Cap Burn Acquisition Completes: Critical Resources Prepares for Drilling Near Macraes Gold Camp

Strategic Acquisition in a Promising Gold Belt

Critical Resources Limited (ASX, CRR) has taken a significant step forward in its gold exploration ambitions by completing the acquisition of the Cap Burn Gold Project in New Zealand’s South Island. The transfer of the exploration permit received formal approval from New Zealand Petroleum and Minerals, clearing the way for the company to commence drilling activities on a project that lies within a highly prospective and underexplored region.

Located approximately 11 kilometres from OceanaGold’s Macraes gold camp, which boasts over 10 million ounces of gold, Cap Burn shares a similar geological setting to Santana Minerals’ Rise and Shine discovery. This proximity to world-class deposits underscores the potential value of the project and provides shareholders with exposure to a region gaining renewed exploration interest.

Drilling Program Ready to Launch

With the land access agreement successfully transferred and a preferred drilling contractor, Ecodrilling NZ, secured, Critical Resources is poised to begin its inaugural reverse circulation drilling program in the coming weeks. The initial phase targets a one-kilometre strike length along the Cap Burn fault structure, focusing on high-grade gold mineralisation beneath a notable arsenic-in-soil anomaly.

Previous drilling at Cap Burn has confirmed the presence of orogenic gold mineralisation within shear zones, validating the geological model that draws parallels to both Macraes and the Bendigo–Ophir gold deposits. The company’s approach leverages insights from the Rise and Shine discovery, targeting down-plunge extensions beneath surface arsenic halos, which could reveal significant high-grade gold deposits.

Expanding New Zealand Footprint

Beyond Cap Burn, Critical Resources is advancing permit transfers for several other exploration areas including Tokomairiro, Lammerlaw, Croesus, Silver Peaks, and Rock & Pillar. These projects collectively expand the company’s footprint in the Otago and Reefton regions, known for their rich mining heritage and recent discoveries. The company plans to initiate field mapping and geochemical programs across these permits in early 2026, signaling a multi-stage exploration strategy.

Critical Resources’ Managing Director, Tim Wither, emphasized the company’s commitment to responsible development and collaboration with local stakeholders, ensuring exploration activities harmonize with ongoing farming operations. This approach aims to balance resource development with community interests, a critical factor in New Zealand’s regulatory environment.

Outlook and Market Positioning

The Cap Burn acquisition and the broader New Zealand exploration program diversify Critical Resources’ gold portfolio and position the company for growth in a geologically fertile yet underexplored region. With low holding costs and a substantial landholding of nearly 1,800 square kilometres, Critical Resources is well placed to capitalize on the region’s potential, supported by government policies favorable to mineral exports.

As drilling commences, investors will be watching closely for assay results that could validate the company’s geological models and unlock value. The coming months will be critical in determining whether Cap Burn can emerge as a significant new gold discovery within New Zealand’s evolving mining landscape.