Critical Resources Begins Field Work to Unlock Multi-Deposit Lithium Potential at Mavis Lake

Systematic Field Program Targets Significant Lithium Resource Expansion

Critical Resources Limited (ASX:CRR) has kicked off a focused field exploration campaign at the Corona Pegmatite Field, a largely underexplored segment of the Mavis Lake Lithium Project in Ontario, Canada. Sitting just 4 km north of the existing Mavis Lake Main Zone Deposit, Corona lies within a ~5 km strike of the lithium-cesium-tantalum (LCT) pegmatite corridor that hosts Critical Resources' current 8.0 million tonnes at 1.07% lithium oxide (Li2O) inferred mineral resource. The company aims to convert this corridor into a multi-deposit lithium district by systematically mapping and sampling surface pegmatites to generate high-priority drill targets for its 2026 exploration program.

Surface mapping at Corona has revealed multiple pegmatite bodies up to 70 metres wide, with limited outcrop exposure due to overburden and wetland cover, a common challenge in the Ontario Shield region. This suggests a strong potential for concealed spodumene-bearing systems consistent with the broader fertile LCT pegmatite environment. The field program, expected to take around two weeks, is supported by an integrated technical dataset including geochemical sampling, lithogeochemistry, LIBS-based fractionation, and high-resolution aeromagnetic surveys, providing a robust foundation to prioritise targets.

Northern Prospects Strategy Builds on Gullwing Exploration Target

The Corona program complements Critical Resources' broader Northern Prospects exploration strategy, which includes the Gullwing Pegmatite target. Gullwing, characterised by pegmatite widths up to 80 metres and a 500-metre strike, carries an Exploration Target of 7 to 10 million tonnes at 0.3 to 1.2% Li2O. This initiative is part of a pipeline of prospective lithium-bearing pegmatite targets, such as Tot, Little Wing, Coates, and Drope, that collectively underpin the company's ambition to evolve Mavis Lake beyond a single-deposit asset. The integrated approach reflects a disciplined focus on defining drill-ready targets before committing to capital-intensive drilling campaigns, as highlighted in the company’s recent fieldwork updates and resource expansion plans.

Critical Resources’ Managing Director Tim Wither emphasised the potential for Corona to be a key part of this multi-deposit story, noting the significance of the extensive geological database and the opportunity to uncover concealed LCT pegmatite systems across the trend. This new program follows earlier announcements detailing the company’s expanded landholding and exploration targets, reinforcing the strategic importance of the Northern Prospects corridor for future growth.

Integrating Upstream Lithium Supply with Downstream Battery Technologies

Alongside its lithium exploration, Critical Resources is advancing a mine-to-market lithium strategy that integrates upstream resource development with downstream solid-state battery technology and thermal management systems. The company recently reported stable amorphous solid-state electrolyte performance over 1,200 hours at room temperature, addressing a key technical barrier in solid-state battery development. Additionally, it secured a technology evaluation licence for a two-phase spray cooling system that reduces data centre energy consumption by 25.8%, positioning CRR as a potential integrator of thermal management solutions for high-density electronics.

This dual focus on resource expansion and battery technology development positions Critical Resources uniquely within the lithium supply chain, linking raw material supply with next-generation battery system performance and safety. These initiatives add a layer of optionality and potential value capture beyond traditional mining operations.

Next Steps and Market Implications

The field program at Corona is underway, with geochemical results expected three to four weeks after completion. These results will be integrated with existing datasets to refine drill targets ahead of the 2026 Northern Prospects exploration campaign. While the Exploration Target remains conceptual and subject to the usual uncertainties of early-stage exploration, the campaign represents a critical step in expanding the Mavis Lake resource base.

Investors may note this development follows Critical Resources’ recent $319K Loyalty Options Offer aimed at bolstering cash reserves to support ongoing exploration and technology programs. It also builds on the company’s earlier Northern Prospects exploration strategy that highlighted the potential for district-scale lithium growth. The interplay between exploration progress and technology licensing will be key to watch as CRR advances its integrated lithium business model.