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Lithium from Canada: A window of opportunity just opened for Critical Resources
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An underexplored and emerging lithium province in Ontario, Canada has been further staked by Critical Resources after it snapped up 700 hectares around the newly acquired Graphic Lake project.
These new claims follow the northeast to southwest trend potential of the pegmatite field, opening the opportunity for additional drill targets to be defined.
Discussions are in progress to continue consolidating surrounding claims as Critical Resources (ASX:CRR) awaits assay results from thirteen samples taken at the project.
CRR managing director Alex Biggs says not only do the claims strengthen the company’s landholding, but they have been chosen strategically along the observed strike potential of the pegmatite field.
Swarming with pegmatites
“We are excited to further offer our shareholders quality opportunities in the lithium sector in Ontario,” he said.
Graphic Lake is 55km southeast of Kenora, Ontario and is dissected by the Trans-Canadian Highway, providing key links to larger cities such as Thunder Bay and Winnipeg to the west.
CRR says the claims include a pegmatite swarm trending northeast-southwest with a width of 300m and estimated strike of 5.5km, which follow the foliation of the Royal Island group metasedimentary host rocks.
What’s next?
The final acquisition of the Graphic Lake project including the 700 hectares of claims staked are subject to Canadian Investment Review Board Approval (CIRB), and the company will keep the market updated in due course.
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.
