Critical Resources Ltd (ASX:CRR) has consolidated all surrounding claims at its 100%-owned newly-acquired Graphic Lake Project in an emerging lithium province in Ontario, Canada.
The company had acquired an additional 500 hectares to consolidate the land package and provide tenure continuity, as well as ensure continuity along the observed potential SW/NE strike of the pegmatite field.
Graphic Lake is underexplored and pending assays from 13 rock chip samples are expected.
A work program to identify priority drill targets is underway and permitting works are proceeding.
Start exploration activities
Critical Resources managing director Alex Biggs said: “The consolidation of these claims finalises the company’s current acquisition strategy at Graphic Lake, reinforcing the company’s landholding in this emerging lithium province in Ontario, Canada.
“The acquisition of these tenements allows the potential extent of the pegmatite field to be fully explored and we look forward to being able to start exploration activities at the project as soon as possible.”
Consolidation
The Graphic Lake claim now encapsulates a total of 2,100 hectares.
By increasing the landholding, the company ensures that the necessary landholding rights are held by Critical Resources to capture any potential NE/SW trend of the pegmatite field.
This will allow the full potential of this underexplored pegmatite area may be assessed.
Graphic Lake project
The Graphic Lake Project is 55 kilometres southeast of Kenora, Ontario.
It is dissected by the Trans Canadian Highway, providing key links to larger cities such as Thunder Bay, Ontario to the southwest and Winnipeg, Manitoba, to the west.
This region is an emerging lithium province with multiple projects across the region.
The claim comprises a pegmatite swarm trending NE/SW with a width of 300 metres and estimated strike of 5.5 kilometres.
These pegmatites are observed to follow the foliation of the Royal Island group metasedimentary host rocks.