Critical Elements Lithium Corp. (TSXV:CRE, Forum) has unveiled grab sample results from a new high-grade spodumene-bearing pegmatite 8 km west of its Rose deposit in Qubec.
The company’s flagship Rose lithium-tantalum project is in the Rose and Rose South property blocks, which make up 395 square km or only 38 per cent of its 1,050 square km exploration portfolio. A feasibility study for the project estimates an after-tax internal rate of return of 65.7 per cent with an after-tax net present value of US$2.2 billion at an 8 per cent discount rate.
Initial prospecting during summer 2023, including 866 rock samples, sought to identify new pegmatite bodies, refine the geological interpretation of the property, and prioritize further exploration work. These efforts led to new outcrops in the Rose pegmatite swarm with an apparent strike length exceeding 400 metres.
Results from an initial 10 rock samples are all lithium-bearing, with 50 per cent grading over 3 per cent Li2O. The company is devising a large-scale drill program to test the new discovery.
Selected sample results from the new discovery
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