TSX-V-listed Canadian Critical Minerals (CCMI) has received additional revenues from the sale of stockpiled copper, gold and silver mineralised material at the Bull River mine (BRM), in British Columbia.
The company has trucked 897 wet metric tonnes (wmt) of material to New Afton under an ore purchase agreement and received a provisional payment of about $66 000 for the February shipments.
To date, CCMI has trucked 977 wmt of mineralised material from BRM to New Afton. The company temporarily suspended trucking following the imposition of road restrictions in the last week of February.
The firm says it will resume trucking once road restrictions of 70% of normal loads – imposed about two months earlier than normal because of mild winter conditions in the Cranbrook area – are removed.
There are about 45 000 t of mineralised material on surface that have been screened and crushed. To date, no mineralized material has been sent to the Steinert KSS 100 ore sorter pending commissioning by Steinert personnel.
Steinert personnel arrived at the BRM on Tuesday, and have begun the commissioning process with BRM personnel. Once the ore sorter is commissioned, the company will begin sending coarse mineralised material to the ore sorter for up-grading prior to trucking to New Afton.
The company expects that 40% to 50% of the coarse material is non-economical and only the higher-grade material will be sent to New Afton.
Fine material will not be sent to the ore sorter.
"The receipt of additional revenues from the Bull River mine is encouraging for the company. While the revenues remain modest, we have successfully implemented the ore processing agreement with New Afton and we look forward to completing the commissioning of the ore sorter.
“Revenues for the company are expected to increase by sending high-grade, pre-concentrated stockpiled material to New Afton,” says president and CEO Ian Berzins.