Critical Resources Ltd (ASX:CRR) has extended the strike of known lithium mineralisation some 550 metres based on 30 new drill hole assays generated at the Mavis Lake Lithium Project in Ontario, Canada, bringing total strike length to 1.3 kilometres.
The latest set of assays continue to demonstrate consistently high grades of lithium at Mavis Lake, with several intersections grading in excess of 1.2% lithium and up to 4.2%.
Standout results include:
- 7.1 metres at 1.23% lithium from 13.35 metres;
- 7.6 metres at 1.30% lithium from 135 metres;
- 7.7 metres at 1.23% lithium from 183.82 metres; and,
- 10.85 metres at 0.85% lithium from 12.55 metres, including 0.3 metres at 4.2% lithium.
Critical Resources intends to incorporate all of the results generated so far at Mavis Lake into a JORC-compliant maiden mineral resource estimate, although assays for 26 holes are still pending.
Targeting NA electric vehicle market
“The company has been actively drilling and developing the Mavis Lake project for almost a year and we are very pleased with another round of excellent results,” Critical Resources managing director Alex Cheeseman said.
“In less than two months, the strike length of known lithium mineralisation at Mavis Lake’s main zone has increased significantly and remains open, our drilling strategy is delivering results that will directly support our maiden resource.
“Latest drilling results include multiple high-grade intercepts, as well as an extremely high-grade section of up to 4.2% Li20.
“The extension of the mineralised zone supports our broader development plans at Mavis Lake.
"The opportunity to develop a lithium project with class-leading logistics and existing, immediately accessible infrastructure that provides a direct path to market, will enable Critical Resources to deliver into the Canadian and American electric vehicle supply chain during a period of unprecedented investment and growth.”
The company has completed 18,500 metres of drilling in 2022 and intends to continue into the Canadian winter with a fully funded drilling program.