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Steadright Critical Minerals Inc
Symbol SCM
Shares Issued 13,560,534
Close 2023-09-19 C$ 0.09
Market Cap C$ 1,220,448
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Steadright sends RAM samples for mineral analysis

2023-09-20 15:12 ET - News Release

Mr. John Morgan reports

STEADRIGHT SENDS QUEBEC RAM SAMPLES TO ALS LAB IN SUDBURY FOR CRITICAL MINERAL ANALYSIS

Steadright Critical Minerals Inc. has provided an update on its exploration team efforts with its summer/fall exploration program on the highly prospective RAM project near Port Cartier, Que., which is associated with nickel-copper-cobalt-PGE (platinum group element) mineralization.

The RAM property is a magmatic, mafic to ultramafic sulphide hosting Ni-Cu-Co-PGEs, in a deposit formed by segregation of immiscible sulphide-melt from a silicate-host magma. These deposits evolve via processes such as magma mixing, rapid cooling, differentiation and contamination (sulphur sources).

The first phase of the exploration program which included grab bag samples, channel sampling and prospecting of several sites has concluded earlier than anticipated due to tropical storm Lee that brought heavy rain and steady winds that battered the eastern coast of Canada. Grab and channel samples collected have been sent to ALS Geochemistry lab in Sudbury, Ont., for verification and analysis.

Based on the alignment of the magnetic, gravity, inverted mag airborne, along with ground and airborne electromagnetic identified by Steadright's exploration team, an outline of a small drill program for end of year is being formulated, depending on external factors such as the weather conditions along the Cote-Nord region.

One of the areas being considered for drilling is the zone the Canadian Journal reported on March 19, 2003, on the finding of what is presently called the RAM mineral claims and forms a small part of the 11-kilometre strike.

"These results plus results of earlier drill programs have identified a low-grade nickel-copper system from surface to a vertical depth of 150 metres and measuring 500 metres by 500 metres. The system is characterized by several zones over 20 metres thick that are possibly related to a 60-metre-thick zone defined by earlier drilling. The massive sulphide zone lying at 150 metres extends into the EM anomalies ... Over all, the massive sulphide zone intersects vary between 0.25 and 0.75 per cent Ni (nickel) and 0.20 and 0.47 per cent Cu (copper)."

Robert Palkovits, vice-president of exploration for Steadright, notes, "Based on current data and the shear size of the complex, all options for tons and grade are on the table for what may exist on the property."

John Morgan, Steadright chief executive officer, comments: "I am excited to be verifying some of the historic work and moving the project forward. More information, EM and geophysics needs to be completed on the property. The RAM Ni-Cu-Co project near Port Cartier is situated in a world -lass location with access to worldwide distribution with infrastructure and deepwater ports and is prospective for supporting mining."

Qualified person

Mr. Palkovits, PGeo, a consultant to Steadright who is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects has reviewed and approved the scientific and technical information in this press release.

About Steadright Critical Minerals Inc.

Steadright Critical Minerals is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Que., within the Cote-Nord region, which is accessible by Route 138. The RAM project comprises over 13,000 acres and is located on an anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni, Cu, Co and precious metals.

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