How Critical Resources Is Expanding Lithium and Gold Frontiers While Betting on Battery Tech
Critical Resources Limited has significantly expanded its Mavis Lake Lithium Project in Ontario and progressed gold exploration in New Zealand, while securing exclusive rights to evaluate cutting-edge solid-state battery technology.
- Mavis Lake Lithium Project expanded to over 400 km² in Ontario
- Exclusive option secured to evaluate South Dakota School of Mines solid-state battery patents
- Initial drilling at New Zealand’s Cap Burn gold project confirms key structural targets
- Maiden RC drilling at Amoco gold-antimony project in NSW reveals substantial mineralisation
- Post-quarter $1.75 million capital raise with board participation supports ongoing exploration
Mavis Lake Expansion Strengthens North American Lithium Position
Critical Resources Limited (ASX, CRR) has strategically expanded its Mavis Lake Lithium Project in Ontario, Canada, to over 400 square kilometres, securing a dominant land position across highly prospective lithium-bearing structural corridors. This expansion enhances the project's potential role within the North American lithium supply chain, a critical component in the global push for electric vehicle and battery storage materials.
The company has also established a coordinated permitting and government advisory network by appointing SLR Consulting and the Pathway Group. This integrated framework aims to streamline regulatory approvals and unlock non-dilutive funding opportunities, reducing project risk and accelerating development timelines.
Advancing Gold Exploration in New Zealand
In New Zealand, Critical Resources has rapidly advanced its gold exploration footprint, particularly with the transfer of the Cap Burn exploration permit. The inaugural reverse circulation drilling program at Cap Burn successfully intersected the targeted shear zone, validating the geological model. Assay results are anticipated by the end of February, which will be pivotal in defining the project's next steps.
Additionally, the company is progressing prospecting permit transfers across the Otago and Reefton regions, enabling a staged exploration program designed to identify and prioritise future drill targets. Early reconnaissance has already highlighted promising gold-arsenic trends, including a standout high-grade rock-chip sample of 135 g/t gold at Tokomairiro.
Solid-State Battery Technology Option Aligns with Lithium Resources
Critical Resources has secured an exclusive evaluation option with the South Dakota School of Mines to assess next-generation solid-state lithium-ion battery patents. These patents offer superior safety and elevated-temperature performance compared to conventional lithium-ion batteries, addressing key limitations such as thermal runaway risks and cooling requirements.
This strategic move positions Critical Resources to integrate its lithium supply from Mavis Lake with advanced battery technology development, potentially connecting with a global network of automotive, grid, and technology companies seeking secure, battery-grade lithium sources.
Progress at Halls Peak Gold-Antimony Projects in NSW
In New South Wales, the maiden reverse circulation drilling program at the Amoco Gold-Antimony Project confirmed a substantial mineralised orogenic system, characterised by broad hydrothermal alteration and multi-element anomalism including gold, silver, and antimony. Permitting for extended drilling is underway to further delineate the system.
Negotiations continue for land access at the Mayview Antimony Prospect, adjacent to Larvotto Resources’ Hillgrove operations, with early rock sampling revealing high-grade antimony and gold mineralisation. This project could represent a continuation of one of Australia’s largest antimony-gold systems.
Capital Raising and Financial Position
Following the quarter, Critical Resources successfully raised $1.75 million through a placement at $0.01 per share, with board and management committing $250,000 subject to shareholder approval. As of 31 December 2025, the company held cash and cash equivalents of A$959,000, with a funding runway estimated at less than one quarter without additional capital. The company plans to carefully manage expenditure and continue seeking optimal funding opportunities to support its exploration programs.
Bottom Line?
With strategic land acquisitions, promising drill results, and a foothold in next-gen battery tech, Critical Resources is poised for a pivotal year, pending assay outcomes and funding execution.
Questions in the middle?
- When will assay results from the Cap Burn drilling be released, and how might they impact project valuation?
- What are the timelines and milestones for the solid-state battery technology evaluation with South Dakota School of Mines?
- How will Critical Resources manage its funding needs given the limited cash runway and ongoing exploration commitments?
