Critical is back on the hunt for zinc-lead giants at Halls Peak
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Critical has recommenced drilling for a large-scale zinc-lead deposit at the Gibsons prospect within its Halls Peak project in New South Wales.
The company has already had some intriguing results from the planned 2,500m program with visual massive sulphide and disseminated sulphide noted in four of the five holes totalling about 650m drilled to date.
Critical Resources (ASX:CRR) noted in late December the results were an “exciting proof of concept” for its goal of discovering SEDEX (sedimentary exhalative deposits) style projects at the prospect.
SEDEX projects such as Red Dog (Alaska), McArthur River (Northern Territory), and Mount Isa (Queensland) account for 25% of global zinc and lead production.
“We are pleased to recommence drilling at Halls Peak. The drill campaign has so far provided excellent results and we continue to gain an increased understanding of the deposit,” managing director Alex Biggs said.
“We look forward to completing the outstanding drill holes and updating the market with further results in due course.”
The company is expected to drill a further nine holes at Gibsons before moving on to drill a further three holes totalling 1,700m at the Sunnyside prospect.
Halls Peak hosts multiple historical mines and prospects such as Gibsons, Sunnyside, Firefly, Faints, Khans Creek, Keys and Mickey Mouse though Critical’s current activities are focused on the first two prospects in exploration licence EL 4474.
The company has also strengthened its board with the appointment of Alex Cheeseman as its new non-executive director.
Cheeseman has more than 20 years’ experience in leadership and management roles across a range of industries with the last 10 focused on project development, commercial optimisation and marketing across iron ore and lithium commodities.
Importantly for Critical, he has extensive lithium experience due to his close involvement with project delivery, commissioning and ramp-up to commercial production of the former Altura Pilgangoora operations.
He also has an active, global lithium supply chain network, encompassing lithium raw material developers, downstream converters/refiners, electric vehicle supply chain participants, analysts and market commentators.
“It is a pleasure to have someone the calibre of Alex join the company’s Board of Directors,” chairman Rober Martin noted.
“Alex has a proven track record in the resources industry with a robust understanding of global lithium markets and associated downstream participants.”
This article was developed in collaboration with Critical Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.