We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian North Resources Inc | TSXV:CNRI | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.95 | 1.05 | 0 | 20:59:56 |
Dr. Kaihui Yang, the President and CEO, commented: ”During this quarter, we filed the new National Instrument 43-101 Technical Report that demonstrates the Ferguson Lake project is one of the highest-grade and largest undeveloped copper, nickel, cobalt, palladium and platinum projects in North America (Refer to “Independent Technical Report on the Mineral Resource Estimate for the Ferguson Lake Project, Nunavut, Canada (“the Technical Report”)”, prepared by SRK Consulting and Ronacher McKenzie Geoscience Inc., effective March 19, 2024, filed by the Company to the System for Electronic Document Analysis and Retrieval (“SEDAR+”) through the Internet at https://www.sedarplus.ca/landingpage/ on May 3, 2024. The Technical Report has also been posted on the Company’s website at www.cnresources.com).”
“The Technical Report indicates the definition of substantial Mineral Resources (Table 1) and 80% of the Indicated Mineral Resource is Open Pit (Figure 1), which provides a solid Mineral Resource base for the initial development of a potential large mine. We are conducting follow-up metallurgical testing, including new technologies such as bio-hydrometallurgy, and have started the Community Engagement programs, reconnaissance access, infrastructure and environmental studies for a low-carbon footprint mine development plan at the Ferguson Lake Project.”
“The Technical Report indicates high potential for resource expansion along the strike and down dip of the 15-main mineralized horizon and within a number of undefined mineralization zones and prospective areas. We have planned the geological and geophysical evaluation programs to identify targets along the confirmed the high-grade mineralized zones at the Ferguson Lake Project.”
Figure 1, Geological map showing mineralization zones. The Mineral Resources incorporate West, Central and East Zones.
Table 1: Mineral Resource Statement*, Ferguson Lake Project, Nunavut, SRK Consulting (Canada) Inc., March 19, 2024
Mineral Resource Statement, Ferguson Lake Project, Canada. SRK Consulting (Canada)., March 19, 2024 | |||||||||||||
Mining Method | Category | Tonnes (Mt) | Grade | Material Content | |||||||||
NSR | Cu | Ni | Co | Pd | Pt | Cu | Ni | Co | Pd | Pt | |||
(US$/t) | (%) | (%) | (%) | g/t | g/t | (Mlbs) | (Mlbs) | (Mlbs) | ('000oz) | ('000oz) | |||
Open Pit | Indicated | 52.7 | 149 | 0.65 | 0.43 | 0.05 | 0.97 | 0.17 | 755.7 | 497.2 | 57.7 | 1,647 | 295 |
Inferred | 4.0 | 159 | 0.65 | 0.50 | 0.06 | 0.88 | 0.17 | 56.7 | 43.4 | 5.3 | 111 | 21 | |
Underground | Indicated | 13.5 | 243 | 1.13 | 0.61 | 0.07 | 1.60 | 0.29 | 336.8 | 181.0 | 21.6 | 692 | 124 |
Inferred | 21.9 | 231 | 1.04 | 0.60 | 0.07 | 1.53 | 0.26 | 501.0 | 289.7 | 34.4 | 1,081 | 184 | |
Total | Indicated | 66.1 | 168 | 0.75 | 0.47 | 0.05 | 1.10 | 0.19 | 1,092.5 | 678.2 | 79.3 | 2,340 | 419 |
Inferred | 25.9 | 220 | 0.98 | 0.58 | 0.07 | 1.43 | 0.25 | 557.8 | 333.1 | 39.6 | 1,192 | 205 | |
Mineral Resource Estimation Notes
Quarter 2 of 2024 Highlights:
For the quarter ended June 30, 2024, the Company reported a net loss and comprehensive loss of $1,227,973 or $0.01 per share.
For the quarter end Financial Statement and Management’s Discussion and Analysis, please see the Company website at www.cnresources.com or on SEDAR.
Qualified Person:
Dr. Trevor Boyd, P.Geo. and Technical Advisor for Canadian North Resources, a qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed the technical content of this news release and has approved its dissemination.
About Canadian North Resources Inc.
Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project in the Kivalliq Region of Nunavut, Canada.
The Ferguson Lake mining property contains a substantial National Instrument 43-101 compliant Mineral Resource Estimate announced on March 19 2024, which include Indicated Mineral Resources of 66.1 million tonnes (Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb nickel at 0.47%, 79.3Mlb cobalt at 0.05%, 2.34 million ounces (Moz) palladium at 1.10gpt and 0.419Moz platinum at 0.19gpt; and Inferred Mineral Resources of 25.9Mt containing 558Mlb copper at 0.98%, 333Mlb nickel at 0.58%, 39.6Mlb cobalt at 0.07%, 1.192Moz palladium at 1.43gpt and 0.205Moz platinum at 0.25gpt. In particular, 80% of the Indicated Mineral Resources is Open Pit with 52.7Mt at 0.65% Cu, 0.43% Ni, 0.05% Co, 0.97g/t Pd and 0.17% Pt, which provides a solid Mineral Resource base for the initial development of a potential large mine. The Mineral Resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt and a number of undefined mineralization zones and prospective areas. (Refer to “Independent Technical Report on the Mineral Resource Estimate for the Ferguson Lake Project, Nunavut, Canada (“the Technical Report”)”, prepared by SRK Consulting and Ronacher McKenzie Geoscience Inc., effective March 19, 2024, filed by the Company to the System for Electronic Document Analysis and Retrieval (“SEDAR+”) through the Internet at https://www.sedarplus.ca/landingpage/ on May 3, 2024. The Technical Report has also been posted on the Company’s website at www.cnresources.com.)
For further information please visit the website at www.cnresources.com, or contact:
Dr. Kaihui Yang, President and CEO
Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)
Email: info@cnresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding the Company’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/062988b1-73df-44c4-8e99-57e6bfe2d378
1 Year Canadian North Resources Chart |
1 Month Canadian North Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions