Metals & Mining News

Critical Minerals acquires rare earth element property in Canada


Critical Minerals Americas Inc., a private Canadian corporation, has announced the acquisition of a 100% interest in the approximately 800 km2 SBH property. The property consists of Alberta Rock-hosted Mineral Permits over metals enriched black shales in the Athabasca region, Alberta, Canada.

Approximately US$12 million of historic exploration has been completed over the area to date, leading to the discovery of three large mineralised zones in metals enriched black shales on the property, extending over tens of square kilometers, carrying recoverable Mo-Ni-U-V-Zn-Cu-Co-U-Th-REE-Li-Sc.

The mineralised zones are partly drill confirmed and include some historic inferred resources. Historic prior work indicates that they would be amenable to high volume free-dig open cast operation relying on large scale bioheapleaching for the collective recovery of all of the metals, minerals and REE’s.

The metals recovery processes envisaged provide significant collateral regional environmental benefits to the adjacent oilsands region offering significant environmental solutions to mitigate waste sulfur and CO2 emissions from current operations.

Denis Clement, President and CEO of the Company, said:

“We are pleased to launch the Alberta black shale projects to advance development of historic discoveries previously made on the property. These projects hold good potential for a long-term domestic supply of critical minerals, metals, REE, Li and Sc, that will contribute to potential solutions for the current Critical Minerals and REE supply chain crisis.”

The company is completing a review of all prior exploration records from the property and is proceeding toward updating historic NI-43-101 resource studies for discoveries previously made on the property. This work includes updating of metals processing procedures formulated by prior engineering studies to incorporate technological advances since the property was last explored in 2014.

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