Critical Resources Acquires 1,463 sq km Gold-Antimony Tenements in New Zealand
Critical Resources Limited has executed binding agreements to acquire a strategic gold-antimony portfolio in New Zealand’s Otago and Reefton regions, including the drill-ready Cap Burn project near OceanaGold’s Macraes mine. This low-cost entry into a Tier-1 jurisdiction offers promising exploration upside supported by recent geological analogues and regulatory reforms.
- Acquisition of 100% of Cap Burn exploration permit and 90% of four prospecting permits
- Cap Burn project located ~11km from +10Moz Macraes gold mine on a major structural corridor
- Portfolio includes Silver Peaks, Lammerlaw, Tokomairiro, and Croesus permits with historical mining and high-grade samples
- Partnership with local geological experts linked to Santana Minerals’ Rise and Shine discovery
- New Zealand’s Fast-Track Approvals Bill expected to accelerate exploration and development
Strategic Acquisition in a Proven Gold Province
Critical Resources Limited (ASX, CRR) has taken a significant step to expand its gold and antimony portfolio by securing a cluster of exploration permits in New Zealand’s South Island. The company has entered into binding agreements to acquire 100% ownership of the Cap Burn exploration permit and 90% ownership of four prospecting permit applications; Silver Peaks, Lammerlaw, Tokomairiro, and Croesus; across the Otago and Reefton regions.
This move positions Critical Resources within one of the Southern Hemisphere’s most promising yet underexplored gold provinces. The Cap Burn project, in particular, lies approximately 11 kilometres along strike from OceanaGold’s Macraes gold mine, New Zealand’s largest with over 10 million ounces produced. The proximity and shared structural corridor suggest strong geological potential for high-grade orogenic gold mineralisation.
Drill-Ready Cap Burn, A Compelling Analogue
Cap Burn stands out as an advanced, drill-ready exploration permit with land access agreements already in place, enabling immediate field activities upon completion. Previous drilling targeted a pronounced arsenic-in-soil anomaly exceeding 1 square kilometre, confirming gold mineralisation within shear zones. The project’s geological model draws direct parallels to Santana Minerals’ Rise and Shine discovery, a recent +2.3 million ounce find in the same region, which has reshaped understanding of Otago’s gold systems.
Critical Resources has partnered with a New Zealand-based geological group intimately familiar with the Rise and Shine discovery phase, aiming to leverage this expertise to fast-track exploration. The company plans to systematically drill test Cap Burn’s down-plunge targets while concurrently advancing early-stage exploration across the other permits.
Broader Portfolio with Historical and Multi-Commodity Potential
The four prospecting permits cover a combined 1,452 square kilometres and include areas with historical gold and antimony mining, as well as high-grade surface samples. Silver Peaks and Lammerlaw lie within the Otago Schist Belt, a region known for structurally controlled mesothermal gold systems. Tokomairiro hosts historic quartz reef mining with reported grades up to 25 grams per tonne gold, while Croesus in the Reefton Goldfield features both gold-antimony lodes and high-grade greisen-hosted tungsten mineralisation.
These permits remain largely underexplored by modern techniques, presenting a rare opportunity for Critical Resources to build a diversified pipeline of gold, antimony, and tungsten prospects in a Tier-1 jurisdiction.
Favourable Jurisdiction and Regulatory Tailwinds
New Zealand ranks highly on the Fraser Institute’s 2025 Investment Attractiveness Index, offering political stability, transparent regulations, and strong community support for responsible mining. The recent Fast-Track Approvals Bill aims to streamline permitting for strategic projects, potentially reducing the time to drilling and discovery. This regulatory environment enhances the appeal of Critical Resources’ acquisitions, providing a foundation for efficient project advancement.
Financially, the acquisitions are structured with modest upfront payments and milestone-based deferred considerations, including net smelter royalties, aligning vendor interests with exploration success. Critical Resources expects to complete the transactions by September 2025 and will soon commence field activities, with an investor webinar scheduled to discuss the strategy and upcoming work programs.
Outlook and Strategic Significance
Critical Resources’ entry into New Zealand’s Otago and Reefton regions complements its existing Australian projects and represents a low-cost, high-impact growth lever. The combination of drill-ready assets, strong geological analogues, and a supportive jurisdiction sets the stage for potential resource growth and value creation. While exploration remains at an early stage, the company’s methodical approach and local partnerships position it well to unlock the region’s mineral potential.
Bottom Line?
Critical Resources’ New Zealand acquisitions mark a pivotal expansion, but exploration success and regulatory approvals will be key to unlocking shareholder value.
Questions in the middle?
- Will drilling at Cap Burn confirm high-grade gold mineralisation analogous to Rise and Shine?
- How quickly will New Zealand’s Fast-Track Approvals Bill accelerate Critical Resources’ exploration timeline?
- What are the prospects for defining a JORC-compliant resource across the newly acquired permits?
