Calgary, Alberta--(Newsfile Corp. - July 5, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("Canadian Critical Minerals" or the "Company") is pleased to announce that exploration drilling has begun at the Thierry Mine Project near Pickle Lake, Ontario effective July 6, 2023.
The 2023 summer program is designed for approximately 2,500 metres of diamond drilling and will focus on expanding upon the K1-1 deposit which is a large tonnage, near surface deposit located approximately 3 km from the past producing Thierry Mine. The K1-1 deposit has a current Inferred Mineral Resource within an optimized Whittle pit shell consisting of the following: 53,614,000 tonnes grading 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 a NSR of C$12/tonne (see NI 43-10 Technical Report filing on SEDAR dated February 22, 2021).
The current Inferred Resource 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 drill holes were completed outside of the optimized Whittle shell and each hole intersected mineralization with assayed grades comparable to, or better than, those in the current Inferred Resource. Results of this program are included below and can be viewed on SEDAR (see press release by Cadillac Ventures Inc. of September 13, 2012).
Assay highlights from 2012 Drilling Program by Cadillac Ventures Inc.
| Hole # |
From (ft) |
To (ft) |
Length (ft) |
Cu % |
Ni % |
| K-12-43 |
139.5 |
213 |
73.5 |
0.39 |
0.07 |
| K-12-44 |
44.6 |
55 |
10.4 |
0.34 |
0.05 |
|
378.5 |
391.5 |
13 |
0.43 |
0.09 |
| K-12-45 |
98.5 |
108 |
9.5 |
0.37 |
0.08 |
|
135 |
153.5 |
18.5 |
0.34 |
0.05 |
|
325 |
353 |
28 |
0.32 |
0.06 |
|
369 |
430 |
61 |
0.34 |
0.08 |
| K-12-46 |
88.3 |
116 |
27.7 |
0.37 |
0.13 |
|
240 |
323 |
83 |
0.33 |
0.10 |
|
540 |
550 |
10 |
0.42 |
0.15 |
|
612.5 |
622.5 |
10 |
0.41 |
0.09 |
| K-12-47 |
395 |
435 |
40 |
0.33 |
0.16 |
|
460 |
505 |
45 |
0.31 |
0.14 |
|
680.8 |
785 |
104.2 |
0.35 |
0.09 |
|
847 |
901.5 |
54.5 |
0.33 |
0.08 |
|
984 |
999 |
15 |
0.36 |
0.10 |
| K-12-48 |
657.5 |
692.5 |
35 |
0.55 |
0.14 |
|
759.5 |
984.5 |
225 |
0.48 |
0.11 |
| including |
824.3 |
984.5 |
160.2 |
0.51 |
0.10 |
|
1003.3 |
1027.4 |
24.1 |
0.59 |
0.12 |
|
1047.4 |
1074 |
26.6 |
0.33 |
0.14 |
|
1137 |
1228 |
91 |
0.36 |
0.09 |
|
1243 |
1310 |
67 |
0.30 |
0.11 |
|
1325 |
1343.75 |
18.75 |
0.30 |
0.07 |
| K-12-49 |
795 |
1105 |
310 |
0.37 |
0.08 |
| including |
935 |
1105 |
175 |
0.42 |
0.10 |
|
1135 |
1170 |
35 |
0.31 |
0.09 |
|
1190 |
1255 |
65 |
0.37 |
0.09 |
|
1280 |
1320 |
40 |
0.50 |
0.10 |
| K-12-50 |
635.5 |
685 |
49.5 |
0.38 |
0.07 |
|
695 |
710 |
15 |
0.36 |
0.08 |
|
725 |
870 |
145 |
0.49 |
0.12 |
|
895 |
955 |
60 |
0.30 |
0.12 |
|
1080 |
1098.5 |
18.5 |
0.31 |
0.10 |
Ian Berzins, President and CEO, commented, "We are pleased to begin our initial drilling program at the Thierry Mine project with specific focus on the K1-1 deposit. We plan to build on the results of previous operators. The program is being supervised by Brian Newton who is intimately familiar with the project having supervised previous programs. We believe there is significant potential to expand upon the current Inferred Resource at K1-1."
Qualified person
CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Brian H. Newton P.Geo., of Minroc Management Limited 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.
Canadian Critical Minerals Inc. is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs 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.
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/172454
