Critical Resources (ASX:CRR) cements pathway for Mavis Lake
March 27, 2023Critical Resources’ latest drilling has the potential to significantly boost the lithium grade average with a bunch of high-grade intercepts at its South Zone discovery at Mavis Lake.
The Main Zone results in conciliate grades averaging 1.2 per cent lithium oxide across target areas, led by the latest assay up to 4.12% Li2O with just over half the results pending.
$0.004Critical Resources Managing Director Alex Cheeseman said that in less than a year, it had drilled almost 30 thousand metres, delivered exceptional lithium intercepts and confirmed high-grade mineralisation while extending the known strike of the central zone.
“Mavis Lake’s stand-out proximity to local services and infrastructure, which are essential for the
future development and operation of a lithium mine, provide exceptional value and benefit to the
project,” he said.“This fact and the exploration success we continue to have, all affirms our belief that we’re
developing the right project in the right place at the right time. The Mavis Lake Lithium Project is
perfectly aligned to support the demand being driven by North America’s rapidly expanding electric vehicle market.”“Our ongoing drilling program and technical studies form part of a clearly-defined pathway towards
the development of Mavis Lake and unlocking value for shareholders.”
New Main Zone intercepts
- 16.3m @1.44% Li2O from 258.5m downhole;
including 10m @ 2.05% Li2O from 260.85m downhole - 17.8m @1.41% Li2O from 166.7m downhole;
including 9.5m @1.86% Li2O from 172.4m downhole - 14.7m @ 1.17% Li2O from 216.9m downhole;
including 8.7m @1.87% Li2O from 221.7m downhole
South Zone intercepts
- 6.08m @ 1.66% Li2O from 73.12m downhole
- 9.45m @ 1.22% Li2O from 111.85m downhole
- 3.4m @ 1.19% LiO2 from 71.85m downhole
- 6.45m @ 1.53% LiO2 from 208.05m downhole
Next steps
The company will test multiple mapped pegmatites in the area as it continues work on both a scoping study and the release of the JORC 2012 maiden estimate for Mavis Lake.
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