Canadian Critical Minerals Generates USD$167,000 in Revenue from Bull River Mine
Canadian Critical Minerals Generates
USD$167,000 in Revenue from Bull River Mine
Calgary, Alberta--(Newsfile Corp. - January 28, 2025) - 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 December 2024, the Company trucked 424 dry metric tonnes
("
dmt
") of sorted mineralized material to New Afton and the Company received a provisional payment of
approximately USD$167,000 for the December 2024 shipments.
The mineralized material sent to New
Afton graded 5.43% Cu, 0.80 g/t Au and 59.2 g/t Ag.
Ore sorting throughput was adversely affected by winter conditions and vacations for BRM employees
and contract truckers over the holiday period, resulting in less material produced for shipment and
delivered to New Afton.
However, grades for copper, gold and silver were the highest yet achieved
through sorting operations.
To-date, the Company has shipped approximately 6,255 tonnes of
mineralized material to New Afton under the Ore Purchase Agreement ("
OPA
").
Shipped material
includes 5,055 tonnes of sorted material and 1,200 tonnes of unsorted fines.
Rejects from the sorting
process continue to grade between 0.4% Cu and 1.0% Cu, hence, they can be economically processed
in future at the BRM once the Company has received permission to restart the mill.
Additionally, the
Company has stockpiled approximately 60,000 tonnes of fine material that is too fine to be sent to the
sorter.
Fine material is expected to grade at 1.39% copper, 0.29 g/t gold and 11 g/t silver representing
the average run of mine material in the original surface stockpile.
Ian Berzins, President and CEO of CCMI commented, "While the total tonnes sent to New Afton during
December 2024 were lower than planned, we did achieve the highest grades yet for ore sorting at the
Bull River Mine."
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 copper production assets in Canada. CCMI's main
asset is the 100% owned Bull River Mine project near Cranbrook, British Columbia which has a Mineral
Resource containing copper, gold and silver. CCMI also owns a 10.4% interest in XXIX Metal Corp.
which holds a 100% interest in the Thierry Mine copper project near Pickle Lake, Ontario and a 100%
interest in the Opemiska Mine copper project near Chapais-Chibougamau, Quebec.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/238663