Toronto, Ontario--(Newsfile Corp. - January 10, 2023) - Critical Minerals Americas Inc., a private Canadian corporation, announces the acquisition of a 100% interest in the approximately 800km2 SBH Property. The Property consists of Alberta Rock-hosted Mineral Permits over metals enriched black shales in the Athabasca region, Alberta, Canada.
Approximately $12 million of historic exploration has been completed over the area to date, leading to the discovery of three large Mineralized Zones in metals enriched black shales on the Property, extending over tens of square kilometers, carrying recoverable Mo-Ni-U-V-Zn-Cu-Co-U-Th-REE-Li-Sc.
The Mineralized Zones are partly drill confirmed and include some historic Inferred Resources. Historic prior work indicates that they would be amenable to high volume free-dig open pit operation relying on large scale bioheapleaching for the collective recovery of all of the metals, minerals and REEs.
The metals recovery processes envisaged provide significant collateral regional environmental benefits to the adjacent oilsands region offering significant environmental solutions to mitigate waste sulfur and CO2 emissions from current operations.
"We are pleased to launch the Alberta black shale projects to advance development of historic discoveries previously made on the Property. These projects hold good potential for a long-term domestic supply of critical minerals, metals, REE, Li and Sc, that will contribute to potential solutions for the current Critical Minerals and REE supply chain crisis," says Denis Clement, President and CEO of the Company.
The Company is completing a review of all prior exploration records from the Property and is proceeding toward updating historic NI-43-101 Resource Studies for discoveries previously made on the Property. This work includes updating of metals processing procedures formulated by prior engineering studies to incorporate technological advances since the Property was last explored in 2014.
Critical Minerals Americas Inc. is managed by a strong management team with extensive prior familiarity with the Property and operations of the Company.
Mr. Denis A. Clement, B Com LLB. LLM. President, CEO and Director. Mr. Clement has over 30 years international experience in finance, management, M&A and law. Mr. Clement specifically has 8 years' experience on the Company's current Alberta projects.
Mr. John MacKenzie, BSc, B Com, CPA CA, CFO and Director. Mr. MacKenzie has over 30 years of senior management experience in the mining, financial services, aviation and energy services.
Mr. Shahe Sabag, P. Geo, Technical Director, and Director. Mr. Sabag has 45 years' experience in corporate and technical capacities and has directed all prior historic exploration campaigns over the 20-year prior exploration history of the Property.
New developments will be announced as they are completed.
For more information visit www.criticalmineralsamericas.com or contact email@example.com.
About CMAI: CMAI is a private Canadian company incorporated to advance development of long-term domestic supplies for Critical Minerals, Metals, REEs and Li-Sc.
We Seek Safe Harbour.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150893