Critical Resources taps SGS Canada for maiden Mavis Lake lithium resource
“We look forward to commencing work with the SGS team in the coming weeks and completing the resource estimation process,” said managing director Alex Cheeseman.
Company
ASX:CRR
Critical Resources Limited is a diversified lithium-gold-antimony explorer and developer with assets in Canada, Australia and New Zealand. The company's flagship Mavis Lake Lithium Project in Ontario, Canada, anchors its battery metals focus, complemented by the Halls Peak gold-antimony-base metals projects in New South Wales, Australia, and its gold–antimony projects centred in the Otago region, New Zealand. These diversified portfolio positions Critical Resources to create value through the critical minerals supply chain, with exposure to the rising gold market.
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“We look forward to commencing work with the SGS team in the coming weeks and completing the resource estimation process,” said managing director Alex Cheeseman.
“We believe the last few rounds of assay results have been some of the highest grades released by an ASX-listed lithium company so far in 2022, this sets us up well to continue advancing the project and transition Critical Resources into a
Alex Cheeseman was hired for his considerable lithium industry experience, proven leadership skills and clear vision and plan to take the company from explorer through to producer.
Assays have confirmed thick, high-grade intercepts with sections of exceptionally high-grade lithium oxide up to 4.32%.
“We look forward to the phase three drilling program confirming our view that the mineralised zones are continuing to the east, towards an area that has known and mapped pegmatites, providing a potential strike length up to 3 kilometres lon
“The company continues its drilling program, and is planning a phase three program and identifying future areas for potential permitting,” said chairman Robert Martin.
“These results show the pegmatites remain open at depth and along a potential strike length of approximately 3 kilometres between our Pegmatite 6 and Pegmatite 18 prospects," said chairman Robert Martin.
The results build further confidence in the company’s exploration program as it continues its pursuit of a maiden JORC-compliant resource.
The project covers 1,006 square kilometres of the copper-rich Ophiolite belt, proven to host clusters of relatively high-grade VHMS copper deposits.
“To intercept 40-plus metres of lithium-bearing pegmatites in one hole 80 metres east of any known occurrences in a previously untested area at Mavis Lake is extremely encouraging," chairman Robert Martin said.
“Further intersections at Gibsons of high-grade base and precious metal mineralisation continue to demonstrate the potential of the Halls Peak Project,” said chairman Robert Martin.
“We’re pleased to welcome Harry to our team as we transition towards our next phase of strategic growth," chairman Robert Martin said.
“Visual inspections to date indicate that these strong assay results are likely to continue and will help us to ultimately define our maiden JORC-compliant resource," Critical Resources chair Robert Martin said.
The company’s drilling program at the project in Ontario, Canada, has yielded high-grade lithium both in assays and visuals.
“Mavis Lake is quickly becoming a cornerstone project for the company as demonstrated by the consistent drill results we have seen in the first 5,000-metre campaign,“ said MD Alex Biggs.
“Having 35 out of 37 holes intersecting spodumene-bearing mineralisation is a fantastic result and proves the significance of the Mavis Lake Pegmatite field,” said managing director Alex Biggs.
“For 30 out of our first 32 holes to intersect spodumene-bearing mineralisation is a significant achievement," said MD Alex Biggs.
“Our first assays from Mavis Lake are very promising indicating a wide, high-grade zone of Li2O,” says MD Alex Biggs.
"Delineating high grades at depth demonstrates the previously unknown potential of Halls Peak as a whole. We are consistently uncovering new mineralisation in multiple directions but are seeing a trend north-westerly from Gibsons," says MD
“Graphic Lake is a great opportunity to potentially discover significant lithium-bearing mineralisation which will be hugely complementary to our Mavis Lake project,” says MD.