Critical Resources (CRR) has received assays from rock chip and float sampling that point to the presence of lithium and rare earth element enrichment at its recently acquired Graphic Lake project in Ontario, Canada.
The company said the results, stemming from 13 samples collected in preliminary surface reconnaissance work undertaken last year, demonstrated elevated anomalous lithium levels that were higher than minimum background levels.
Anomalous rare element enrichment was also detected, which Critical said further suggested a potential lithium-caesium-tantalum (LCT) type pegmatite system occurring at Graphic Lake.
Managing Director Alex Biggs said Graphic Lake was a fantastic addition to the company’s more advanced Mavis Lake lithium project as it expands its footprint in Ontario and accelerates exploration efforts.
“As an early-stage project, we feel that we can employ a strategic and structured exploration strategy to begin delineating further mineralisation with a target of defining a JORC-compliant resource,” he said.
“Our initial focus will be on proving geological continuity before defining drill targets.”
A work program to identify drill targets was under way and would include surface mapping and sampling, an airborne survey and channel sampling.
Critical said it anticipated undertaking a preliminary drill program totalling about 2,500 metres after the first-pass exploration activities.
CRR shares were trading 10.4 per cent lower at 8.6 cents at 11:37 am AEDT.
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