• Thu. Jun 23rd, 2022

Canadian Silver Hunter Launches Strategic Critical Minerals Initiative and Begins Reconstruction of Production and Drilling Data at Keeley Frontier Silver and Cobalt Mine, Silver Centre, Cobalt, Ontario

ByDebra J. Aguilar

May 17, 2022

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 recent Strategy on Critical Minerals Budget 2022, which includes up to $3.8 billion to implement Canada’s first Critical Minerals Strategy, that the company has begun to assimilate all recent and historical data on production, drilling and development on its exclusive Silver Center property, with plans to maximize the property’s mineral potential that makes economic sense in and for the new program.

Key proposals in Canada’s Budget 2022 supporting critical mining projects in Canada include incentives that directly impact the CSH, including:

  • Up to $1.5 billion over five years for infrastructure investments that would support the development of critical mineral supply chains, with a focus on priority deposits.

  • Introduction of the new Critical Mineral Exploration Tax Credit of 30% 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 semiconductors , and waived flow-through investors.

  • The tax credit would apply to qualifying materials including nickel, lithium, cobalt, graphite, copper, rare earth elements, vanadium, tellurium, gallium, scandium, titanium, magnesium, zinc, platinum group metals and uranium.

  • The Critical Mineral Exploration Tax Credit would apply to renounced expenditures under qualifying flow-through share agreements entered into 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 silver and cobalt mining was only recorded for a few years and was never seriously considered as an additional source of revenue. Nickel is one of the sought-after “critical metals” in high demand for the battery technology revolution, and with the price of nickel rising significantly in recent months, the Company will pay close attention to its presence in the data and on property to determine its role and potential in future exploration of the property.

Mine

Canton

Tons
strawberry

Ag(oz)

Co (lbs)

Ni (lb)

Cu (lbs.)

Years of manufacture

*Keeley and Frontier Mines

South Lorraine

332,000

19,197,413

3,310,556

26,501

**10,292

1908-1965

*NI 43 101 Technical Report, Keeley Frontier; GA Harron, June 2011;** historical

Historically, the Keeley and Frontier mines were developed and operated as separate mines and then integrated in 1961. From 1908 to 1965, the Keeley-Frontier mine produced a total of 19.19 million ounces of silver at recovered grade of 58 ounces per ton, and over 3.31 million pounds of cobalt at a recovered grade of 0.5% or 3.3 pounds per ton. The Keeley-Frontier also had the best cobalt-to-silver ratio of any major historic camp mine. This suggests that there may be other areas rich in silver and cobalt that were not targeted or exploited during mining.. (Source: WH McIlwaine, 1970).

The Keeley-Frontier mines at Silver Center are the cornerstone of CSH. CSH’s objective is to unlock the property’s current cobalt and silver potential with a systematic approach aimed at realizing the full extent of silver, cobalt and other mineralization on the property. We believe that modern methods of deeper exploration and mining have the potential to unlock value across the property. The Silver Center region and the Keeley-Frontier property in particular is a key part of the company providing optimized access to the silver and cobalt market to help meet growing domestic and global demand. » Jeff Hunter, President and CEO, CSH Inc.

The content of this press release has 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 mining exploration company focused on the exploration for silver, cobalt, nickel, copper and gold in Ontario and Quebec. The Company currently wholly owns three properties: the Keeley Frontier Silver Center property, located near Cobalt, Ontario; the Lac Lachance property, located near Lebel sur Quevillon, in the Lac Windfall region of Quebec; the Dark Horse and Whiteside properties located in West Timmins, Ontario, and has the option to acquire a 100% interest in the Lost Dog property, located near Timmins, Ontario. For more details on the company’s projects, please visit the company’s website at www.canadiansilverhunter.ca.

For more information please contact:
Jeffrey Hunter
President and CEO
(416) 707-4230
jhunter@cshi.ca

CAUTION: 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 contained in this press 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, some of which are beyond the Company’s control, including, but not limited to, the impact of general economic conditions, industry conditions, dependence on approvals regulations and commodity prices. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking information. The parties undertake no obligation to update any forward-looking information, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124323