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Canadian North Resources Inc.

  • Stand: MZ53
  • Location: Canada
  • Tickers: TSXV:CNRI
  • Other Commodities: PGMs
  • Project Stages: Development, Exploration

Canadian North Resources Inc.(TSX.V CNRI) is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km2 of mining leases (96.9 km2) and surrounding exploration claims (156.9 km2) in the Kivalliq Region of Nunavut, Canada. The Ferguson Lake Project boasts substantial high-grade mineral resources with remarkable expansion potential, situated in Canada, a geopolitically stable region known for its stringent environmental standards positioning CNRI perfectly to cater to the escalating demand for critical minerals as the world shifts towards clean energy and carbon neutrality. The Ferguson Lake mining property contains substantial resources in compliance with NI43-101 standards, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. CNRI successfully completed 18,144 meters of drilling in 2022, establishing a clear trajectory to meet its 20,000-meter drilling objective for 2023. Leveraging the invaluable insights from these drilling efforts, they are advancing and refining their 43-101 technical resource report—a pivotal stride towards achieving its milestone of completing a pre-feasibility in 2024. Over a $175M has been invested in exploration, metallurgy and infrastructure consisting of a 825m gravel airstrip, a 55 person all-year camp, a satellite network and onsite operational field/ heavy equipment.

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