Canadian North Resources Inc. Drills 21.0 meter at 1.11% Copper, 0.71% Nickel, 0.10% Cobalt, 1.29g/t Palladium, 0.15g/t Platinum and 0.05 g/t Rhodium  and Potentially Extends Near-Surface Nickel and Copper Sulfide Zones for 1,500 Meters Along Strike at its Ferguson Lake Project

Canadian North Resources Inc. Drills 21.0 meter at 1.11% Copper, 0.71% Nickel, 0.10% Cobalt, 1.29g/t Palladium, 0.15g/t Platinum and 0.05 g/t Rhodium and Potentially Extends Near-Surface Nickel and Copper Sulfide Zones for 1,500 Meters Along Strike at its Ferguson Lake Project

 

Canadian North Resources Inc. ("the Company", TSXV: CNRI; FSE:EO0 (E-O-zero)) is pleased to report the geochemical assay results for the remaining 40 holes (of total 68 holes drilled) totalling 10,550 meters (of the 18,144 metres) for the diamond drilling program completed by the Company at its 100% owned Ferguson Lake property ("Ferguson Lake Project") that contains base metals (nickel, copper, and cobalt) and platinum-group metals ("PGM", mainly palladium and platinum).

 

  Highlights of new assay results:  

 
  •   21.0m at 1.11% Cu, 0.71% Ni, 0.10% Co, 1.29g/t Pd, 0.15g/t Pt and 0.050 g/t Rh (hole FL22-470 at 13.0 - 34.0m);  
  •  
  •   9.90m at 0.96% Cu, 0.58% Ni, 0.09% Co, 1.03g/t Pd, 0.17g/t Pt, 0.01g/t Rh and 0.03g/t Au (hole FL22-471 at 47.50 - 57.40m);  
  •  
  •   16.7m at 0.48% Cu, 0.30% Ni, 0.04% Co, 0.55g/t Pd and 0.12g/t Pt (hole FL22-469 at 200.8-217.5m);  
  •  
  •   7.30m at 0.83% Cu, 0.76% Ni, 0.09% Co, 1.31g/t Pd, 0.19g/t Pt, 0.047g/t Rh and 0.028 g/t Au (hole FL22-478 at 39.60 - 46.90m);  
  •  
  •   7.60m at 0.93% Cu, 0.26% Ni, 0.04% Co, 0.74g/t Pd and 0.14g/t Pt (hole FL22-481A at 634.8 - 642.4m);  
  •  
  •   8.43m at 0.64% Cu, 0.30%Ni, 0.04% Co, 0.50g/t Pd, 0.14g/t and 0.06g/t Rh (hole FL22-486 at 122.87 - 131.30m);  
  •  
  •   9.90m at 0.34%Cu, 0.14%Ni, 0.02%Co, 0.33g/t Pd, 0.03g/t Pt, 0.03g/t Rh and 0.20g/t Au (hole FL22-490 at 28.1-38.0m) and   20.3m at 0.36% Cu, 0.24%Ni, 0.03% Co, 0.55g/t Pd, 0.08g/t Pt, 0.02g/t Rh and 0.02g/t Au (at 43.40 - 63.70m);  
  •  
  •   8.50m at 0.80% Cu, 0.63%Ni, 0.08% Co, 1.63g/t Pd, 0.23g/t Pt and 0.01 g/t Rh (hole FL22-492 at 231.0 - 239.5m);  
  •  
  •   6.00m at 0.89%Cu, 0.44%Ni, 0.05% Co, 1.16g/t Pd, 0.26g/t Pt, 0.01g/t Rh and 0.10g/t Au (hole FL22-487 at 60.7 - 66.7m);  
  •  
  •   9.80m at 0.34%Cu; 0.40%Ni, 0.04%Co, 0.66g/t Pd and 0.26g/t Pt, including 3.50m at 0.86% Cu, 1.07% Ni, 0.12%Co, 1.64   g/t Pd, 0.19%Pt, 0.042g/t Rh and 0.02g/t Au (Hole FL22-463 at 191.67 - 201.47m);  
  •  
  •   22.0m at 0.44% Cu, 0.30%Ni, 0.04% Co, 0.57g/t Pd, 0.09g/t Pt and 0.03g/t Rh, including   5.80m at 1.15% Cu, 0.73%Ni, 0.09% Co, 1.37g/t Pd, 0.23g/t Pt, 0.079g/t Rh, and 0.045g/t Au (hole FL22-494 at 28.0 - 50.0m).  
  •  
  •   Of the 68 holes drilled, 27 infill holes confirm the continuity of the known mineralized zones for resource upgrade; and  
  •  
  •   37 expansion holes extend the main mineralized horizon near-surface along strike of the East Zone and the West Zone for a total of up to 1,500 metres along strike outside the block model of the mineral resource estimate (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com) ; and  
  •  
  •   4 holes testing outside the main mineralized horizon demonstrate the mineral potential of the sub-parallel trending Anomaly 51 and M zones located to the southeast of the East Zone.  
  •  
  •   In terms of expansion potential, particularly exciting are the latest results from step-out hole FL22-486 which tested the defined continuous airborne VTEM conductor 800 metres east of the nearest furthest east historic intersection in the East Zone.  
  •  
  •   In summary, these new assays report high assays of up to 10.0% copper, 1.81%nickel, 8.65g/t palladium, 4.43 g/t platinum, 0.186 g/t rhodium, and 2.19 g/t gold, and 49 g/t silver.  
  •  

"We are excited with the additional drilling results that have confirmed the extensions of the mineralized zones outside the recent resource model (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com)" Said Dr. Kaihui Yang, the President and CEO of the Company, "The drilling results to date will expand the block model and significantly enlarge the high-grade and near-surface mineral resources for the potential mine development of the Ferguson Lake Project."

 

"The drilling programs completed to date indicate the potential for further resource expansion at Ferguson Lake." Said Dr. Trevor Boyd, the Vice President for Exploration of the Company, "The results have confirmed the continuity of the mineralized zones and expanded the near-surface mineralized zones along the strike and down dip. These results justify more aggressive drilling programs and engineering work for the Ferguson Lake project in 2023 and beyond."

 

A total of 18,144 meters have been drilled in 68 holes to infill or step out from the historic holes that were previously drilled in the West Zone and the East Zone. The mineralized horizon hosting significant metal grades and widths (>2.5 meters) has been intersected in 62 out of the 68 holes. All the holes hit the mineralized zones as expected, confirming that the mineralized zones extend along strike and at depth beyond the presently defined resource boundaries for a total potential extension of the zones of approximately 1,500 metres. The new assay results are summarized in Table 1. These, together with the assay results released earlier (refer to the news release on September 12, 2022), will be added to the dataset to improve the block model and to update the Mineral Resource estimate that was announced on June 13, 2022 (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com).

 

  West Zone (Figure 1):  

 

In the West Zone, a total of 38 holes were drilled with 15 infilled holes and 23 expansion holes each stepping out 50-100 meters from the previous holes and confirmed the northward down-dip extension of main West and West Extension mineralized zones for 100-200 meters from the recently updated resource model (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com) and its near-surface strike extension to the east and west of the West Zone for a total potential extension of approximately 800 metres.

 

The assay results for those drill holes confirmed the near-surface base metal and PGM massive sulfide zones and the underlying and widening PGM-enriched low sulfide zones. The near-surface sulfide zones are massive sulfide, semi-massive sulfide and disseminated sulfide zone, with variable intersections (up to 31 m) and grades (up to 10.0% copper, 1.81% nickel, 0.40% cobalt, 2.45g/t palladium, 0.50 g/t platinum, 0.186 g/t rhodium, and 2.19 g/t gold, and 49 g/t silver). Gold, silver and rhodium are intermittently enriched along the mineralization zones in the vicinity of ultramafic rocks.

 

The underlain PGM-enriched low-sulfide mineralization is wide with variable intersections (up to 36m) and grades of PGM (up to 8.65g/t palladium, 4.43 g/t platinum). Copper and nickel are low in general for this type of mineralization but enriched in multiple thin layers (usually

 Ferguson Lake Project – West Zone: infill and expansion drill holes completed by the Company.

 

Figure 1: Ferguson Lake Project – West Zone: infill and expansion drill holes completed by the Company.

 

  East Zone (Figure 2):  

 

In detail, 4,675 metres in 26 holes were drilled in the East Zone, with 12 infilled holes and 14 expansion holes along the near surface mineralization that has been historically drilled since the 1950s. The expansion holes were stepped out by 50 to 100 meters each from previous holes and confirmed the strike extension of the mineralization to the west and east of the East Zone for approximately 700 metres. In particular, two drill holes (FL22-486 and 486A) confirmed a new eastern extension of the mineralized zone along the strike about 800 meters from the previous hole (Inco hole 9452). In addition, four holes successfully tested adjacent near-surface satellite mineralized horizons (M-Zone and A51 Zone) to the southeast of the East Zone with encouraging results.

 

The additional assay results for the drill holes confirmed the near-surface massive, semi-massive and disseminated base metal and PGM sulfide zones, with variable intersections (up to 21 m) and grades (up to 4.01% copper, 1.07% nickel, 0.20% cobalt, 2.73g/t palladium, 1.38g/t platinum, 0.10g/t rhodium, 0.25g/t gold, 12g/t silver). The PGM-enriched low sulfide mineralization was also found with variable intersections (up to 11 m in hole FL22-475) and grades (1-2.0 g/t palladium and platinum) beneath the near-surface massive sulfide zone, although all the drill holes were drilled shallow (

 Ferguson Lake Project – East Zone: infill and expansion drill holes completed by the Company.

 

Figure 2 Ferguson Lake Project – East Zone: infill and expansion drill holes completed by the Company.

 

 
Table 1 Selected significant intersections for the drill holes (previously unreleased) at Ferguson Lake

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
Hole From To Width (m) Cu% Ni% Co% Pd g/t Pt g/t Rh g/t Au g/t
FL22-461 111.50 115.50 4.00 0.08 0.09 0.03 0.35 0.13   
Including 114.50 115.50 1.00 0.14 0.28   0.12    1.06   0.27 0.003 0.011
  182.90 186.50 3.60   0.53   0.14 0.02 0.28 0.06   
Including 182.92 183.76 0.84   1.81    0.47    0.06    0.90    0.08    0.026    0.031  
  197.00 203.00   6.00   0.02 0.03 0.01 0.34 0.26   
FL22-462 93.50 96.25 2.75 0.46 0.12 0.03 0.33 0.08   
Including 95.33 95.70 0.37   0.64    0.57    0.16    1.48   0.21 0.022 0.008
  145.30 145.75 0.45   1.27    0.88    0.13    1.63    0.18    0.057    0.011  
  209.00 213.50 4.50 0.02 0.05 0.01 0.45 0.10   
  218.40 221.00 2.60 0.13 0.09 0.02   0.87   0.31   
Including 219.40 221.00 1.60 0.19 0.09 0.02   1.08   0.42 0.005 0.001
FL22-463 138.00 138.50 0.50   0.52   0.19 0.06 0.29 0.13 0.020 0.001
  191.67 201.47   9.80   0.34   0.40   0.04   0.66   0.26   
Including 191.67 195.17   3.50    0.86    1.07    0.12    1.64    0.19    0.042    0.020  
Including 193.67 195.17 1.50   1.11    0.96    0.10    1.57    0.16    0.033    0.023  
  215.00 217.00 2.00 0.31 0.15 0.04 0.31 0.08 0.005 0.001
  248.00 260.00   12.00   0.00 0.03 0.00 0.34   0.93    
Including 248.00 249.50 1.50 0.00 0.03 0.01 0.16   4.43   0.001 0.001
  267.50 269.00 1.50 0.01 0.03 0.01   0.73   0.25 0.001 0.001
FL22-464 207.00 214.30   7.30   0.46   0.44   0.05   0.64   0.15 0.010  
Including 208.36 210.23 1.87   0.33    1.11    0.12    1.17    0.22    0.023   0.005
FL22-465 154.85 155.00 0.15 0.41   1.20   0.05   1.18   0.07 0.005 0.021
  195.80 199.80 4.00 0.31 0.15 0.02 0.33 0.08   
Including 195.80 195.97 0.17 0.06   1.15    0.12    1.09    0.36   0.006 0.011
Including 199.44 199.85 0.41   1.44   0.08 0.02 0.33 0.04 0.003 0.026
  238.50 249.00   10.50   0.01 0.03 0.00 0.44 0.12   
Including 247.50 249.00 1.50 0.00 0.04 0.01   1.75   0.03 0.002 0.001
  255.00 261.00   6.00   0.01 0.03 0.00 0.45 0.19   
  419.80 432.40   12.60   0.02 0.06 0.01 0.48 0.17   
Including 419.77 420.22 0.45 0.10   0.56   0.07   2.41   0.03 0.002 0.002
Including 432.00 432.40 0.40 0.19 0.04 0.01   8.19   0.50 0.001 0.015
FL22-466 195.50 203.00   7.50   0.13 0.05 0.01 0.35 0.10   
Including 196.06 196.30 0.24   2.00    0.34    0.03    0.83    0.14    0.010    0.031  
  219.00 221.00 2.00 0.02 0.03 0.01   2.65    0.85    
Including 220.00 220.60 0.60 0.06 0.03 0.01   8.65    2.76   0.001 0.004
  237.50 239.50 2.00 0.02 0.07 0.01 0.40   0.63    
  253.00 257.00 4.00 0.01 0.04 0.01   0.85    0.43    
Including 254.00 255.00 1.00 0.01 0.04 0.01   1.84    1.32   0.001 0.005
FL22-467 162.00 162.30 0.30 0.41   0.66   0.09   0.99   0.26 0.038 0.039
  203.80 209.00   5.20   0.19 0.10 0.02   0.51    1.04    
Including 203.77 204.02 0.25   2.27   0.10 0.01   0.52   0.17 0.004 0.406
Including 207.50 209.00 1.50 0.01 0.03 0.00   0.87    3.09   0.001 0.001
  254.00 264.00   10.00   0.01 0.04 0.01   1.19   0.20   
Including 257.00 258.50 1.50 0.02 0.04 0.01   4.44    0.84   0.001 0.006
FL22-468 211.00 212.00 1.00   1.30   0.14 0.02 0.24 0.03 0.001 0.032
  242.80 252.60   9.80    0.90   0.11 0.03 0.34 0.03   
Including 242.78 244.00 1.22   0.97   0.28   0.15   0.48 0.12 0.009 0.051
Including 252.00 252.63 0.63   10.00    0.27    0.04    2.25    0.16    0.001    0.292  
  282.00 291.00   9.00   0.04 0.06 0.01   0.71   0.28   
Including 282.00 283.00 1.00 0.03 0.08 0.01   2.06    0.87   0.003 0.003
FL22-469 177.00 178.00 1.00 0.11 0.29 0.06   0.53   0.09 0.003 0.013
  185.15 188.80 3.65 0.47   0.70   0.07   0.96   0.17 0.030  
Including 185.15 187.30 2.15   0.69    1.17    0.12    1.57    0.26    0.053    0.025  
  200.80 217.50   16.70    0.48    0.30    0.04    0.55    0.12    
Including 204.00 205.50 1.50   1.02    1.17    0.13    2.16    0.14    0.009    0.022  
Including 214.60 216.00 1.40   1.18    1.12    0.13    1.81    0.18    0.019    0.034  
  253.00 254.00 1.00 0.27 0.16 0.02   0.72   0.13 0.002 0.002
  263.00 266.00 3.00 0.00 0.03 0.01   0.57    1.08   0.004 0.001
FL22-470 13.00 34.00   21.00    1.11    0.71    0.10    1.29    0.15    0.050   
Including 13.00 13.50 0.50   5.41   0.27   0.40    1.63   0.36   0.059    0.101  
Including 17.50 19.50 2.00   0.75    1.04    0.13    1.69   0.01   0.096    0.015  
Including 22.50 24.50 2.00   2.60    0.63   0.08   1.33   0.10   0.065    0.027  
  48.00 52.00 4.00 0.36 0.15 0.02 0.31 0.06   
FL22-471 44.00 45.10 1.10   0.44    0.42   0.05   0.71   0.06   0.022    0.014  
  47.50 57.40   9.90    0.96    0.58   0.09   1.03   0.17   0.010    0.030  
Including 52.00 53.00 1.00   2.85    0.74    0.20    1.45   0.15   0.056    0.078  
Including 55.00 56.00 1.00   1.36    0.80   0.09   1.51   0.11   0.006    0.029  
FL22-472 83.40 87.00 3.60 0.27   0.32   0.04   0.62   0.13   
Including 83.40 84.90 1.50   0.45    0.73    0.08    1.37    0.14    0.043   0.006
  93.50 102.50   9.00   0.17 0.05 0.01   0.85   0.24   
Including 98.00 99.50 1.50   0.86   0.13 0.03   0.52    0.45    0.017    0.023  
  110.00 113.00 3.00 0.41 0.33 0.03   0.68   0.07   
  111.50 113.00 1.50   0.52    0.57    0.05    1.18   0.10   0.036    0.002  
FL22-473 107.60 110.50 2.90 0.45 0.24 0.04   0.54   0.11   
Including 108.80 109.30 0.50 0.18   0.86    0.09    1.45    0.31    0.056   0.007
  151.15 154.45 3.30 0.02 0.02 0.01 0.48 0.29   
FL22-474 183.50 186.50 3.00 0.04 0.04 0.01   0.79   0.09   
  207.50 210.50 3.00 0.01 0.03 0.01   0.59   0.18   
FL22-475 64.10 65.05 0.95   0.75    0.36   0.06   0.68   0.06 0.018 0.020
  114.50 125.50   11.00   0.02 0.08 0.01 0.23 0.30   
Including 114.50 116.00 1.50 0.01 0.03 0.01 0.23   1.55   0.003 0.001
Including 124.90 125.50 0.60 0.18   1.05    0.09    1.72    0.25    0.090   0.009
FL22-476 57.70 74.20   16.50   0.33 0.18 0.02   0.58   0.44   
Including 57.70 58.26 0.56 0.36   0.53   0.06   1.06   0.12 0.029 0.014
Including 61.75 62.25 0.50 0.36   0.43   0.05   1.13   0.24 0.036 0.009
Including 64.05 65.00 0.95 0.57 0.06 0.02   2.73    1.38   0.002 0.021
Including 65.70 66.41 0.71 0.18   0.56   0.06   1.24   0.26 0.032 0.013
Including 68.00 68.32 0.32   4.01    0.70    0.08    1.66    0.38    0.037    0.246  
Including 68.90 69.06 0.16 0.10   1.07    0.11    1.45   0.05 0.011 0.009
Including 72.48 72.98 0.50 0.19   0.86   0.07   1.11   0.23 0.010 0.007
Including 73.67 74.18 0.51 0.47   0.40   0.06   0.71   0.08 0.015 0.016
FL22-477 32.70 48.50   15.80   0.15 0.18 0.03 0.34 0.07   
Including 32.70 33.56 0.86 0.37   0.57    0.11    0.93   0.12 0.045 0.015
Including 40.30 41.25 0.95 0.67   0.94    0.11    1.51   0.17 0.009 0.010
Including 44.10 44.28 0.18 0.06   0.96   0.08   1.30   0.04 0.001 0.008
Including 47.57 48.50 0.93 0.41   0.55   0.08   1.02   0.23 0.005 0.019
  114.20 115.40 1.20   0.76   0.05 0.01 0.03 0.00 0.001 0.101
  130.38 131.10 0.72 0.08 0.29 0.05   0.52   0.00 0.001 0.020
FL22-478 39.60 46.90   7.30    0.83    0.76    0.09    1.31    0.19    0.047    0.028  
Including 39.60 44.00 4.40   1.05    0.98    0.12    1.66    0.24    0.064    0.031  
Including 41.80 42.80 1.00   2.13    0.89    0.11    1.64    0.37    0.066    0.042  
Including 44.27 44.58 0.31 0.48   0.97    0.12    1.85    0.33    0.067    0.029  
Including 45.53 46.27 0.74 0.37   0.90    0.11    1.58    0.22    0.041    0.025  
Including 46.27 46.90 0.63   1.25   0.24 0.03   0.45   0.03 0.014 0.042
  54.20 58.10 3.90   0.65   0.25 0.04   0.46   0.07 0.020  
Including 57.76 58.11 0.35 0.26   0.77   0.07   0.84   0.08   0.059   0.018
  63.50 68.91   5.40   0.26 0.17 0.02   0.30   0.03   
Including 67.15 67.70 0.55   0.58    0.93    0.10    1.33   0.05   0.050   0.014
FL22-479 50.15 53.85 3.70 0.36 0.18 0.02 0.28 0.04   
Including 50.15 50.44 0.29 0.18   0.87    0.10    1.39   0.11 0.008 0.015
Including 51.10 52.66 1.56   0.77   0.08 0.01 0.16 0.05 0.006 0.040
Including 53.50 53.85 0.35 0.06   0.52   0.05   0.55   0.05 0.026 0.010
  115.50 118.00 2.50 0.41 0.19 0.04 0.47 0.12   
Including 116.40 116.95 0.55   1.01    0.65    0.13    1.34    0.21    0.074   0.006
FL22-480 24.50 25.50 1.00 0.20 0.19 0.03   0.51   0.26 0.015 0.013
  32.00 33.50 1.50 0.48 0.08 0.04 0.25 0.40 0.002 0.014
  39.50 41.00 1.50   0.58   0.07 0.01 0.17 0.04 0.008 0.023
  49.50 51.70 2.20 0.46   0.45   0.04   1.02   0.14   
Including 49.46 49.78 0.32 0.30   0.64   0.06   2.23   0.28 0.049 0.024
Including 50.37 50.88 0.51 0.37   0.68   0.06   1.17   0.09 0.017 0.011
Including 51.18 51.70 0.52 0.29   0.79   0.08   1.43   0.28 0.012 0.010
FL22-481A 634.80 642.40   7.60    0.93    0.26    0.04    0.74    0.14    
Including 634.80 635.77 0.97   3.39    0.84    0.10    1.96    0.26    0.109    0.070  
Including 641.00 642.42 1.42   2.43    0.71    0.12    1.88    0.18    0.044    0.058  
  750.00 755.00   5.00   0.07 0.14 0.02   0.63   0.07   
Including 750.00 750.50 0.50 0.13 0.18 0.03   1.23   0.26 0.004 0.009
Including 754.12 755.00 0.88 0.30   0.57   0.06   2.57   0.23 0.012 0.011
  792.00 803.00   11.00   0.03 0.05 0.01   0.48   0.11   
Including 792.00 793.00 1.00 0.02 0.06 0.01   1.01   0.04 0.006 0.011
Including 802.00 803.00 1.00 0.05 0.07 0.01   1.13   0.20 0.002 0.001
FL22-483 66.50 69.50 3.00 0.01 0.03 0.01 0.46 0.24   
  82.50 83.60 1.10 0.40 0.27 0.04   0.55   0.09   
Including 83.30 83.60 0.30   0.52    0.89    0.12    1.57   0.10 0.005 0.016
FL22-484 38.03 45.03   7.00   0.42 0.23 0.03 0.40 0.08   
Including 40.70 41.20 0.50   2.36   0.12 0.02   0.51   0.06 0.035 0.023
Including 43.93 45.03 1.10 0.37   0.80    0.10    1.30    0.20    0.032   0.005
FL22-484A 39.67 41.77 2.10 0.45   0.75   0.09   1.29   0.07   
Including 39.67 40.52 0.85 0.41   1.08    0.13    1.73    0.06    0.151   0.007
Including 40.52 41.28 0.76   0.69    0.78   0.09   1.58   0.11   0.122   0.018
  113.28 114.02 0.74   1.24   0.05 0.01 0.05 0.01 0.001 0.019
FL22-485 26.00 29.40 3.40 0.13 0.20 0.02 0.42 0.07 0.040  
Including 26.80 27.30 0.50 0.29   0.89    0.07    1.34    0.24    0.135   0.005
  FL22-486    122.87    131.30    8.43    0.64    0.30    0.04    0.50    0.14    0.060   
Including 122.87 123.20 0.33   0.51    0.58   0.04   1.08   0.16   0.101   0.009
Including 125.40 125.80 0.40 0.36   0.86    0.11    1.21   0.13   0.146   0.025
Including 126.76 127.45 0.69 0.19   1.12    0.13    1.43   0.07   0.177   0.001
Including 127.45 128.59 1.14   1.78    0.47   0.06   0.84    0.50    0.090   0.028
Including 130.40 131.30 0.90   1.71   0.20 0.03   0.51   0.32   0.052   0.059
  135.54 140.54   5.00   0.28   0.27   0.05   0.55   0.06   0.050   
Including 135.85 136.53 0.68 0.19   1.07    0.12    1.85   0.08   0.184   0.006
Including 140.10 140.54 0.44 0.07   0.39   0.04   0.99   0.10 0.001 0.005
FL22-486A 119.55 120.00 0.45 0.20 0.27 0.09 0.47 0.11 0.004 0.008
  121.80 125.00 3.20 0.26   0.31   0.04   0.58   0.07   0.070   
Including 121.77 122.09 0.32 0.27   0.96   0.10   1.21   0.18   0.117   0.009
Including 122.63 122.88 0.25 0.31   0.79   0.09   2.11   0.23   0.097   0.015
  136.70 139.20 2.50 0.33 0.27 0.04 0.46 0.09 0.010  
Including 136.75 137.72 0.97 0.29   0.56   0.07   0.88   0.12 0.001 0.008
Including 138.98 139.18 0.20   2.12    0.23    0.10    0.84   0.33 0.001 0.050
  192.50 195.10 2.60 0.25 0.04 0.01 0.16 0.04 0.001   0.104  
FL22-487 47.90 54.90   7.00   0.30 0.13 0.02 0.44 0.10   
including 47.86 48.77 0.91   1.37    0.44    0.05    1.20    0.17    0.037    0.062  
including 49.30 49.70 0.40 0.13   0.46   0.05   1.15    0.45   0.022 0.008
including 52.20 53.15 0.95   1.51   0.22 0.08   0.70   0.14 0.005 0.081
  60.70 66.70   6.00    0.89    0.44    0.05    1.16    0.26    0.010    0.100  
including 60.68 61.83 1.15   1.15    0.27    0.04    0.73    0.16    0.017    0.267  
including 63.02 66.70 3.68   1.00    0.63    0.07    1.64    0.38    0.006    0.076  
FL22-488 76.05 76.60 0.55 0.29   0.93    0.10    1.31    0.17    0.087   0.007
  82.50 90.20   7.70   0.30 0.13 0.02 0.34 0.10   
Including 89.44 90.23 0.79 0.29   0.50   0.06   1.12   0.26 0.001 0.013
  95.40 95.55 0.15 0.28   0.52   0.03   0.89   0.18 0.002 0.014
FL22-489 37.60 46.70   9.10   0.28 0.24 0.03 0.45 0.07 0.030 0.060
Including 37.60 38.94 1.34 0.13 0.03 0.01 0.05 0.01 0.001   0.399  
Including 41.45 42.35 0.90 0.26   0.76   0.09   1.54   0.18   0.085   0.017
Including 43.13 44.00 0.87   0.51    0.64   0.09   0.50   0.11   0.075   0.021
Including 44.46 45.10 0.64 0.41   0.58   0.07   1.22   0.16   0.049   0.037
FL22-490 28.10 38.00   9.90   0.34 0.14 0.02 0.33 0.03 0.030   0.200  
Including 28.48 29.00 0.52   1.04   0.20 0.05   0.67   0.05 0.045   0.214  
Including 30.98 31.70 0.72   1.22   0.07 0.01 0.32 0.02 0.012   0.343  
   43.40    63.70    20.30    0.36    0.24    0.03    0.55    0.08    0.020    0.020  
Including 51.89 52.64 0.75 0.39   0.98    0.11    1.78   0.18 0.050 0.011
Including 53.24 53.59 0.35 0.10   1.00    0.11    2.47   0.11 0.056 0.007
Including 63.15 63.66 0.51   0.58    0.71   0.08   1.57   0.18 0.003 0.025
FL22-491 222.90 226.20 3.30   0.66   0.23 0.04   0.63   0.10   
Including 222.90 224.40 1.50   1.24   0.26 0.04   0.96    0.16    0.021    0.053  
FL22-492 41.00 42.00 1.00   0.44   0.01 0.01 0.01 0.01 0.001   0.128  
  231.00 239.50   8.50    0.80    0.63    0.08    1.63    0.23    0.010   
Including 237.73 239.00 1.27   1.72   0.29 0.04   0.87   0.25 0.007 0.046
  241.00 241.80 0.80   0.58   0.20 0.03   0.53   0.14 0.004 0.026
FL22-493 56.35 56.62 0.27 0.38   0.39   0.09   1.43   0.14 0.012 0.032
  66.50 71.10 4.60 0.33 0.27 0.04   0.84   0.11   
Including 66.50 67.00 0.50   1.41   0.06 0.01 0.28 0.01 0.001 0.066
Including 67.50 69.40 1.90 0.28   0.55   0.08   1.66   0.21 0.019 0.008
Including 70.95 71.15 0.20 0.90   0.64   0.04   2.41   0.34 0.007 0.059
FL22-494 15.50 17.00 1.50 0.03 0.02 0.00 0.03 0.00 0.002   2.190  
  28.00 50.00   22.00    0.44    0.30    0.04    0.57    0.09    0.030   
Including 36.64 42.44   5.80    1.15    0.73    0.09    1.37    0.23    0.079    0.045  
  204.50 207.50 3.00 0.11 0.07 0.01   0.51   0.17 0.020  
FL22-498 312.50 320.00   7.50   0.22 0.19 0.02 0.44 0.04   
Including 312.50 313.50 1.00 0.21   0.56   0.06   1.40   0.08 0.018 0.009
Including 318.80 320.00 1.20   1.01    0.30   0.03   0.81   0.09   0.023   0.025
  386.00 389.00 3.00 0.02 0.06 0.01 0.45 0.07   
FL22-499 297.50 300.00 2.50 0.06 0.32 0.03   0.76   0.15   
Including 299.36 300.05 0.69 0.19   0.96    0.08    2.26    0.37    0.023    0.015  
  318.50 320.80 2.30 0.40 0.13 0.03 0.48 0.04   
  320.35 320.85 0.50   1.35    0.44    0.12    2.01    0.19    0.044    0.013  
 

  Quality Assurance and Quality Control (QA/QC):  

 

 Canadian North Resources Inc. has implemented a quality control program for its Ferguson Lake Project to ensure best practice in the sampling and analysis of the drill cores, which includes the insertion of blanks, duplicates, and certified standards into the sample stream. NQ-sized drill core is saw cut with half of the remaining drill core sampled at intervals based on geological criteria including previous historic results, lithology, visual mineralization, and alteration. The remaining part of the core is stored on-site on the property.

 

Drill core samples are shipped by bonded carriers in secured containers and submitted to the ALS Geochemistry Yellowknife, Northwest Territories facility for sample preparation and forwarded to the ALS Geochemistry facility in North Vancouver, British Columbia for geochemical analyses. PGE and Gold analyses are obtained via industry standard fire assay with ICP-AES finish for Au, Pt and Pd and ICP-MS finish for Rh using 30g nominal sample weights. For samples returning greater than 10 g/t follow-up fire assay analysis with a gravimetric finish is completed. Samples are also analysed for 33 trace and major elements by ICP-AES following four-acid digestion. ALS Global quality systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

 

The sampling and QA/QC program were undertaken by Company personnel under the direction and supervision      of Qualified Person Dr. Trevor Boyd, P.Geo. A secure chain of custody is maintained in storing and transporting of all samples.

 

  Qualified Person:  

 

The technical contents of this news release have been reviewed by Dr. Trevor Boyd, P.Geo., a qualified person as defined by Canadian National Instrument 43-101 standards.

 

  About Canadian North Resources Inc.:  

 

 Canadian North Resources Inc. is an exploration and development company focusing on the 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 Nunavut, Canada.

 

The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to "Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, June 13, 2022, Prepared by Elisabeth Ronacher and Jamie Lavigne." filed by the Company to Sedar.com).

 

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.

 

 

 

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Canadian North Resources Inc. Announces Results of Annual General Meeting

Canadian North Resources Inc. Announces Results of Annual General Meeting

 

Canadian North Resources Inc. ("CNRI" or "the Company," TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to announce the voting results for the election of its Board of Directors at its Annual and Special Meeting of Shareholders held on June 18, 2024, in Mississauga, Ontario. A total of 75,369,669 common shares were voted at the Meeting, representing 65.81% of the common shares outstanding (114,527,617).

 

Shareholders approved the re-election of all Directors as listed in the Management Information Circular dated May 28, 2024, and the reappointment of MNP LLP, Chartered Professional Accountants, as auditors of the Company at a remuneration to be fixed by the directors. In addition, the resolution to ratify and approve the Company's Stock Option Plan was passed.

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Canadian North Resources Inc. Reports Financial Results and Operational Update for the First Quarter Ended March 31, 2024

Canadian North Resources Inc. Reports Financial Results and Operational Update for the First Quarter Ended March 31, 2024

 

  Highlights:  

 
  •   Filed the Mineral Resources Statement in compliance with the National Instrument 43-101 Standards that defines the large and high-grade Mineral Resources at the Ferguson Lake Project (Figure 1 and 2). 80% of the Indicated Mineral Resource is Open Pit, which   provides a solid Mineral Resource base for the initial development of a potential large mine.  
  •  
  •   Identified new targets with significant resource upside potential along strike and down dip of the 15 km long main mineralized horizon and on additional zones including M-Zone, A51-Zone, A51 Zone Extension, Small Island and Lake Zone, West Zone South and South Discovery Zone (Figure 1).  
  •  
  •   Planned new metallurgical tests, economic evaluation and infrastructure and environmental studies for low-carbon footprint mine development at the Ferguson Lake Project.  
  •  

Canadian North Resources Inc. ("Canadian North" or the "Company") (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to report its operational and financial results for the first quarter ended March 31, 2024.

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Canadian North Resources Files NI 43-101 Technical Report on the Updated Mineral Resource Estimate for the Ferguson Lake Project in Nunavut, Canada

Canadian North Resources Files NI 43-101 Technical Report on the Updated Mineral Resource Estimate for the Ferguson Lake Project in Nunavut, Canada

 

  Highlights:  

 
  •   Indicated Mineral Resources to 66.1 million tonnes (Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb nickel at 0.47%, 79Mlb cobalt at 0.05%, 2.34 million ounces (Moz) palladium at 1.10 g/t and 0.42Moz platinum at 0.19 g/t.  
  •  
  •   80% of the Indicated Mineral Resources are Open Pit comprising 52.7Mt at 0.65% Cu, 0.43% Ni, 0.05% Co, 0.97g/t Pd and 0.17% Pt.  
  •  
  •   Inferred Mineral Resources of 25.9Mt containing 558Mlb copper at 0.98%, 333Mlb nickel at 0.58%, 40Mlb cobalt at 0.07%, 1.12Moz palladium at 1.43 g/t and 0.21Moz platinum at 0.25 g/t.  
  •  
  •   The Mineral Resources are estimated only for the West, Central and East Zone of the 15km long main mineralized horizon. The potential to identify additional Mineral Resources exists along the strike and down dip of the currently defined Mineral Resources and on satellite zones including M-Zone, A51-Zone, A51 Far Side Zone, West Zone South and South Discovery Zone.  
  •  

Canadian North Resources Inc. ("Canadian North" or the "Company") (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to announce that following the release of the Mineral Resource estimate on March 19, 2024, it has filed its National Instrument 43-101 Technical Report on its 100% owned Ferguson Lake base metal (nickel, copper, cobalt) and platinum-group metals ("PGM", palladium and platinum) Project ("the Ferguson Lake Project" or "the Project"), entitled "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, on SEDAR at http:www.sedar+.com . The Technical Report has also been posted on the Company's website at www.cnresources.com .

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Canadian North Resources Inc. Reports Operational and Financial Results for the Year Ended December 31, 2023

Canadian North Resources Inc. Reports Operational and Financial Results for the Year Ended December 31, 2023

 

  2023 Operational and Project Highlights:  

 
  •   The Company raised over $17 million for exploration, with cash and cash equivalents of $5,540,312 at the year end  
  •  
  •   Completed aggressive exploration programs with 21,126 meters in 47 holes drilled in 2023.  
  •  
  •   Adding results of 39,270 meters in 145 holes of new diamond drilling to the project database for the updated Mineral Resources estimation reported in Q1 2024, which includes:

     
    •   A 172% increase of Indicated Mineral Resources to 66.1 million tonnes (Mt) containing 1,093 million pounds (Mlb) copper at 0.75%, 678Mlb nickel at 0.47%, 79Mlb cobalt at 0.05%, 2.34 million ounces (Moz) palladium at 1.10 g/t and 0.42Moz platinum at 0.19 g/t.  
    •  
    •   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.  
    •  
    •   Inferred Mineral Resources of 25.9Mt containing 558Mlb copper at 0.98%, 333Mlb nickel at 0.58%, 40Mlb cobalt at 0.07%, 1.12Moz palladium at 1.43 g/t and 0.21Moz platinum at 0.25 g/t.  
    •  
  •  

Canadian North Resources Inc. ("the Company", TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to announce the operational and financial results for the year ended December 31, 2023.

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Canadian North Resources Inc. Announces Normal Course Issuer Bid Share

Canadian North Resources Inc. Announces Normal Course Issuer Bid Share

 

Canadian North Resources Inc. ("CNRI" or "the Company," TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) announces that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid ("NCIB") which is proposed to commence on April 10, 2024 and terminate on April 9, 2025 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

 

In the opinion of the Board of Directors of the Company, the market price of the Common Shares does not accurately reflect the value of those shares. As a result, the Company intends to repurchase CNRI's Common Shares that may become available for purchase at prices, which make them an appropriate use of funds of the Company.

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FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

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Cygnus Metals Limited: Issue of Performance Rights

Cygnus Metals Limited: Issue of Performance Rights

 

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued an aggregate of 67,050,000 performance rights ("Performance Rights") to directors, and key employees and consultants, under the Company's Omnibus Equity Incentive Plan ("Plan").

 

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

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Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

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Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

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Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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