Steadright Critical Minerals Closes Private Placement
February 1st - 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, with insiders purchasing 129,000 common shares. Each common share entitles the holder to purchase one full warrant for two years at 0.37 cents.
Proceeds are to go towards general administrative purposes, mineral claim acquisitions and a VTEM survey of the entire RAM Project. The RAM 9km strike length currently contains 'drill ready' targets based on the alignment of the magnetic, gravity, ground and airborne EM anomalies to date, associated with Nickel-Copper-Cobalt mineralization.
The VTEM survey is designed to provide optimized and accurate drill targets relating to these conductive sources, locally over 500m wide and open at depth to over 10km. Also identified is a mineralized splay striking southwest along a significant structure measuring 500m x 500m x 150m located in the Southeast area of the 'Main Block'. (See Figure 1.) Identifying targets of highest priority over such a large complex will advance the project with greater efficiency.
Figure 1: Location of multiple showings on the RAM property, from the "INCO" (VALE) Grid in the West portion of the 9 km block to the high-grade copper-PGE occurrence in the East. The occurrence of higher copper and precious metal tenors in the East may be indicative of mobilization and concentration of copper-PGEs to the eastern area of the block.
Note: The high-grade footwall copper 153 orebody at Vale's Coleman Mine continues to this day to be amongst the highest value orebody in the entire Sudbury complex.
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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
Phone: (647) 637-8608
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 a 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.
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