Canadian North Resources Inc. reports strong financial results and progress on Ferguson Lake Project.

From GlobeNewswire: 2024-08-27 08:00:00

Canadian North Resources Inc. filed a new National Instrument 43-101 Technical Report for the Ferguson Lake Project, showcasing high-grade Mineral Resources. 80% of Indicated Mineral Resources are Open Pit, solidifying the potential for a large mine. Planned geophysical programs aim to uncover new exploration targets with resource expansion opportunities.

CEO Dr. Kaihui Yang expressed pride in the Ferguson Lake Project’s potential, announcing the filing of an NI 43-101 Technical Report. The report highlights significant Mineral Resources, including 80% Open Pit reserves. Metallurgical testing and community engagement will pave the way for low-carbon mine development at Canadian North Resources Inc.’s project.

The Mineral Resource Statement at Ferguson Lake Project includes substantial mineral reserves, with 80% of Indicated Resources being Open Pit. Canadian North Resources Inc. plans to conduct follow-up metallurgical tests and community engagement initiatives to support low-carbon mine development at the project. Geological and geophysical programs will target resource expansion opportunities.

Canadian North Resources Inc. ended the second quarter with $3,775,557 in cash and cash equivalents. The company provided updates on metallurgical testing and announced an NCIB to repurchase Common Shares. In 2023, the company raised over $17 million for exploration and completed an aggressive drilling program, solidifying the Ferguson Lake Project’s status as a significant critical mineral reserve.



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