Critical Resources

Quarterly Activities Report and 5B Cashflow

Lithium exploration and project development company Critical Resources Limited ASX:CRR (“Critical Resources” or “the Company”) is pleased to report on its activities for the quarter ended 30 June 2023 (“the Quarter”). The focus for the quarter remained on the advancement of the Company’s flagship asset, the Mavis Lake Lithium Project.


Highlights

  • Maiden JORC Code 2012 compliant Mineral Resource Estimate (MRE) defined for the Mavis Lake Lithium Project – 8.0Mt at 1.07% Li2O
  • Significant new spodumene intercepts, adding tonnage for a future Mineral Resource upgrade
  • Commencement of spring exploration program across the 8km pegmatite trend encompassing the Gullwing and Tot prospects
  • Exceptional results from metallurgical test work – up to 87% Lithium recovery from heavy liquid separation and flotation, producing a high-grade, low impurity concentrate
  • Agreement in Principle signed and ceremony held with Wabigoon Lake Ojibway Nation in support of continued project progression
  • Appointment of lithium industry expert, Mr Anthony Tse as strategic advisor to the board.
  • $10.2M capital raise (completed subsequent to the Quarter end) allows for continued focus on resource growth and project development, with on-going drilling focused on delivery of a future Mineral Resource upgrade
Operational Activities

Mavis Lake Lithium Project (100%) – Ontario, Canada

The Company continued to progress activities associated with the development of Mavis Lake, achieving significant milestones during the Quarter. These included announcement of a maiden JORC Code 2012 compliant Inferred Mineral Resource Estimate (MRE) for Mavis Lake – an essential step in Critical Resources’ transition from explorer to project developer. Other highlights included the release of exceptional assay results from drilling, release of metallurgical test results, commencement of exploration at the nearby Gullwing and Tot prospects and announcement of a key community partnership with Wabigoon Lake Ojibway Nation (“WLON”).

Maiden Mineral Resource Estimate1. In May, the Company delivered its maiden JORC Code 2012 compliant Inferred Mineral Resource Estimate (MRE) for Mavis Lake. Based on drilling completed up to the end of March 2023, and only covering approximately 2% of the project area.

The 8.0Mt grading 1.07% Li2O MRE is the culmination of an intense 11-month exploration campaign. The achievement sees Critical Resources become one of only two ASX-listed companies with a JORC Code 2012 compliant Lithium Mineral Resource in Ontario, Canada. The defined resource, sets the Company apart and underpins efforts to transition from explorer to project developer.


Click here for the full ASX Release

This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

CRR:AU
The Conversation (0)
Electric vehicle charging with blue background.

Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox

“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.

He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.

Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.

Keep reading...Show less
Glowing battery with green zigzag on a futuristic circuit board background.

Fastmarkets’ 2025 Lithium Conference to Tackle EV Growth, Battery Supply Chains and Market Outlook

Fastmarkets is set to host its 17th Lithium Supply and Battery Raw Materials Conference.

Scheduled to run from June 23 to 26 in Las Vegas, Nevada, the event will bring together global industry leaders to explore key topics shaping the future of the battery supply chain.

Discussions will cover lithium extraction technologies, including direct lithium extraction, as well as advances in processing, refining and recycling. More broadly, market outlooks, pricing trends and investment strategies will be analyzed alongside evolving ESG standards, policy impacts and risk management approaches.

Keep reading...Show less
Gina Rinehart, executive chair of Hancock Prospecting, stands in front of cherry blossom trees.

Inside Billionaire Gina Rinehart's Key Mining Investments

Australian billionaire Gina Rinehart has become a formidable force in the global mining industry.

After taking the helm of her father’s iron ore firm Hancock Prospecting in 1993, she embarked upon a diversification strategy that has vastly expanded her resource empire. Now Australia’s richest person, Rinehart has investments in many of the world’s most strategic commodities such as lithium, rare earths, copper, potash and natural gas.

One of those investments is Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), which even in a low price environment for rare earths managed to secure nearly AU$1.5 billion in debt financing in mid-2024 to advance its Nolans project in the Northern Territory. With a 10 percent equity stake, Rinehart’s Hancock Prospecting is Arafura's largest shareholder.

Keep reading...Show less
Lithium Africa CEO Tyron Breytenbach.

Lithium Africa CEO Makes Case for Lithium Investing Amid Bear Market

The CEO of Lithium Africa is making a case for investing in lithium during the current bear market, saying recent moves by major players such as Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) indicate confidence in the market's longer-term potential.

“(Rio Tinto) is the second biggest miner of commodities on the planet. And late last year, they did the Arcadium Lithium transaction, which is the second largest transaction in corporate history, and they've picked lithium," Tyron Breytenbach said during an interview with the Investing News Network.

"Shortly after that, they followed on with a big, multibillion-dollar investment in Chile. Again, the commodity they picked was lithium."

Keep reading...Show less
Truck with drill rig at sunset in a dry, grassy landscape.

Rock Bottom: Strategic Window for Ground-level Lithium Investment in 2025

When lithium prices hit bottom, savvy investors know that’s exactly where the next big discovery begins — literally. Beneath the surface of global markets and remote exploration grounds, new opportunities are forming in the wake of a sharp price reset and renewed geopolitical urgency.

Macroeconomic and policy shifts in 2025 are creating ideal conditions for those willing to look past the headlines. While volatility in lithium prices has tempered short-term sentiment, the underlying demand trajectory remains strong. With governments reshaping supply chains to reduce reliance on China and accelerate the energy transition, lithium is emerging not only as a critical resource, but as a strategic investment theme with long-term upside.

For investors, this reset isn’t a retreat; it’s a rare chance to get in early, at ground level.

Keep reading...Show less

Latest Press Releases

Related News

×