Critical Elements Lithium Completes Drill Program at Rose West Discovery and Intercepts Multiple, Wide Spodumene-Rich Pegmatites

MONTRÉAL, QC / ACCESSWIRE / March 13, 2024 / 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 31 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% Li₂O 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 Ta₂O₅ over 4.4m in hole RD-24-02. In addition to these early intersections of lithium-rich pegmatites, the program also discovered 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. "

Figure 1: Location map of the Rose West Discovery

Figure 2: Location map of drillholes from the winter 2024 campaign

Figure 3: Cross section N5764100 view to the North

Figure 4: Cross section N5764000 view to the North

Figure 5: Cross section N5763900 view to the North

Figure 6: Cross section N5763800 view to the North

Table 1: Spodumene pegmatite intersected during the 2024 winter drill program