Critical Resources reports more thick and high-grade lithium assays from Mavis Lake

Lithium juniorCritical Resources CRRhas reported “exceptional” thick and high-grade results from ongoing exploration at the Mavis Lake project in Canada.

The company said assays from drilling arounda recent breakthrough holehave continued to validate and expand the newly-discovered Swell Zone at the project.

The breakthrough hole returned a best result of 74.4 metres at 1.18% lithium oxide including 32.95m at 1.81%.

It was the widest interval of spodumene mineralisation recorded to date at the project and is believed to have highlighted its significant upside potential.

Other best assays were 50.2m at 1.28% lithium oxide from 203.6m, including multiple metre-wide segments of extremely high-grade spodumene mineralisation from 2.11% to 4.18%; and 65.45m at 0.84% lithium oxide from 186.25m, including 55m at 0.95% from 194m including 25.85m at 1.30% from 214m.Greater level of confidence

Managing director Alex Cheeseman said testing of the Swell Zone east and west of the breakthrough hole had provided a greater level of confidence that the mineralisation at Mavis Lake extends over a 200m strike.

“These outstanding results provide further evidence that the Mavis Lake Swell Zone is a game-changing discovery for Critical,” he said.

“Continued wide, high-grade results make it clear that this is a project with significant potential and strategic importance.”

He said current drilling forms part of a resource extension drilling program which is seeking to establish Mavis Lake as the largest single-site lithium resource in Ontario.

The results are “rapidly adding tonnage” to the existing resource of 8 million tonnes grading 1.07% lithium oxide and place the company on track for a major upgrade in the new year.Project location

Mavis Lake is located in north-western Ontario near existing infrastructure including the Trans-Canada highway, a rail network, deepwater port and shipping lanes.

Lithium product generated from the project will be able to reach any number of downstream customers and will likely form part of a supply chain which supports the electric vehicle industries in North America and Europe.

Mr Cheeseman said Critical had completed more than 19,500m of drilling at Mavis Lake in 2022, delivering some of the highest assays reported by any ASX-listed hard-rock lithium company.