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Lithium development company, Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased announce further assay results confirming high-grade lithium mineralisation along a significant strike length at the Company’s 100%-owned Mavis Lake Lithium Project in Ontario, Canada.
Highlights
- Critical Resources has now completed over 29,530 meters of drilling at Mavis Lake since April 2022 as part of its ongoing campaign
- New standout intercepts from the Main Zone include:
- Drill hole MF22-177 with16.3m @1.44% Li2O from 258.5m downhole; including 10m @ 2.05% Li2O from 260.85m downhole
- Drill hole MF22-178 with 17.8m @1.41% Li2O from 166.7m downhole; including 9.5m @1.86% Li2O from 172.4m downhole
- Drill hole MF23-190 with 14.7m @ 1.17% Li2O from 216.9m downhole; including 8.7m @1.87% Li2O from 221.7m downhole
- Standout intercepts from the newly discovered South Zone include:
- Drill hole SZ23-002 with 6.08m @ 1.66% Li2O from 73.12m downhole
- Drill hole SZ23-004 with 9.45m @ 1.22% Li2O from 111.85m downhole
- Drill hole SZ23-005 with 3.4m @ 1.19% LiO2 from 71.85m downhole
- Drill hole SZ23-010 with 6.45m @ 1.53% LiO2 from 208.05m downhole
- Assay results complement exceptional results previously released to market during the last nine months
- Assay data has been received from 20 separate drillholes (from 48 drill holes completed so far in 2023). All data is being included in the development of the Company’s JORC 2012 compliant, Maiden Mineral Resource Estimate
The latest assay results have been delivered from drilling completed over the period November 2022 to February 2023. With two drill rigs on site, the Company was able to continue testing mineralisation of the Main Zone, whilst simultaneously testing new targets in the Southern Zone. Key assay data can be seen in Tables 1 and 2, full exploration results can be seen in Appendix 1.
Lithium mineralisation extended within the Main Zone
Thick spodumene-bearing pegmatites continue to be intersected at the Main Zone with assay results highlighting significant intercepts of high-grade lithium mineralisation. Assay data is being incorporated into the current resource modelling that will underpin the release of a Maiden Mineral Resources Estimate (MRE) for Mavis Lake. Key results from the Main Zone can be seen in Table 1.
Table 1 – Significant Assay Results from MF22-168 to MF23-190
Assays confirm consistent lithium mineralisation at the newly discovered South Zone
Assay data also confirms consistent lithium mineralisation throughout mapped Pegmatites 11, 12 and 20, a newly discovered southern zone. This is an excellent result for the Company from the first round of drill testing on these southern targets.
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This article includes content from Critical Resources Limited, 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.
