Critical Resources (ASX:CRR) uncovers exceptional Li20 at Mavis Lake
October 24, 2022Critical Resources Limited has potentially scratched the surface of Aladdin’s cave returning 18.45 metres at 2.06% Li20 at its 100% owned Mavis Lake Lithium Project in the populous Canadian province of Ontario.
Assays of diamond drill hole MF22-121 confirms 1.92% Li2O for 20.8 metres, from 45.25m, including the exceptional 2.06% Li2O from 46.0m and 1.5m @ 3.49% Li2O from 53.6m; 5.3m @ 2.06% Li2O from 98m.
Meanwhile MF22-123 confirmed 6.2m @ 2.15% Li2O from 50.9m, including 0.55m @ 4.0% Li2O from 52.3m, and 3.0m @ 2.92% Li2O from 52.85m.
The Company said the results illustrate the continuity of high-grade lithium mineralisation within the Main Zone of Mavis Lake.
“Discovering further high-grade intercepts with sections of extremely high-grade lithium mineralisation is very pleasing. In addition, these intercepts are relatively close to surface, with the main zone remaining open at depth, which we are yet to test,” Managing Director Alex Cheeseman said.
“With the excellent results of the last few months, Mineral Resource Estimate works underway, and drilling continuing at Mavis Lake, we are extremely pleased with how the project is progressing as we move from exploration into development.”
Price Action
The Company’s ASX-listed shares have risen 5.41 per cent to 7.8c in opening trade.
Next steps
Following the outstanding results, a further 2,500m drilling extension has been approved,taking the planned program to 17,500m.
A Mineral Resource Estimate is due Q1 2023.
Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
