The All Ordinaries Index (ASX: XAO) is in the red today, down 0.6% in afternoon trade.

But these two ASX lithium shares are marching higher after reporting promising exploration and production news.

Here's what the lithium stocks announced.

Major new lithium target

The Zenith Minerals Ltd (ASX: ZNC) share price is up 2.2% at the time of writing after the ASX lithium share reported on "a major" new lithium geochemical target at its Split Rocks Lithium Project, located in Western Australia.

Split Rocks is being explored as part of the Zenith's JV with EV Metals Group.

Zenith said its auger soil geochemical sampling had outlined a lithium target (Cielo) that's nine kilometres long and two kilometres wide. The miner reported a peak auger soil value of 117 parts per million (ppm) of lithium.

The target, which has not been drill tested before, is located in proximity to several proven significant lithium deposits, including the Mt Holland Lithium Deposit.

Commenting on the progress helping boost the ASX lithium share today, executive chair David Ledger said:

We are delighted to announce a major new lithium target at Split Rocks which has come about through 12 months of hard work from our soil geochemical teams. I look forward to providing further updates on this exciting new drill target – Cielo – and the additional new lithium anomalies generated in 2022.

Which brings us to…

ASX lithium share gains on high-grade spodumene production

The Critical Resources Ltd (ASX: CRR) share price is up 3.6% at the time of writing, having posted gains of more than 10% in early morning trading.

Investor interest in the ASX lithium share was spurred by the company's announcement that its Mavis Lake Lithium project, located in Ontario, Canada, has produced high-grade, low-impurity, coarse spodumene concentrate (Li2O).

Using Heavy Liquid and Magnetic Separation processes, the concentrate results delivered up to 6.42% Li2O.

The company noted that impurity levels were "extremely low" at 0.37% Fe2O3.

Commenting on those results, Critical Resources managing director Alex Cheeseman said:

Metallurgical test work is a key step in advancing Mavis Lake along the development pathway. The results show that the high-grade mineralisation at Mavis Lake, readily converts to high-grade, low impurity concentrate.

Concentrate with this type of specification, commands a premium in the market. This has been achieved through a very simple flowsheet that has the potential to enhance project development and delivery opportunities by being low impact, low risk and low cost.

Both ASX lithium shares will update the market regarding any further progress.

The post 2 ASX lithium shares marching higher on promising news appeared first on The Motley Fool Australia.

The Critical Resources Ltd (ASX: CRR) share price is higher on Wednesday following the company's latest drilling results.

At the time of writing, the base metals and lithium exploration company's shares are up 4.35% to 7.2 cents apiece.

Critical Resources encounters visual spodumene

Investors are bidding up the Critical Resources share price after the company revealed further thick, high-grade intercepts at the Mavis Lake lithium project in Canada.

According to its announcement, Critical Resources advised assay results confirmed exceptionally high-grade lithium oxide.

Management highlighted the drill hole results, which included up to 3.36% of Li2O (lithium oxide) within the main zone of Mavis Lake.

So far, Critical Resources has now drilled around 11,680 metres in its 2022 campaign.

This is expected to reach up to 15,000 meters later this year.

The company is undergoing initial discussions with consultants to perform metallurgical test work as well as resource modelling.

The assay results of two recently drilled holes are expected to be received sometime in the middle of next month.

Critical Resources non-executive director Alex Cheeseman commented:

To follow our last results with another set of such high-grade assays is an excellent outcome for the Company, and further builds our confidence in delineating a JORC compliant resource in the near term.

We believe the last few rounds of assay results have been the some of the highest grades released by an ASX listed lithium company so far in 2022, this sets us up well to continue advancing the project and transition Critical Resources into a potential lithium project developer.

About the Critical Resources share price

Since this time last year, the Critical Resources share price has accelerated by more than 90%.

The company's shares hit a 52-week high of 14 cents in January, before losing ground in the months after.

Based on today's price, Critical Resources commands a market capitalisation of approximately $108 million.

The post Critical Resources share price lifts on 'some of the highest grades released by an ASX listed lithium company' appeared first on The Motley Fool Australia.

Four ASX shares that have avoided the selloff are listed below. Here's why they are charging higher:

Computershare Limited (ASX: CPU)

The Computershare share price is up 3% to $25.68. This is despite there being no news out of the stock transfer and mortgage services company. However, given how it is positively leveraged to rising interest rates, investors may be snapping up shares on the belief that rates will go higher than initially thought.

Critical Resources Ltd (ASX: CRR)

The Critical Resources share price is up a further 5% to 8 cents. This lithium explorer's shares have been on fire this week thanks to the release of a positive update on the 100% owned Mavis Lake Lithium Project. According to the release, assay results have returned the highest grade lithium results in the company's history.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up over 2% to $1.19. This morning the business bank successfully priced its inaugural public senior unsecured benchmark bond issuance. Judo has issued a three-year fixed rate note priced at 265 basis points over the three-year swap rate. Management notes that the senior unsecured transaction represents another important milestone against the execution of Judo's comprehensive funding strategy.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is up 2% to $1.68. This follows news that the fund manager is extending its share buyback for up to 10% of its issued share capital for another 12 months. The fund manager intends to buy shares should its board determine that the Platinum share price is trading at a significant discount to its underlying value.

The post Why Computershare, Critical Resources, Judo Capital, and Platinum shares are charging higher appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is up 0.89% Tuesday, but three ASX mining shares are lifting much higher.

Critical Resources Ltd (ASX: CRR), Rafaella Resources Ltd (ASX: RFR), and Recharge Metals Ltd (ASX: REC) shares are all soaring today.

So why are these ASX mineral explorer shares having such a great day today?

Critical Resources

The Critical Resources share price is surging 34% at the time of writing. The lithium explorer provided an update on the Mavis Lake Lithium Project in Ontario, Canada. Assay results delivered "the highest grade lithium results" in the project's history. The company said the results confirmed "thick, high-grade intercepts" with up to 4.32% lithium oxide. Commenting on the news, chairman Robert Martin said:

To receive such exceptional assays results and for them to contain the company's highest
grading results of lithium mineralization ever to be intersected at Mavis Lake is absolutely
outstanding.

Rafaella Resources

This ASX mining share is soaring nearly 37% today. It comes amid news Rafaella will acquire the Horden Lake battery metals project in Quebec, Canada for C$4 million (AU$4.485). The company has secured financing for $2 million and other "significant" late-stage discussions are continuing around funding. Rafaella has paid C$400,000 already from existing cash.

Commenting on the news, managing director Steven Turner said:

The acquisition of the Horden Lake deposit will be, once completed, truly and immediately transformative for the company.

Recharge Metals

The Recharge Metals share price also soared 20% in earlier trade before pulling back. The company's share price is currently rising nearly 3%. Recharge announced "encouraging" results from drilling at the Brandy Hill South project in Western Australia. Drilling intercepted with broad zones of nickel and cobalt mineralisation, along with silver and multiple intercepts of copper.

Commenting on the results, managing director Brett Wallace said:

We are very excited to report not only multiple zones of copper mineralisation and broad
zones of silver intercepts, but thick, shallow intercepts of nickel and cobalt mineralisation from
the two remaining diamond holes.

The post 3 ASX mining shares leaping more than 20% on battery minerals news appeared first on The Motley Fool Australia.

The Critical Resources Ltd (ASX: CRR) share price is again rebounding higher following the company's latest update.

At the time of writing, the base metals and lithium exploration company's shares are surging 6.25% to 8.5 cents.

It's worth noting that this means Critical Resources shares are now up more than 23% in the past week.

Critical Resources stumbles upon further visual spodumene

Investors are bidding up the Critical Resources share price after the company encountered more visual spodumene at its Mavis Lake Lithium Project.

In its statement, Critical Resources advised it has discovered a further 17.5 metres of visual spodumene in two drill holes.

Below are the following results:

Hole 14

• 17.5 metres of approximately 18% silvery-white, fine to large spodumene laths hosted from 143.25 to 160.75 metres of pegmatite

Hole 15

• 9.7 metres of approximately 5% white-grey, fine to large spodumene laths hosted from 129.1 to 138.8 metres of pegmatite

Critical Resources noted that 14 out of 15 holes have intersected spodumene-bearing pegmatite mineralisation.

Following the current success of its 5,000-metre drill program, work has commenced to extend drilling to 10,000 metres. This includes 28 new targets which have been identified, including 11 high priority targets for exploration activities.

Samples and core from the above completed drill holes have been sent for analysis and are expected in due course.

Critical Resources managing director, Alex Biggs commented:

It is extremely pleasing to see further significant intercepts along strike. These results follow on from our recent 23.1m interception in hole 13 and continues to re-enforce the potential prospectively at Mavis Lake.

We are increasingly excited with what the rest of the drill program will uncover, and we look forward to updating our shareholders as this drill program continues.

Critical Resources share price snapshot

Over the past 12 months, the Critical Resources share price has soared by more than 250% in value.

The company's shares hit a 52-week high of 14 cents in January, before losing ground in the following months.

Based on valuation grounds, Critical Resources presides a market capitalisation of around $119.01 million.

The post Critical Resources share price jumps 6% on 'further significant' lithium find appeared first on The Motley Fool Australia.

The Critical Resources Ltd (ASX: CRR) share price is soaring higher on Tuesday following the company's latest drilling results.

At the time of writing, the base metals and lithium exploration company's shares are up 12.33% to 8.2 cents.

Critical Resources encounters visual spodumene

Investors are keen to get a hold of Critical Resources shares after the company revealed high-grade visual estimates.

According to this morning's company announcement, Critical Resources advised it has again encountered visual spodumene at the Mavis Lake lithium project.

Four holes were drilled, targeting fine to large spodumene laths hosted from the Pegmatite 6 Prospect.

As such, the most prominent result, Hole MF22-72 (Hole 13) represented the thickest and most mineralised zone.

The key highlight included 23.1 metres of visually high, up to 60%, white-silvery green, fine to medium spodumene laths. This hosted approximately 32% spodumene mineralisation throughout the drill hole.

Critical Resources noted that this intersection continues to illustrate the significance of the down-dip potential within the pegmatite 6 zone.

The other three drill holes intersected up to 27% of spodumene laths within a larger interval of the spodumene-bearing pegmatite.

Due to the success of the company's inaugural 5,000m drill program, exploration works on 28 new targets have been identified.

Work has commenced extending drilling to a roughly 10,000-metre program.

Samples and core from the above completed drill holes have been sent for analysis and are expected in due course.

Critical Resources managing director Alex Biggs commented:

Hole 13 represents the widest intersection we have seen so far in our drill campaign. The fact that this intersection is at depth, further along strike and importantly a step out hole is significant for the Project and very exciting.

The high-grade visual estimates are particularly intriguing and we're seeing the fundamentals of Mavis Lake improving all the time. Working towards a JORC compliant Resource remains the key focus of the Company. We look forward to updating the market on further results as we receive them.

About the Critical Resources share price

Since this time last year, the Critical Resources share price has accelerated by more than 480%.

The company's shares hit a 52-week high of 14 cents in January, before losing ground in the months after.

Based on today's price, Critical Resources commands a market capitalisation of roughly $119 million.

The post Critical Resources share price leaps 12% on latest lithium project news appeared first on The Motley Fool Australia.

Key points

• The Critical Resources share price has plunged 10% lower to trade at 9.9 cents this morning
• Its dip follows the release of its quarterly activities and cash flow report
• Over the quarter ended 31 December, the company underwent acquisition, exploration, and capital raising activities

The Critical Resources Ltd (ASX: CRR) share price is suffering this morning after the company published its quarterly activities and cash flow report. Unfortunately, the market is reacting poorly to its release.

At the time of writing, the Critical Resources share price is 9.9 cents, 10% lower than its previous close.

Let's take a look at what the base metal and lithium explorer and developer got up to during the quarter just been.

Critical Resources share price tumbles 10% on quarterly report

The quarter ended 31 December was a big one for Critical Resources, and while the company's quarterly report is seemingly positive, the market is bidding the company's share price down today.

During the period, the company began drilling at its Halls Peak base metal project in New South Wales. There, it uncovered massive sulphide mineralisation and high-grade zinc, copper, and silver assays.

It has now applied for another 839 square kilometres of tenements around the project's tenements.

The company also paid a non-refundable fee of $200,000 for 90 days of exclusive acquisition talks regarding the Mavis Lake lithium project in Ontario, Canada. It finalised the purchase of the project after the quarter's end.

Finally, at its Sohar Copper Project – located in Oman – Critical Resources continued its talks with the Oman government.

According to the company, it was asked to pay ground fees it considers "onerous and unreasonable" for the project's Block 4 licence earlier in 2021. It plans to update the market on the outcome of talks in due course.

Additionally, the company underwent a $4 million placement last quarter. Its shares were offered at 2.9 cents apiece as part of the capital raise, with the resulting funds going towards the Mavis Project's acquisition and exploration at Halls Peak.

As of 31 December, the company had $4.75 million of cash in the bank.

The Critical Resources share price's latest tumble follows yesterday's 8.3% slump. This came on the same day the company advised it had staked 700 hectares of additional claims around its Graphic Lake project, located about 180km from its Mavis Lake lithium project in Canada. Its shares also fell 14.2% on Friday.

However, the company's stock is still swapping hands for around 150% more than it was at the end of 2021.

The post The Critical Resources (ASX:CRR) share price is diving 10% today. Here's why appeared first on The Motley Fool Australia.

Key points

• One ASX lithium share has skyrocketed today
• Critical Resources Ltd has acquired a new lithium project
• Lithium is in high global demand due to its use in electric vehicles

The Critical Resources Ltd (ASX: CRR) share price surged today amid news on the acquisition of a lithium project.

Shares in the company finished 20.88% higher, closing the day at 11 cents apiece after reaching an intraday high of 12 cents each.

Let's take a look at what this lithium miner is exploring.

New lithium project

Investors are reacting to news Critical Resources will take over the Graphic Lake lithium project in Ontario, Canada. This is subject to Canadian Investment Review Board approval.

The news today follows the company acquiring the Mavis Lake lithium project, just 180km away. The company said "synergies" between the two projects shows the company is serious about the Canadian lithium sector.

Managing director Alex Biggs said:

The company is committed to making quality acquisitions and expanding its access to lithium raw materials to provide the Company's shareholders with exposure across a range of battery and critical minerals.

An early-stage project such as Graphic Lake allows us to add significant value from the ground floor, in a commodity that we anticipate will be in high demand for the foreseeable future.

The acquisition will involve an $80,000 cash payment, $120,000 worth of fully paid ordinary shares in Critical Resources Ltd, and a 1.5% net smelter royalty capped at $500,000 Canadian dollars.

The company sees the project delivering both lithium and rare earth elements. These materials are essential components in electric vehicles, which are currently in high global demand.

Share price snap shot

The Critical Resources share price has exploded 358% in the past year and 182% in the past month.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned roughly 11% in the past year.

The company has a market capitalisation of nearly $144 million based on the current share price.

The post Why has this one ASX lithium share soared 21% today? appeared first on The Motley Fool Australia.

This week is proving to be a good one for the Critical Resources Ltd (ASX: CRR) share price. The company has released more news to the market this morning, boosting its stock once more.

At the time of writing, Critical Resources' stock is trading at 5.3 cents, 10.4% higher than its previous close. That brings the company's gains this week to 39%.

Let's take a look at the news that's been driving the miner's stock on the ASX lately.

Critical Resources share price rockets higher on Friday

The Critical Resources share price is in the green again today after the company announced a drilling program at its Halls Peak base metal project in New South Wales has restarted.

The company is back to work at the project's Gibson prospect, where it plans to drill around 2,500 metres. Of that, around 650 metres have already been completed.

Previously, visual massive sulphide intervals and disseminated sulphide mineralisation have been intersected at the prospect.

Critical Resources managing director Alex Biggs commented on the restart, saying:

The drill campaign has so far provided excellent results and we continue to gain an increased understanding of the deposit. We look forward to completing the outstanding drill holes and updating the market with further results in due course.

Today's news appears to have rounded off a strong week's performance.

The Critical Resources share price was boosted 19.5% on Wednesday after the company completed the acquisition of a Canadian lithium project.

The Mavis Lake lithium project cost the company $3 million, which it bought with 50% cash and 50% scrip. The purchase also involves up to $3 million of milestone considerations.

Additionally, Critical Resources welcomed Alex Cheeseman to its board this week. Cheeseman has worked in leadership and management roles for more than 20 years and spent the last 10 years in the lithium and iron ore sector.

Today's gains included, the Critical Resources share price is 116% higher than it was this time last year.

The post Why has the Critical Resources (ASX:CRR) share price surged 39% this week? appeared first on The Motley Fool Australia.

The Critical Resources Ltd (ASX: CRR) share price is exploding higher on Wednesday following a completed acquisition by the company.

At the time of writing, the emerging copper and gold development company's shares are up 19.51% to 4.9 cents. This means that over the past week, its shares have now risen by more than 30%.

Critical Resources formally acquires lithium project

Investors are fighting to get a hold of the Critical Resources share price after the company announced its latest update.

According to this morning's release, Critical Resources advised it has completed the acquisition of the Mavis Lake lithium project.

Located in Ontario, Canada, the project lies within a well-established lithium province close to highway and railway transportation arteries. Previous drilling results at the site have yielded positive assays which present significant exploration potential.

The region is littered with other projects which are also situated within the vicinity of Marvis Lake.

The key terms of the transaction consist of a $1.5 million cash payment split evenly to Essential Metals Ltd (ASX: ESS) and Canadian-listed International Lithium Corporation. In addition, a further $1.5 million payment will be made in the form of 68 million Critical Resources shares. These will be issued at a price of 2.2 cents apiece, again evenly split between Essential Metals and International Lithium.

Should certain milestone targets be reached, up to $3 million will be paid in cash depending on the definition of the Mineral Resources estimate. In the event that the relevant milestones are not met within 5 years, the obligation to reward the vendors will expire.

Critical Resources managing director, Alex Biggs commented:

We are very excited to complete the acquisition of the Mavis Lake lithium project.

We have no doubt that the Project will add significant value to the business moving forward. Our strategy in 2022 is to begin exploration drilling as soon as possible once permitting is completed. We have multiple targets to explore with a view to achieving, over time, the milestones set out by the vendors of 5.0 million and 10.0 million tonnes.

About the Critical Resources share price

Since this time last year, the Critical Resources share price has accelerated to achieve gains of almost 110%. The company's shares hit a 52-week high of 5.4 cents in November, before treading lower in the following month.

Critical Resources commands a market capitalisation of roughly $50.29 million and has approximately 1.09 billion shares on issue.

The post Here's why the Critical Resources (ASX:CRR) share price is rocketing 20% appeared first on The Motley Fool Australia.

Below, we take a look at the junior explorer's early drill results that look to be spurring ASX investor interest.

What drill results were announced?

The Critical Resources share price is surging after the explorer reported promising early drill results at its 100% owned Gibsons prospect. The prospect is part of the Halls Peak project, located in New South Wales.

This is the first time that Halls Peak, which Critical Resources labels "a prime exploration area" is being surveyed using modern airborne geophysical exploration techniques.

In this morning's release, the company reported that the first drill hole of its 2,500 metres diamond drilling exploration program intersected shallow massive sulphide mineralisation in the first 47 metres drilled of a planned 140 metre hole.

The series of stacked massive sulphide lens represent "exhalative accumulations of fluids" containing zinc, lead, copper, silver and gold.

Commenting on the results, Critical Resources managing director Alex Biggs said:

We couldn't ask for a better start to our drilling campaign at Gibsons after intersecting massive sulphide mineralisation in our first drill hole. We believe that what we see here is indicative of the larger Halls Peak system and we will continue drilling with a view to define the scale and potential of this asset… We look forward to keeping the market updated with more results in the near future.

Drilling at the prospect is ongoing, and the miner will send cores to the ALS laboratory in Brisbane for assaying once the first hole is completed.

Critical Resources share price snapshot

The Critical Resources share price is up 145% in 2021, which compares to a gain of 9% posted by the All Ordinaries Index (ASX: XAO).

Over the past month, Critical Resources shares are up 14%.

The post Here's why the Critical Resources (ASX:CRR) share price is surging 16% today appeared first on The Motley Fool Australia.

Below, we take a look at the asset sale announcement from the ASX lithium and gold explorer that looks to be driving investor interest.

What asset sale was reported?

The Essential Metals share price is rocketing after the company reported it will divest its 51% interest in the Mavis Lake Lithium Project, located in Canada.

Essential Metals' Joint Venture partner International Lithium Corporation, is also divesting its interest, giving 100% of the project to Critical Resources Ltd (ASX: CRR) under an Option Agreement. The Critical Resources share price is up 12.90% at time of writing.

According to the release, the divestment will realise $1.6 million in cash and shares, along with $1.5 million in cash that's linked to certain milestones for Essential.

Critical Resources will pay $175,000 for the right to acquire 100% of the Mavis Lake Lithium Project. If it elects to go through with the deal, it will pay $1.5 million in cash and 68 million in Critical Resources shares, valued at 2.2 cents per share. That's significantly below the current 3.6 cents per share.

Essential Metals and International Lithium Corporation will share the proceeds equally.

Additionally, the Essential Metals share price could be getting a lift from the report that milestone payments totalling $3 million may be received subject to the definition of a lithium resource at the project.

Commenting on the divestment, Essential Metals' managing director, Tim Spencer said:

The strong interest in lithium has allowed Essential and ILC to monetize an early-stage, non-core asset on favourable terms. Retaining upside exposure via a shareholding in Critical Resources means we will benefit from any success the Critical Resources team has in advancing Mavis Lake.

We will continue to focus our efforts on the company's first-class West Australian lithium and gold projects.

Spencer said rapidly advancing the company's Pioneer Dome Lithium Project in Western Australia's Eastern Goldfields was the highest priority.

Essential Metals share price snapshot

The Essential Metals share price is up an impressive 150% year-to-date. By comparison the All Ordinaries Index (ASX: XAO) has gained 12% so far in 2021.

Over the past month, Essential Metals shares have lost 9%.

The post Why the Essential Metals (ASX:ESS) share price is surging 8% today appeared first on The Motley Fool Australia.