Canadian Critical Minerals Generates USD$198,000 in Revenue from Bull River Mine
Canadian Critical Minerals Generates
USD$198,000 in Revenue from Bull River Mine
Calgary, Alberta--(Newsfile Corp. - December 18, 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 November 2024, the Company trucked 524 dry metric
tonnes ("
dmt
") of sorted mineralized material to New Afton and the Company received a provisional
payment of approximately USD$198,000 for the November 2024 shipments.
The mineralized material
sent to New Afton graded 5.02% Cu, 1.05 g/t Au and 50.4 g/t Ag.
Ore sorting throughput was adversely affected by winter conditions resulting in less material produced for
shipment 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 5,825 tonnes of
mineralized material to New Afton under the Ore Purchase Agreement ("
OPA
").
Shipped material
includes 4,625 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, "The mine encountered some new challenges
with ore sorting during winter conditions.
The coarse stockpile is open to the environment.
A mid-month
snowstorm deposited snow on the stockpile resulting in higher moisture reporting to the ore sorter and a
requirement to shut down for more frequent cleaning."
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 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. The mine has a fully developed
underground infrastructure to a depth 350 metres below surface with 21,000 metres of underground
workings.
The mine is being maintained in a dewatered condition.
The mine is connected to grid power
and is accessible by paved and all-weather roads.
The property is near the towns of Fernie, Cranbrook
and Kimberley in the East Kootenays of British Columbia.
The Company is currently generating
revenues from the sale of concentrated ore from a large surface stockpile.
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/234324