STEADRIGHT COMMENCES 43-101 TECHNICAL REPORT ON THE HIGH-GRADE NICKEL COPPER B2 PROJECT
Huntsville ONT., Dec. 15, 2022 (GLOBE NEWSWIRE) — Steadright Critical Minerals (CSE: SCM) (“Steadright” or the “Company”) has commenced its 43-101 technical report on the B2 optioned property agreement with Frederic Bergeron. Whereby Steadright may earn a 100% interest in the property which is comprised of 157 mineral claims (88 km2).
Historical Assessments (not 43-101 compliant) on the property have indicated extensive mineralized zones of 1 kilometre containing Semi-massive to massive sulphides up to 10 meters wide including grab samples taken at the site of Ni-Co-Cu mineralization:
- 1.05 % Ni, 0.13 % Cu, 0.10 % Co
- 0.96 % Ni, 0.10 % Cu, 0.09 % Co
- 0.69 % Ni, 0.62 % Cu, 0.19 % Co
Also associated are hydrothermal veinlets with quartz injections:
- 9.28 % Cu, 18.2 g/t Ag, 0.34 g/t Au
- 2.97 % Cu, 5.7 g/t Ag, 0.29 g/t Au, 0.10 % Ni
These showings (discovered in 2019 by Alain Berclaz and Frederic Bergeron) are easily accessed by well-maintained logging roads and forest trails from the KM92 of the Passes Road (R250 & R251).
As per amended option agreement allows the company to exercise 100% of the B2 mineral claims as follows:
Table 1 – Terms to exercise option agreement
|Within 3 months of Public Listing||–||500,000 shares|
|–||complete 43-101 by April 30, 2023||–||–|
|Within 12 months of the Listing Date||–||$100,000 (share value)|
|Within 24 months of the Effective Date||–||$100,000 (share value)|
Figure 1 – B2 Property Claims 157 total claims
Steadright CEO, John Morgan commented, “We are pleased to be working on the B2 project, although our main priority of interest is focused on our qualifying RAM property near Port Cartier Quebec and we look forward to providing shareholders updates on the B2 project as information becomes available.”
QUALIFIED PERSON (QP) Yves Caron, M.Sc, P.Geo., OGQ #0548 is a Qualified Person as defined by National Instrument 43-101 (“N.I. 43-101”) guidelines and has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Steadright Critical Minerals Inc.
Exploring for a better tomorrow…
Steadright Critical Minerals Inc. is a junior mining exploration company established in 2019 and incorporated in the Province of Ontario. Steadright currently holds an option on its property, specifically in Port Cartier, Gaspe Bay Region of Quebec Canada, accessible by route 138. Steadright’s Quebec project, the RAM Project, is comprised of 4,201 acres. The RAM property is located on a highly prospective geological unit and historically has been under explored for Ni, Co, Cu and precious metals. Steadright also has an option agreement for the B2 Project exploring for Cu, Ag located in the Saguenay-Lac-St-Jean Region of Quebec.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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