Critical hits multiple pegmatites in Canadian lithium blitz
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Murray Region
Critical Resources has unlocked a previously underexplored area of its flagship Mavis Lake lithium project in Ontario, Canada, identifying a swarm of 14 individual pegmatite bodies, including six new discoveries, during a recently completed field program.
The 10-day program at the Corona mine, located 4 km north of the existing 8 million tonne resource with a lithium oxide grade of 1.07 per cent, included systematic exploration, geological mapping and structural data collection.
The work involved mapping 161 outcrops, collecting 106 rock samples for analysis, and recording 74 structural measurements.
Management said the program confirmed the existence of a larger pegmatite system than previously recognized along the northern Mavis Lake corridor and that the target area is located within the interpreted spodumene-beryl-tantalite zoning corridor.
‘What we are building at Lake Mavis is not just a resource, it is the upstream underpinning of a fully integrated lithium strategy.’
Tim Wither, general manager of Critical Resources
Results, expected within four weeks, are expected to advance the company’s strategy to transform Mavis Lake from a single-deposit asset to a multi-deposit lithium district.
Tim Wither, managing director of Critical Resources, said: “The northern corridor in Lake Mavis is significantly underexplored relative to the scale of the Lake Mavis LCT pegmatite system. “This program confirmed the detection of 14 pegmatite bodies, six of which were new, in soils that had not been systematically explored.”
The discoveries in Corona reveal a much broader strategic picture. The project is located in Ontario’s developing Wabigoon-Winnipeg River pegmatite field; This is a region of intense interest from lithium prospectors, including Green Technology Metals’ Seymour lithium project, which contains a significant amount of 14.6 million tonnes of lithium oxide graded at 1.21 percent.
This regional potential is supported by major efforts by North American governments to create a safe, local electric vehicle supply chain from mining to mobility.
Initiatives like Canada’s Critical Minerals Strategy and the U.S. Inflation Reduction Act are pouring billions of dollars into the industry and creating ideal conditions for Canadian lithium researchers.
The timing of the new discoveries could not be better, as lithium prices show signs of a sustained recovery after the recent decline.
Critical’s work in Lake Mavis’ northern corridor appears to be just one piece of a much larger Canadian lithium puzzle the company is trying to solve.
Management has set a massive project-wide exploration target of 18 million to 29 million tonnes at 0.8 to 1.2 percent lithium oxide grade in Lake Mavis.
This exploration target spans several prospects, including the Gullwing target, which is also located in the northern corridor of the project and is considered one of the most advanced exploration targets in the region. Gullwing’s own exploration target is between 7 million and 10 million tonnes of 0.3 to 1.2 percent lithium oxide.
While Mavis Lake is the flagship project, Critical is nothing more than a one-trick pony. The company has a diversified portfolio that includes the Halls Peak base metals project in New South Wales and a growing gold and critical minerals portfolio in New Zealand.
At Halls Peak the company has an existing resource of 840,000 tonnes consisting of 3.7 per cent zinc, 1.5 per cent lead and 0.44 per cent copper. However, it is their gorgeous silver quality that gets the pulse racing; A historic drill hole returns a stunning 1.15m intercept with a bonanza of 3,780 kilograms per tonne of silver.
Across the ditch in New Zealand, the company owns a vast 1694 square kilometer land parcel for gold, antimony and tungsten.
However, perhaps what sets it apart from the pack of traditional lithium researchers is the company’s shift to sub-battery technology. In parallel with its exploration efforts, Critical is developing an integrated solid-state battery evaluation program in the United States to access the entire lithium value chain.
With a swag of newly identified pegmatites in its main catch in Canada and high-grade prospects bubbling in the background, Critical has certainly unlocked the potential of the northern corridor at Lake Mavis. Now, with analyzes of more than 100 rock fragments pending, all eyes will be on the lab to see exactly what’s on the other side.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
