Critical Resources (ASX:CRR) - Managing Director, Alex Biggs
Managing Director, Alex Biggs
Source: Critical Resources
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  • Critical Resources (CRR) encounters thick spodumene-bearing pegmatites in four more holes at its Mavis Lake project in Ontario, Canada
  • One drill hole is estimated to contain 40 per cent spodumene over 6.2 metres which is reportedly the highest potential lithium mineralisation observed to date
  • Positively, eight of the nine holes completed so far have intercepted spodumene-bearing pegmatites
  • Critical Resources says its inaugural, 5000-metre program is 20 per cent complete and results will be used to deliver a mineral resource estimate for Mavis Lake
  • Company shares are in the grey at 7.5 cents each

Critical Resources (CRR) has encountered thick spodumene-bearing pegmatites at its Mavis Lake project in Ontario, Canada.

The visual spodumene was found in another four step-out holes drilled at the lithium project as part of a 5000-metre maiden drilling program.

A standout intersection came from MF22-65, the sixth hole, which is estimated to contain up to 40 per cent of fine to medium, cream-coloured spodumene crystals. The spodumene is hosted in two pegmatites from 126.4 to 128 metres and 129 to 132.6 metres.

“The 40 per cent visual spodumene mineralisation within pegmatite six is the highest representation of observed lithium mineralisation to date. We are noticing that pegmatite widths and spodumene mineralisation appear to both increase at depth within pegmatite six,” Managing Director Alex Biggs said.

Hole seven also returned a significant spodumene intersection, according to the company, with an estimated 20 per cent spodumene-bearing pegmatite over 6.9 metres from 99.6 to 106.5 metres.

Hole seven also showed up-dip continuity of the mineralisation seen in the fifth hole.

The company observed ‘lesser’ spodumene mineralisation in the eighth hole with roughly 5 per cent spodumene seen over a 3.77-metre interval.

Hole nine intersected semi-massive holmquistite at a 74-metre depth. Holmquistite is an lithium-amphibole occurring along the margins of pegmatites with the host rock.

Critical believes the holmquistite suggests there’s lithium metasomatism within the host rock and potentially the drillhole being near to another lithium mineralised pegmatite.

Overall, eight of the nine holes completed so far have intercepted spodumene-bearing pegmatites.

The 49-hole drilling effort is roughly 20 per cent complete and results will be included in a mineral resource estimate for Mavis Lake.

Company shares were in the grey at 7.5 cents each at 10:20 am AEST.

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