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Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), is pleased to advise that another five step-out holes have intersected intervals of spodumene-bearing pegmatite. This marks the completion of the inaugural 5,000m Drilling Program at the Company’s 100% owned Mavis Lake Lithium Project (‘the Project”) in Ontario, Canada. At completion, 35 of a total 37 holes drilled had intersected spodumene-bearing pegmatites within the Pegmatite 6 zone.
Highlights1,2,3
Hole 37
- 14.75m of ~16% fine to large spodumene laths from 152.25 to 167m within pegmatite
Hole 36
- 9.65m of ~23% fine to large spodumene laths from 131.6 to 141.25m within pegmatite
Hole 33
- 2.75m of ~5% fine to large spodumene laths from 16.45 to 19.2m within pegmatite
Hole 34
- 3.5m of ~5% fine to large spodumene laths from 64.5 to 68m within pegmatite
Hole 35
- 5.8m of <5% fine to large spodumene laths from 115.8 to 121.6m within pegmatite
- Inaugural 5,000m drill program completed
- 35 out of 37 drill holes intersected spodumene-bearing pegmatite mineralisation
- Approvals have now been received which allows the Company to double its drilling campaign, for an additional 5,000m (10,000m in total)
Figure 1: Significant white-grey medium to large spodumene laths within MF22-95 (Hole 36)
Critical Resources Managing Director Alex Biggs said: “Having 35 out of 37 holes intersecting spodumene bearing mineralisation is a fantastic result and proves the significance of the Mavis Lake Pegmatite field. Importantly the Company has now received the necessary approvals to extend drilling by an additional 5,000m. The Company remains focussed on its goal of defining a JORC resource at Mavis Lake, and looks forward to providing an update with regard to Phase 2 drilling at the Project, including assay results as soon as possible”.
Hole MF22-96 (Hole 37)
Significant spodumene-bearing pegmatite intersected at depth
MF22-96 intersected thick spodumene-bearing pegmatite located at depth. These thicker intervals continue to be intersected at depth and will continue to be tested with more drilling during the infill program. Spodumene laths range from fine to large and are typically white-grey.
Figure 2: White pegmatite hosts approximately 16% of fine to large, white-grey, spodumene laths intersected from 152.25 to 167m depth in Hole MF22-96 (Hole 37). Close-ups illustrate presence of significant spodumene
Hole MF22-95 (Hole 36)
Intersection of a thick interval of visually high amount of spodumene-bearing pegmatite
MF22-95 intersected spodumene-bearing pegmatite with significant internal sub-metre to metre scale zonations. Spodumene laths range from fine to large and are typically white-grey. This thick interval was intersected at depth and will continue to be tested in further drilling.
Figure 3: White pegmatite hosts approximately 23% of fine to large, white-grey, spodumene laths intersected from 131.6 to 141.25m depth in Hole MF22-95 (Hole 36). Close-ups illustrate presence of significant spodumene
Hole MF22-92 (Hole 33), MF22-93 Hole 34), and MF22-94 (Hole 35)
Infill drilling continues the continuity of spodumene-bearing pegmatites
The three step out holes were designed to perform infill drilling for the purposes of a resource model. These holes all likely intersected the pinch area of the pegmatites boudinage structure. These pinch out areas are typically more susceptible to sericite alteration of the spodumene minerals. Only up to 5% visual spodumene laths were intersected within the zones and hosted significant sericite. The presences of spodumene within these holes continue to prove Pegmatite 6’s continuity and mineralisation as drilling continues to the west.
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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
AM Resources Identifies 26 New Pegmatites for a Total of 187 Pegmatites on its 1,500 km² Land Package in Austria
First Group
The Company has identified 8 large pegmatites with lengths varying between 329 metres and 887 metres, with the most extensive pegmatite measuring an impressive 281 metres in width.
Second Group
An additional 18 pegmatites ranging from 102 metres to 560 metres in length were discovered, with the thickest pegmatite reaching 195 metres in width. This group's diversity in size and shape adds to the prospectivity of AM Resources’ holdings. Many of these pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals.
David Grondin, CEO of AM Resources commented: “Since the acquisition, we've been compiling the data available to us in preparation for our upcoming exploration program scheduled for June. We are very pleased with the number and size of the pegmatites found so far. Once we finish compiling the data, we'll have a better picture of the work that needs to be done to fully evaluate the lithium potential of our properties.”
Location, Location, Location
As previously reported, the AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise, and a clear, proven mining code. AM Resources’ Austrian properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system.
Qualified Person
Technical information related in this news release has been reviewed and verified by Jean Lafleur, P. Geo., of PJLEXPL Inc., a registered geologist with the Ordre des Géologues du Québec (OGQ #833) and is a qualified person (QP) as defined by NI 43-101. Mr. Lafleur is independent from the Company and has reviewed and approved the disclosure of the AM Resources geological information.
About AM Resources
AM Resources Corporation (TSXV: AMR) is a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits. With a strategic portfolio of assets and a commitment to responsible resource development, the Company is dedicated to creating long-term value for its stakeholders while adhering to the highest standards of corporate governance and sustainability.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. AM Resources does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
David Grondin
AM Resources Corporation
President and Chief Executive Officer
1-514-583-3490
Large New Lithium and Gold Anomalies Identified Over Highly - Prospective Cave Hill Greenstone Belts
- Highly-anomalous lithium and gold targets identified from soil sampling across the Company’s extensive 700 square kilometres (sq.km) Cave Hill Project tenements in WA’s world-class Eastern Goldfields gold, nickel and lithium province (see Figure 1).
- The largest new lithium anomaly, located in the southern part of E15/1844 (Figure 1), is over 5km x 5km and is associated with a northeast-trending fault corridor intersecting an extensive buried greenstone corridor identified from magnetic imagery (Figure 2). This is a similar setting to other high-grade lithium deposits in the region, including the Kangaroo Hills discovery which has produced lithium-spodumene intersections of up to 29m @ 1.36% Li2O1, and the Mt Marion Project which has a large Mineral Resource of 71.3Mt @ 1.37% Li2O2 (see Figure 1).
- Several highly-anomalous gold results also produced from this broad 400m x 400m sampling program, including values of up to 32ppb Au - more than 10 times background in this soil covered area (see Figure 3).
- This extensive and highly prospective >100km strike-length greenstone corridor remains virtually untested and is a continuation of the belt which hosts the Kangaroo Hills lithium discovery1, the 2.8Moz2 Coolgardie Goldfield and the Nepean Nickel Mine (1.1Mt at 3.0% Ni produced3) (Figure 1).
- Extensive infill and extension soil sampling is set to commence to better define targeting for an initial aircore drilling program, to be followed by RC and/or diamond drilling to test for lithium-bearing pegmatites in bedrock and/or greenstone-hosted gold deposits.
SABRE RESOURCES CEO JON DUGDALE COMMENTED:
“The large lithium and gold soil anomalies we have identified across our extensive Cave Hill tenements indicate that the large, untested, greenstone corridor discovered within the project is highly-prospective for lithium-bearing pegmatites, as well as gold deposits.
“The Company will immediately commence infill sampling, and new sampling programs on other recently granted tenements, to define aircore drilling targets for lithium and gold deposits in the underlying greenstone lithologies.
“The Company has over 100km of strike of granted tenements over this newly identified greenstone corridor. The corridor is along strike and parallel to other greenstone belts which host major lithium, gold and nickel deposits in the region, such as the Mt Marion lithium deposit, the 2.8Moz Coolgardie Goldfield and the Nepean nickel mine. The only difference appears to be that the Cave Hill greenstone corridor is under shallow cover, which is why it has remained largely un-explored.
“We look forward to further defining these highly-anomalous lithium and gold zones and testing the bedrock potential for new lithium, gold and nickel sulphide discoveries”.
Figure 1: Cave Hill Project tenements on aeromagnetics with new lithium anomalies and other lithium deposits
The results have been received from a further 876 auger soil samples collected on a 400m x 400m grid, mostly from the largest and most prospective tenement, E15/1844 (see Figure 1). An extensive greenstone belt has been identified from magnetics within this tenement and a series of northeast-trending faults are interpreted to intersect the soil-covered greenstone lithologies, which could host lithium-bearing pegmatites (see Figure 2 below).
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This article includes content from Sabre Resources Ltd, 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.