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Canadian Critical Minerals (CCMI) reported record revenues from its Bull River Mine project near Cranbrook, BC. In October 2024, the company shipped 1,064 dry metric tonnes of sorted mineralized material to New Afton, receiving a provisional payment of USD$378,000. The material graded 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag.
To date, CCMI has shipped approximately 5,300 tonnes under the Ore Purchase Agreement. The company has 73,000 tonnes of coarse material available for sorting, 42,000 tonnes of rejects grading between 0.4-1.0% Cu, and 60,000 tonnes of fine material grading 1.39% copper, which could potentially be processed at the Bull River Mine mill once permissions are received.
Canadian Critical Minerals (CCMI) ha riportato ricavi record dal suo progetto Bull River Mine vicino a Cranbrook, BC. Nel ottobre 2024, l’azienda ha spedito 1.064 tonnellate metriche secche di materiale mineralizzato selezionato a New Afton, ricevendo un pagamento provvisorio di USD$378.000. Il materiale aveva una gradazione del 4,67% di Cu, 0,74 g/t di Au e 44,7 g/t di Ag.
Ad oggi, CCMI ha spedito circa 5.300 tonnellate nell’ambito del Contratto di Acquisto Minerale. L’azienda ha 73.000 tonnellate di materiale grosso disponibili per la selezione, 42.000 tonnellate di scarti con una gradazione tra 0,4-1,0% di Cu e 60.000 tonnellate di materiale fine con una gradazione di 1,39% di rame, che potrebbero essere lavorati presso il mulino di Bull River Mine una volta ottenute le autorizzazioni.
Canadian Critical Minerals (CCMI) reportó ingresos récord de su proyecto Bull River Mine cerca de Cranbrook, BC. En octubre de 2024, la empresa envió 1,064 toneladas métricas secas de material mineralizado clasificado a New Afton, recibiendo un pago provisional de USD$378,000. El material tuvo una ley del 4.67% de Cu, 0.74 g/t de Au y 44.7 g/t de Ag.
Hasta la fecha, CCMI ha enviado aproximadamente 5,300 toneladas bajo el Acuerdo de Compra de Mineral. La empresa tiene 73,000 toneladas de material grueso disponibles para clasificar, 42,000 toneladas de rechazos con leyes entre 0.4-1.0% de Cu, y 60,000 toneladas de material fino con una ley de 1.39% de cobre, que podrían procesarse en la planta del Bull River Mine una vez que se reciban los permisos.
캐나다 미미널 (CCMI)은 BC주 크랜브룩 근처의 불 리버 광산 프로젝트에서 기록적인 수익을 보고했습니다. 2024년 10월, 이 회사는 분류된 광물화 물질 1,064건을 뉴 애프턴으로 선적했으며, USD$378,000의 예비 지급을 받았습니다. 이 물질은 4.67% Cu, 0.74 g/t Au 및 44.7 g/t Ag의 농도를 기록했습니다.
현재까지 CCMI는 광석 매입 계약에 따라 약 5,300톤을 선적했습니다. 회사는 분류를 위해 이용 가능한 73,000톤의 조미물을 보유하고 있으며, 0.4-1.0% Cu 등급의 42,000톤의 불량 물질과 1.39% 구리 등급의 60,000톤의 미세한 물질을 보유하고 있습니다. 이는 허가를 받은 경우 불 리버 광산의 공장에서 처리될 수 있습니다.
Canadian Critical Minerals (CCMI) a rapporté des revenus record provenant de son projet Bull River Mine près de Cranbrook, en Colombie-Britannique. En octobre 2024, l’entreprise a expédié 1 064 tonnes métriques sèches de matériau minéralisé trié à New Afton, recevant un paiement provisoire de USD$378 000. Le matériau avait un taux de 4,67 % de Cu, 0,74 g/t d’Au et 44,7 g/t d’Ag.
À ce jour, CCMI a expédié environ 5 300 tonnes dans le cadre de l’accord d’achat de minerai. L’entreprise dispose de 73 000 tonnes de matériau grossier disponibles pour le tri, 42 000 tonnes de rejets avec une teneur comprise entre 0,4 et 1,0 % de Cu, et 60 000 tonnes de matériau fin ayant une teneur de 1,39 % de cuivre, qui pourraient potentiellement être traitées à l’usine de Bull River Mine une fois les autorisations reçues.
Canadian Critical Minerals (CCMI) berichtete von Rekordumsätzen aus seinem Bull River Mine Projekt in der Nähe von Cranbrook, BC. Im Oktober 2024 hat das Unternehmen 1.064 trockene metrische Tonnen sortiertes mineralisiertes Material nach New Afton verschifft und eine vorläufige Zahlung von USD$378.000 erhalten. Das Material hatte eine Gehaltsklasse von 4,67% Cu, 0,74 g/t Au und 44,7 g/t Ag.
Bis heute hat CCMI etwa 5.300 Tonnen im Rahmen des Erzeinkaufsvertrags verschifft. Das Unternehmen hat 73.000 Tonnen grobes Material zur Sortierung verfügbar, 42.000 Tonnen Abfälle mit einem Gehalt von 0,4-1,0% Cu und 60.000 Tonnen feines Material mit einem Gehalt von 1,39% Kupfer, das möglicherweise in der Mühle von Bull River Mine verarbeitet werden kann, sobald die Genehmigungen erteilt werden.
Positive
- Record monthly revenue of USD$378,000 in October 2024
- High-grade material shipment: 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag
- Significant stockpile inventory available for future processing
- All reject material above economic cut-off grade of 0.4% Cu
Negative
- Mill restart pending regulatory permissions
- Processing operations currently to sorting and shipping
Calgary, Alberta–(Newsfile Corp. – November 21, 2024) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (“CCMI” or the “Company”) is pleased to report record 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 October 2024, the Company trucked 1,064 dry metric tonnes (“dmt“) of sorted mineralized material to New Afton and the Company received a provisional payment of approximately USD$378,000 for the October 2024 shipments. The mineralized material sent to New Afton graded 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag.
As of October 5th, 2024, the contractor responsible for crushing and screening activities completed crushing and screening of all mineralized material from the original 180,000 tonne surface stockpile and has since demobilized from the mine site. To-date the Company has shipped approximately 5,300 tonnes of mineralized material to New Afton under the Ore Purchase Agreement (“OPA“). Shipped material includes 4,100 tonnes of sorted material and 1,200 tonnes of unsorted fines. At October month-end, the Company had approximately 73,000 tonnes of coarse material that is available for sorting through the Steinert KSS 100 ore sorter prior to shipping to New Afton. There are now approximately 42,000 tonnes of rejects from the ore sorting process that are being stockpiled on surface as an initial feed for the BRM mill. Rejects continue to grade between 0.4% Cu and 1.0% Cu. Hence all rejects can be economically processed in future at the BRM once the Company has received permission to restart the mill. Additionally, the Company has stockpiled approximately 60,000 tonnes of fine material that is too fine to be sent to the sorter. Fine material is expected to grade at 1.39% copper, 0.29 g/t gold and 11 g/t silver representing the average run of mine material in the original surface stockpile. The cut off grade (“COG“) for milling copper mineralized material at the BRM that is already on surface is 0.4% Cu. Hence both the rejects and fines have sufficiently high enough grade to provide an economic feed to the BRM mill in future. Should metal prices continue to improve, the Company may send a portion of the fines to New Afton to generate additional revenues in the near term.
Ian Berzins, President and CEO of CCMI commented, “The provisional payment of USD$378,000 for October 2024 represents the highest monthly revenue received to-date under the Ore Purchase Agreement with New Afton, bettering the June 2024 total of USD$246,000 in revenues. Some of the revenues from the OPA will be used in support of the permit application to restart the BRM in a phased approach wherein the Company plans to mill the coarse rejects and fines at the BRM property followed by resuming mining in the underground.”
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 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 also owns a 30% interest in the 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.
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/230960
FAQ
What was CCMI’s (RIINF) revenue from Bull River Mine in October 2024?
CCMI received a provisional payment of USD$378,000 for October 2024 shipments from Bull River Mine.
How many tonnes of material has CCMI (RIINF) shipped under the Ore Purchase Agreement?
CCMI has shipped approximately 5,300 tonnes of mineralized material to New Afton under the Ore Purchase Agreement.
What is the grade of CCMI’s (RIINF) October 2024 shipment to New Afton?
The October 2024 shipment graded 4.67% Cu, 0.74 g/t Au and 44.7 g/t Ag.
