Mining Stock News - Canadian Critical Minerals (TSXV: CCMI) (OTCQB: RIINF) Announces Conclusion of the Pre-Application Permitting Phase for the Restart of the Bull River Mine
Calgary, Alberta - May 9, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to announce the successful conclusion of the Preliminary Application Phase of the Joint Mines Act and Environmental Management Act Permit Amendments for the restart the Bull River Mine Project ("BRM") near Cranbrook, BC. The Company has received written confirmation of the information that is required for our Final Permit Application to be considered complete and ready for ministry consideration through an Application Instruction Document ("AID"). The next step will be for the Company to prepare and submit a Final Permit Application to the Ministry of Energy Mines and Low Carbon Innovation ("EMLI") and the Ministry of Environment and Climate Change Strategy ("ENV"). The Final Permit Application will be processed by the Major Mines Office ("MMO") through a Screening Phase.
The Company has notified EMLI and ENV of its intent to submit a joint Mines Act/Environmental Management Act ("MA/EMA") permit amendment application for the BRM project. The Company is seeking amendments to its existing permits issued under the BC Mines Act and BC Environmental Management Act that will allow the Company to restart the mill and deposit tailings on surface. The Company has received a final Joint MA/EMA Information Requirements Table ("JIRT") which defines the technical aspects that should be included in the Final Permit Application. Further information, in addition to the final JIRT, may still be required as a result of new information, consultation with Indigenous groups and/or changes to the project. The Company plans to submit the Final Permit Application within 90 to 120 days.
Ian Berzins, President and CEO of CCMI commented, "We are extremely pleased to conclude the Preliminary Application Phase for the restart of the BRM project. This represents an important milestone for the Company. We began this application process approximately three years ago with the submission of a Project Description. In anticipation of the Final Permit Application requirements, the Company has completed several long-term studies including a detailed engineered tailings disposal plan, surface and groundwater baseline monitoring programs over a two-year period, and a fisheries and aquatic study. The Company is currently completing hydrogeology and hydrology studies as well as tailings characterization in support of the application. The Company plans to advance the BRM project in a phased approach wherein the Company will initially process mineralized copper bearing material from a surface stockpile. Subsequently, the Company plans to resume mining from the underground which has been maintained in a dewatered condition since 2010."
About Canadian Critical Minerals Inc.
CCMI 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 (>1.3 billion 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, the closing of the Private Placement, 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, approval of the TSX Venture Exchange, 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.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
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