Steadright Critical Minerals Closes Private Placement
February 1, 2023 – TheNewswire – Huntsville, ONT. – Steadright Critical Minerals (CSE:SCM) (“Steadright” or the “Company”) is pleased to announce the closing of a 0.27 cent private placement for 513,000 common shares in which insiders have purchased 129,000 common shares. Each common share entitles the holder to purchase one full warrant at 0.37 cents for two years.
Proceeds are intended to be used for general administration purposes, acquisition of mineral claims and a VTEM survey of the entire RAM project. RAM’s 9km strike length currently contains ‘drill-ready’ targets based on past alignment of magnetic, gravity, ground and airborne EM anomalies associated with nickel-copper-cobalt mineralization.
The VTEM survey is expected to provide optimized and accurate drill targets related to these conductive sources, which are locally open over 500m wide and at a depth of over 10km. Also identified was a mineralized extension trending southwest along a significant structure measuring 500m x 500m x 150m in the southeast portion of the “Main Block”. (See Figure 1.) Identifying top priority targets over such a large complex will move the project forward with greater efficiency.
Figure 1: Location of multiple occurrences on the RAM property, from the “INCO” (VALE) grid in the western portion of the 9 km block to the high-grade copper-PGE occurrence in the east. The presence of higher copper and precious metal grades to the east may indicate the mobilization and concentration of copper PGEs in the eastern portion of the block.
Note: The high-grade footwall copper-153 orebody at Vale’s Coleman mine is among the highest grade orebodies in the entire Sudbury complex to date.
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 publication release.
ON BEHALF OF THE BOARD OF DIRECTORS
Steadright Critical Minerals Inc.
Telephone: (647) 637-8608
Looking for a better tomorrow…
Steadright Critical Minerals Inc. is a mineral exploration company incorporated in 2019. Steadright currently has an option on its RAM property near Port Cartier, Quebec in the Gaspe Bay region, accessible via Route 138. The RAM project covers 4,201 acres and is hosted on an anorthositic complex hosted in a highly prospective geological unit that has been historically explored for Ni, Cu, Co and precious metals. Steadright also has an option agreement on the B2 project to explore for copper and silver in the Saguenay-Lac-St-Jean region of Quebec.
Neither the Canadian Securities Exchange (the “CSE”) nor its regulatory service provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.