Critical Resources Ltd (ASX:CRR) has staked 4,500 hectares of highly prospective lithium claims, now known as the Plaid Project and Whiteloon Lake Project, in the emerging, Electric Avenue region of northwest Ontario, Canada.
The continued growth of the company’s landholding in prospective lithium regions, is key in a longer-term strategy to develop a lithium hub within Ontario.
Mapping conducted in 1993 displays evidence of pegmatite outcrops within the recently acquired claims.
The claims are within 5.5 kilometres of Frontier Lithium (TSX-V:FL, OTCQX:LITOF)’s projects. Its Pak project is one of North America’s highest-grade, high-tonnage hard rock lithium reserves.
Further, the underexplored claims complement the company’s existing Ontario located projects - Mavis Lake and Graphic Lake.
Building a lithium hub in Ontario
Critical Resources managing director Alex Biggs said: “Securing these claims is part of the company’s aggressive approach to lithium exploration in Ontario.
“The Electric Avenue region is a highly prospective area hosting large and high-grade hard rock lithium projects, so to be able to acquire land in this area is a very exciting development for the company.
“Once again, we demonstrate our strategy to consolidate our landholding and move towards building a lithium hub in Ontario, providing excellent exploration opportunities.”
Project overview
The Plaid and Whiteloon Lake projects are 165 kilometres north of Red Lake, Ontario, Canada, in the highly prospective Electric Avenue region.
Pak project is one of North America's highest-grade, high-tonnage hard rock lithium resources, with
➢ Measured and indicated resource of 10.49 million tonnes averaging 1.78% lithium oxide; and
➢ Inferred resource of 18.48 million tonnes averaging 1.45% lithium oxide.
Work program
The following work program has been determined as a Stage 1 approach with a view to identifying appropriate drill targets:
➢ Surface mapping and sampling of outcrops will assist in identifying drill targets in conjunction with the planned airborne survey data. Further surface mapping may identify new pegmatites not previously documented;
➢ An airborne survey is to be completed as soon as possible to help identify targets for a drill program;
➢ Channel sampling is to be conducted on areas of interest previously identified by outcrop mapping and sampling. This sampling may require the stripping of outcrops, as a precaution; and
➢ Based on these activities, it is expected a preliminary drill program will be designed to target areas of interest. Enquiries regarding permitting and approvals are underway with a view to begin exploration activities as soon as possible.
Exploration drilling and resource delineation
Critical Resources plans to complete a diamond drilling program once drill targets are defined across both projects’ tenements.
The strategy is to develop synergies with its 100%-owned Mavis Lake and Graphic Lake projects.
Lithium industry in Ontario
Tesla recently announced the opening of a battery gear manufacturing plant in Markham, Ontario, demonstrating the significant opportunity for Ontario to become one of the world’s leading lithium provinces.
The facility will be the first branded Tesla Canada manufacturing facility in Canada.
A significant amount of activity in the lithium exploration sector is occurring in Ontario.
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, it is an excellent time to be gaining a foothold in Ontario.