Critical Resources Ltd (ASX:CRR) has secured approvals for a 5,000-metre diamond drilling program at the Mavis Lake Lithium Project in Ontario, Canada.
The first stage of the program will consist of 49 holes, designed to follow up previously reported results that indicated the presence of lithium pegmatites:
- 55.25 metres at 1.04% Li2O (lithium oxide) from 80.75 metres; and
- 26.30 metres at 1.70% Li2O from 111.9 metres, including 7.70 metres at 2.97% Li2O from 130.5 metres.
The program is due to begin in mid-April – with preparation and mobilisation of drill rigs underway – and will be overseen by local drilling company, Cyr Drilling.
First stage of exploration strategy
“It is very pleasing to be able to announce the start of our drilling campaign at Mavis Lake. This approval signifies the beginning of the company’s exploration strategy within Ontario, a key critical minerals jurisdiction,” managing director Alex Briggs said.
“With strong previous results, we are excited to unlock the potential that Mavis Lake may host. We believe that our asset base in Canada and our exploration strategy in-country will position the company as a key player in Ontario’s lithium sector.”
Critical believes Mavis Lake’s previous exploration results indicate “excellent” potential for resource definition and expansion and has already begun to plan further drill programs and exploration activities.
The company is keen to develop the project, as the Ontario lithium industry is undergoing notable advancement.
Several lithium refineries and battery manufacturing facilities are expected to be constructed near the Mavis Lake Project, offering a particularly attractive offtake potential.
About Critical Resources
Critical Resources is an emerging base metals and lithium exploration company based in Perth, Western Australia, with assets in New South Wales, Australia, Ontario, Canada, and the Sultanate of Oman.
The Halls Peak asset in NSW represents multiple base metal exploration targets with historic mining of high-grade zinc, copper, and silver.
The company has also recently acquired the Mavis Lake lithium asset in Ontario, Canada, which represents high exploration potential with historic results including 26.3 metres at 1.7% Li2O.
The Sohar Copper Project in Oman holds a JORC resource of 819,000 tonnes at 3.4% copper for 28,000 tonnes copper metal, with high-grade Volcanogenic Massive Sulphide (VMS) style deposits and a large exploration area of 1,000 kilometres square within a well-established mining region.