Yahoo Finance Canadian Silver Hunter Begins Critical Minerals Strategy Initiative, Commences Reconstruction of Production and Drilling Data on Keeley Frontier Silver Cobalt Mine, Silver Centre, Cobalt, Ontario
Toronto, Ontario--(Newsfile Corp. - May 17, 2022) - Canadian Silver Hunter Inc. (TSXV: AGH.H) ("Canadian Silver Hunter" or the "Company") reports that in light of the recently released Canadian Federal Budget 2022 Critical Minerals Strategy, which includes up to $3.8 billion to implement Canada's first Critical Minerals Strategy, that the Company has commenced assimilating all recent and historic production, drilling and development data on its wholly owned Silver Centre property, with plans seeking to maximize the mineral potential of the property that makes economic sense in and for the new agenda.
Canada Budget 2022 key proposals supporting critical minerals projects in Canada include incentives that directly impact CSH, they include:
Up to $1.5 billion over five years, for infrastructure investments that would support development of critical minerals supply chains, with a focus on priority deposits.
Introduction of the new 30% Critical Mineral Exploration Tax Credit for specified mineral exploration expenses incurred in Canada for specified minerals consumed in the production of batteries used in zero-emission vehicles, clean technology, or semi-conductors, and renounced to flow-through share investors.
The tax credit would apply to eligible materials including nickel, lithium, cobalt, graphite, copper, rare earths elements, vanadium, tellurium, gallium, scandium, titanium, magnesium, zinc, platinum group metals, and uranium.
The Critical Mineral Exploration Tax Credit would apply to expenditures renounced under eligible flow-through share agreements entered after April 7, 2022 and on or before March 31, 2027.
(BDO Canada, April 20, 2022; https://www.bdo.ca/en-ca/insights/industries/natural-resources/federal-budget-implications-for-the-mining-sector/)
The Company is also intrigued by the historically noted value of nickel and copper production on the property. Nickel production as a by-product of the silver and cobalt mining were only recorded for a few years and never seriously considered as an additional source of revenue. Nickel is one of the desired "critical metals" in high demand for the battery tech revolution, and with the price of nickel rising substantially in recent months, the Company will pay direct attention to its presence in the data and on the property to determine its role and potential in future exploration of the property.
Mine | Township | Tons | Ag (oz) | Co (lb.) | Ni (lb.) | Cu (lb.) | Years of production |
*Keeley and Frontier Mines | South Lorrain | 332,000 | 19,197,413 | 3,310,556 | 26,501 | **10,292 | 1908-1965 |
*NI 43 101 Technical Report, Keeley Frontier; G.A. Harron, June 2011;** historic
Historically the Keeley and Frontier Mines were developed and operated as separate mines and later integrated in 1961. From 1908 to 1965, the Keeley-Frontier Mine produced a total of 19.19 million ounces of silver at a recovered grade of 58 ounces per ton, and over 3.31 million pounds of cobalt at a recovered grade of 0.5% or 3.3lbs per ton. The Keeley-Frontier also had the best cobalt-to-silver ratio of all the major historic mines in the camp. This suggests there may be other silver-cobalt-rich areas that were not targeted or exploited during mining. (Source: W.H. McIlwaine, 1970).
"The Keeley-Frontier Mines at Silver Centre is the cornerstone asset of CSH. CSH's objective is to unlock the present-day cobalt and silver potential of the property with a systematic approach intended to realize the full extent of silver, cobalt and other mineralization on the property. We believe that modern deeper exploration and mining methods have the potential to unlock value across the property. The Silver Centre area and Keeley-Frontier property in particular is a key component to the Company delivering leveraged access to the silver and cobalt market to help meet growing domestic and global demand." Jeff Hunter, President and CEO, CSH Inc.
The contents of this press release have been reviewed by Wayne Holmstead, P.Geo, Qualified Person as defined by National Instrument 43-101.
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian mineral exploration company focused on silver, cobalt, nickel, copper and gold exploration in Ontario and Quebec. The Company currently wholly owns three properties: the Keeley Frontier Silver Centre property, located near Cobalt, Ontario; the Lac Lachance property, located near Lebel sur Quevillon, in the Windfall Lake area of Quebec; the Dark Horse and Whiteside properties located in West Timmins, Ontario, and has an option to acquire a 100% interest in the Lost Dog property, located near Timmins, Ontario. For further details about the Company's projects please visit the company website at www.canadiansilverhunter.ca.
For more information please contact:
Jeffrey Hunter
President & CEO
(416) 707-4230
jhunter@cshi.ca
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and commodity prices. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
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