STEADRIGHT FOLLOWS UP ON DISTRICT SIZE NICKEL-COPPER- COBALT POTENTIAL
Huntsville, ONT., Jan. 23, 2023 (GLOBE NEWSWIRE) —
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Steadright Critical Minerals (CSE: SCM) (“Steadright” or the “Company”) is pleased to announce that Steadright’s exploration team has compiled historical information on the highly prospective RAM project near Port Cartier, Quebec, which is associated with Nickel-Copper-Cobalt mineralization.
The RAM project has a strike length of over 9km on the “Main Block” area and a 2km splay with both up to 500 meters wide and open at depth. The entire strike length currently contains, “Drill Ready” targets based on the alignment of the magnetic, gravity, ground and airborne EM anomalies coincident with identified geological targets.
In a 2003 report published by Geologie Quebec titled, “Report on mineral exploration activities 2002”, the following is stated in an information release contained in the report from Ressources Appalaches, which had part of the RAM mineral claims, previously known as the B-20 property:
“Massive sulphide zones with up to 1.2 % Ni, 1.6 % Cu, 0.13 % Co, and 0.4 g/t Pt, were reported. On the Main Grid, located on the same property, four out of eight drill holes intersected nine mineralized zones, from 4 to 65 m thick, containing massive sulphides and yielding grades up to 1.6 % Ni, 1.5 % Cu, 0.18 % Co, and 0.2 g/t Pt…. According to Ressources Appalaches, these drill results confirm that the B-20 property (RAM) hosts an important Ni-Cu system located near surface, with significant cobalt and platinum group element concentrations.”
On March 19th, 2003, The Canadian Journal reported on the finding of what is presently called the RAM mineral claims:
“These results plus results of earlier drill programs have identified a low-grade, Nickel-Copper system from surface to a vertical depth of 150 meters and measuring 500 meters by 500 meters. The system is characterized by several zones over 20 meters thick that are possibly related to a 60-meter-thick zone defined by earlier drilling. The Massive sulphide zone lying at 150 meters extends into the EM anomalies… Overall, the massive sulphide zone intersects vary between 0.25-0.75 % Ni (Nickel) and 0.20-0.47 % Cu (Copper).”
Geology of B-20 (RAM) Project area showing historic drilling.
Robert Palkovits, V.P. of Exploration for Steadright notes, “Strategically, the geological environment can host deposits such as that found at Voisey’s Bay, NL, or as Talon Resources (TSX: TLO) and Polymet (TSX: POM) in the Duluth Complex situated within anorthositic complexes. These deposits can range from smaller, high-grade deposits to very large low-grade deposits. Based on current data and the shear size of the complex, all options for tons and grade are on the table for what may exist on the property.”
John Morgan, Steadright CEO comments, “Steadright’s World class team of experts in Nickel and Copper has put together a terrific historical compilation, with more information shortly to share. The RAM Ni–Cu–Co project near Port Cartier is gaining significant momentum and is situated in a World class location with access to infrastructure and deep-water ports and is prospective for supporting mining with some of the lowest grades in the industry.”
Mr. Robert Palkovits, P. Geo, a consultant to Steadright, who is a qualified person (“QP”) under National Instrument 43-101 – Standards of Disclosure of Mineral Projects has reviewed and approved the scientific and technical information in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
Steadright Critical Minerals Inc.
Exploring for a better tomorrow…
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Quebec within the Gaspe Bay Region, which is accessible by route 138. The RAM project is comprised of 4,201 acres and located on an Anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni, Cu, Co 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.