Calgary, Alberta–(Newsfile Corp. – March 31, 2023) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (“Canadian Critical Minerals” or the “Company“) is pleased to announce that it has entered into an ore characterization and sorting trial with MineSense Technologies Ltd.(“MineSense”) for mineralized material currently stockpiled at its Bull River Mine (“BRM”) project near Cranbrook, BC. MineSense’s ShovelSense® system utilizes X-Ray fluorescence based sensing technology that is mounted directly to digging equipment such as front-end loaders and shovels to accurately characterize and grade with each bucket, and differentiate between low, medium and high grade mineralized material.The objective of installing the ShovelSense system at the BRM project is to segregate higher-grade mineralized material from an existing 180,000 tonne surface stockpile that could be transported by truck and/or rail to an existing permitted milling facility in southern British Columbia for final processing. Through pre-concentration of higher-grade mineralized material at BRM, the Company may be able to generate sufficient revenues to offset transportation and processing costs resulting in economic advantage to the Company. The ShovelSense system is most effective characterizing material that is heterogeneous in nature, in that it can be separated into ore and waste based on grade. The first phase of the trial is to assess the heterogeneity of the stockpiled material and the second step will be to build a calibration model using a sampling program.
Ian Berzins, President and CEO commented, “We are excited to test the applicability of the ShovelSense system at our Bull River Mine project. The ShovelSense technology has already been integrated into grade control strategies at three Western Canadian copper mines including Copper Mountain Mining Corp, Teck’s Highland Valley Mine and Taseko’s Gibraltar Mine. If applicable, it could be integrated into a strategy to monetize some of the value of the current stockpile while the Company is waiting to receive permission from the BC Ministry of Energy, Mines and Low Carbon Innovation and the BC Ministry of Environment for the restart of the past-producing Bull River Mine”.
The Company plans to initiate the trial within 30 days.
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 (>1,300 million lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Canadian Critical Minerals Inc.
President & Chief Executive Officer
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.
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