Critical Resources (ASX:CRR) expands into New Zealand with strategic gold-antimony acquisition

Critical Resources Limited (ASX:CRR) has taken a significant step in broadening its exploration portfolio, securing a commanding land position in New Zealand’s Otago and Reefton regions.

The company has executed two binding agreements to acquire a 100 percent interest in the advanced Cap Burn exploration permit and a 90 percent interest across four additional prospecting permit applications, Silver Peaks, Lammerlaw, Tokomairiro, and Croesus.

Together, these projects span approximately 1,463 square kilometres and represent a low-cost, high-impact entry into an established but underexplored gold-antimony province.

To help investors better understand the strategic rationale, geological potential, and forward plan, Chief Executive Officer Tim Wither answers some key questions following the announcement.

Why has Critical Resources chosen to expand into New Zealand, and how does it fit with the company’s broader strategy?

Our expansion into New Zealand aligns strongly with our core focus on gold and antimony, particularly in Tier 1 jurisdictions with a stable operating environment and supportive regulatory framework.

The Otago and Reefton regions offer exactly that, geological fertility, a well-established mining history, and pro-investment policies.

The recent introduction of New Zealand’s “Fast-Track” reforms is designed to streamline permitting for strategic projects, which significantly enhances the attractiveness of early-stage exploration in the country.

By securing a 100 percent interest in the Cap Burn project and 90 percent interests in four large-scale prospecting permit applications, we are entering an established gold province that still has large areas yet to be systematically explored using modern techniques.

This initiative complements our Australian antimony-gold assets and is in line with our strategy to build a technically driven, diversified project portfolio across future-facing commodities.

“The transaction has been structured to minimise upfront costs while maximising long-term exploration leverage and control.”

What makes the Cap Burn project so compelling, particularly in comparison to other early-stage gold opportunities?

The Cap Burn project is situated in close proximity to one of New Zealand’s most prolific gold operations and lies within the same structural corridor.

Historical exploration at Cap Burn has already confirmed the presence of shear-hosted gold mineralisation, supported by a strong geochemical footprint that includes a one square kilometre arsenic-in-soil anomaly.

“Cap Burn stands out because it is drill-ready, underpinned by a supportive land access agreement, and is located just 11 kilometres northwest of OceanaGold’s +10 million ounce Macraes gold operation, on the same structural corridor.”

This existing footprint, combined with structural similarities to Santana Minerals’ Rise and Shine discovery, provides us with a clear geological model to test down-plunge extensions beneath these anomalies.

While the project has not yet been tested at depth, the revised model offers an opportunity to target high-grade zones that may have been overlooked in previous shallow drilling campaigns.

How do the other permits across the Otago and Reefton regions contribute to long-term shareholder value?

Silver Peaks, Lammerlaw, Tokomairiro, and Croesus collectively offer extensive coverage of underexplored but historically significant gold and antimony belts.

Historical mining in these areas yielded high-grade production, while more recent sampling has confirmed the presence of encouraging surface mineralisation.

Modern exploration techniques have yet to be applied across most of this tenure, which positions us to systematically test high-priority structural targets.

“These areas provide a pipeline of early-stage, high-potential assets that can be advanced through low-cost exploration techniques. From a shareholder perspective, the portfolio offers both near-term exploration catalysts and the potential to define multiple standalone projects, all secured through a capital-efficient acquisition structure.”

Importantly, several of these permits show signs of hosting multi-element systems, including tungsten at Croesus, which has returned float samples with extremely high grades.

The combination of gold, antimony, and tungsten mineralisation across structurally favourable terrains creates a compelling portfolio of targets with multi-commodity upside.

What are the next steps in terms of exploration across these New Zealand projects?

Following completion of the permit transfers, which we expect in September 2025, we will begin immediate exploration work at Cap Burn.

The project’s land access is already secured, and a high-priority drill target has been defined based on surface geochemistry and fault structures.

“The initial phase at Cap Burn will involve drilling down-plunge of the arsenic anomaly, targeting the interpreted continuation of mineralised structures beneath the previously drilled shallow zones.”

In parallel, surface exploration will commence across the broader prospecting portfolio.

This will include mapping, geochemical sampling, and structural interpretation, all guided by our experienced New Zealand-based geological team.

Their previous involvement in the early-stage exploration of the Rise and Shine deposit will be invaluable as we prioritise and refine targets across this large landholding.

A portfolio positioned for discovery

Critical Resources has secured a technically robust and strategically located portfolio in one of the Southern Hemisphere’s most prospective but underexplored gold and antimony provinces.

With the Cap Burn Project ready to drill and the broader portfolio offering multi-commodity upside across more than 1,460 square kilometres, the company is well placed to generate meaningful exploration news flow over the coming quarters.

The transaction structure provides low entry cost and staged expenditure, while maintaining full control during the early exploration phase.

Backed by a team with technical depth and the support of a local geological group with a proven track record in the region, Critical Resources is advancing with a clear plan and a disciplined approach.

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