Canadian Critical Minerals Provides Progress Report on Bull River Mine Project
Canadian Critical Minerals (TSXV: CCMI) announced additional revenue from the sale of stockpiled copper, gold, and silver from its Bull River Mine project. In April 2024, the company transported 362 wet metric tonnes of mineralized material to New Afton, receiving a provisional payment of approximately US$72,445. The material graded 2.96% copper, 0.62 g/t gold, and 23.1 g/t silver.
Operational improvements include the use of a Steinert KSS 100 X-Ray Transmissive Ore Sorter, enhancing the grade of the material before transportation. Road restrictions in the Cranbrook area, limiting load capacity to 70%, were lifted on April 24, 2024, allowing the resumption of full-capacity trucking operations. The company anticipates higher shipment volumes and improved grades in the coming months.
- Generated additional revenue of approximately US$72,445 from April 2024 shipments.
- Material from Bull River Mine graded 2.96% copper, 0.62 g/t gold, and 23.1 g/t silver.
- Use of Steinert KSS 100 X-Ray Transmissive Ore Sorter resulted in over 200% grade improvements for all metals.
- Road restrictions lifted, allowing resumption of full-capacity trucking operations.
- Road restrictions imposed earlier in the year operational capacity to 70% until April 24, 2024.
- Potential fluctuations in material grade due to non-homogeneous stockpile.
Calgary, Alberta--(Newsfile Corp. - May 14, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) is pleased to report that it has received additional 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 April 2024, the Company trucked 362 wet metric tonnes ("wmt") of mineralized material to New Afton and the Company received a provisional payment of approximately US
The Company is using a Steinert KSS 100 X-Ray Transmissive Ore Sorter ("Ore Sorter") to pre-concentrate coarse mineralized material from a large surface stockpile at the BRM prior to transporting to New Afton for processing under an Ore Purchase Agreement ("OPA") (see press release dated October 5, 2023, on Sedar+). Road restrictions, that were imposed by the Ministry of Transportation and Infrastructure of British Columbia on February 24, 2024, to
Ian Berzins, President and CEO commented, "With road restrictions now removed in the Cranbrook area, we expect to increase sending high-grade, pre-concentrated stockpile material to New Afton. The run of mine mineralized material from the surface stockpile grades
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
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
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/209194
FAQ
What recent revenue did Canadian Critical Minerals report for April 2024?
What grades were achieved for the mineralized material from Bull River Mine?
How has the Steinert KSS 100 X-Ray Transmissive Ore Sorter improved operations?
When were the road restrictions in the Cranbrook area lifted?
What is the expected impact of lifting the road restrictions on CCMI's operations?
