Critical Resources (ASX:CRR) confirms high grade tungsten results at Granite Creek

Critical Resources has reported final tungsten assay results from first pass mapping and sampling at the Granite Creek tungsten target within the Croesus Project near Barrytown on New Zealand’s South Island.

The program confirmed high grade scheelite mineralisation associated with quartz veining and greisen alteration within and adjacent to the Barrytown Granite.

The company reported that the results partially validate historical exploration and provide an advanced framework for focused drill target definition.

Subject to permit grant, access and environmental approvals, the company stated this provides a clear pathway towards initial drill testing.

Highlights

• Channel sample returned 0.41 m at 16.63% WO₃ across the true width of an in situ quartz scheelite vein.
• 9 of 25 samples returned between 0.67% and 16.63% WO₃, including 6 samples above 1% WO₃ and 3 samples above 2% WO₃.
• Multiple mineralised bedrock and float occurrences were identified across at least 600 m of the Granite Creek target area.
• The current program partially validated the historical dataset and provides an advanced framework for focused drill target definition.
• Planned work includes targeted geological mapping, additional channel sampling where required, integration of historical and modern datasets into a consolidated geological model, definition of priority drill targets and preparation of an exploration permit application.

Channel sample A1419 returned 0.41 m at 16.63% WO₃ from an in situ quartz scheelite vein, with the channel collected perpendicular to the vein and considered to represent the true width at the sample location.

A separate adjoining 0.20 m footwall sample returned 3,820 ppm W, indicating elevated tungsten extends into the altered wall rock immediately adjacent to the high grade vein.

Additional in situ results include 2.21% WO₃, 1.61% WO₃, 0.90% WO₃ and 0.67% WO₃, while float samples returned 8.01% WO₃, 1.85% WO₃, 1.41% WO₃ and 0.83% WO₃.

The company reported that modern sampling identified multiple mineralised bedrock and float occurrences over at least 600 m of the Granite Creek target area.

The announcement states that the distribution of results supports the interpretation of a broader quartz vein and greisen hosted tungsten system rather than a single isolated high grade occurrence, with high grade scheelite bearing float recorded in drainages on both flanks of the Barrytown Granite ridge.

Historical sampling at Little Granite Creek reportedly returned grades of up to 26.6% WO₃, with historical selective samples and float samples not representative of average grade, mineralised width or continuity.

The announcement states that Granite Creek has been the subject of historical geological mapping and sampling that identified quartz veins, greisen alteration zones and scheelite bearing occurrences associated with the Barrytown Granite.

The current program partially validated the historical interpretation by confirming 0.41 m at 16.63% WO₃ from a channel sample across an in situ quartz scheelite vein, multiple additional in situ samples returning between 0.67% and 2.21% WO₃, elevated tungsten within altered granite adjoining the high grade vein, and mineralised bedrock and float occurrences extending over at least 600 m.

The company reported that the combined historical and modern datasets substantially reduce the requirement for broad first pass exploration, with remaining work focused on confirming the geometry and continuity of priority veins, completing targeted channel sampling and defining targets for initial drill testing.

Critical Resources Managing Director Tim Wither said:

“This first pass sampling has validated key parts of a substantial historical dataset, letting us move directly to focused target confirmation and an exploration permit application, ahead of maiden drill testing.”

Tungsten is listed as a critical mineral by New Zealand, Australia, the United States and the European Union, while China accounts for approximately 80% of world tungsten mine production and a similar share of downstream processing.

Ammonium paratungstate was assessed at around US$3,000 to US$3,200/mtu in early June 2026, with the announcement referencing a Canaccord Genuity forecast that tungsten demand will grow 47% to 2035.

Planned work includes targeted geological and structural mapping of the principal quartz scheelite veins and greisen zones, additional channel sampling where required, integration of historical maps, sample locations and modern results into a consolidated geological model, definition of priority drill targets and preparation of an exploration permit application over the priority Granite Creek target area.

The company is targeting lodgement of an exploration permit application during the second half of 2026, with maiden drill testing to follow, subject to permit grant and the required access and environmental approvals.

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