Critical Minerals (ASX:CRR) extends drilling program at Mavis Lake, Ontario

The Market Herald
25 Aug 2022
  • Critical Minerals (CRR) extends its major drilling program at its Mavis Lake lithium project in Ontario to a third phase
  • The company says it has fast-tracked the approvals process to expand its exploration work, with third-phase drilling to focus on extending mineralisation at Mavis Lake to the east
  • According to Critical, the decision follows ongoing “outstanding” results from its first and second phases, under which it has so far completed just under 9500 metres of drilling
  • What’s more, Chairman Robert Martin says the company is so confident in the project it has already begun early-stage planning and permitting for a phase four program
  • Shares in Critical Resources last traded at 4.7 cents per share

Junior explorer Critical Minerals (CRR) has extended its major drilling program at its Mavis Lake lithium project in Ontario to a third phase.

The company this morning said following ongoing “outstanding” results from its first and second phases of drilling across the area, it had fast-tracked the approvals process to begin step-out drilling to extend the mineralisation at Mavis Lake to the east.

Moreover, Critical Chairman Robert Martin said the company had such strong confidence in the Mavis Lake project that it had already begun early-stage planning and permitting for a phase four drilling program.

“Having recently been on the ground at Mavis Lake and seeing the results that our in-country geologist, geological consultants and drilling crews are achieving, it was a very easy decision to increase the current program,” Mr Martin said.

“Having consistently intercepted spodumene-bearing pegmatites and increasing strike length in a previously untested area is an excellent outcome, we believe our phase three program will continue this trend.”

The company said it had completed just under 9500 metres of drilling in the Mavis Lake area to date, primarily focussing on infill drilling.

The phase three program will shift focus to extending the mineralisation, with drill holes spaced 100 metres apart to test strike length and dip continuity and further delineate the spodumene-bearing pegmatites at Mavis Lake.

Critical said all drilling in the area would contribute to a maiden mineral resource estimate for the project.

The company said the phase three program could confirm a strike length of up to three kilometres at the project.

Shares in Critical Resources last traded at 4.7 cents per share.

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