Critical Resources Ltd (ASX:CRR) says there’s more to explore at its Mavis Lake Lithium Project in Ontario, Canada, following a geophysical survey.
The campaign identified 28 new target areas — including 11 high-priority prospects — and Critical plans to conduct fieldwork in the area to inform its exploration strategy.
It’s likely the work will lead the ASX-lister to expand its current 5,000-metre drilling program, which encountered strong visible lithium pegmatites earlier this week.
All in all, Critical says the survey has broadened Mavis growth potential in a market that’s hungry for more lithium sources.
Building confidence in Mavis’ prospects
Commenting on the new targets, Critical Resources managing director Alex Biggs said: “In conjunction with the recent drilling success at Mavis Lake, confirming further growth potential is extremely encouraging.
“The interpretation of the geophysical data, in combination with visual results from the current program, are critical in the development of future drilling campaigns and gaining further confidence in Mavis Lake’s potential.”
Survey says
Critical flew its geophysical survey in late 2021 and has since completed a litho-structural interpretation on the magnetic, radiometric and VLF electromagnetic data.
The company’s interpretation was primarily concerned with identifying pegmatite bodies that are prospective for lithium mineralisation.
Based on the data at hand, Critical has pinpointed 28 targets for follow-up via surface mapping, geochemical surveys and reconnaissance drilling.
What’s to come?
While it plans for the next steps at Mavis Lake, Critical will continue to advance its 5,000-metre drilling program.
The campaign is roughly 20% of the way through, and just yesterday the company announced it had encountered visual spodumene in another four step-out drill holes.
The highest visual intersection, recorded in hole six, is estimated to contain 40% spodumene within a 3.6-metre pegmatite interval, while hole seven encountered a visual intersection measuring 6.9 metres with an estimated 20% spodumene-bearing pegmatite.
So far, eight of nine holes in Critical’s drill program have hit visual, spodumene-bearing pegmatites.
About Mavis Lake
Critical’s Mavis Lake Lithium Project is 19 kilometres east of the town of Dryden, Ontario.
The project is in close vicinity to the Trans-Canada highway and railway major transportation arteries, linking larger cities such as Thunder Bay, Ontario, to the southeast and Winnipeg, Manitoba, to the west.
The region boasts excellent infrastructure with hydro-power located a few kilometres southwest of the project.
Previous drill programs at Mavis Lake have yielded high-grade lithium oxide hits, including:
- 55.25 metres at 1.04% lithium oxide from 80.75 metres; and
- 26.30 metres at 1.70% from 111.9 metres, including 7.70 metres at 2.97% from 130.5 metres.