Critical stakes out more ground to boost Mavis Lake exploration
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Critical has demonstrated its confidence in the recently acquired Mavis Lake lithium project by staking out a further 2,700 hectares of ground around its existing tenure.
The company has good reason to acquire the additional ground, which takes its total landholding at Mavis Lake up to about 6,500 hectares, as the airborne geophysical survey flown last year had identified a number of targets along a 3km stretch between the Pegmatite 6 and Pegmatite 18 prospects.
Historical drilling at the project – located 20km east of the town of Dryden in Ontario – had also returned high-grade hits such as 55.25m grading 1.04% lithium oxide from 80.75m, and 26.3m at 1.7% Li2O from 111.9m, including 7.7m at 2.97% Li2O from 130.5m.
Critical Resources (ASX:CRR) adds that Mavis Lake has strong synergies with its 1,600 hectare Graphic Lake lithium project, which is also located in Ontario.
“Increasing our landholding around Mavis Lake is part of our strategy, allowing us to conduct additional exploration works, test any continuities in geology and importantly providing the ability to expand our exploration thesis in a highly prospective and emerging lithium region,” managing director Alex Biggs said.
“We are excited to begin work at Mavis Lake. An aggressive work program has been planned towards meeting the milestone targets.”
The company expects exploration activities such as surface mapping to identify areas that require further detailed exploration.
This approach is also expected to assist in improving its understanding of region’s prospectivity.
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.