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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Critical has unearthed more spodumene in 20 of 21 drill holes in this latest round of drilling at the Mavis Lake Lithium Project. The company is moving to expand this maiden drilling program to 10,000 metres given its success so far.
“Hole 14 represents the detection of a new area of mineralisation that has not previously been explored at our Gibsons prospect," says MD Alex Biggs.
“Drilling is ongoing across multiple targets as we look to start to further define the potential scale at Halls Peak," says MD. “The asset is shaping up as potentially transformational for the company and we look forward to updating the mar
Core from five more step-out holes is being assayed at the ALS laboratory in Brisbane, with results expected progressively.
"We are increasingly excited with what the rest of the drill program will uncover, and we look forward to updating our shareholders as this drill program continues,” says MD Alex Biggs.
“It is a fantastic opportunity for me to return to the Mavis Lake Lithium Project, especially after the continued success we have seen in our first drill program,” Critical Resources managing director Alex Biggs said.
“The high-grade visual estimates are particularly intriguing and we’re seeing the fundamentals of Mavis Lake improving all the time,” says MD.
The additional 1000 metres of drilling is designed to test the extent of mineralisation discovered through the current drill campaign extensionally and at depth.
Based on the data at hand, Critical has pinpointed 28 targets for follow-up via surface mapping, geochemical surveys and reconnaissance drilling.
So far, eight of nine holes in Critical’s Mavis Lake drill program have hit visual spodumene-bearing pegmatites.
“The story of Mavis Lake is beginning to unfold, and we see this drill campaign as a potentially transformational catalyst for both the project and the company,” says MD.
“We feel that Mavis Lake has the potential to be a transformational asset for the company and we are committed in our goal of defining a JORC-compliant resource," says MD Alex Biggs.
“The company has accelerated its drilling and exploration strategy at Mavis Lake with a view to defining a JORC compliant resource in the future. Further planning is underway for the next stage of exploration at Mavis Lake with multiple tar
“The Sunnyside prospect is approximately 1.5km from the Gibsons prospect so represents a clear expansion of the resource potential that exists at Halls Peak,” says MD.
Due to the quality of lithium assets in the region, the fundamental drivers behind the lithium market and the intent of North American manufacturers to source lithium for battery manufacturing from localised supply-chains, Critical believes
As a senior advisor to a number of major corporations in the exploration and mining industries, Bogunovic has considerable experience in providing expert audit advice to large entities.
“With strong previous results, we are excited to unlock the potential that Mavis Lake may host. We believe that our asset base in Canada and our exploration strategy in-country will position the company as a key player in Ontario’s lithium
The presence of base metal sulphides to a depth of 360 metres extends the down hole depth of the known system and indicates potential for the discovery of further massive sulphide lodes.
“Troy is a professional geoscientist who provides local expertise and has worked across a range of commodities within the Canadian Archean greenstone belts," says MD Alex Briggs.
“It is a fantastic opportunity for us to finally be able to visit the Mavis Lake project and our key stakeholders and partners,” MD Alex Biggs said. “With our upcoming drill program at Mavis Lake it is important for the company to be on the
