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Scandium Canada Completes Summer Drilling Campaign at its Crater Lake Project

V.SCD

(TheNewswire)

Scandium Canada Ltd.

MONTRÉAL, QUÉBEC – AUGUST 2, 2024 – TheNewswire – Scandium Canada Ltd. (the “Company” or "Scandium Canada") (TSX VENTURE: SCD; OTCQB: SCDCF) is pleased to report that it has completed 2,854 m of diamond drilling on its Crater Lake project and that it is currently demobilizing the drilling equipment.

The drilling campaign had two main objectives. The first one was to complete geomechanical drilling to determine the optimal angles of the slopes of the proposed open pit design for the pre-feasibility study. It totaled 1,669 m in 6 holes.

The second objective was to confirm the potential extension of the TG Zone for an additional 250m length. Currently the Preliminary Economic Assessment (“PEA”), originally filed in July 2022, takes into consideration an initial mineralized zone of 350m in length. The focus of the additional drilling completed this summer was around extending that zone (TG Zone North Lobe). The Company is pleased to report that mineralization is present in all holes. In total, 1,185 m in 7 holes have been drilled on the southern extension. The table below details these holes. The geologist is currently completing logging and preparing samples to be sent to the lab for assaying during August. Assay results will be released as they are received.

Guy Bourassa, CEO, mentioned “We are very excited with the outcome of this drilling campaign. No doubt that the mineralized zone extends to the South. It could significantly increase the size of the Crater Lake project.”

Figure 1 – Crater Lake Drillhole Location Map


Click Image To View Full Size

Table 1 – 2024 Geological Drillhole Locations

Drillholes

Easting

Northing

Elevation

Azimuth

Dip

Depth

CL24063

440730

6133506

536

304

45

201

CL24064

440747

6133557

540

304

45

201

CL24065

440690

6133478

537

304

45

186

CL24066

440671

6133546

542

304

45

132

CL24067

440697

6133411

535

304

45

240

CL24068

440638

6133450

539

305

45

132

CL24069

440689

6133597

546

305

45

93

The technical content in this press release was prepared, reviewed and certified by Marina IUND, P. Geo, M. Sc. a Geologist and Qualified Person as defined by NI43-101.

ABOUT SCANDIUM CANADA LTD.

Scandium Canada is a Canadian technology metals company focused on advancing its flagship Crater Lake scandium and rare earth project in Québec.

For further information please contact:

Scandium Canada Ltd.
Guy Bourassa

Chief Executive Officer
Phone: +1 (418) 580-2320

Email:info@scandium-canada.com

Rebecca Greco

Investor Relations

Phone: +1 (416) 822-6483

Email:fighouse@yahoo.com

Website:www.scandium-canada.com.comTwitter:@ScandiumCanadaFacebook:Scandium Canada Ltd. Linkedin.com: Scandium canada Ltd. Instagram: @scandiumcanada

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2024 TheNewswire - All rights reserved.

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