Canadian Critical Minerals Inc. Signs Ore Purchase Agreement with New Afton
Calgary, Alberta--(Newsfile Corp. - October 5, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to announce that it has entered into an Ore Purchase Agreement ("OPA" or the "Agreement") to send ore to the New Afton operation for processing.
Under the terms of the OPA, CCMI will deliver up to 90,000 tonnes of mineralized material from the Bull River Mine ("BRM" or the "Project") to the New Afton operation near Kamloops, British Columbia over a period of two years. The Company currently has a large stockpile of approximately 180,000 tonnes of mineralized copper, gold and silver material on surface at BRM. Material will be screened and crushed and then sorted using a Steinert KSS 100 ore sorter prior to trucking to the New Afton mill facility. Ore sorting will separate low grade and waste from higher grade material so that only higher-grade material will be trucked. CCMI plans to begin preparing material for trucking in Q4 2023.
Ian Berzins, President and CEO of CCMI commented, "We are extremely pleased to enter into this Agreement. It provides us with the opportunity to monetize some of the value of the current surface stockpile at the Bull River Mine thereby generating first revenues for the Company. Proceeds from the OPA will be used to continue with final permitting of the Project, on-going care and maintenance costs and further capital upgrades at the Project. We are very interested to assess the applicability of ore sorting on our mineralized material on a large-scale basis as a grade control strategy. Potentially ore sorting can be integrated into the BRM milling operation in the longer term".
A
It is easy to figure out what you believe. The difficulty lies in determining - is what you believe the truth.
