- Critical Resources (CRR) identifies 28 targets at its Mavis Lake project in Canada
- These targets were generated from a geophysical survey completed towards the end of 2021 and 11 targets have been ranked as high priority
- Critical Resources plans to follow-up on the targets with mapping, survey work and drilling to better understand the underlying geology
- A 5000-metre drilling program is underway at Mavis Lake and the company plans to expand it to include the new targets
- CRR shares have been trading down a slight 1.35 per cent at 7.5 cents
Critical Resources (CRR) has confirmed further potential for growth at its Mavis Lake project in Ontario, Canada.
In late 2021, the company completed an airborne geophysical survey across Mavis Lake to collect magnetic, radiometric and very low frequency electromagnetic data which would then be used to generate drill targets.
Now, Critical Resources has received a ‘highly positive’ litho-structural interpretation from the survey work and 28 target areas have been outlined for follow up.
The targets have been ranked in order of priority with 11 considered to be high priority targets.
Critical plans to explore the targets through mapping, geochemical surveys and reconnaissance drilling to better understand the underlying geology.
Managing Director Alex Biggs said along with recent drilling success at Mavis Lake, he believes it’s “extremely encouraging” to confirm further growth potential.
“The interpretation of the geophysical data in combination with visual results from the current program are critical in the development of future drilling campaigns and gaining further confidence in Mavis Lake’s potential,” Mr Biggs said.
Critical is undertaking a 5000-metre drilling program at the Mavis Lake project. The program is about 20 per cent complete and eight of the nine completed holes have intersected visual spodumene with estimated spodumene of up to 40 per cent.
The company plans to expand this drilling effort to include the geophysical targets.
CRR shares were down a slight 1.35 per cent and trading at 7.5 cents at 11:32 am AEST.