Business
Canadian Critical Minerals Focuses on Bull River Mine Project
Calgary, Alberta--(Newsfile Corp. - November 27, 2023) - Canadian Critical Minerals Inc. (TSXV: ...
About this update from Canadian Critical Minerals Inc
[{"type":"text","content":"Canadian Critical Minerals Focuses on Bull River Mine ProjectCalgary, Alberta--(Newsfile Corp. - November 27, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (\"CCMI\" or the \"Company\") is focused on its flagship Bull River Mine (\"BRM\") project near Cranbrook, BC. The BRM is the highest-grade advanced underground copper mine in British Columbia. The mine is fully developed with over 22 kilometres of underground ramps, tunnels and raises accessing approximately 75% of the current Mineral Resource. The mine has been maintained in a dewatered condition since 2010. The project has significant infrastructure in place including roads, grid power, rail and proximity to established mining communities including Cranbrook, Fernie and Kimberley.The following table summarizes the current Indicated and Inferred Resource estimate for the project at the base case Copper Equivalent (CuEq) grade of 0.9% CuEq. (See press release on Sedar+ dated February 23, 2021). The average thickness of both the Indicated and Inferred Resource is 5.5 metres.Summary of the Bull River Deposit Mineral Resource Estimate at a Base Case Cut-off of 0.9% CuEq - Effective Date December 1, 2021ClassificationCut-off CuEq (%)In-situIn-situ GradesMetalTonnageCuEqCuAuAgNSR CuAuAg(Ktonnes)(%)(%)(gpt)(gpt)($CDN)(000 lbs)(koz)(koz)Indicated0.92,2612.1321.7960.42215.3155.29 89,54530.61,113Inferred0.91,3561.9181.5980.41713.6139.70 47,799 18.2594 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 an NSR value of CDN$65/tonne, based on 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$1,600/oz gold price, US$3.50/lb copper price and US$20/oz silver price and the following smelter terms: 96.25% payable Cu, 97.5% payable Au and 90% payable Ag.Forex of 0.79 US$:CDN$. Treatment charges of US$5/tonne for Cu, Refining charges of US$0.005/lb Cu, US$8/oz for AuUS$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/t...