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Canadian International Minerals Inc.
Summary
| Project: | Leduc | |
|---|---|---|
| Deposit: | Leduc | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 9/1/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-9-2016: Canadian International Minerals Inc. announces a Resource Estimation report for its Leduc deposit at the Leduc project. Withdraw of resource estimate - Leduc project has no defined mineral resources. August 26, 2016, Vancouver British Columbia. | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Thomas Hasek (Not stated) | |
| ABSTRACT: | August 26, 2016, Vancouver British Columbia. Canadian International Minerals Inc. (the “Company”) (TSX.V:CIN) announces that as a result of a review by the British Columbia Securities Commission (“BCSC”), the Company is issuing this news release to clarify the Company’s previous disclosures regarding the Leduc project. The Company is expanding on its news release of July 27, 2016 which announced that its report entitled “Technical report, Sturgeon Lake Li-K-B-Br-Ca-Mg-Na oil field brine inferred mineral resource, Leduc property, west-central Alberta,” dated January, 22, 2016 (the “Report”), as filed on SEDAR January 25, 2016, does not comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43- 101”). The Company has sold its Leduc project to Zimtu Capital Corp. as disclosed in the Company’s August 18, 2016, news release. However, the Company specifically retracts the mineral resource estimate for the Leduc project as disclosed under heading 14.0 “Mineral Resource Estimate” in the Report. There are no mineral resources of Li, K, B, Br, Ca, Mg, and Na on the Leduc project. The Company had yet to conduct recoverability testing to extract lithium from the brine, and therefore, the Company is unable to support the mineral resource with an NI 43-101 compliant technical report. Recoverability of lithium from the brine is a key component in establishment of mineral resources and reasonable prospects for eventual economic extraction. The technical report authors concur that further work to demonstrate the recoverability of Li from Alberta oilfield brine is required. The Company anticipates an amended the Report to indicate that there are no compliant mineral resources on the Leduc project. | |
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