Critical Resources has revealed a new stack of high-grade lithium intercepts and set the stage for a significant tonnage increase to the resource at its fully owned Mavis Lake project in Canada’s Ontario province.
Currently holding an 8.0Mt at 1.07% Li2O inferred resource, the company believes these latest intercepts show a clear pathway for resource growth, with the potential for Mavis Lake to become one of the largest single-site JORC resources in an Ontario province attracting a groundswell of exploration.
Key intercepts include:
- 10.65m @1.59% Li2O from 3m down-hole
- 13.3m @1.07% Li2O from 11.3m down-hole
- 6.25m @1.37% Li2O from 182.5m down-hole
- 19.1m @ 1.35% Li2O from 229.6m down-hole, within a broader intercept of 27.55m @ 0.99% Li2O from 222.25m down-hole
With high quality results coming from near surface and at depth, Critical Resources Managing Director Alex Cheeseman said they provide a clear picture of significant upside.
These assays were received after the cut-off for our maiden 8Mt Mineral Resource Estimate delivered in May – and they clearly set the scene for the next chapter of growth at Mavis Lake. They include a series of thick, shallow, high-grade intercepts which both in-fill key parts of Mavis Lake Main Zone while also highlighting the exciting growth potential laterally and at depth,” Mr Cheeseman said.
He added that as his company gears up for the next pivotal phase of drilling, these results have put it on the rails of a strong growth trajectory as it continues to unlock the full potential of Mavis Lake.
“We have outlined a three-pronged approach based on upgrading the category of the existing MRE, targeting immediate growth in the ‘near-mine’ environment and commencing exploration across the broader Mavis Lake Project Area, where we see clear potential for significant new discoveries,” Mr Cheeseman said.
“We see clear potential to deliver material resource growth at the Mavis Lake Project, offering the opportunity to build into the largest single-site JORC Code compliant Mineral Resource base for lithium in Ontario.”
Next steps
The strategy has been clear for Critical Resources since unfurling its maiden Mavis Lake resource – upgrades in category and tonnage while it continues to explore the fertile lithium territory, and the company’s immediate priority is to begin fill-in and extensional drilling.
And with an initial resource covering just two per cent of the project area, holding untapped prospects with sampling grades as high as 6.78 per cent lithium oxide and a main zone which appears to remain open at depth, the sky appears to be the limit for Mavis Lake Lithium.
