Critical Resources Ltd (ASX:CRR) continues to enhance the lithium potential of the Mavis Lake Project in Ontario, Canada, with multiple thick intercepts of spodumene-bearing pegmatite returned from the current drill program.
Thick intercepts of spodumene-bearing pegmatite have been observed down-dip of the Main Zone while the results point to a potential new area of mineralisation stacked under the Mavis Lake Main Zone.
Drill hole MF22-180 returned more than 35 metres of spodumene-bearing pegmatite from 197 metres downhole, hole MF22-179 intercepted more than 23 metres from 157 metres downhole and hole MF22-177 hit more than 30 metres from 175 metres downhole.
“Very productive year”
Managing director Alex Cheeseman said: “This is an extremely satisfying way to finish what has been a very productive year at Mavis Lake.
"Less than a fortnight after announcing a major extension to the Main Zone’s strike length, we’re pleased to announce multiple, significant intercepts with a standout of 35 metres of spodumene-bearing pegmatite from drill hole MF22-180.
"Furthermore, the potential of a new zone is incredibly exciting and as such we are planning to drill test the continuity of this stacked zone as a priority in the new year.”
Upcoming maiden resource estimate
More than 19,739 drill metres have been completed by Critical Resources in 2022 with assays pending for core from 29 drill holes.
All of the latest intersections will be included in the JORC 2012 maiden mineral resource estimate, which is being prepared.
The company believes that the new stacked zone may link to previous intercepts at depth extending over a 500-metre strike.
In relation to the disclosure of visual mineralisation, the company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis.
Vertical cross-section of 524250E looking west with stacked pegmatite projection.
Future work
At the recommencement of drilling in January, efforts will be focused on continued extension of the Main Zone while testing the continuity of the potential stacked zone.
The Mavis Lake Lithium Project continues to illustrate its growing potential through continued down dip extension and the identification of a possible stacked zone.
The stacked zone has not been tested and could be a parallel structure of the main zone, that remains open along strike and depth.
Testing the stacked zone for continuity and extending the known main zone will be a priority effort when drilling recommences in early January 2023.
Set for strong start to 2023
"Given the abundance of quality drilling targets, additional tenements under acquisition and the strengthening of our financial position following the recent execution of a flow-through funding arrangement, we are in a very strong position to capitalise on our hard work in 2022 with a strong start to 2023,” Cheeseman said.
"We are also looking forward to testing the potential of this new system, releasing further assay results and to working on the additional tenements under acquisition, all which will be positive for the Mavis Lake Project as a whole.”