Key facts about Critical Resources' Mavis Lake Lithium Project discovery

Critical Resources Limited (ASX: $CRR) has announced the discovery of 31 new LCT pegmatites, including multiple spodumene-bearing pegmatites, at the Mavis Lake Lithium Project in Ontario, Canada. The company's 2024 Summer Field Exploration Campaign has yielded outstanding initial results, reinforcing the potential for significant lithium discoveries at the project. The field program, which began in early May, involved prospecting, mapping, and sampling to identify new pegmatites and determine fractionation trends at the Northern Prospects.

Executive commentary on the Mavis Lake Lithium Project discovery

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. The field program 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. - Critical Resources Managing Director, Alex Cheeseman

Summary of Critical Resources' Mavis Lake Lithium Project discovery

Critical Resources Limited has made significant discoveries at the Mavis Lake Lithium Project, reinforcing the outstanding potential for further lithium discoveries. The company's 2024 Summer Field Exploration Campaign has resulted in the identification of 31 new LCT pegmatites, including extensions of known spodumene-bearing pegmatites. The discoveries have enhanced the company's confidence in delivering on the recently published Exploration Target. With advanced planning completed for drill pad locations and permits in place for mechanical stripping and channel sampling, Critical Resources is poised to continue its exploration and project development workstreams for Mavis Lake. The pending assay results will inform future drill testing priorities, with the Tot pegmatite identified as the highest priority for immediate follow-up exploration effort. The company expects a stripping and channel sampling program at Tot to commence in early July 2024, demonstrating its commitment to advancing the project's development.