Critical Resources Ltd (ASX:CRR) has encountered visual spodumene-bearing pegmatites in another four step-out drill holes at its 100%-owned Mavis Lake Lithium Project, in Ontario, Canada.
Observations include a 23.1-metre interval estimated at 32% spodumene in drill hole MF22-72 - the thickest and most mineralised zone within the widest interval of spodumene-bearing pegmatite (pegmatite 6) to date.
Due to the success of the inaugural 5,000-metre drill program, exploration work on 28 new targets has been initiated, including 11 high priority targets.
Accordingly, CRR has planning underway to extend Mavis Lake drilling to a 10,000-metre program.
“Widest intersection”
CRR managing director Alex Biggs said: “Hole 13 represents the widest intersection we have seen so far in our drill campaign.
“The fact that this intersection is at depth, further along strike and importantly a step-out hole is significant for the project and very exciting.
“The high-grade visual estimates are particularly intriguing and we’re seeing the fundamentals of Mavis Lake improving all the time.
“Working towards a JORC-compliant resource remains the key focus of the company.
“We look forward to updating the market on further results as we receive them.”
Shares have been as much as13.7% higher in early trading to A$0.083.
Drilling results
To date, MF22-72 is the thickest and most mineralised zone within Pegmatite 6 with 23.1 metres of spodumene-bearing pegmatite intersected.
The pegmatite hosts several metre-scale intervals of visually high, up to 60%, white silvery green, fine to medium spodumene laths, and hosts approximately 32% spodumene mineralisation throughout.
Core comprising almost entirely of spodumene laths. Visual estimates were as high as 60% in metre-scale intervals in Hole MF22-72 (Hole 13).
Drill hole MF22-71 demonstrates a significant visual estimate of spodumene within a larger interval of spodumene-bearing pegmatites.
In MF22-70, approximately 10% of fine to coarse spodumene laths were encountered from 84 to 87 metres downhole.
Furthermore, MF22-69 is a step-out infill hole that intersected 10% spodumene-bearing pegmatite from 101 to 105.85 metres downhole.
To date, 12 out of 13 holes have intersected spodumene-bearing pegmatite mineralisation at Mavis Lake.
Samples and core from completed drill holes have been sent for analysis and are expected in due course.
About Mavis Lake
CRR’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 a few kilometres southwest of the project.
Previous drill programs at Mavis Lake have yielded high-grade lithium 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.