs) accelerating, China is cementing its dominance over the lithium supply chain by pouring investment into African mines, creating a new center of gravity for the battery metal.

Speaking at the Lithium Supply Battery Raw Materials conference, Claudia Cook senior analyst at Fastmarkets offered a sweeping assessment of how China is reshaping global lithium flows and why Africa will be crucial in the next decade.

Cook laid out in detail how China’s lithium strategy is evolving. As the world’s largest EV market, China needs a consistent, low-cost supply of lithium — but its domestic production is increasingly insufficient.

Keep reading...Show less

Latest Press Releases

Related News

×