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Canadian North Resources Inc. Reports Exceptional Operational and Financial Results for the Third Quarter Ended September 30, 202330.11.2023 | 14:00 Uhr | GlobeNewswire
Highlights:
TORONTO, Nov. 30, 2023 -- Canadian North Resources Inc. ("the Company", TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to report the operational and financial results for the third quarter ended September 30, 2023. "In Q3 2023, the Company has completed the planned 20,000-metre 2023 drilling program with 21,126 metres in 78 holes." Said Dr. Kaihui Yang, the President & CEO of the Company, "The assay results confirmed significant mineralized intersections in 67 of the 78 holes. The results in combination with previously released results for 2021-23, totalling 39,270 metres in 145 holes, have expanded laterally over 3,000 metres of the main mineralized horizon at our 100% owned Ferguson Lake nickel, copper, cobalt, palladium and platinum project ("the Ferguson Lake Project", Figure 1)". "We are adding the results of 145 new holes drilled in 2021-23 to the project database to update the current mineral resource model (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd. " filed by the Company to Sedar.com on July 13, 2022), and we expect the new resource model would increase substantial potential resources at the Ferguson Lake project." "We highly appreciate the strong supports from the shareholders and investors. During Q3, 2023, the Company raised $8,057,298 from the flowthrough financings to support its aggressive drilling and other exploration programs at the Ferguson Lake project. The Company also received $75,000 from the early exercise of warrants by our shareholders." "Subsequent to the end of the quarter, the Company has received $1,700,001 from the early exercise of warrants by the shareholder of the Company. " "In addition, the Company has also received $61,920 from the early exercise of options by our staff and consultants to date." Figure 1 Geological map showing the mineralized zones and the mineralized intercepts in selected drill holes completed in the summer drilling program at Ferguson Lake Project. • The Company engaged in the following activities in Quarter 3:
• For the quarter ended September 30, 2023, the Company reported a net loss of $1,725,246 or $0.02 per share. Subsequent to Quarter 3, the Company achieved the following:
For the quarter end financial statements and Management's Discussion and Analysis, please see the Company website at www.cnresources.com or on SEDAR. Qualified Person: The technical contents of this news release have been reviewed by Dr. Trevor Boyd, P.Geo., a qualified person as defined by Canadian National Instrument 43-101 standards. About Canadian North Resources Inc.: Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km2 of mining leases (96.9 km2) and surrounding exploration claims (156.9 km2) in the Kivalliq Region of Nunavut, Canada. The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd " filed by the Company to Sedar.com on July 13, 2022). Further information please visit the website at www.cnresources.com, or contact: Dr. Kaihui Yang, President and CEO Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free) Email: info@cnresources.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding the Company's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law. Dieser Artikel stammt von Rohstoff-Welt.de
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