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Collective Metals Commissions Derrick Strickland to Complete NI 43-101 Technical Report on its Princeton Copper Project & Announces a Private Placement
VANCOUVER, British Columbia, June 08, 2023 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | FSE: TO1) (the “Company” or “Collective”), is pleased to anno
About this update from Collective Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, June 08, 2023 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | FSE: TO1) (the “Company” or “Collective”), is pleased to announce has contracted Derrick Strickland P. Geo to complete a Technical Report (“Report”) in accordance with National Instrument 43-101 on the Princeton Project in southwest Princeton, British Columbia (the “Flagship Project” or the “Project”). Mr. Strickland is a graduate of Concordia University of Montreal, Quebec, with a B.Sc. in Geology, 1993. He has been practicing his profession continuously since 1993 and has been working in mineral exploration since 1986 in gold, precious, base metal, and coal mineral exploration. Mr. Strickland has worked throughout Canada, United States, China, Mongolia, South America, South East Asia, Ireland, West Africa, Papua New Guinea, and Pakistan. The purpose of the report is to provide a comprehensive update on the Flagship Project including all available data that the Company has put together. The updated NI 43-101 will also offer valuable insights by compiling existing data, previous work, and new technology to better guide future programs. The Company’s Flagship Project is easily accessible by road and is located immediately west of Highway 3 south of Princeton, BC, in a well-established mining district with excellent infrastructure, a local workforce and support services. The Project hosts potential for identification of one (or more) copper gold alkalic porphyry occurrences similar in age and deposit type to the Copper Mountain Mine. The Project is also approximately 10 km west of Copper Mountain Mining Corporation’s currently producing Copper Mountain Mine (“Copper Mountain”), which hosts a Proven and Probable Mineral Reserve of 702 Mt of 0.24% Copper. Christopher Huggins, Chief Executive Officer of Collective Metals, commented, “We are very excited about the potential of our Princeton Project and pleased to work directly with Derrick to complete the Report on the entire Project. The Report underscores Collective’s commitment to providing stakeholders with accurate and reliable information.” Private Placement Collective Metals also announces that it intends to complete a best efforts non-brokered private placement financing of up to 3,125,000 units at a price of $0.24 per unit (each, a “Unit”) for gross proceeds of up to $750,000 (...