Critical Resources Ltd (ASX:CRR) has strengthened its exploration footprint in a Tier-1 jurisdiction, executing two binding agreements that establish a strategically significant gold-antimony portfolio in New Zealand’s Otago region. The acquisition gives CRR a low-cost entry into New Zealand’s gold-producing heartland, benefiting from the country’s pro-investment “Fast-Track” exploration reforms. The company views the consolidation as a transformative opportunity to establish a presence in a proven and underexplored district.
The acquisition includes 100% ownership of the Cap Burn exploration permit (EP60300) and a 90% interest in four prospecting permit applications—Silver Peaks, Lammerlaw, Tokomairiro and Croesus—spanning historically mineralised zones in Otago and Reefton.
Located approximately 11 kilometres along strike from the +10 million ounce Macraes Gold Mine operated by OceanaGold Corporation (TSX: OGC), Cap Burn sits on the same structural corridor and has immediate land access in place.
Location of acquired New Zealand projects (Green) with major gold mining projects.
Previous drilling confirmed gold mineralisation beneath a strong surface arsenic anomaly. The company believes the project holds similarities to Santana Minerals' Rise and Shine system—an interpretation that remains untested under the current geological model.
Cap Burn Project cross-section (top) – conceptual down-plunge target at Cap Burn with comparison to Santana Minerals Rise and Shine cross-section (bottom)(Santana Minerals (ASX:SMI) August 2023 investor presentation. slide 9) (Note: cross sections are not to the same scale.)
The four additional permit areas were selected based on historic gold and antimony production, along with recent high-grade surface sample results. These applications further consolidate Critical’s presence across an established mineral province.
“The company is excited to execute the New Zealand acquisitions, which deliver immediate geological upside, complementing our existing gold and antimony portfolio with advanced drill-ready targets in a highly supportive jurisdiction. With gold and antimony forming the core of our current commodity focus, we see the creation of the strategic gold-antimony portfolio in New Zealand as a low-cost, high-impact growth lever for shareholders,” Critical Resources’ CEO, Tim Wither said.
“The company looks forward to progressing the New Zealand projects alongside our NSW Amoco and Mayview projects. To fast-track the exploration programs across the Critical Resources New Zealand portfolio, the Company has partnered with a New Zealand-based geological group, with links to the early discovery and resource growth period of Santana’s Mineral Rise and Shine deposit.
“Our strategy, once all transactions have been completed, will be to systematically drill test the Cap Burn target while simultaneously undertaking early low-cost exploration programs across the Silver Peaks, Lammerlaw, Tokomairiro, and Croesus permits to grow our pipeline of gold and antimony projects.”
Strategic diversification strengthens portfolio
Critical Resources has secured a commanding exploration foothold in New Zealand, acquiring a 1,463 square kilometre portfolio spanning the Otago and Reefton mineral provinces. The strategic move enhances CRR’s gold-antimony portfolio with technically robust, low-cost, and drill-ready assets across historically productive, yet underexplored terrain.
The acquisition includes the Cap Burn Project and four prospecting permit applications: Silver Peaks, Lammerlaw, Tokomairiro and Croesus. These holdings not only diversify CRR’s asset base but position the company to rapidly advance exploration under New Zealand’s favourable regulatory conditions, bolstered by the recently passed Fast-Track Approvals Bill.
Cap Burn: Analogous to New Zealand’s most recent gold discovery
Located 11 kilometres northwest of the Macraes gold mine, Cap Burn (EP60300) is drill-ready with land access secured. Historical exploration targeted arsenic-in-soil anomalies along the Cap Burn Fault — a structure geologically analogous to those at Macraes and Bendigo-Ophir.
Cap Burn Project location ~11km from OceanaGold Macraes Gold Operations with major and minor interpreted structures.
Legacy drilling returned results including 9.0 metres at 0.24 grams per tonne (g/t) gold, 1.8 metres at 0.76 g/t, and 6.0 metres at 0.45 g/t, validating a foliation-parallel orogenic model. Revised geological interpretation now targets high-grade mineralisation beneath these surface anomalies, akin to the Rise and Shine discovery, which yielded 16.5 metres at 8.9 g/t gold.
Silver Peaks and Lammerlaw: District-scale opportunity in Otago
CRR’s Silver Peaks and Lammerlaw applications together cover nearly 1,000 square kilometres in Central Otago. Silver Peaks lies south of the Hyde–Macraes Shear Zone and hosts on-strike extensions of historic gold-antimony lodes. Geological features include greenschist facies Otago Schist, shear zones and breccia — ideal conditions for mesothermal gold systems.
Lammerlaw, straddling a major tectonic boundary, contains folded schists and historical workings but remains largely untouched by modern methods. Together, both projects offer district-scale, shear-hosted gold discovery potential.
Tokomairiro: High-grade quartz reefs with gold-antimony upside
The 276 square kilometre Tokomairiro Project is situated in the underexplored southern Otago Schist. Historic mining from 1874 to 1909 yielded over 25,700 ounces of gold from reefs grading up to 25 g/t. Recent mapping revealed sulphide-bearing quartz reefs and rock chips returning up to 135 g/t gold.
Tokomairiro permit application showing location of historic gold working and recent rock samples.
While no antimony-focused exploration has occurred, historical workings and structural setting suggest potential for a polymetallic system.
Croesus: Gold-antimony and tungsten potential in Reefton
The 184 square kilometre Croesus Project in the Reefton Goldfield hosts gold-antimony lodes and greisen-hosted tungsten. Historic mines produced more than 4,500 ounces of gold, and recent fieldwork confirmed quartz-sulphide veining up to 3 metres wide with assays up to 28.9 g/t gold and 7.4% antimony.
Location Map of Croesus prospecting permit applications in the Reefton Goldfields region.
Tungsten-rich float samples grading up to 33.8% and 21.1% confirm a zoned polymetallic system. The project is positioned near Federation Mining’s Snowy River development and other active explorers, offering multi-commodity upside in a Tier-1 jurisdiction.
Investor webinar invitation – New Zealand acquisitions and forward strategy
Critical Resources CEO Tim Wither will host an investor webinar to discuss the company’s recent New Zealand acquisitions, outline the forward strategy, and provide an update on upcoming activities across its broader project portfolio.
Webinar details:
Date: Thursday, 7 August 2025
Time: 9:30 am AWST / 11:30 am AEST
Registration link: Register here