Canadian Critical Minerals Generates USD$143,000 in Revenue from Bull River Mine
Canadian Critical Minerals Generates
USD$143,000 in Revenue from Bull River Mine
Calgary, Alberta--(Newsfile Corp. - August 14, 2024) - Canadian Critical Minerals Inc.
(TSXV: CCMI)
(OTCQB: RIINF) ("CCMI"
or the
"Company")
is pleased to report revenues for the Company from the
sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("
BRM
") project
near Cranbrook, BC.
During the month of July 2024, the Company trucked 550 wet metric tonnes
("
wmt
") of sorted mineralized material to New Afton and the Company received a provisional payment of
approximately USD$143,000 for the July 2024 shipments.
The mineralized material sent to New Afton
graded 3.73% Cu, 0.69 g/t Au and 31.0 g/t Ag.
During the month, the Company encountered lower grade material from the surface stockpile.
Although
more mineralized material was processed through the ore sorter compared to all previous months of
operation, less high-grade material was concentrated for shipment to New Afton. The stockpile is not
totally homogeneous in terms of grade, so the Company expects to see some fluctuation in results on a
month-to-month basis.
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Ian Berzins, President and CEO commented, "The average run of mine mineralized material in the
surface stockpile grades 1.39% copper, 0.29 g/t gold and 11 g/t silver but there are pockets of higher
and lower grade material.
Rejects from the ore sorting process continue to grade between 0.4% Cu and
1.0% Cu. The cut off grade ("
COG
") for milling copper mineralized material at the BRM that is already on
surface is 0.4% Cu.
Hence, all rejects can be economically processed in future at the BRM once the
Company has received permission to restart the mill.
Readers are reminded that less than 2% of all
micro-cap junior mining companies in Canada are generating revenues."
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 30% 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:
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.
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