Critical Resources highlights massive lithium growth potential at Mavis Lake with 28 new targets
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An airborne survey flown over the company’s Mavis Lake Lithium Project in Ontario, Canada has identified the potential of a further 28 new drill targets across the property.
These targets have been identified from litho-structural interpretation and include 11 high-priority targets.
Critical Resources says exploration works on these new targets will be undertaken to develop a drilling strategy to expand on the current 5,000m program.
As it stands, the current drilling program is around 20% complete – of which the first eight of nine holes have intersected visual spodumene with spodumene estimates up to 40%.
Critical Resources (ASX:CRR) managing director Alex Biggs said in conjunction with the recent drilling success at Mavis Lake, confirming further growth potential is extremely encouraging.
“The interpretation of the geophysical data in combination with visual results from the current program are critical in the development of future drilling campaigns and gaining further confidence in Mavis Lake’s potential,” he added.
Litho-structural interpretation at a scale of 1:10,000 over the Mavis Lake project area was completed using flown magnetic/radiometric/VLF and DEM survey, with the help of other supportive data and information from previous exploration.
Due to significant forest soil cover over the project area, the structural interpretation was based primarily on the aero magnetics and to some extent also on VLF data.
Radiometric, DEM, and satellite data have been studied and analysed, however, these make a minor contribution to the interpretation.
CRR is planning an aggressive approach to exploration at Mavis Lake with a view to delineating a JORC compliant mineral resource estimate.
Planned activities include continuing the inaugural 5,000m drilling program, carrying out surface mapping and sampling out cropping pegmatites (which will assist in identifying targets in collaboration with airborne survey data), core logging, and metallurgical testing.
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.