Canadian Critical Minerals: Advancing Bull River Copper Mine Back to Production
Canadian Critical Minerals (TSXV:CCMI,OTCQB:RIINF) advances two copper projects in tier 1 mining jurisdictions in Canada. The main project is the 100 percent-owned Bull River Mine near Cranbrook, British Columbia with a mineral resource of 135 million pounds (Mlbs) copper. CCMI also owns a 34 percent interest in the Thierry mine at Pickle Lake, Ontario, which has a mineral resource base containing 1.3 billion pounds (Blbs) copper with other metals, including nickel, silver, palladium, platinum and gold.
CCMI plans to restart the Bull River mine and return it to production. The company is currently securing permits to restart the mine at its designed capacity of 700 tons per day (tpd). In the meantime, CCMI has begun selling pre-concentrated copper, gold and silver ore from the surface stockpiles at Bull River through an ore purchase agreement with New Afton.
In April 2024, the company transported 362 wet metric tons (wmt) of mineralized material to New Afton and received a payment of US$72,445 for the shipment. The sale of stockpiles should provide near-term cash flow, which will be used to restart the Bull River mine. The current stockpile at Bull River is estimated at 180,000 tons (or 6.14 Mlbs copper equivalent) valued at approximately C$30 million.
The Bull River project is near Cranbrook, British Columbia and comprises 21 mineral claims covering an area of 10,285 hectares. It is a tier 1 mining jurisdiction with year-round access to the site by paved and all-weather roads, as well as being connected to the BC Hydro hydroelectric power grid. Bull River was a producing mine from 1971 to 1974.
Company Highlights
Focused on restarting the past-producing Bull River mine, currently under care and maintenance.The mine has a current surface stockpile, which is generating revenue for the company, estimated at 180,000 tons (or 6.14 Mlb copper equivalent), valued at ~C$30 million.The Thierry Project is a past-producing copper and nickel mine with excellent infrastructure and year-round access. The current mineral resource estimate indicates 1.3 billion pounds of copper.Given its 34 percent interest in Thierry mine, CCMI can benefit from any positive assay results from the drilling program at Thierry mine completed last year and future exploration.
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