Critical Resources hopes to continue its run of high-grade lithium results from last year with an exploration of 29 more diamond drill holes at its Mavis Lake prospect, part of the Company’s suite of lithium prospects across Canada’s world-class Ontario province.
Following almost 20,000 metres of drilling last year, the 2023 drill program is expected to cover even more ground, defining lithium mineralisation at the Mavis Lake Main Zone aided by a second drill rig.
“Our actions and efforts to invest in large-scale drilling, reflects our focus and commitment to advancing the Mavis Lake Lithium Project.
“We have extension drilling underway, drill-ready targets surrounding the Main Zone and assays from 29 drill holes pending from our 2022 program.
“We look forward to continuing to update the market as results become available, and are set for another very busy year.”
Future Works and Program
Following the completion of the flow through funding-based capital raise in Q4CY22, the Company is well capitalised to complete the planned (minimum) 20,000 meters of drilling at Mavis Lake.
The funding also allows for additional drilling (to be planned based on results delivered in H1CY23) and other forms of on/in-ground exploration work.
About Critical Resources
Critical Resources is advancing and developing critical metals projects for a decarbonised future. The Company holds a suite of lithium prospects across Ontario, Canada, including Mavis Lake, Graphic Lake, Plaid and Whiteloon Lake. The Company’s other projects include the Halls Peak Project in NSW, Australia, a high-quality base metals project with significant scale potential and the Block 4 and Block 5 copper projects, located in Oman.
The Company’s primary objective is the rapid development of its flagship Mavis Lake Lithium Project. Mavis Lake is an advanced exploration project with near-term development potential. The Company completed over 19,500m of drilling in 2022 and commenced another significant drilling program in 2023. The Company has also started initial studies that underpin the transition from explorer to developer.
