Critical Resources (CRR) has extended lithium mineralisation at its Mavis Lake project in Ontario, Canada, by roughly 550 metres.
The company received assay results from 30 drill holes, with multiple intercepts grading over 1.2 per cent lithium oxide. Critical also reported “extremely” high grades of up to 4.2 per cent lithium oxide.
Stand-out assays include 7.1 metres at 1.23 per cent lithium oxide from 13.35 metres and 7.6 metres at 1.3 per cent lithium oxide from 135 metres.
The results have effectively extended the current lithium strike length at Mavis Lake to 1300 metres in total.
Managing Director Alex Cheeseman said he was “very pleased” with another round of “excellent” results after actively drilling at Mavis Lake for almost a year.
“In less than two months, the strike length of known lithium mineralisation at Mavis Lake’s main zone has increased significantly and remains open; our drilling strategy is delivering results that will directly support our maiden resource,” Mr Cheeseman said.
Critical Resources is waiting on assays from 26 holes and is continuing to drill at Mavis Lake. The company will use all drill results from Mavis Lake to complete a maiden mineral resource estimate.
Company shares were up 6.38 per cent to trade at 5 cents at midday AEDT.
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