Critical Resources (ASX:CRR) strike exceptionally thick spodumene

The very first hole of Critical Resources’ summer program at Mavis Lake has returned a spectacular intercept, coming in with 74.4 continuous metres of spodumene-bearing pegmatite in Canada’s Ontario province.

The diamond intercept sits outside the current Mavis Lake resource and with an estimated 20 per cent spodumene, is expected to deliver a meaningful increase in the resource tonnage to the fully owned project.

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Critical Resources Managing Director Alex Cheeseman said the company’s extensional and in-fill drilling had been carefully planned to upgrade and expand its maiden resource – but this was something else.

“The size of this intercept has well and truly taken Mavis Lake to a new level. The intercept, along with other recently released exploration results are not currently included in our 8.0Mt Resource. Targeted drilling will continue over the coming months and we are truly excited as to the resource potential of this world class asset,” Mr Cheeseman said.

“We are also working concurrently to test our Gullwing and Tot Lake pegmatites, where we have 8km of pegmatite clusters to test which can potentially add additional resources,” he added.

While the lithium grade of the intercept is yet to be determined, Critical Resources say that mineralisation appears similar to the previous high-grade intercepts which had already set the stage for significant growth for its current 8.0Mt at 1.07% Li2O inferred resource – one that the company envision becoming the largest single-site JORC Code compliant Mineral Resource base for lithium in a firing Ontario province.

Next steps

Critical Resources will get more drilling next to the star hole underway imminently as it looks to gain an understanding for the large swell area in the main zone before testing for resource expansion in multiple directions, including over high priority pegmatites which have never yet been touched with the drill.

The much-anticipated assays are now due in six to eight weeks as Critical Resources continue drilling away on its summer program in sunny Canada.

The CRR team at Mavis Lake

CRITICAL FPO [CRR]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

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Critical Resources Limited engages in the exploration and development of mineral projects in Australia and Canada. The company explores for lithium, zinc, lead, copper, silver, and gold deposits. The company's flagship project is the Mavis Lake Lithium Project located in Ontario, Canada. Critical Resources Limited was formerly known as Force Commodities Limited and changed its name to Critical Resources Limited in May 2021. The company was incorporated in 2010 and is based in Perth, Australia.