Critical Resources Ltd (ASX:CRR) has made significant advancements in the June quarter, highlighted by strong drill results at its Mavis Lake Lithium Project in Ontario, Canada, and strategic progress at its Halls Peak Gold-Antimony Projects in New South Wales.
At Mavis Lake, the company confirmed significant resource expansion potential, with drill results revealing high-grade spodumene intersections extending well beyond the current inferred mineral resource estimate (MRE), underscoring the project's long-term growth prospects.
Meanwhile, the Halls Peak projects are progressing towards their maiden drilling programs, with surface sampling at Amoco returning high-grade assays of up to 15.1 g/t gold, 0.7% antimony and 53.2 g/t silver.
These results, combined with advancing environmental work at Mavis Lake and permitting progress at Halls Peak, position Critical Resources to unlock considerable value in both lithium and precious metals sectors in the coming months.
Mavis Lake Lithium Project: Expanding resource base
The June quarter saw Critical Resources make substantial progress at the Mavis Lake Lithium Project, where drilling results from the 2024 campaign have confirmed the expansion potential of the project's lithium mineralisation. Final assay results from the campaign have highlighted the continued growth of spodumene-bearing pegmatites beyond the existing inferred MRE of 8 million tonnes (Mt) @ 1.07% lithium oxide (Li₂O).
Mavis Lake Main Zone cross-section illustrating the mineralisation from MF24-267.
Key intersections outside the current resource boundary include 14.6 metres at 1.83% Li₂O (MF24-267) and 11.7 metres at 1.28% Li₂O (MF24-268), indicating that Mavis Lake has considerable resource expansion potential.
In addition to the main zone, drilling at the Tot Prospect, about 5.5 kilometres northeast of the main zone, extended spodumene mineralisation at depth and along strike. Notable results from this area include 3.5 metres at 1.75% Li₂O (TL24-028) and 5.9 metres at 0.72% Li₂O (TL24-026).
These developments position Mavis Lake as a strategic asset for the North American lithium supply chain, with its high-quality spodumene mineralisation offering strong growth prospects. The company continues to focus on maintaining momentum through cost-effective technical work and community engagement, aiming to advance the project towards a development-ready status.
Critical Resources is also advancing environmental baseline studies and permitting initiatives to ensure that Mavis Lake can capitalise on future lithium market demand. The discovery of new spodumene-bearing pegmatites, such as the Gullwing Pegmatite, further enhances the exploration upside, with ongoing greenfield programs aimed at unlocking additional resource potential.
Halls Peak Gold-Antimony Projects: Maiden drilling programs on the horizon
At the Halls Peak Gold-Antimony Projects in New South Wales, Critical Resources is moving towards initiating its maiden drill programs at the high-priority Amoco and Mayview prospects, lodging two drilling permit applications with the NSW Resources Regulator for a combined 24-hole reverse circulation (RC) drilling campaign.
Location Plan of Critical Resources - Halls Peak tenure and regionally significant Hillgrove and Enmore with regional structures.
This program is designed to test structurally hosted gold-antimony systems identified through recent geophysical reinterpretation and surface geochemistry.
Encouraging results from surface sampling at Amoco, which included high-grade assays of up to 15.1 g/t gold, 0.7% antimony, and 53.2 g/t silver, have identified a strong mineralised trend along a 1-kilometre strike length. A new zone of mineralisation, 350 metres south of the original trend, has also been identified.
Location Plan of recent (circles) and legacy rock chip (squares) samples with interpreted major/minor structures from aeromagnetic survey (black dashed).
Geological reviews, including petrographic analysis, have confirmed the presence of quartz-sulphide veins, breccia and sulphides, consistent with an orogenic gold-antimony system, similar to the nearby Hillgrove Antimony-Gold Operations. These findings reinforce the potential for high-grade gold and antimony discoveries at Amoco, with the area now being targeted for drill testing.
The Amoco project sits within the New England Fold Belt, which has historically hosted several significant gold-antimony deposits, adding further confidence in its potential. With the completion of the soil-geochemistry survey at Amoco, the company is refining its drill targeting strategy and expects assay results by late August 2025.
Corporate developments
On the corporate front, Critical Resources appointed Mr Tim Wither as its new chief executive officer during the quarter. Wither brings more than 20 years of experience in the global mining industry, having previously held senior roles across various multi-commodity projects. His appointment strengthens the company's leadership team as it continues to explore and develop its key assets.
The company reported a cash position of $1.82 million as of June 30, 2025, positioning it well for its upcoming exploration activities. In addition, Critical Resources raised $1.1 million through a capital raising completed in late June, with the funds earmarked for advancing exploration at its existing projects.
Project Location map showing Halls Peak project area proximity to significant Antimony-Gold projects in the Armidale region, NSW, Australia.