Canadian Critical Minerals Generates Record Revenue from Bull River Mine
Rhea-AI Summary
Canadian Critical Minerals (CCMI) reported record revenues from its Bull River Mine project near Cranbrook, BC. In October 2024, the company shipped 1,064 dry metric tonnes of sorted mineralized material to New Afton, receiving a provisional payment of USD$378,000. The material graded 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag.
To date, CCMI has shipped approximately 5,300 tonnes under the Ore Purchase Agreement. The company has 73,000 tonnes of coarse material available for sorting, 42,000 tonnes of rejects grading between 0.4-1.0% Cu, and 60,000 tonnes of fine material grading 1.39% copper, which could potentially be processed at the Bull River Mine mill once permissions are received.
Positive
- Record monthly revenue of USD$378,000 in October 2024
- High-grade material shipment: 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag
- Significant stockpile inventory available for future processing
- All reject material above economic cut-off grade of 0.4% Cu
Negative
- Mill restart pending regulatory permissions
- Processing operations currently to sorting and shipping
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - November 21, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report record 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 October 2024, the Company trucked 1,064 dry metric tonnes ("dmt") of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD
As of October 5th, 2024, the contractor responsible for crushing and screening activities completed crushing and screening of all mineralized material from the original 180,000 tonne surface stockpile and has since demobilized from the mine site. To-date the Company has shipped approximately 5,300 tonnes of mineralized material to New Afton under the Ore Purchase Agreement ("OPA"). Shipped material includes 4,100 tonnes of sorted material and 1,200 tonnes of unsorted fines. At October month-end, the Company had approximately 73,000 tonnes of coarse material that is available for sorting through the Steinert KSS 100 ore sorter prior to shipping to New Afton. There are now approximately 42,000 tonnes of rejects from the ore sorting process that are being stockpiled on surface as an initial feed for the BRM mill. Rejects continue to grade between
Ian Berzins, President and CEO of CCMI commented, "The provisional payment of USD
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/230960