Calgary, April 16, 2024 - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report that it is achieving positive results from ore sorting at the Bull River Mine ("BRM") project near Cranbrook, BC. The Company is using a Steinert KSS 100 X-Ray Transmissive Ore Sorter ("Ore Sorter") to pre-concentrate coarse mineralized material from a large surface stockpile at the BRM prior to transporting to New Afton for processing under an Ore Purchase Agreement ("OPA") (see press release dated October 5, 2023, on Sedar+).
The Company previously announced the successful commissioning of the Ore Sorter (see press release dated March 18, 2024, on Sedar+). During the month of February 2024 and prior to the imposition of road restrictions on February 24th, 2024, the Company trucked 897 wet metric tonnes ("wmt") of mineralized material to New Afton. This run of mine material from the surface stockpile graded 1.39% copper, 0.29 g/t gold and 11 g/t silver and is representative of the insitu grade of the surface stockpile.
In late March and early April 2024, the Company produced 146 wmt of high-grade mineralized material using the ore sorter and trucked this material to New Afton. This sorted material graded 3.53% copper, 0.60 g/t gold and 27.58 g/t silver. This represents a 250% improvement in copper grade using ore sorting. Readers are cautioned that while ore sorting appears effective, the Company may not see similar results in future.
The Company expects road restrictions will be removed in the next week to 10 days after which it intends to increase weekly trucking to New Afton.
Ian Berzins, President and CEO commented, "We are extremely pleased with the initial results of ore sorting. A 250% increase in copper grade exceeded our expectations. With the ore sorter now commissioned, we plan to focus on optimization of quality and throughput."
Qualified person
CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Gary Low P.Geo., who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 34% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205609
