Canadian Critical Minerals Generates USD$167,000 in Revenue from Bull River Mine
Rhea-AI Summary
Canadian Critical Minerals (CCMI) reported revenue of USD$167,000 from its Bull River Mine project in December 2024. The company shipped 424 dry metric tonnes of sorted mineralized material to New Afton, achieving their highest grades yet through sorting operations at 5.43% Cu, 0.80 g/t Au and 59.2 g/t Ag.
While winter conditions and holiday vacations affected ore sorting throughput, the company has shipped approximately 6,255 tonnes of mineralized material to New Afton under the Ore Purchase Agreement, including 5,055 tonnes of sorted material and 1,200 tonnes of unsorted fines. Rejects from sorting grade between 0.4% Cu and 1.0% Cu, which can be processed once mill operations restart.
The company has also stockpiled about 60,000 tonnes of fine material grading at 1.39% copper, 0.29 g/t gold and 11 g/t silver.
Positive
- Generated USD$167,000 in revenue for December 2024
- Achieved highest grades yet through sorting operations (5.43% Cu, 0.80 g/t Au, 59.2 g/t Ag)
- Maintains 60,000 tonnes stockpile of fine material for future processing
Negative
- Lower than planned shipment volume due to winter conditions and holiday disruptions
News Market Reaction – RIINF
In the trading session that priced this news, RIINF gained 10.71%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - January 28, 2025) - 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 December 2024, the Company trucked 424 dry metric tonnes ("dmt") of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD
Ore sorting throughput was adversely affected by winter conditions and vacations for BRM employees and contract truckers over the holiday period, resulting in less material produced for shipment and delivered 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 6,255 tonnes of mineralized material to New Afton under the Ore Purchase Agreement ("OPA"). Shipped material includes 5,055 tonnes of sorted material and 1,200 tonnes of unsorted fines. Rejects from the sorting process continue to grade between
Ian Berzins, President and CEO of CCMI commented, "While the total tonnes sent to New Afton during December 2024 were lower than planned, we did achieve the highest grades yet for ore sorting at the Bull River Mine."
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 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/238663