How Critical Resources Is Expanding Lithium and Gold-Antimony Frontiers in 2025
Critical Resources Limited has significantly expanded its Mavis Lake Lithium Project in Canada and completed maiden drilling at its Amoco Gold-Antimony Project in Australia, while also acquiring a large gold-antimony portfolio in New Zealand. The company raised $1.8 million to fund exploration and appointed Tim Wither as Managing Director.
- Mavis Lake Lithium Project expanded by 7,300 hectares with new adjacent claims
- Maiden Reverse Circulation drilling completed at Amoco Gold-Antimony prospect; assays pending
- Acquisition of ~1,800 sq km gold-antimony land package in New Zealand’s Otago and Reefton regions
- Successful $1.8 million capital raise with board participation to fund exploration and working capital
- Appointment of Tim Wither as Managing Director post-quarter
Strategic Expansion at Mavis Lake Lithium Project
Critical Resources Limited (ASX – CRR) has continued to bolster its position in the lithium sector by acquiring several adjacent lithium claims, expanding the Mavis Lake Lithium Project in Ontario, Canada by approximately 7,300 hectares. This consolidation creates a dominant landholding along a highly prospective regional trend, enhancing the company’s exploration potential in a region already known for significant spodumene mineralisation.
Since acquiring Mavis Lake in 2022, Critical Resources has rapidly advanced the project, delivering a maiden inferred resource estimate of 8 million tonnes at 1.07% lithium oxide and outlining an exploration target of 18 to 29 million tonnes at 0.8 to 1.2% lithium oxide. The company has completed over 58,000 metres of drilling, including at the Tot Prospect, where an expansive spodumene system remains open in all directions. Despite this progress, large areas remain underexplored, with future drilling and geophysical surveys planned to unlock further resource growth.
Progress on Gold-Antimony Front in Australia and New Zealand
In New South Wales, Australia, Critical Resources completed a maiden Reverse Circulation drill program at the Amoco Gold-Antimony Project, located within the mineral-rich New England Fold Belt. The program targeted a significant gold-arsenic soil anomaly supported by high-grade surface rock samples, with assay results expected in mid-November. The Amoco prospect lies near Larvotto Resources’ Hillgrove Antimony-Gold Project and Koonenberry Gold’s Enmore Gold Project, positioning it within a structurally prospective corridor.
Meanwhile, the company has expanded its footprint in New Zealand by acquiring a substantial portfolio of gold-antimony permits covering approximately 1,800 square kilometres in the Otago and Reefton regions. The drill-ready Cap Burn Project, situated near OceanaGold’s Macraes gold camp, offers immediate exploration opportunities with geological similarities to recent significant discoveries. Permit transfers and land access agreements are progressing, with drilling scheduled to commence shortly.
Capital Raising and Corporate Developments
To support its exploration ambitions, Critical Resources successfully raised $1.8 million before costs through a placement of 225 million shares at $0.008 each, accompanied by free attaching options. The placement attracted strong demand from both new and existing sophisticated investors, with board and management committing $435,000 subject to shareholder approval. The company ended the quarter with $1.7 million in cash, positioning it to continue advancing its key projects.
Post-quarter, Critical Resources appointed Tim Wither as Managing Director, signaling a leadership transition aimed at driving the company’s growth strategy. The board also approved an incentive package for Mr. Wither, aligning management interests with shareholder value creation.
Outlook Amid Supportive Regulatory Environments
Critical Resources is navigating a favourable landscape for critical minerals exploration, with regulatory reforms such as New Zealand’s Fast-Track Approvals Bill accelerating project permitting. The company’s diversified portfolio across lithium, gold, and antimony in stable jurisdictions like Canada, Australia, and New Zealand positions it well to capitalize on growing demand for these metals, essential for clean energy technologies and supply chain security.
Exploration and permitting activities continue apace, with upcoming assay results from Amoco and planned drilling at Cap Burn expected to provide important catalysts. The company’s strategic land acquisitions and technical programs underscore its commitment to building a robust pipeline of critical mineral assets.
Bottom Line?
With expanded landholdings and drilling underway, Critical Resources is poised for pivotal exploration results that could reshape its growth trajectory.
Questions in the middle?
- What will the maiden Amoco drill assay results reveal about the gold-antimony potential?
- How quickly can Critical Resources convert its expanded Mavis Lake landholding into increased lithium resources?
- Will the New Zealand permit transfers and land access agreements proceed smoothly to enable timely drilling?
