Critical Resources (ASX:CRR) produces potential at Mavis Lake
January 23, 2023Critical Resources have delivered acquiescent initial lithium head grades of up to 1.6% Li2O at its Mavis Lake Project, part of the Company’s suite of lithium prospects across Canada’s emerging Ontario province.
Samples assayed for head-grade lithium content ranged from 1.2% Li2O (representative) to 1.6% Li2O (high-grade) composites during metallurgical testwork for processing capability beginning in October last year.
Critically, the grades represent samples collected from spatially organised areas across the Mavis Lake Main Zone.
“Critical Resources has firmly taken a step forward with its development plans for Mavis Lake. The outcomes of the metallurgical test work will directly support a scoping study and significantly assist us with planning our pathway to production,” Managing Director Alex Cheeseman said.
“Whilst the full results from the test work will not be known until the program is completed, initial indications are that the Mavis Lake spodumene is amenable to beneficiation via DMS processing.
“With a major drill campaign underway, our knowledge of the mineralisation and the characteristics of the Mavis Lake Main Zone continue to grow – setting the foundations for the next phase in this exciting project.”
Price Action
The Company’s ASX-listed shares are 4.3c at Market Open.
Next Steps
The current test work program will continue through mid-February, with final results expected to be available to the Company towards the end of Q1 CY23.
The test work program is a crucial step towards initial scoping study work for the Mavis Lake Project; the Company will provide further updates on the subsequent development phase in the coming weeks.
About Critical Resources
Critical Resources is advancing and developing critical metals projects for a decarbonised future. The Company holds a suite of lithium prospects across Ontario, Canada, including Mavis Lake, Graphic Lake, Plaid and Whiteloon Lake. The Company’s other projects include the Halls Peak Project in NSW, Australia, a high-quality base metals project with significant scale potential and the Block 4 and Block 5 copper projects in Oman.
The Company’s primary objective is the rapid development of its flagship Mavis Lake Lithium Project. Mavis Lake is an advanced exploration project with near-term development potential. The Company completed over 19,500m of drilling in 2022 and commenced another significant drilling program in 2023. The Company has also started initial studies that underpin the transition from explorer to developer.
Fundamental Data
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