Critical Resources (ASX:CRR) expands Mavis Lake Lithium Project with strategic land consolidation

Critical Resources Limited (ASX:CRR) has consolidated its position at the Mavis Lake Lithium Project in Ontario, Canada, through the acquisition of adjacent claims that add more than 6,000 hectares to the project area.

This district-scale landholding enhances exploration potential along a proven geological corridor while drilling continues to demonstrate consistent lithium mineralisation beyond the existing resource.

With strong infrastructure access and ongoing exploration programs, Mavis Lake is positioned as one of Ontario’s most strategically important lithium development opportunities.

In this Q&A, Chief Executive Officer Tim Wither addresses key questions on the project’s consolidation, exploration results, forward strategy, infrastructure advantages, and government funding application.

What does the consolidation of adjacent claims mean for the Mavis Lake Lithium Project?

The acquisition expands the Mavis Lake Project by approximately 6,300 hectares, strengthening our landholding across a highly prospective geological trend.

The new properties host multiple pegmatite occurrences confirmed through LIBS testing to show high levels of fractionation, a key indicator of spodumene-bearing systems.

“The consolidation of these lithium-rich claims marks another important step in the strengthening of our land position in the Ontario region. The identification of highly fractionated pegmatites supports the strong potential for further resource growth.”

This expansion creates a pipeline of new drill-ready targets at relatively low cost, giving Critical Resources a district-scale growth opportunity while reinforcing Mavis Lake as one of Ontario’s most strategically located lithium projects.

How do recent drilling results support the growth potential of Mavis Lake?

Since 2022, Critical Resources has completed more than 58,000 metres of drilling, which has consistently demonstrated that spodumene-bearing pegmatites extend beyond the current resource of 8 million tonnes at 1.07% Li₂O. Significant intercepts include 74.4 metres at 1.18% Li₂O with 32.9 metres at 1.81% Li₂O, 50.2 metres at 1.28% Li₂O, and 41.3 metres at 1.25% Li₂O. These results highlight both continuity and strength of mineralisation.

In addition, drilling at the Tot Pegmatite has covered over 7,000 metres and confirmed a substantial spodumene system outside the existing resource model, further emphasising the project’s growth potential.

“We are starting to see encouraging signals from small supply imbalances within the lithium markets. Lithium demand growth remains robust, and in less mature markets, even small supply-demand imbalances can trigger rapid price movements.”

What are the next steps in advancing the Mavis Lake Project?

Exploration will continue with drilling designed to expand the Main Zone and advance high-priority prospects such as Gullwing and Tot.

Both are fully permitted and contain mapped spodumene mineralisation at surface, offering immediate opportunities to build on the resource base.

“These additional claims expand our pipeline of drill ready targets, enhancing the Exploration Target announced in May 2024, which gives shareholders an understanding of the potential upside at the Mavis Lake Lithium Project.”

Parallel workstreams are also underway, including metallurgical studies, environmental baseline surveys, and permitting activities.

The company continues proactive engagement with local communities and First Nations to ensure that exploration and development progress in line with regulatory frameworks and environmental, social, and governance standards.

What role does infrastructure play in the value of the project?

Infrastructure is a key advantage of Mavis Lake and the project is located in Northwestern Ontario with direct access to highways, rail, and power utilities.

This reduces capital intensity and operational risk, making future development more cost-effective compared with projects in remote regions.

“For Shareholders, the Mavis Lake Project stands as one of Ontario’s significant lithium assets, with scale potential, grade, and access to world-class transport and power utility infrastructure, setting Mavis Lake to play a key role in North America’s lithium supply chain.”

Efficient transport links also provide a clear pathway for any future production to reach the North American market, which is increasingly focused on securing domestic lithium supply.

Can you explain the potential benefits of the Ontario Junior Exploration Program (OJEP) funding application?

Critical Resources has applied for the maximum available funding of C$200,000 under the Ontario Junior Exploration Program.

If successful, these funds will directly support exploration across high-priority targets within the expanded landholding.

This program is designed to promote exploration in Ontario and would allow the company to continue systematic work while reducing costs to shareholders.

It aligns with our strategy of advancing Mavis Lake responsibly and efficiently by using all available avenues of support.

Outlook for shareholders

The consolidation of Mavis Lake, combined with ongoing drilling success and strong infrastructure access, underscores the project’s potential as a cornerstone lithium asset for North America.

With a growing resource base, an expanded landholding, and multiple exploration and development workstreams underway, Critical Resources is systematically building value.

For shareholders, this means continued progress toward unlocking Mavis Lake’s role in the North American lithium supply chain, where demand remains robust and opportunities for growth are significant.

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