Calgary, Alberta--(Newsfile Corp. - March 4, 2025) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to announce a 10% increase in copper and a 15% increase in gold in a new Mineral Resource for the Bull River Mine, near Cranbrook, B.C. The Mineral Resource Estimate ("MRE") was independently prepared by Moose Mountain Technical Services ("MMTS") under the supervision of Sue Bird, P.Eng. The Mineral Resource includes mineralized material from the surface stockpile of run of mine material that was previously not included in the Mineral Resource estimate.
Highlights:
- Total Indicated Mineral Resource of 2.9Mt grading 1.58% Cu, 0.389 g/t, and 13.3 g/t Ag.
- Total Inferred Mineral Resource of 1.6Mt grading 1.43% Cu, 0.388 g/t Au, and 12.1 g/t Ag.
- Inclusion of stockpile and increase in metal prices have resulted in the Indicated Resource to increase by 11% in the Cu metal and 17% in the gold metal content compared to the previous, 2021 MRE.
The current surface Mineral Resource has an effective date of December 31, 2024. The surface stockpile Mineral Resource is not based on a Cutoff grade ("COG") because the material is already on surface and the entire stockpile is reported. As of December 31, 2024, the Company had trucked 6,737 tonnes of pre-concentrated high-grade mineralized material to New Afton under an Ore Purchase Agreement ("OPA"). Under the OPA, New Afton performed assay services on all trucked material as well as low grade mineralized material that was rejected from the ore sorting process. The December 31, 2024 stockpile resource is estimated at 173,263 tonnes of mineralized material grading 1.092% copper, 0.232 g/t gold and 9.1 g/t silver. As a result, there are 4,172,800 lbs of copper, 1,292 ounces of gold and 50,507 ounces of silver in the stockpile resource.
Ian Berzins, President and CEO commented, "We are extremely pleased with the results of the up-dated Mineral Resource including underground and surface mineralized material. During the period November 2023 to August 2024, the Company crushed and screened 180,000 tonnes of mineralized run of mine material already on surface in a stockpile. Subsequently, the Company sorted coarse material through an ore sorter and both the high-grade material that was sent to New Afton plus the lower grade material that was rejected by the sorter and not trucked to New Afton were assayed for copper, gold and silver. As a result, 5,177,900 lbs of CuEq mineralized material were added to the current Mineral Resource at Bull River."
Table 1: Summary of Bull River Underground Mineral Resource - Effective Date December 31, 2024
| Class | Cutoff Cu Eqv. (%) | ROM Tonnage (tonnes) | In situ Grades | Metal | |||||||
| Cu Eqv. (%) | Cu (%) | Au (gpt) | Ag (gpt) | NSR (CDN$/t) | CuEq (000 lbs) | Cu (000 lbs) | Au (kOz) | Ag (kOz) | |||
| Indicated | varies due to stockpile inclusion | 2,864,266 | 1.921 | 1.575 | 0.389 | 13.3 | 183.98 | 121,286 | 99,487 | 35.8 | 1,225 |
| Inferred | 1,637,996 | 1.763 | 1.432 | 0.388 | 12.1 | 168.84 | 63,650 | 51,715 | 20.4 | 636 | |
Mineral Resource Notes:
- The qualified person responsible for the mineral resource estimate is Sue Bird P.Eng of MMTS.
- The base case cut-off is 0.70% CuEq which more than covers the Processing costs of CDN$30/tonne and Underground Mining costs of CDN$35/tonne.
- A minimum mining width of 2.0m is assumed.
- Mineral resources are based on a US$2,200/oz gold price, US$4.15/lb copper price and US$26.5/oz silver price and the following smelter terms: 96.25% payable Cu, 97.5% payable Au and 95% payable Ag.
- Forex of 0.72 US$:CDN$
- Treatment charges of US$5/tonne for Cu, Refining charges of US$0.005/lb Cu, US$8/oz for Au, US$0.5/oz Ag.
- Transportation charges of US$100/tonne Cu concentrate.
- Metallurgical recoveries have been estimated as 93% for Cu, 75% for Au, and 90% for Ag.
- The mineral resource has been confined by a "reasonable prospects of eventual economic extraction" underground shape equating to an NSR cut-off of CDN$65/tonne with all material within this shape reported as the resource.
- The bulk density has been assigned values of 2.7 and 3.06 tonnes/m3 depending on mineralized domain.
- Rounding as required by reporting guidelines may result in summation differences.
Table 2: Summary of the Bull River Underground Mineral Resource - Effective Date December 31, 2024
| Classification | Cutoff CuEq (%) | In situ | In situ Grades | Metal | ||||||
| Tonnage (Ktonnes) | CuEq (%) | Cu (%) | Au (gpt) | Ag (gpt) | NSR ($CDN) | Cu (000 lbs) | Au (kz) | Ag (koz) | ||
| Indicated | 0.7 | 2,691 | 1.957 | 1.607 | 0.399 | 13.6 | 187.48 | 116,108 | 95,314 | 35 |
| Inferred | 0.7 | 1,638 | 1.763 | 1.432 | 0.388 | 12.1 | 168.84 | 63,650 | 51,715 | 20 |
Table 3: Summary of Bull River Surface Mineral Resource - Effective Date December 31, 2024
| Tonnage (dmt) | CuEq (%) | Cu (%) | Au (gpt) | Ag (gpt) | NSR (CDN$/ tonne) | Metal Content | ||||
| CuEq (klbs) | Cu (klbs) | Au (oz) | Ag (oz) | |||||||
| Total Resource with Fines | 173,263 | 1.356 | 1.092 | 0.232 | 9.067 | 125.21 | 5,177.9 | 4,172.8 | 1,291.7 | 50,507.2 |
The Bull River Mine is fully developed and dewatered with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels to a depth of 350 metres below surface. The surface infrastructure includes a 700 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.
Qualified Person
The disclosure of technical or scientific nature in this news release has been reviewed and approved by Sue Bird, P.Eng. who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101. A NI 43-101 Technical Report will be filed on SEDAR within 45 days of this press release.
The disclosure herein, including relating to mineral resource estimates, has been prepared in accordance with the requirements of Canadian securities laws, as set forth in NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") classification system, the CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council.
About Canadian Critical Minerals Inc.
Canadian Critical Minerals Inc. is a mining company primarily focused on copper production assets in Canada. Its main asset is the 100% owned Bull River Mine project near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. The Company also owns a 10% interest in XXIX Metal Corp., which holds a 100% interest in the Thierry copper project near Pickle Lake, Ontario and a 100% interest in the Opemiska copper project near Chapais-Chibougamau, Quebec.
We seek Safe Harbor.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E-Mail: 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.
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SOURCE: Canadian Critical Minerals Inc.
