Huntsville, ONT., Jan. 30, 2023 (GLOBE NEWSWIRE) — Steadright Critical Minerals (CSE: SCM) (“Steadright” or the “Company”) is pleased to announce plans for a Versatile Time Domain Electromagnetic (“VTEM”) airborne geophysical survey to be flown over the RAM Mineral claims, which will be conducted by Geotech Ltd. The VTEM survey will assist the Steadright’s exploration team in optimizing numerous drill ready targets on the ‘Main Block’ that has a strike length of over 9km and is open at depth”.
The entire RAM Project 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. Resources Appalaches also identified a mineralized splay striking southwest along a significant structure, measuring 500mx500mx150m, located in the Southeast area of the ‘Main Block’, see Figure 1. Identifying targets of highest priority over such a large complex early will advance the project with greater efficiency.
Multiple showings across the complex from the “Inco” Grid (VALE) on the West to the Vachon showing on the east side indicate various styles of mineralization. The following excerpt from Geologie Quebec “Report on mineral exploration activities in Quebec” for 2001 indicates higher grade copper and associated precious metals identified by Ressources Appalaches on the East portion of the property. The results may indicate that the magmatic complex differentiated higher copper grades and precious metals to the eastern end of the complex, similar to VALE’s Coleman Mine in which the high-grade copper-precious metal deposits migrated into the footwall.
Ressources Appalaches and Marum Resources discovered PGE, Ni, and Cu showings 2 km east of the ‘Main Zone’ on the B-20 property (RAM) and North of the Vachon showing, where grab samples yielded high PGE grades (up to 2.5 g/t). The results reported by Ressources Appalaches reached 1.18 g/t PGE (Pt+Pd), 3% Cu, 1% Ni, and 0.27% Co. The PGE-rich zones are associated with EM conductors. The mineralized zone, taking into account the ‘Main Zone’ on B-20 (RAM), the Vachon showing, and the new showings, has a strike length of more than 4 km.
Ressources Appalaches and Marum Resources also reported the presence of an important EM anomaly at depth, located to the Northwest and along the extension of the showings mentioned above. Geophysical modelling indicates that the body responsible for this anomaly is 300 m long and extends to a depth of 260 m. Geologie Quebec “Report on mineral exploration activities in Quebec” 2001.
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.
John Morgan, Steadright CEO comments, “We are very pleased with the expert exploration team of Steadright and their use of expedient methods to explore this highly prospective and extensive Nickel-Copper-Cobalt claim package. Steadright has, what may be one of the best locations in the World for logistics with a low-cost reliable sources of power, excellent property access and two deep water ports. Based on data so far, we are extremely excited about the potential the project has to offer.”
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
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.
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