Critical Resources (ASX:CRR) - Managing Director, Alex Biggs
Managing Director, Alex Biggs
Source: Critical Resources
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  • Critical Resources (CRR) encounters visual spodumene in four drill holes at its Mavis Lake lithium project in Canada
  • Hole five intersected an 18.1 metre zone of 20 per cent spodumene-bearing pegmatite which is the largest visual spodumene intersection encountered in the program so far
  • This hole also confirms lithium mineralisation is open within pegmatite 6 which will continue to be tested
  • Each pegmatite interval has been sampled and will be sent to the lab for further analysis
  • CRR shares are up 5.26 per cent at 10 cents on the market this morning

Critical Resources (CRR) has encountered visual spodumene in four of its first five holes at its Mavis Lake lithium project in Ontario, Canada.

Step-out hole MF22-64 (hole five) intersected 18.1 metres of 20 per cent spodumene-bearing white to grey pegmatite from 159.1 metres to 177.2 metres.

Interestingly, this is the largest visual spodumene intersection the company has encountered so far in the 5000-metre drilling program.

Hole five also confirmed lithium mineralisation is open at depth and along strike within pegmatite six, which will continue to be tested throughout the current drilling program.

“An 18.1-metre intersection with a high mineral content of 20 per cent represents a significant milestone in what are still the early stages of our inaugural drill program,” Managing Director Alex Biggs said.

Hole four, designed to to twin and test the validity of a 1956 drill hole, also encountered a 5.3-metre zone of spodumene-bearing pegmatite from 65 metres to 70.3 metres. The pegmatite is estimated to contain 10 to 15 per cent of medium to large spodumene crystals.

Further, hole two returned a 4.2-metre interval of spodumene hosted in pegmatite from 105.75 to 109.95 metres. The pegmatite is estimated to contain about 20 per cent of medium to large spodumene crystals.

Hole three intersected multiple thin pegmatites which show evidence of sericite replacing spodumene mineralisation.

Each pegmatite interval has been sampled and will be sent to the lab for further analysis.

“The story of Mavis Lake is beginning to unfold and we see this drill campaign as a potentially transformational catalyst for both the project and the company,” Mr Biggs said.

CRR shares were up 5.26 per cent and trading at 10 cents at 10:54 am AEST.

CRR by the numbers
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