Canadian Critical Minerals Generates USD$143,000 in Revenue from Bull River Mine
Rhea-AI Summary
Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) reported revenue of approximately USD$143,000 from the sale of stockpiled copper, gold, and silver mineralized material at the Bull River Mine project in July 2024. The company shipped 550 wet metric tonnes of sorted mineralized material to New Afton, grading 3.73% Cu, 0.69 g/t Au, and 31.0 g/t Ag.
Despite processing more material through the ore sorter compared to previous months, lower grade material from the surface stockpile resulted in less high-grade material for shipment. The company expects some fluctuation in results due to the stockpile's heterogeneous nature. The average run of mine mineralized material grades 1.39% copper, 0.29 g/t gold, and 11 g/t silver.
Positive
- Generated USD$143,000 in revenue from mineralized material sales in July 2024
- Processed material graded 3.73% Cu, 0.69 g/t Au, and 31.0 g/t Ag
- All rejects from ore sorting process (0.4% Cu to 1.0% Cu) can be economically processed in the future
Negative
- Encountered lower grade material from surface stockpile, resulting in less high-grade material for shipment
- Fluctuating results expected due to heterogeneous nature of stockpile
News Market Reaction – RIINF
On the day this news was published, RIINF declined 3.00%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Calgary, Alberta--(Newsfile Corp. - August 14, 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 July 2024, the Company trucked 550 wet metric tonnes ("wmt") of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD
During the month, the Company encountered lower grade material from the surface stockpile. Although more mineralized material was processed through the ore sorter compared to all previous months of operation, less high-grade material was concentrated for shipment to New Afton. The stockpile is not totally homogeneous in terms of grade, so the Company expects to see some fluctuation in results on a month-to-month basis.
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Ian Berzins, President and CEO commented, "The average run of mine mineralized material in 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/219925
FAQ
What was Canadian Critical Minerals' (RIINF) revenue from Bull River Mine in July 2024?
How much mineralized material did Canadian Critical Minerals (RIINF) ship to New Afton in July 2024?
What was the grade of the mineralized material shipped by Canadian Critical Minerals (RIINF) in July 2024?
What is the average grade of the run of mine mineralized material in the surface stockpile at Bull River Mine?
