Critical Elements Lithium completes drill program at Rose West Discovery and intercepts multiple, wide spodumene-rich pegmatites
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PRESS RELEASE
Critical Elements Lithium completes drill program at Rose West Discovery and
intercepts multiple, wide spodumene-rich pegmatites
March 13th, 202 4 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX -V: CRE) (US
OTCQX: CRECF) (FSE: F12) ( "Critical Elements" or the "Corporation") is pleased to announce
completion of a 31-hole, 3,670-meter drill program on its 100% owned Rose West Discovery with multiple
spodumene-rich pegmatites intersected.
The Rose West Discovery (“Rose West”) is situated within the Rose and Rose South property blocks
(Figure 1) , which constitute 395 km2, or only 38% of the total 1,050 km2 in the Corporation’s highly
prospective exploration portfolio in Québec.
The 2024 winter drill campaign successfully completed 3 ,670 meters of drilling in 3 1 holes on the
spodumene-bearing pegmatite showings discovered during the 2023 summer prospection campaign,
herein referred to as Rose West. Drilling results demonstrated the continuity of a mineralized pegmatite
body thus far over 450m strike, 370m down dip and to a vertical depth of 140m. In the west, the body is
comprised of multiple near surface mineralized pegmatites that range up to an apparent thickness of 12.4m
individually. These bodies appear to coalesce into a more substantial spodumene-bearing pegmatite in the
east with an apparent width of up to 40.4m . The near surface pegmatites appear to strike northwesterly
with a gentle dip of 15°, while the thicker pegmatite appears to strike easterly with a near -horizontal dip of
13°. The body is still open in all directions, while the greatest exploration potential appears to be to the east.
Mineralized intercepts are summarized in Table 1.
Initial assay results from the drill program have been received for the first two holes, RD-24-01 and RD-24-
02. Both drill holes returned high grade results with 1.61% Li2O and 135ppm Ta2O5 over 6.9m, including
2.17% Li 2O over 4.3m in hole RD-24-01, and 1.00% Li2O and 285 ppm Ta2O5 over 8.65m , including
1.34% Li2O and 376 ppm Ta 2O5 over 4.4m in hole RD-24-02. In addition to these early intersections of
lithium-rich pegmatites, the program also discover ed a different style of mineralization associated with an
aplite dyke with high grade tantalum values, including 571 ppm Ta2O5 over 1.1m. A summary of the assay
results received to date is presented in Table 2.
Jean-Sébastien Lavallée, Chief Executive Officer of the Corporation, stated: “Drill confirmation of high -
grade lithium mineralization at Rose West is the beginning of an important new chapter for Critical
Elements. While management is focused on delivery of a project financing package for the Rose Project
that minimizes shareholder dilution, the resumption of drilling on the Corporation’s extensive land position
should begin to crystalize that position’s value for shareholders . Additional drilling on multiple promising
targets identified on Critical Elements’ large, prospective land position could also yield economically
valuable mineralization later this year. ”
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Figure 1: Location map of the Rose West Discovery
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Figure 2: Location map of drillholes from the winter 2024 campaign
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Figure 3: Cross section N5764100 view to the North
Figure 4: Cross section N5764000 view to the North
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Figure 5: Cross section N5763900 view to the North
Figure 6: Cross section N5763800 view to the North
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Table 1: Spodumene pegmatite intersected during the 2024 winter drill program
Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval* Type
Easting Northing (m) () () (m) (m) (m)
RD-24-01 411119 5763973 153.00 235 -50 6.80 13.70 6.90 Pegmatite
95.10 102.80 7.70 Pegmatite
RD-24-02 411104 5763903 156.00 325 -50 10.60 19.25 8.65 Pegmatite
126.30 128.50 2.20 Pegmatite
130.25 133.25 3.00 Pegmatite
145.20 147.10 1.90 Pegmatite
RD-24-03 411105 5763898 114.00 145 -50 21.90 24.40 2.50 Pegmatite
26.35 27.60 1.25 Pegmatite
34.80 37.50 2.70 Pegmatite
41.60 43.35 1.75 Pegmatite
103.50 106.50 3.00 Pegmatite
RD-24-04 411145 5763933 111.00 325 -70 16.40 20.20 3.80 Pegmatite
67.60 69.00 1.40 Pegmatite
101.00 108.00 7.00 Pegmatite
RD-24-05 411188 5763963 51.00 315 -70 24.30 27.25 2.95 Pegmatite
RD-24-06 411244 5763876 69.00 315 -70 26.60 28.70 2.10 Pegmatite
46.60 49.80 3.20 Pegmatite
56.60 63.30 6.70 Pegmatite
RD-24-07 411163 5763819 66.00 315 -70 17.80 30.00 12.20 Pegmatite
50.90 52.40 1.50 Pegmatite
54.30 56.20 1.90 Pegmatite
RD-24-08 411122 5763795 57.00 315 -70 16.90 25.90 9.00 Pegmatite
37.95 40.00 2.05 Pegmatite
RD-24-09 411080 5763759 60.00 315 -70 4.00 8.00 4.00 Pegmatite
23.60 31.70 8.10 Pegmatite
RD-24-10 411106 5763725 63.00 315 -70 3.55 10.50 6.95 Pegmatite
RD-24-11 411139 5763690 66.00 315 -70 3.60 9.20 5.60 Pegmatite
RD-24-12 411176 5763719 102.00 315 -70 14.45 20.00 5.55 Pegmatite
RD-24-13 411302 5763798 97.00 290 -70 8.00 9.50 1.50 Pegmatite
19.60 20.50 0.90 Pegmatite
56.40 68.80 12.40 Pegmatite
RD-24-14 411357 5763709 117.00 290 -70 43.80 45.80 2.00 Pegmatite
55.30 57.00 1.70 Pegmatite
RD-24-15 411438 5763775 114.00 300 -70 54.50 57.40 2.90 Pegmatite
96.40 99.20 2.80 Pegmatite
RD-24-16** 411384 5763852 114.00 300 -70 52.60 55.50 2.90 Pegmatite
111.65 114.00 2.35 Pegmatite
RD-24-16A 411385 5763851 144.00 300 -70 53.60 56.70 3.10 Pegmatite
109.60 112.25 2.65 Pegmatite
118.25 143.20 24.95 Pegmatite
RD-24-17 411320 5763930 159.00 300 -70 76.70 79.70 3.00 Pegmatite
96.00 105.00 9.00 Pegmatite
127.00 147.50 20.50 Pegmatite
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Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval* Type
Easting Northing (m) () () (m) (m) (m)
RD-24-18 411269 5764015 207.00 300 -70 67.40 81.20 13.80 Pegmatite
107.20 107.80 0.60 Pegmatite
110.00 111.40 1.40 Pegmatite
118.90 124.60 5.70 Pegmatite
RD-24-19 411347 5764073 186.00 245 -70 71.40 76.60 5.20 Pegmatite
91.00 101.10 10.10 Pegmatite
112.80 120.00 7.20 Pegmatite
RD-24-20 411408 5763990 177.00 245 -70 82.10 122.50 40.40 Pegmatite
141.30 144.30 3.00 Pegmatite
RD-24-21 411469 5763910 177.00 245 -70 120.40 144.70 24.30 Pegmatite
RD-24-22 411524 5763824 177.00 245 -70 128.20 159.80 31.60 Pegmatite
RD-24-23A 411606 5763887 153.00 245 -70 122.60 142.90 20.30 Pegmatite
RD-24-24 411547 5763965 147.00 235 -70 104.50 136.00 31.50 Pegmatite
RD-24-25** 411490 5764049 84.60 245 -70 73.70 84.60 10.90 Pegmatite
RD-24-25A 411489 5764049 168.00 245 -70 72.30 107.60 35.30 Pegmatite
RD-24-26 411431 5764131 117.00 245 -70 82.00 103.80 21.80 Pegmatite
RD-24-27 411519 5764187 111.00 245 -70 84.20 102.85 18.65 Pegmatite
104.90 106.10 1.20 Pegmatite
RD-24-28 411569 5764115 135.00 235 -70 71.70 72.50 0.80 Pegmatite
83.10 114.50 31.40 Pegmatite
121.70 126.20 4.50 Pegmatite
* Core length; the true thickness is between 80 to 95% of the core length.
** Hole abandoned before reaching target length.
Table 2: Results from Rose West Discovery 2024 winter drill program
Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval* Li2O Ta2O5 Lithology
Easting Northing (m) () () (m) (m) (m) (%) ppm (g/t)
RD-24-01 411119 5763973 153.00 235 -50 6.80 13.70 6.90 1.61 135 Pegmatite
including 7.70 12.00 4.30 2.17 77 Pegmatite
24.00 25.10 1.10 0.02 571 Aplite
95.10 102.80 7.70 0.03 374 Pegmatite
RD-24-02 411104 5763903 156.00 325 -50 10.60 19.25 8.65 1.00 285 Pegmatite
including 10.60 15.00 4.40 1.34 376 Pegmatite
100.80 102.20 1.40 0.04 394 Aplite
103.70 104.20 0.50 0.04 339 Aplite
126.30 128.50 2.20 0.04 145 Pegmatite
130.25 133.25 3.00 0.03 153 Pegmatite
145.20 147.10 1.90 0.03 239 Pegmatite
RD-24-03 411105 5763898 114.00 145 -50 PENDING RESULTS
RD-24-04 411145 5763933 111.00 325 -70 PENDING RESULTS
RD-24-05 411188 5763963 51.00 315 -70 PENDING RESULTS
RD-24-06 411244 5763876 69.00 315 -70 PENDING RESULTS
RD-24-07 411163 5763819 66.00 315 -70 PENDING RESULTS
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Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval* Li2O Ta2O5 Lithology
Easting Northing (m) () () (m) (m) (m) (%) ppm (g/t)
RD-24-08 411122 5763795 57.00 315 -70 PENDING RESULTS
RD-24-09 411080 5763759 60.00 315 -70 PENDING RESULTS
RD-24-10 411106 5763725 63.00 315 -70 PENDING RESULTS
RD-24-11 411139 5763690 66.00 315 -70 PENDING RESULTS
RD-24-12 411176 5763719 102.00 315 -70 PENDING RESULTS
RD-24-13 411302 5763798 97.00 290 -70 PENDING RESULTS
RD-24-14 411357 5763709 117.00 290 -70 PENDING RESULTS
RD-24-15 411438 5763775 114.00 300 -70 PENDING RESULTS
RD-24-16 411384 5763852 114.00 300 -70 PENDING RESULTS**
RD-24-16A 411385 5763851 144.00 300 -70 PENDING RESULTS
RD-24-17 411320 5763930 159.00 300 -70 PENDING RESULTS
RD-24-18 411269 5764015 207.00 300 -70 PENDING RESULTS
RD-24-19 411347 5764073 186.00 245 -70 PENDING RESULTS
RD-24-20 411408 5763990 177.00 245 -70 PENDING RESULTS
RD-24-21 411469 5763910 177.00 245 -70 PENDING RESULTS
RD-24-22 411524 5763824 177.00 245 -70 PENDING RESULTS
RD-24-23 411605 5763887 18.00 245 -70 **
RD-24-23A 411606 5763887 153.00 245 -70 PENDING RESULTS
RD-24-24 411547 5763965 147.00 235 -70 PENDING RESULTS
RD-24-25 411490 5764049 84.60 245 -70 PENDING RESULTS**
RD-24-25A 411489 5764049 168.00 245 -70 PENDING RESULTS
RD-24-26 411431 5764131 117.00 245 -70 PENDING RESULTS
RD-24-27 411519 5764187 111.00 245 -70 PENDING RESULTS
RD-24-28 411569 5764115 135.00 235 -70 PENDING RESULTS
* Core length; the true thickness is between 80 to 95% of the core length.
** Hole abandoned before reaching target length.
Quality assurance/quality control
Quality assurance and quality control procedures have been implemented to ensure best practices in
sampling and analysis of the drill core samples. Standards, duplicate and blanks were regularly inserted
into the sample stream. The drill core samples were delivered, in secure tagged bags to the ALS Minerals
laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation.
The samples are crushed to 70% minus 2 mm, then separated and pulverized to 85% passing 75 μm. All
samples are analyzed using sodium peroxide fusion ME -MS-89L, with full analysis for 52 elements. Value
over 25,000 ppm Li were re -assays using Li -ICP-82b and value over 2,500 ppm Ta 2O5 were re-assays
using Ta-XRF10.
Qualified persons
Sebastien Perreault, P. Eng., is the qualified persons that have reviewed and approved the technical
contents of this news release on behalf of the Corporation.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle
and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high-
purity Rose Lithium-Tantalum project in Québec, the Corporation’s first lithium project to be advanced within
a land portfolio of over 1,050 km 2. On August 29, 2023, the Corporation announced results of a new
Feasibility Study on Rose for the production of spodumene concentrate. The after-tax internal rate of return
for the Project is estimated at 65.7%, with an estimated after -tax net present value of US$2.2B at an 8%