Critical Resources Ltd (ASX:CRR) has engaged SGS Canada to complete a mineral resource estimate (MRE) for its flagship Mavis Lake Lithium Project in Canada.
The drill bit is still spinning at Mavis Lake, but CRR believes now is the right time to put together the information to define the MRE.
If all goes to plan, Critical hopes to release the maiden estimate in Q1 next year.
Exploration will continue at the lithium property into the Canadian winter, providing additional information to support the upcoming resource.
Another drilling program for the 2023 season is also in the works.
“Well placed for future development”
Critical Resources managing director Alex Cheeseman said: “A maiden Mavis Lake mineral resource estimate is a critical milestone towards building an initial commercial model for our flagship project.
“We look forward to commencing work with the SGS team in the coming weeks and completing the resource estimation process.
“With the excellent success and high-grade results of the 2022 drilling program, we are confident that Mavis Lake is well-placed for future development. This is an exciting time in the lithium industry to be building a new hard rock lithium project.”