Critical sampling confirms presence of high-grade lithium at Mavis Lake
Link copied to
Verification sampling carried out as part of Critical’s due diligence work have confirmed the prospectivity of the Mavis Lake project with assays of up to 3.06% lithium oxide.
The top results were returned from verification work on drill core samples taken from the Pegmatite 6 (Fairservice) prospect.
Additionally, assays of rock chip samples returned grades of up to 2.39% Li2O from Fairservice and 1.61% Li2O from the Pegmatite 18 prospect.
Critical Resources (ASX:CRR) had completed the acquisition of Mavis Lake earlier this month, tucking a project where previous drilling had returned hits such as 55.25m at 1.04% Li2O from 80.75m and 26.30m at 1.70% Li2O from 111.9m firmly under its belt.
Permitting is currently underway for an initial 5,000m diamond drill program aimed at defining a JORC resource as part of an aggressive exploration strategy targeting battery-grade lithium.
“Receipt of these assays is another confirmation of the potential we see in the Mavis Lake asset,” managing director Alex Biggs said.
“We are excited to begin our permitting and our inaugural drill program at Mavis Lake.
“We feel a high level of confidence in the potential this asset provides for the company and our shareholders and we look forward to keeping the market informed as we move closer to drilling.”
Mavis Lake is located 20km east of the town of Dryden, Ontario, in close proximity to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay and Winnipeg.
The region is a well-established lithium province with excellent infrastructure including access to hydropower just a few kilometres southwest of the project.
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.