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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.
Click here for the full ASX Release
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.
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