Canadian Critical Minerals Inc. reports developments tied to copper production assets in Canada, led by the 100% owned Bull River Mine project near Cranbrook, British Columbia. Company updates center on Bull River's copper, gold and silver mineralized material, stockpiled-material sales, care and maintenance activities, engineering work, and permit-related preparations for mill and underground operations.
Recurring news also covers capital formation through flow-through units, private placements, common share purchase warrants and finder warrants, along with securities-law hold periods and TSX Venture issuer reporting matters. The company also discloses its minority interest in XXIX Metal Corp., whose holdings include the Thierry and Opemiska copper projects in Canada.
Canadian Critical Minerals Inc. (TSXV: CCMI, OTCQB: RIINF) has announced the results from five remaining drill holes at the Thierry Copper Project near Pickle Lake, Ontario. The drill program, which took place in July 2023, covered 2,600 meters. CCMI, holding 23.2 million shares (30% stake) in Cuprum Corp, the project's 100% owner, is the second-largest shareholder after Orecap Invest Corp. The results, disclosed by Orecap, indicate that the K1-1 open pit remains open on strike and down dip, suggesting potential for resource expansion. The detailed results are available on Sedar Plus and Orecap's website.
Canadian Critical Minerals reported increased revenue from its Bull River Mine project, with May 2024 shipments generating approximately US$103,000, up from US$72,000 in April 2024. The company transported 360 wet metric tonnes of high-grade copper, gold, and silver material to New Afton, achieving grades of 3.86% Cu, 0.77 g/t Au, and 31.7 g/t Ag. The Ore Sorter significantly improved material grades by over 265%. Despite a one-week operational halt due to a conveyor belt tear, the company plans to enhance efficiency by shifting to a seven-day operational week starting June 15, 2024. This initiative aims to maximize throughput and leverage the ore sorter's capabilities.
Canadian Critical Minerals (CCMI) has successfully closed a financing deal, generating $100,432 through the issuance of 2,008,648 units priced at $0.05 each. Each unit includes one common share and one common share purchase warrant, with warrants exercisable at $0.08 per share over a 24-month period. The funds will be allocated to exploration and development at the Bull River Mine project near Cranbrook, B.C.
Canadian Critical Minerals (TSXV: CCMI) announced additional revenue from the sale of stockpiled copper, gold, and silver from its Bull River Mine project. In April 2024, the company transported 362 wet metric tonnes of mineralized material to New Afton, receiving a provisional payment of approximately US$72,445. The material graded 2.96% copper, 0.62 g/t gold, and 23.1 g/t silver.
Operational improvements include the use of a Steinert KSS 100 X-Ray Transmissive Ore Sorter, enhancing the grade of the material before transportation. Road restrictions in the Cranbrook area, limiting load capacity to 70%, were lifted on April 24, 2024, allowing the resumption of full-capacity trucking operations. The company anticipates higher shipment volumes and improved grades in the coming months.
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