Canadian Critical Minerals Provides Up-Date on Thierry Drill Program
Canadian Critical Minerals Provides Up-Date
on Thierry Drill Program
Calgary, Alberta--(Newsfile Corp. - July 18, 2023) - Canadian Critical Minerals Inc.
(TSXV: CCMI)
(OTCQB: RIINF)
("
Canadian Critical Minerals
" or the "
Company
") is pleased to provide an update
on the exploration drilling program which began at the Thierry Mine Project near Pickle Lake, Ontario on
July 6, 2023. To-date the Company has completed four NQ diamond drill holes and 1,229 metres of
drilling with all holes encountering visual mineralization including copper, nickel and zinc. The Company
cautions readers that visual identification of mineralization does not guarantee, or replace, assay results.
Assay results may not meet or exceed results from earlier drill programs.
Drill core samples have been
selected for assay and the results will be reported once available.
The 2023 summer program is designed for approximately 2,500 metres of diamond drilling and will
focus on expanding upon the K1-1 deposit which is a large tonnage, near surface deposit located
approximately 3 km east of the past producing Thierry Mine. The K1-1 deposit has a current Inferred
Mineral Resource within an optimized Whittle pit shell consisting of the following: 53,614,000 tonnes
grading 0.38% Cu, 0.10% Ni, 1.8 g/t Ag, 0.03 g/t Au, 0.05 g/t Pt and 0.14 g/t Pd at a NSR of C$12/tonne
(see NI 43-10 Technical Report filing on SEDAR dated February 22, 2021).
The K1-1 deposit consists
of approximately seven en echelon stacked lenses dipping at approximately 55 degrees to the north.
The Company has outlined 40 drill targets intended to improve information on strike and down dip
mineralized lens extensions relative to the pit shell. The 2023 program will focus initially on seven to eight
priority targets. Based on planned drill angles, the majority of drill holes should intersect structures at
approximate true width.
CCM-23-51 Complete
CCM-23-51 was collared approximately 60 metres south and 20 metres east of K-11-09 which was
previously drilled by Cadillac Ventures in 2011. (See press release on SEDAR by Cadillac Ventures of
August 9, 2011). K-11-09 yielded 105 metres at 0.35% Cu and 0.08% Ni beginning 36 metres from
surface.
CCM-23-51 was drilled parallel to K-11-09 and the hole was stopped after 275 metres where it
entered barren mafic volcanics as expected. Mineralization is consistently present throughout the entire
hole. Chalcopyrite (Cu) and pyrrhotite are the primary sulphides with traces of pentlandite (Ni) and
sphalerite (Zn).
CCM-23-52 Complete
CCM-23-52 was collared approximately 80 metres north of K-11-10 which was previously drilled by
Cadillac Ventures in 2011.
(See press release on SEDAR by Cadillac Ventures of August 16, 2011).
K-
11-10 yielded 157 metres at 0.329% Cu and 0.064% Ni beginning 6 metres from surface. The hole was
stopped after 275 metres where it entered barren mafic volcanics.
Mineralization is consistently present
throughout the entire hole. Chalcopyrite (Cu) and pyrrhotite are the primary sulphides with traces of
pentlandite (Ni) and sphalerite (Zn).
CCM-23-53 Complete
CCM-23-53 was collared approximately 60 metres south of K-11-27 which was previously drilled by
Cadillac Ventures in 2011.
(See press release on SEDAR by Cadillac Ventures of January 25, 2012).
K-11-27 yielded 178 metres at 0.35% Cu and 0.06% Ni beginning 127 metres from surface (including
37 metres at 0.65% Cu and 0.08% Ni and 0.25 g/t Pd). CCM-23-52 was drilled parallel to K-11-27 and
the hole was stopped after 275 metres where it entered barren mafic volcanics. Mineralization is
consistently present throughout the entire hole. Chalcopyrite (Cu) and pyrrhotite are the primary
sulphides with traces of pentlandite (Ni) and sphalerite (Zn).
CCM-23-54 Complete
CCM-23-54 was collared approximately 160 metres north of K-11-01 which was previously drilled by
Cadillac Ventures in 2011.
(See press release on SEDAR by Cadillac Ventures of May 5, 2011).
K-11-
01 yielded 27 metres at 0.58% Cu beginning 160 metres from surface (including 9 metres at 0.92% Cu)
and 53 metres at 0.27% Cu beginning 189 metres from surface. CCM-23-54 was drilled parallel to K-
11-01 and outside the conceptual pit shell to test for down dip extensions of known mineralization. This
hole is collared in barren mafic volcanics. Mineralization is consistently present, once through the
volcanics at the top of the hole, from 189 to 349m. Chalcopyrite (Cu) and pyrrhotite are the primary
sulphides with traces of pentlandite (Ni) and sphalerite (Zn).
Figure 1 - Plan map of historic and current/ongoing DDH at K1-1.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2187/173977_dc3b98b36423f97a_001full.jpg
Ian Berzins, President and CEO commented, "Our geological team, led by Brian Newton, is pleased with
the visual observation of copper, nickel and zinc mineralization in all four holes of our 2023 drilling
program at the Thierry Mine project that is focused on expanding the K1-1 deposit. All four holes have
identified mineralized structures consistent with our current Resource model. We believe there is
significant potential to expand upon the current Inferred Resource at K1-1."
Qualified person
CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and
approved by Brian H. Newton P.Geo., of Minroc Management Limited 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.
Canadian Critical Minerals Inc. 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's latest acquisition is the 100% owned 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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