Drill Results Routine +

Critical One Energy Extends Lower Antimony Zone and Identifies Gold-Zinc Mineralization at Howells Lake

High-grade antimony discovery fueled the rally, but the project remains a drill hole chasing a history of broken dreams.

By The Northwire Desk — AI Analysis Jun 16, 2026 · 17:01 CRTL · 1.39 Critical One Energy Inc.

Executive Summary

The June 16 release reports new assay results from drill hole HWL‑2026‑006 at the Howells Lake Antimony‑Gold Project, extending the lower antimony zone and identifying associated gold‑zinc mineralization.
A 15.3‑metre interval grading 1.76% Sb from 114.7 m to 130 m down‑hole was intercepted; within this, an 8‑metre high‑grade core returned 42.2% Sb, including 4 m at 70.2% Sb and 2 m at 76.6% Sb.
Separate gold‑zinc intersections: 3 m at 1.17 g/t Au and 0.43% Zn (153.7–156.7 m) and 6 m at 0.37 g/t Au and 0.51% Zn (160–166 m).
The antimony mineralized envelope in Hole 6 now spans from 79 m to 130 m down‑hole.
18 holes (~4,000 m) have been completed, and a funded budget targeting 20,000 m of drilling through December 2026 is in place.
Management states the results “provide a clearer path to testing expansion beyond the historical footprint.”

Material Impact

The release essentially adds more metres of antimony mineralization at depth below the previously reported high‑grade intercept (May 15) and introduces polymetallic (Au‑Zn) potential.
The headline 15.3 m at 1.76% Sb is modest compared to the May discovery of 4 m at 70.2% Sb; the high‑grade sub‑interval within that zone largely repeats the earlier bonanza‑grade figures, confirming continuity.
The gold‑zinc grades are low (peak 1.17 g/t Au) and do not materially change the project’s value proposition for now.
The funded drill budget of 20,000 m was largely expected after recent financings and the MOU; its formalization is positive but not surprising.
Given the stock already priced in a major discovery following May’s results (peak $1.67), this follow‑up confirmation is unlikely to cause a second major re‑rating.

CRTL · Price

Company Overview

Critical One Energy (formerly Madison Metals) is a junior exploration company focused on antimony and gold in Ontario’s Thunder Bay Mining District, with legacy uranium assets in Namibia now fully restored after a terminated sale.
The flagship Howells Lake project covers ~25,000 ha with a 30 km strike on a greenstone belt, hosting a historical non‑compliant resource of 1.7 Mt at 1.4% Sb and associated gold.
The company is pre‑revenue, pre‑production, and entirely dependent on equity financing to fund exploration.

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