An Australian company is eager to put a Dryden-area lithium deposit into production.
Critical Resources Ltd. has announced the start of a scoping study of its Mavis Lake Project in making the transition from an exploration company to a mine developer.
A scoping study is an initial first-step appraisal to determine whether a resource has the potential to develop into a mining project,
Wave International, considered consulting specialists on lithium projects, will steer the study, which is due out by mid-year.
A news release from Critical Resources said the study will delve into the infrastructure needs and the construction and operating costs of a potential mine.
The company said it’s “primary objective is the rapid development” of Mavis Lake, located 19 kilometres northeast of Dryden.
The Perth-based firm has been on a fast-paced exploration schedule since acquiring the project in the fall of 2021. It recently picked up extra ground to grow its a long and narrow corridor of claims to almost 23,000-hectares as winter drilling is underway with two rigs.
Critical Resources holds base metal and copper projects in Australia and Oman, and a stable of lithium properties in Northern Ontario, but Mavis Lake is considered its flagship project.
The company has made it clear it’s very much on the mine development track to service the North American electric vehicle sector.