Critical Resources Ltd (ASX:CRR, FRA:9S70) has reported progress across its lithium, gold and battery-technology portfolio during the quarter ended December 31, 2025, including land consolidation at its flagship Canadian lithium project, inaugural drilling in New Zealand and corporate funding activity.
Mavis Lake lithium project expanded in Canada
At the Mavis Lake Lithium Project in Ontario, Critical Resources expanded its landholding to more than 400km², securing a consolidated position across several structurally controlled lithium corridors considered prospective for spodumene-hosted mineralisation.
Mavis Lake Project Area Map showcasing newly staked claim cells and locations of key Deposits and Occurrences.
The expanded footprint is intended to strengthen the project’s strategic relevance to the North American lithium supply chain.
During the quarter, the company appointed Pathway Group and SLR Consulting to establish a coordinated technical and government advisory framework. The appointments are aimed at streamlining permitting pathways and identifying potential access to non-dilutive funding sources to support longer-term project development.
New Zealand gold drilling commences
In New Zealand, the Cap Burn permit transfer was granted by New Zealand Petroleum & Minerals (NZP&M), allowing the company to commence its inaugural drill program during the quarter.
The initial drilling program successfully intersected the targeted Cap Burn shear-zone structure. Assay results are expected by the end of February 2026.
Elsewhere in New Zealand, prospecting permit transfers continued to progress through NZP&M across the Otago and Reefton regions. The company said these permits will support a staged early-stage exploration program focused on prospecting and target definition ahead of potential future drilling.
Solid-state battery technology option secured
Critical Resources also secured an option agreement with the South Dakota School of Mines, granting the company exclusive rights to evaluate a portfolio of next-generation solid-state lithium-ion battery patents.
Dendrites are microscopic, needle-like lithium metal formations that can cause severe damage, including internal short circuits, capacity degradation, and safety risks like thermal runaway between battery cells.
The company said the solid-state battery technology demonstrates improved safety characteristics and elevated-temperature performance relative to conventional lithium-ion batteries, with potential applications across data centres, defence, mining and grid-storage sectors.
The technology evaluation is strategically aligned with the company’s Mavis Lake lithium asset, with management noting the potential to link upstream lithium supply with downstream battery technology development.
Halls Peak gold and antimony projects
In New South Wales, maiden reverse circulation drilling at the Amoco prospect within the Halls Peak Project confirmed the presence of a mineralised orogenic system, supported by broad zones of hydrothermal alteration.
Permitting is ongoing to enable follow-up and extended drilling programs.
Separately, negotiations continued during the quarter for a land-access agreement at the Mayview Antimony Prospect, which is located adjacent to Larvotto Resources’ Hillgrove Antimony-Gold Operations.
Corporate update
Subsequent to quarter end, Critical Resources completed a $1.75 million capital raising before costs. Directors and management participated in the placement with $250,000, subject to shareholder approval.
The company said proceeds will be used to advance exploration activities across its portfolio and progress its battery-technology evaluation program.