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Colin Hay

Critical Resources (ASX:CRR) has discovered multiple additional spodumene-bearing pegmatites at the company’s 100%-owned Mavis Lake Lithium Project in Ontario, Canada.

The discoveries, made just weeks into the company’s 2024 Summer Field Exploration Campaign, highlight the outstanding potential of the Mavis Lake Project to yield further significant lithium discoveries.

Detailed Field Work Delivers Outstanding Initial Results

A field work programme comprising prospecting, mapping and sampling began in early May, designed to identify new spodumene-bearing pegmatites, determine fractionation trends at the Northern Prospects and conduct drill pad reconnaissance throughout the Mavis Lake Lithium Project.

A total of 83 samples were collected from pegmatite outcrops across the broader Project Area. A total of 31 new pegmatite discoveries have been made. The discoveries include a ~250m extension of a known spodumene-bearing pegmatite (Pegmatite 20) and 100m extension of the Main Zone spodumene-bearing pegmatite cluster (Pegmatites 7 and 24). Samples have been prepared and will be dispatched to an independent analytical laboratory in the coming weeks, with full results expected in July/August 2024.

“It’s great to see field teams directly following up our Exploration Target and making further significant discoveries at Mavis Lake at the start of the new field season,” Managing Director, Alex Cheeseman, said.

“The field programme has already increased our confidence in our ability to deliver on the recently published Exploration Target, paving the way for drill testing a number of high-quality targets. We look forward to continuing our dual-track strategy of targeting resource growth while progressing our project development and permitting workstreams for Mavis Lake.”

Mr Cheeseman said the pending assays will inform and support priorities for future drill testing.

The company’s current assessment is that the Tot pegmatite presents as the highest priority for immediate follow-up exploration effort. This is due to the high-grade and consistent nature of the mineralisation found throughout the outcrop.

Extensional drilling to the east and south of the Main Zone as well as drill testing of the Gullwing Pegmatite remain as secondary priorities to occur within the company’s CY2024 drilling programme.

The company has approved drill permits to allow all potential target areas to be tested as well as stripping and channel sampling permits for immediate testing of the Tot Pegmatite.

It expects a stripping and channel sampling program at Tot to commence in early July 2024.

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