Calgary, Alberta–(Newsfile Corp. – Jul 5, 2023) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (“Canadian Critical Minerals” or the “Company“) is pleased to announce that, effective July 6, 2023, exploration drilling has commenced at the Thierry Mine Project near Pickle Lake, Ontario.
The summer 2023 program is designed for approximately 2,500 meters of diamond drilling and will focus on the expansion of the K1-1 deposit, a large-tonnage, near-surface deposit located approximately 3 km from the Thierry mine that produced in the past. The K1-1 deposit has a current derived mineral resource within an optimized Whittle pit shell consisting of the following: 53,614,000 tons of grade 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 an NSR of C$12/tonne (see NI 43-10 technical report filed on SEDAR Feb 22, 2021).
The current derivative source at K1-1 does not include results from a 7,218 foot drilling program completed by Cadillac Ventures Inc. in the summer of 2012. Eight diamond boreholes were completed outside the optimized Whittle scale and each hole crossed mineralization with tested grades comparable to or better than those in the current derived resource. The results of this program are included below and can be viewed on SEDAR (see Cadillac Ventures Inc. press release dated September 13, 2012).
Assay Highlights from the 2012 Drilling Program by Cadillac Ventures Inc.
|Hole #||From (ft)||to (ft)||Length (ft)||Cu%||Ni%|
Ian Berzins, President and CEO, commented: “We are pleased to commence our first drilling program at the Thierry Mine project with specific focus on the K1-1 deposit. We intend to build on the results of previous operators. The program is overseen by Brian Newton, who is well acquainted with the project having supervised previous programs. We believe there is significant potential to expand the current derivative resource at K1-1.”
CCMI’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by Brian H. Newton P.Geo., of Minroc Management Limited, who serves as an advisor 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 principal asset is its 100% ownership of the Bull River Mine project (>135 million pounds 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.
Canadian Critical Minerals Inc.
President and General Manager
Caution with regard to forward-looking information
This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results of such work programs. Forward-looking information necessarily involves known and unknown risks, including but not limited to risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; and other risks.
Forward-looking information is necessarily based on a number of estimates and assumptions that, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that could cause actual results and future events to differ materially from those expressed or implied. results from such forward-looking information and the risks identified in the Company’s ongoing disclosure record. There can be no assurance that such information will prove to be accurate as actual results and future events may differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information in this press release is as of the date of this press release and is based on management’s opinions and estimates and information available to management as of the date of this press release. The Company disclaims any intent 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.
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