Critical Resources Limited (ASX:CRR) has announced it has entered into two binding agreements to acquire a significant gold-antimony portfolio in New Zealand. Critical Resources is an Australian mining company focused on the exploration and development of metals needed for a sustainable future. The acquisitions include 100% ownership of the Cap Burn exploration permit and 90% ownership of four prospecting permit applications across the Otago and Reefton regions in the South Island. These acquisitions mark a strategic move into an established gold-producing region with pro-investment ‘Fast-Track’ reforms.
The acquired portfolio includes the advanced drill-ready Cap Burn project, located approximately 11km along strike from OceanaGold’s Macraes Gold Operations, a mine with +10Moz of gold. The Cap Burn project is drill-ready with land access in place, enabling immediate exploration upon completion of the transaction. Previous drilling at Cap Burn targeted a surface arsenic anomaly, confirming gold mineralisation. The portfolio also includes four prospecting permit applications: Silver Peaks, Lammerlaw, Tokomairiro, and Croesus, all targeted due to historical gold and antimony mining activities and high-grade surface samples.
Mr. Tim Wither, Critical Resources’ Chief Executive Officer, expressed excitement about the New Zealand acquisitions, highlighting their geological upside and alignment with the company’s gold and antimony focus. He noted that the strategic portfolio creation offers a low-cost, high-impact growth lever for shareholders. The Company has partnered with a New Zealand-based geological group, with links to the early discovery and resource growth period of Santana Mineral’s Rise and Shine deposit, to fast-track the exploration programs across the New Zealand portfolio.
The company plans to systematically drill test the Cap Burn target and undertake early low-cost exploration programs across the other permits. Critical Resources is confident that these acquisitions will diversify its project portfolio, providing immediate exploration opportunities and long-term growth potential. The transactions are expected to be completed in September 2025.
