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Lithium development company, Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to announce 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
- Latest assays confirm regular intercepts grading over 1.2% Li2O, with multiple intercepts delivering very high-grade results ranging from 3.2% Li2O to 4.3% Li2O
- Standout results include:
- Drill hole MF22-163 with:
- 7.3m@1.59% Li2O from 114.2m downhole;
- 10.45m@1.22% Li2O from 95.35m downhole; and
- 9.2m@1.07% Li2O from 83.7m downhole.
- Drill hole MF22-156 with 8.06m @1.2% Li2O with sections grading up to 3.28% Li2O from 94.36m downhole
- Drill hole MF22-163 with:
- All results to be incorporated into Mavis Lake’s JORC 2012 compliant Maiden Mineral Resource Estimate
- Drilling continues at Mavis Lake, extending the known mineralisation area of the Main Zone and testing additional spodumene-bearing outcrops located adjacent to the Main Zone
Critical Resources Managing Director Alex Cheeseman said:
“These consistent assay results build upon the emerging picture of mineralization at Mavis Lake. They reinforce our confidence and commitment to the project.
These latest results follow recent metallurgical test work, where raw material from Mavis Lake was converted to a high-grade, low impurity concentrate.
Our coordinated program of activities at Mavis Lake continues to gather pace. We remain squarely focused on unlocking the development potential of Mavis Lake.”
Drilling extends mineralisation along strike and at depth
The latest assay results have been delivered from drilling completed over the period October to November 2022. At the time the Company was focused on extending the known mineralisation area of the Main Zone, the results reinforce earlier announcements of high-grade mineralisation throughout the Main Zone. Significant assay results can be seen in Table 1, full exploration results can be seen in Appendix 1.
Table 1 – Significant Assay Results from MF22-152 to MF22-167
Comprehensive drilling program to underpin the Mineral Resource Estimate
Throughout 2022, the Company implemented a systematic and robust approach to drilling the Mavis Lake project. Over 19,500m of core drilling was completed during the course of the year. Assay results are pending from the December drilling program (as well as drilling completed so far in 2023). Figure 1 in Appendix 1 presents a long-section view of the Mavis Lake Main Zone and provides a visual representation of projected mineralised pegmatite.
Future Work
The Company continues drilling at Mavis Lake, metallurgical test work is ongoing and the Company has also commenced baseline technical and environmental studies and assessments to support the preparation of a Scoping Study for the Mavis Lake Project.
The Company is awaiting assays from samples collected from over 39 individual drill holes and will update the market as details are made available.
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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.
