Critical Resources Ltd (ASX:CRR) has staked an extra 700 hectares around its newly acquired Graphic Lake Project in Ontario, Canada.
The company hopes that the increased landholding will secure the necessary rights the company needs to capture any potential north-easterly or south-westerly extension of the pegmatite field.
These claims comprise a pegmatite swarm trending northeast and southwest with a width of 300 metres and an estimated strike of 5.5 kilometres. These pegmatites are observed to follow the foliation of the Royal Island group metasedimentary host rocks.
CCR hopes that it can encapsulate an observed trend to develop the full potential of this underexplored pegmatite area.
Strong position
“The approval of these claims further strengthens our landholding in Canada,” Critical Resources managing director Alex Biggs said.
“Claims have been chosen strategically to follow the northeast to southwest trend potential of the pegmatite field which will increase the opportunity to define drill targets across the Graphic Lake Project.”
“We are excited to further offer our shareholders quality opportunities in the lithium sector in Ontario and will update the market on further progress in due course.”
Strike potential
The newly claimed ground increases the company’s landholding along observed strike potential of pegmatite field at Graphic Lake, in an underexplored and emerging lithium province in Ontario, Canada.
Pending assay results are expected imminently from 13 samples taken from Graphic Lake, and the works to define priority drill targets continue.
Permitting works are proceeding and discussions are in train for the company to consolidate more claims in the Graphic Lake area.
About Graphic Lake
The Graphic Lake project is 55 kilometres southeast of Kenora, Ontario. It is dissected by the TransCanada Highway, providing key links to larger cities such as Thunder Bay, Ontario to the southwest and Winnipeg, Manitoba, to the west.
It is an emerging lithium province with multiple projects across the region.
The project is situated in the Sioux Lookout Domain of the Wabigoon Terrane in northwest Ontario.