Critical Resources

First Mavis Lake Assays Include 7.66m at 1.5% Li2O

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”) is pleased to announce assay results from drill hole MF22-64 (Hole 5) from its 100% owned Mavis Lake Lithium Project in Ontario, Canada. Hole 5 contained medium to large, cream coloured spodumene laths correlating with higher-grading lithium oxide assays, including 7.66m at 1.5% Li2O. Additionally, 24 of 25 drill holes have intersected spodumene-bearing pegmatite including four additional holes which include 14.7m of pegmatite with spodumene mineralisation from 146 to 160.70m downhole.


Highlights

MF22-64 (Hole 5) Assay Results2

  • 18.1m @ 0.98% Li2O from 159.1 to 177.2m downhole, including:
    • 15.53m @ 1.1% Li2O from 161 to 176.53m downhole
    • 7.66m @ 1.5% Li2O from 161 to 168.66m downhole
    • 5.66m @ 1.68% Li2O from 161 to 166.66m downhole
  • Several intervals of spodumene zonation contain higher grades up to 2.03% Li2O
  • 24 out of 25 drill holes have intersected spodumene-bearing pegmatite mineralisation, the four most recent drillholes have intersected spodumene-bearing pegmatite within Pegmatite 6 including:

Hole 22

  • 14.7m of white-grey, fine to large spodumene laths from 146 to 160.70m 1,2,3

Hole 23

  • 13.2m of white-grey, fine to large spodumene laths from 163 to 176.2m 1,2,3

Hole 24

  • 6.7m of white-grey, fine to large spodumene laths from 122.05 to 128.75m 1, 2,3

Hole 25

  • 5.35m of white-grey, fine to large spodumene laths from 115.05 to 120.4m1,2,3
  • Samples and core from completed drill holes have been sent for analysis
  • Planning and permitting has commenced to extend the current drill program

The Company is pleased to announce first assays from its 100% Mavis Lake Lithium Project in Ontario Canada. Assay data for Hole MF22-64 (Hole 5) has confirmed lithium mineralisation, correlating with initial visual results identified immediately post-drilling (ASX announcement 04 May 2022). Assays have proven the presence of lithium mineralisation across an 18.1m intercept with an average grade of 0.98% Li2O from 159.1 to 177.2m downhole and up to 7.66m of 1.5% Li2O from 161 to 168.66m downhole.

Further intersections of spodumene mineralisation have also been encountered in Holes 22 – 25 including 14.7m in Hole 22 from 146 to 160.70m downhole.

The Company’s inaugural 5,000m drill program is approximately 50% completed and planning is underway for an extension to approximately 10,000m.

Critical Resources Managing Director Alex Biggs said:

“Our first assays from Mavis Lake are very promising indicating a wide, high grade zone of Li20. With significant grades within the 18.1m zone we are excited that this is a good starting point in defining the potential that Mavis Lake has to offer. Our drilling is continuing with all but one hole intersecting spodumene bearing pegmatite mineralisation. Additionally, we are very pleased to see continued significant intersections of spodumene in our most recent drill holes. We look forward to updating the market in due course with further results”.

MF22-64 (Hole 5) Assay Results

Elevated Lithium throughout Pegmatite 6 interval

MF-22-64 was designed to test lithium grade continuity and width at depth within Pegmatite 6. The hole intersected a 10.4m true width spodumene-bearing pegmatite and confirms significant lithium mineralisation at a downhole depth of 159.1m. Pegmatite 6 remains open at depth, down dip from this intersection. The higher grading Li2O values correlate well with local metre-scale zonations of increased spodumene mineralisation as shown in Table 1.


Figure 1: White pegmatite hosts fine to medium, white-grey, spodumene crystals intersected from 159.1 to 177.2m depth in Hole MF22-64 (Hole 05). Close-ups illustrate significant spodumene mineralisation.

Table 1: Assay results from Hole MF22-64 (Hole 5)

Table 2: Drill Hole Summary

Figure 2: Cross-section, looking west, of Pegmatite 6 (pink shape) with previous drill hole traces (grey) and recently drilled holes of MF22-64, MF22-66, and MF22-67 (note: measurement in meters). Lithium Oxide (% of Li2O) is represented as disks

Click here for the full ASX Release

This article includes content from Critical Resources (ASX:CRR), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.




CRR:AU
The Conversation (0)
White Cliff Minerals

Digitisation of Historical Datasets Reveal Multiple High- Grade Uranium & Copper Targets at Radium Point

White Cliff Minerals Limited (White Cliff or the Company) is pleased to announce early results from the digitisation and GIS integration of historic, but high quality analogue datasets for the northern half of the Radium Point Project (“the North”). The North, as the name implies, refers to the northern half of the approximately 2,9002 km Uranium (U), Gold (Au), Silver (Ag), Copper (Cu) licence area held by the Company. Results have exceeded expectations and highlight multiple large & high-grade U-Cu-Au & Ag targets, all of which will be assessed during the upcoming 2024 field work.

Keep reading...Show less
Premier1 Lithium

Montague Field Program Identifies Abundant New Pegmatite Outcrops

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce the commencement of fieldwork at the Montague lithium project. Premier1 has the rights to earn up to 80% of the lithium rights on the project in a farm-in announced on 5 May 2023 with Gateway Mining (ASX:GML).

Keep reading...Show less
Further Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa

Further Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa

69m at 1.25% Li2O from 45m returned at Dog-Leg target, outside of current MRE1

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further broad and high-grade assay results from resource drilling completed at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.

Keep reading...Show less
Lancaster Resources (CSE:LCR)

Lancaster Resources Announces Shareholder Meeting Results

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) ("Lancaster" or the "Company") is pleased to announce the results of its annual general and special meeting held on March 15, 2024 (the "Meeting"). At the Meeting, the shareholders of the Company (the "Shareholders") approved the plan of arrangement previously announced on January 30, 2024, pursuant to which the Company will spin off the majority of its ownership in Nelson Lake Copper Corp. by issuing a stock dividend of Nelson Lake common shares to Lancaster shareholders.

30,037,612 votes, or approximately 99.999% of the votes cast at the Meeting, were cast in favour of the special resolution approving the Arrangement. The special resolution approving the Arrangement was required to be passed by at least two-thirds (66 2/3%) of the votes cast by Shareholders. Details of the voting results will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Keep reading...Show less
Jindalee Lithium CEO Ian Rodger

Jindalee Lithium Eyes Mid-year PFS Completion, CEO Says

Lithium exploration and development company Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) expects to complete its prefeasibility study on the McDermitt lithium project in Oregon by the middle of 2024, according to CEO Ian Rodger.

“We’ve completed a lot of the metallurgical testwork, we’re at the back end of that, as well as the engineering and cost estimates (and) the mine planning work. Ultimately we've got a very big resource,” he said.

Rodger said the PFS will focus on the first five to 10 years of the mine life to maximise margin and economic returns.

Keep reading...Show less

Latest Press Releases

Related News

×