Metals

Critical Resources makes waves with further Mavis Lake Swell Zone growth

CBCIE Time:Oct 19, 2023 10:34 Source:smallcaps

Australian junior Critical Resources continues to make significant progress at the Mavis Lake lithium project in Ontario with drilling results continuing to expand the proposed Canadian battery metals development.

The latest strong assay results from ongoing drilling at Mavis Lake continue to validate Critical Resources’ theory on the geological upside of the highly prospective Swell Zone.

The latest drilling results have added to the company’s excitement built by the Swell Zone discovery intercept of 74.4m with a grade of 1.18% lithium oxide as the company continues to intersect thick and consistent zones of strongly mineralised pegmatite.

Further expanding Swell Zone

With intercepts of up to 36.75m at 1.12% lithium oxide, the new assays have further extended the Swell Zone up-dip to the east and confirmed that it trends towards surface.

Drill-holes MF23-217 and MF23-222 have also extended the mineralisation towards the west, increasing confidence that the Swell Zone trend remains open.

Managing director Alex Cheeseman says that while the company is awaiting pending permits to further test the western extent of the Swell Zone, the latest in-fill drilling has delivered significant promise with drill hole MF23-225 returning the highlight intersection of 36.75m at 1.12% lithium from 208m down-hole in a program designed to test the area up-dip.

He said tight in-fill drilling has also provided confidence for an increase in resource category as part of a future mineral resource estimate upgrade at Mavis Lake, scheduled for the first half of 2024.

Swell Zone definition

Mr Cheeseman said that notably, the discovery of the Swell Zone has delivered a substantial increase in mineralised width, over the initial projected mineral resource estimate ore shapes, highlighting the potential for recent drilling returns to substantially increase the maiden mineral resource estimate of 8.0 million tonnes at 1.07% lithium oxide.

“The discovery of the Swell Zone has been a game-changer for Mavis Lake this year. We are consistently hitting thick, well mineralised pegmatite, with every positive drill result adding tonnage to our next resource upgrade,” he said.

“The latest results have further extended the Swell Zone in both directions, with exciting growth potential still to be tested. With drilling continuing and assays outstanding for 15 diamond holes, the next few months should be an exciting time for Critical Resources shareholders as we build towards a resource update in the first half of 2024.”

Thick high-grade lithium

Critical Resources’ drilling to date has confirmed consistent, thick high-grade lithium mineralisation within the Swell Zone over a strike length of approximately 300m, sitting obliquely to and striking across the current mineral resource estimate.

Recent intercepts have also helped define the geometry and orientation of the Swell Zone mineralisation.

“Importantly, the Swell Zone remains open laterally to the west, with step-out drilling and testing of the western extents of the Swell Zone the focus of current drilling,” Mr Cheeseman said.

“Drilling that followed up the MF23-207 intercept has shown that these previous wider zones are in fact part of a continuous, thicker zone of mineralisation that runs through the Main Zone deposit.”

Multiple spodumene pegmatites to be tested

Critical Resources has identified multiple spodumene-bearing pegmatites that are yet to be drill tested.

Immediate drilling continues to test the western extent of the Swell Zone, with planning and permitting now underway to allow testing of additional high-quality drill targets centred on the Gullwing and Tot pegmatite clusters, located approximately 9km from the Mavis Lake Main Zone.

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