Steadright Signs LOI for Purchase of 94 Claims Contiguous to the High-Grade Nickel Copper Cobalt Pgm Ram Project
March 30 - Huntsville ON - Steadright Critical Minerals (CSE:SCM) ("Steadright" or the "Company") is pleased to announce that it has signed a Letter of Intent (LOI) for the purchase of 94 mineral claims called the RAM Nord, which is contiguous to the RAM project near Port Cartier, Québec, pending shareholder approval.
Steadright will compensate the vendor 2,200,000 common shares, the current property mineral rights holder, 2615153 Ontario Inc. along with $15,000 for staking and incidental costs, to own 100 percent of the mineral rights subject to shareholder approval of Steadright shareholders in an upcoming Special AGM meeting.
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The RAM project has a strike length of over 9km on the "Main Block" area and a 2km splay with both up to 500 meters wide and open at depth. The entire strike length currently contains, "Drill Ready" targets based on the alignment of the magnetic, gravity, ground and airborne EM anomalies coincident with identified geological targets.
As reported by Marum Resources and Ressources Appalaches, March 13, 2003, in the Canadian Mining Journal, "These results and those of earlier drill programs have identified a low-grade, Nickel-Copper system from surface to a vertical depth of 150 meters and measuring 500 meters by 200 meters based on historical press releases). The system is characterized by several zones over 20 meters thick that are possibly related to a 60-meter-thick zone defined by earlier drilling. Overall, the massive sulphide zone intersects vary between 0.25-0.75 % Ni (Nickel) and 0.20-0.47 % Cu (Copper)".
In the REPORT ON MINERAL EXPLORATION ACTIVITIES IN QUEBEC DV 2003-02, Marum Resources and Ressources Appalaches also reported "the massive sulphide zones with up to 1.2 % Ni, 1.6 % Cu, 0.13 % Co, and 0.4 g/t Pt, were reported. On the Main Grid, located on the same property, four out of eight drill holes intersected nine mineralized zones, from 4 to 65 m thick, containing massive sulphides and yielding grades up to 1.6 % Ni, 1.5 % Cu, 0.18 % Co, and 0.2 g/t Pt were reported". In addition, the report states, "these drill results confirm that the B-20 property (RAM) hosts an important Ni-Cu system located near surface, with significant cobalt and platinum group element concentrations". Steadright press release January 24th, 2023.
The Last closing price of Steadright Critical Minerals was $0.13 per common share.
John Morgan, CEO of Steadright comments, "We are pleased to be adding 94 mineral claims to the 33 current mineral claims on the highly prospective Nickel, Copper, Cobalt, PGM RAM property near Port Cartier, Quebec. With unprecedented interest in Nickel, Copper, Cobalt PGM's Steadright is in a very favourable position with a growing land package that encapsulates a District scale with over 9km in strike length and a 2km splay from surface in the best location for future open pit mining operations."
ON BEHALF OF THE BOARD OF DIRECTORS
Steadright Critical Minerals Inc.
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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