Critical Resources Discovers Exceptional Lithium Intercepts at Mavis Lake Project, Signalling Substantial Resource Increase
Australian critical metals company, Critical Resources Limited, reports significant drilling results from its Mavis Lake Lithium Project in Canada
Critical Resources Limited (ASX: CRR), an Australian company focused on developing critical metals projects for a decarbonised future, has announced remarkable drilling results from its Mavis Lake Lithium Project in Ontario, Canada. The results reveal a spectacular intercept of 74. 4 meters of continuous spodumene-bearing pegmatite, marking the widest interval of spodumene mineralization recorded at Mavis Lake to date.
Record-Breaking Intercepts
The first drill hole completed as part of the summer 2023 resource extension drilling program at Mavis Lake has encountered an astonishing 74. 4-meter interval of spodumene-bearing pegmatite. The intercept, which boasts an average estimate of 20% spodumene, represents a significant breakthrough for Critical Resources. Notably, this mineralization extends beyond the existing mineral resource envelope, indicating the potential for a substantial increase in the overall resource tonnage at Mavis Lake.
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Enormous Upside Potential
The spectacular intercept underscores the significant upside potential of the Mavis Lake Lithium Project. The presence of multiple large, strike extensive, lithium-bearing pegmatites further confirms the project's rich mineralization. With the new drilling results, Critical Resources validates its exploration strategy and fortifies its position as a key player in the critical metals sector.
Future Plans for Resource Upgrade
Critical Resources has outlined its strategy to continue extension drilling at Mavis Lake in the coming months, with the aim of supporting a future resource upgrade. By focusing on resource expansion, the company aims to unlock the full potential of this high-grade lithium project. Additionally, the company plans to conduct drill tests on the highly prospective Gullwing and Tot Lakes pegmatites. These contiguous tenements offer a significant opportunity to explore an 8 kilometre stretch of pegmatite clusters with immense potential for critical metals discovery.
Disclaimer: This article provides a summary of the original Critical Resources announcement and is not a substitute for the full text of the announcement.
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