Critical Resources (ASX:CRR) has announced $6.7M in funding for the Mavis Lake 2023 Drill Program has been secured at a significant premium.

Critical Resources says it will be raised utilising the ?flow-through shares? provisions under Canadian tax law, and placed at $0.08 per share which is a 45% premium to its last close price.

It also says the Program has been ongoing since April this year, with over 42 spodumene bearing pegmatite drill hole assays pending.

It also says applications for the block trade book build were scaled back, demonstrating the increasing interest in its Ontario-based lithium projects.