Critical Resources Ltd (ASX:CRR, FRA:9S70) has outlined its 2026 exploration program for the Mavis Lake Lithium Project in Ontario, Canada, targeting the Gullwing–Tot Northern Prospects corridor as it builds on the maiden inferred mineral resource of 8 million tonnes at 1.07% Li₂O.
The company has also engaged SLR Consulting and Pathway Group to help progress permitting, strengthen government engagement and assess non-dilutive funding pathways as it works to advance the project.
On the corporate front, CRR completed a A$1.75 million capital raise during the quarter at A$0.010 per share, with investors also receiving 1 option for every 4 shares subscribed.
Board and management participation totalled A$250,000.
Overall, the company made progress across its Canadian lithium asset, New Zealand gold and critical minerals portfolio, New South Wales exploration projects and battery evaluation work.
New Zealand portfolio gains momentum
In New Zealand, first-pass reverse circulation drilling at the Cap Burn project has confirmed an orogenic gold system, with results including 1 metre at 1.29 g/t gold within 7 metres at 0.37 g/t gold in hole CBRC017 and 16 metres at 0.22 g/t gold in CBRC021.
The mineralisation sits within the TZ4 schist unit and is consistent with the Rise and Shine model, while the down-plunge target remains untested.
The company also completed the transfer of the remaining five prospecting permit interests to its subsidiary Goldfire Resources Ltd, consolidating a 1,694 square kilometre portfolio prospective for gold, antimony and tungsten across the Otago and Reefton regions.
Field work has now started at Lammerlaw, while work at Croesus is due to begin in late April 2026, targeting gold grades of up to 17 g/t and tungsten grades of up to 42.6% WO₃.
Halls Peak confirms prospectivity
At the Halls Peak Base Metals Project in New South Wales, petrographic analysis at Amoco confirmed a late-stage orogenic gold-antimony-silver lode system analogous to Larvotto Resources’ Hillgrove deposit.
Surface sampling returned values of up to 17.9 g/t gold, 0.7% antimony and 53.2 g/t silver, with follow-up drill permitting now underway.
At Gibsons, the company highlighted an inferred JORC 2012 resource of 840,000 tonnes grading 3.7% zinc, 1.5% lead, 0.44% copper and 30 g/t silver. The asset also hosts standout historical silver intercepts of 3,780 g/t, 1,900 g/t and 1,750 g/t silver and remains open along strike and at depth.
Meanwhile, land access discussions are continuing at Mayview, where the company is working with landowners near Larvotto’s Hillgrove Antimony-Gold Project ahead of a planned low-impact soil geochemistry survey.
Battery technology program delivers early results
Critical Resources also reported progress from its solid-state lithium-ion battery technology program, where it has established what it describes as a world-class research platform.
During the quarter, the company was accepted into the US National Science Foundation-supported Center for Electrochemical Processes and Systems, whose partners include Honda, Mercedes-Benz and Nissan. It also appointed CEPS director and battery inventor Dr Alevtina Smirnova as technical advisor.
The company said solvent-free deposition had been confirmed to produce functional LFP cathodes with controllable electrochemical performance, validating its dry spray deposition cathode approach.
It also reported stable performance from its Amorphous Solid-State Electrolyte over 1,200 hours at room temperature, with ionic conductivity of 3.2 mS cm⁻¹, materially reducing interface failure risk.