Critical Resources Ltd (ASX:CRR) has completed its inaugural 5,000-metre drill program at Mavis Lake Lithium Project in Canada, intersecting spodumene-bearing pegmatites in 35 of the 37 drill holes.
The last round of assays saw further spodumene-bearing pegmatites intersected in five step-out holes with notable results including:
- 14.75 metres of 16% fine to large spodumene laths from 152.25 metres within pegmatite;
- 9.65 metres of 23% fine to large spodumene laths from 131.6 metres within pegmatite; and
- 2.75 metres of 5% fine to large spodumene laths from 16.45 metres within pegmatite.
Moving forward, approvals are now in place for CRR to double its drilling campaign for an additional 5,000 metres at Mavis Lake.
“Fantastic result”
CRR managing director Alex Biggs said: “Having 35 out of 37 holes intersecting spodumene-bearing mineralisation is a fantastic result and proves the significance of the Mavis Lake pegmatite field.
“Importantly, the company has now received the necessary approvals to extend drilling by an additional 5,000 metres.
“The company remains focused on its goal of defining a JORC resource at Mavis Lake and looks forward to providing an update with regard to Phase 2 drilling at the project, including assay results, as soon as possible.”
Next steps
The inaugural 5,000 metres drill program successfully intersected significant spodumene-bearing pegmatite in the Mavis Lake South Zone area which has expanded the continuity of mineralisation and increased the strike length and depth of Pegmatite 6.
With approvals now received for an additional 5,000 metres of drilling, the company is undergoing strategic analysis in consultation with SRK for the proposed phase two drilling campaign.