Critical Resources Advances Lithium and Gold Exploration with Solid-State Battery Breakthroughs

Focused Lithium Expansion at Mavis Lake

Critical Resources (ASX:CRR) has outlined a targeted 2026 exploration program concentrating on the Gullwing–Tot Northern Prospects corridor within its Mavis Lake Lithium Project in Ontario, Canada. This initiative builds on the maiden 8 Mt @ 1.07% Li₂O Inferred Mineral Resource and aims to systematically test extensions of surface spodumene mineralisation across a district-scale footprint exceeding 10 km. The Gullwing prospect alone carries an Exploration Target of 7–10 Mt @ 0.3–1.2% Li₂O, positioning it as a potential satellite or standalone lithium hub.

Permitting and regulatory engagement are advancing through partnerships with SLR Consulting and Pathway Group, who are aligning environmental assessments and government advocacy to streamline the pathway from exploration to development. This integrated approach reflects Critical Resources’ ambition to de-risk project delivery within Canada’s critical minerals sector.

Alongside this, the company is expanding its lithium exploration footprint with a recent surface program at the underexplored Corona Pegmatite Field, a ~5 km trend that complements the Northern Prospects strategy and supports the vision of a multi-deposit lithium district Corona Field Program at Mavis Lake.

New Zealand Gold and Critical Minerals Portfolio Consolidation

In New Zealand, Critical Resources has consolidated its strategic portfolio to 1,694 km² across six permits in the Otago and Reefton regions, focusing on orogenic gold, antimony, and tungsten belts. The company’s inaugural RC drilling at the Cap Burn Gold Project confirmed a broad, structurally controlled gold system with assays including 7 m @ 0.37 g/t Au and 1 m @ 1.29 g/t Au within the TZ4 schist unit. Mineralisation remains open at depth and along strike, with groundwater inflow limiting hole depths, leaving down-plunge extensions as prime targets for follow-up drilling.

Fieldwork has commenced at Lammerlaw and Croesus projects, targeting high-grade gold and tungsten mineralisation. Croesus notably hosts historical tungsten grades up to 42.6% WO₃, a critical commodity whose price has surged significantly in recent years. These activities aim to generate drill-ready targets and refine geological models across multiple prospects, maintaining operational flexibility NZ Exploration Fieldwork.

District-Scale Base Metals and Precious Metals at Halls Peak

The Halls Peak Base Metals Project in New South Wales continues to reveal significant potential. Petrographic analysis at the Amoco Project confirmed a late-stage orogenic gold-antimony-silver lode system analogous to the nearby Hillgrove deposit. Surface sampling returned high-grade assays up to 17.9 g/t Au, 0.7% Sb, and 53.2 g/t Ag, supporting the prospect’s district-scale significance.

Meanwhile, the Gibsons Project hosts a JORC 2012 Inferred Resource of 840,000 tonnes at 3.7% Zn, 1.5% Pb, 0.44% Cu, and notably 30 g/t Ag. Exceptional silver intercepts include grades as high as 3,780 g/t Ag over 1.15 m, with mineralisation open along strike and at depth. The presence of two distinct silver mineralisation styles, massive sulphide-hosted and black shale-hosted, expands exploration opportunities.

Mayview’s antimony prospect adjacent to Hillgrove also shows promising high-grade surface samples, with ongoing landowner engagement for low-impact soil surveys to better delineate targets.

Solid-State Lithium-Ion Battery Technology Progress

Critical Resources has made notable strides in its solid-state lithium-ion battery evaluation program, conducted under the U.S. NSF-supported Centre for Solid-State Electric Power Storage (CEPS). The Dry Supersonic Deposition (DSD) cathode program validated solvent-free fabrication of lithium iron phosphate cathodes, demonstrating controllable electrochemical performance and a mechanically robust interface with aluminium current collectors. This method promises cost, environmental, and manufacturing advantages over conventional slurry-based processes.

Complementing this, the Amorphous Solid-State Electrolyte (ASE) program delivered stable lithium-metal interface performance over 1,200 hours at room temperature with an ionic conductivity of 3.2 mS cm⁻¹. This addresses a key technical hurdle in solid-state battery development by materially reducing interface degradation risks. Together, these results advance the company’s integrated battery technology strategy from theoretical feasibility toward prototype cell development.

Capital Position and Corporate Developments

Supporting these initiatives, Critical Resources completed a A$1.75 million capital raise during the quarter at A$0.010 per share, with board and management participating to the tune of A$250,000. The placement was well received by sophisticated investors, underpinning the company’s exploration and technology programs. Cash and equivalents stood at A$1.6 million at quarter-end.

Operational expenditures focused on exploration drilling, fieldwork, permitting, and battery technology evaluation, with no mining production activities reported. Related party payments of A$160,000 reflect routine director fees and salaries.

Looking ahead, the company is actively evaluating additional critical minerals and technology opportunities globally, though no definitive acquisitions have been announced.