How Critical Resources Is Expanding Lithium and Gold-Antimony Frontiers in 2025
Critical Resources Limited reports significant expansion of lithium mineralisation at its Mavis Lake project and advances gold-antimony exploration in NSW, alongside appointing a new CEO and completing a $1.1 million capital raise.
- High-grade lithium assays extend Mavis Lake resource beyond 8Mt @ 1.07% Li2O
- Maiden drilling permits lodged for gold-antimony targets at Mayview and Amoco
- Detailed soil-geochemistry survey underway to refine gold-antimony drill targets
- Appointment of Tim Wither as CEO with extensive global mining leadership experience
- Company ends quarter with $1.82 million cash following $1.1 million capital raising
Mavis Lake Lithium Expansion
Critical Resources Limited has delivered encouraging results from its 2024 drilling campaign at the Mavis Lake Lithium Project in Ontario, Canada. Final assays confirm high-grade spodumene mineralisation extending beyond the existing inferred resource of 8 million tonnes at 1.07% lithium oxide. Notable intercepts include 14.6 metres at 1.83% Li2O and 11.7 metres at 1.28% Li2O, highlighting the project's strong potential for resource growth.
Drilling at the Tot Prospect, located 5.5 kilometres northeast of the main zone, also extended spodumene-bearing pegmatite both southwards and at depth, with intercepts such as 3.5 metres at 1.75% Li2O. These results reinforce Mavis Lake’s strategic importance within the North American lithium supply chain and position the project well for future market opportunities.
Advancing Gold-Antimony Exploration at Halls Peak
In New South Wales, Critical Resources is progressing its Halls Peak Gold and Antimony Projects, focusing on the Mayview and Amoco prospects. The company has lodged drilling permit applications for maiden RC drill programs designed to test structurally hosted gold-antimony systems identified through recent geophysical and geochemical work.
Surface sampling at Amoco has returned high-grade rock chip assays up to 15.1 g/t gold, 0.7% antimony, and 53.2 g/t silver over a one-kilometre trend, with a newly identified mineralised zone expanding the target area. A detailed soil-geochemistry survey commenced post-quarter to refine drill targets, with assay results expected in late August.
Petrographic analysis confirmed an orogenic gold-antimony system, similar to nearby significant operations, enhancing confidence in the prospect’s economic potential.
Corporate Developments and Financial Position
Critical Resources appointed Tim Wither as CEO during the quarter. With over 20 years of global mining sector experience, including leadership roles in ASX and TSX-listed companies, Wither brings a strong track record in project development and corporate strategy. His recent tenure at Maximus Resources involved advancing lithium projects and strategic partnerships with major industry players.
The company completed a $1.1 million capital raising through a placement of 275 million shares at $0.004 each, with attaching options, to fund ongoing exploration and working capital. As of 30 June 2025, Critical Resources held $1.82 million in cash, supporting its near-term operational activities.
Looking Ahead
Critical Resources is maintaining a disciplined approach to exploration and development, focusing on cost-effective workstreams that add long-term value. Environmental baseline studies and community engagement are progressing at Mavis Lake to align with regulatory and ESG standards. Meanwhile, the company continues to evaluate global critical mineral opportunities to expand its portfolio.
Investors will be watching closely for upcoming assay results from the soil-geochemistry program at Amoco and the outcomes of the maiden drilling campaigns, which could significantly enhance the company’s resource base and market positioning.
Bottom Line?
With promising exploration results and fresh leadership, Critical Resources is poised for growth but must navigate funding and execution challenges ahead.
Questions in the middle?
- Will upcoming drilling at Mayview and Amoco confirm the scale of the gold-antimony system?
- How will CEO Tim Wither’s leadership influence Critical Resources’ strategic direction and capital management?
- Can the company secure additional funding to sustain exploration beyond its current cash runway?
