Critical plans to get aggressive with Mavis Lake after unlocking potential 3km long lithium belt
Critical Resources believes its high tenor pegmatite targets at the recently acquired Mavis Lake lithium project in Canada could link up, creating a 3km belt rich with lithium potential.
Data from an airborne geophysical survey flown shortly after Critical Resources (ASX:CRR) picked up the project last year has identified a number of targets along a 3km stretch between the Pegmatite 6 and Pegmatite 18 prospects at Mavis Lake.
The results support the prospectivity of the Mavis Lake project, 20km east of the town of Dryden in Ontario, where previous drilling results have including high grade hits such as:
While Pegmatites 6 and 18 present as the initial walk-up targets, the idea multiple targets and continuity could be like on the 3km east-west highway between the prospects is an exciting proposition.
It means the scale of Mavis Lake could be much more significant than previous explorers have uncovered.
“These results are a strong endorsement that the Mavis Lake property possesses what we interpret as the right geological setting to host significant pegmatite mineralisation,” CRR managing director Alex Biggs said.
“We are well aware of the existing mineralisation at both the Pegmatite 6 and Pegmatite 18 prospects, but our plan is to demonstrate potential continuity, increasing both scale and exploration potential.”
Despite the existence of lithium rich pegmatites to the east and west, CRR says this “continuity” has never been drill tested.
It presents an open canvas for Critical, which will further interpret the data and use surface mapping to rank new drill targets.
Previously only 25% of the project had been subject to magnetic surveys and there was no useful radiometric data when CRR took it on. CRR’s work will help build an entire of the mineralisation picture over the entire tenement package.
The radiometric data over known pegmatite occurrences will be assessed to see if a useful potassium radiometric signature is present to allow discrimination of pegmatite occurrences within the background mafic rocks.
If this is the case, more detailed ground radiometric surveys will be considered over prospective areas going forward that will allow for the identification of pegmatite occurrences.
Mavis Lake sits in the middle of a lithium and gold heartland in southern Ontario, located near established lithium projects like Separation Rapids and Seymour Lake and just a few kms south of the Red Lake gold mine.
The magnetic, radiometric and VLF electromagnetic data from the survey demonstrate the significant mineralisation footprint Critical has on its hands in Canada.
Ultimately the aim at Mavis Lake is for CRR to outline a JORC compliant resource.
It has core from previous drilling campaigns to assist, and will use the winter months to log samples that will help with understanding the orientation of the lithium bearing pegmatites at Mavis Lake and review the continuity of mineralisation to support a future JORC resource model.
Met testing will also take place to confirm a mineral processing pathway to deliver 6% spodumene concentrate – currently trading at almost US$3000/t as a boom in electric vehicle demand makes lithium a hot future-facing commodity.
Exploration strategies including density sampling, gravity survey, ground magnetic surveys, surface mapping, structural data interpretation, lithological mapping and geochemical sampling will continue to be used ahead of drilling by CRR.
A preliminary drill program of 5000m has been designed with permitting underway, with a secondary program to be based on drilling results and data interpretation.
Diamond drilling will initially be focused on the known Pegmatite 6 & 18 prospects with additional drilling to be deployed as new targets are identified across the tenements and at depth.
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.