Critical Resources increases lithium holding around Graphic Lake Project in Ontario
The expanded land claim will allow the company to prospect in an underexplored and emerging lithium province.
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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The expanded land claim will allow the company to prospect in an underexplored and emerging lithium province.
“We feel a high level of confidence in the potential this asset provides for the company and our shareholders and we look forward to keeping the market informed as we move closer to drilling”, says MD
There is early-indication of potential lithium-caesium-tantalum (LCT) pegmatite system at the project. LCT pegmatites account for 25% of the world’s lithium production and the majority of tantalum caesium production.
Hole 11A is indicative of a potential large-scale, multi-element, base metals system at Halls Peak.
“To intersect massive base metal sulphides at depth again shows that the Halls Peak project is a highly mineralised system that warrants the time, effort and exploration activity currently taking place," says MD.
The company is progressing the Halls Peak Base Metal Project in NSW and has recently acquired the Mavis Lake Lithium Project in Canada.