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: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
