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Lithium project developer, Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to advise of multiple at/near-surface spodumene-bearing pegmatite intercepts at the Company’s 100%-owned Mavis Lake Lithium Project. Full exploration results can be seen in Appendix 1.
Highlights
- Targeted infill and extension drilling at the Mavis Lake Main Zone and South Zone has intercepted multiple spodumene-bearing pegmatites near-surface
- All intercepts align with pegmatite projections and modelling completed as part of the Mavis Lake Mineral Resource Estimate process, which is nearing completion
- Standout intercepts include:
- Drill Hole MF23-197 with 10.65m of spodumene mineralisation from 3m downhole;
- Drill Hole MF23-198 with 7.65m of spodumene mineralisation from 3.1m downhole;
- Drill Hole MF23-199 with 11.3m of spodumene mineralisation from 13.3m downhole;
- Drill Hole SZ23-027 with 10.6m of spodumene mineralisation from 33.5m downhole; and
- Drill Hole SZ23-028 with 9.7m of spodumene mineralisation from 50m downhole.
- JORC 2012 compliant Maiden Mineral Resources Estimate (MRE) process nearing completion and due for release in the coming weeks
- Due to timing the current drilling results will not be included in the Maiden MRE but will form part of any potential and or future resource upgrades
Critical Resources Managing Director, Alex Cheeseman said:
“Confirmation of near-surface intercepts is very pleasing for several reasons. Firstly near-surface mineralisation supports the mining component of our ongoing studies into development pathways for Mavis Lake.
Secondly the intercepts reinforce and validate modelling work completed as part of the MRE process. This further boosts our confidence with the MRE work completed over the last few months.
The release of the MRE is now imminent. This will be an important milestone for the team and our shareholders - the culmination of 15 months’ hard work since we acquired the project. We look forward to announcing the results and continuing to push ahead with Mavis Lake.”
Spodumene Mineral Percentage Estimates1
The intercepts have occurred at both the central Main Zone and South Zone areas of Mavis Lake. It is assessed that the near-surface intercepts will correlate well with mine pit development works currently being completed in support of the Mavis Lake Scoping Study.
Estimates of spodumene mineralisation can be seen below in table 1 with select core photos below in figure 1-3.
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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.
