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Steadright Critical Minerals Signs LOI for Purchase of 94 Claims Contiguous to High-Grade Nickel Copper Cobalt PGM Ram Project
March 30, 2023 – TheNewswire - Huntsville ON - Steadright Critical Minerals (CSE:SCM) (“Steadright” or the “Company”) is pleased to announce that it has signed
About this update from Steadright Critical Minerals, Inc.
[{"type":"text","content":"March 30, 2023 – TheNewswire - Huntsville ON - Steadright Critical Minerals (CSE:SCM) (“Steadright” or the “Company”) is pleased to announce that it has signed a Letter of Intent (LOI) for the purchase of 94 mineral claims called the RAM Nord, which is contiguous to the RAM project near Port Cartier, Québec, pending shareholder approval. Steadright will compensate the vendor 2,200,000 common shares, the current property mineral rights holder, 2615153 Ontario Inc. along with $15,000 for staking and incidental costs, to own 100 percent of the mineral rights subject to shareholder approval of Steadright shareholders in an upcoming Special AGM meeting. The RAM project has a strike length of over 9km on the “Main Block” area and a 2km splay with both up to 500 meters wide and open at depth. The entire strike length currently contains, “Drill Ready” targets based on the alignment of the magnetic, gravity, ground and airborne EM anomalies coincident with identified geological targets. As reported by Marum Resources and Ressources Appalaches, March 13, 2003, in the Canadian Mining Journal, “These results and those of earlier drill programs have identified a low-grade, Nickel-Copper system from surface to a vertical depth of 150 meters and measuring 500 meters by 200 meters based on historical press releases). The system is characterized by several zones over 20 meters thick that are possibly related to a 60-meter-thick zone defined by earlier drilling. Overall, the massive sulphide zone intersects vary between 0.25-0.75 % Ni (Nickel) and 0.20-0.47 % Cu (Copper)”. In the REPORT ON MINERAL EXPLORATION ACTIVITIES IN QUEBEC DV 2003-02, Marum Resources and Ressources Appalaches also reported “the massive sulphide zones with up to 1.2 % Ni, 1.6 % Cu, 0.13 % Co, and 0.4 g/t Pt, were reported. On the Main Grid, located on the same property, four out of eight drill holes intersected nine mineralized zones, from 4 to 65 m thick, containing massive sulphides and yielding grades up to 1.6 % Ni, 1.5 % Cu, 0.18 % Co, and 0.2 g/t Pt were reported”. In addition, the report states, “these drill results confirm that the B-20 property (RAM) hosts an important Ni-Cu system located near surface, with significant cobalt and platinum group element concentrations”. Steadright press release January 24th, 2023. The Last closing price of Steadright Critical Miner...