Highlights:
- Expanded bio-metallurgical programs from initial bio-leaching tests indicating metal extraction of 97.86-98.5% nickel and 96.9-97.7% cobalt, with the goal of achieving similarly high recoveries of copper and PGE metals from the Ferguson Lake Ni-Cu-Co PGE Project located in southeast Nunavut, Canada.
- Continued evaluation of multiple metal processing technologies to produce market-ready battery-grade nickel and cobalt compounds, copper and PGE metals from a low-cost, low-carbon footprint mine.
- Working with local governments and indigenous communities for permissions, permits and licenses to conduct environmental baselines studies; communicating with investors, and potential partners to support the future development of the Ferguson Lake Project.
TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) — Canadian North Resources Inc. (“Canadian North” or the “Company”) (TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) is pleased to report its operational and financial results for the second quarter ended June 30, 2025.
Dr. Kaihui Yang, President and CEO of the Company, commented: “In the second quarter, we have expanded the bio-leaching tests to develop a mineral processing flowsheet for the high recovery of nickel, cobalt, copper and PGE for the Ferguson Lake Project. The new tests are focused on the recovery of copper and PGE, in additional to nickel and cobalt, following up the exceptional results of the bio-leaching amenability tests completed in 2024, which indicate very high extraction rates for nickel (97.8-98.9%) and cobalt (96.0-97.7%) plus encouraging initial extractions of Cu of 73.6 -75.4%. The results of the new tests are pending. When proven, this flowsheet can simplify mineral processing, bypassing smelting and metal refining, and it will substantially reduce the capital expenditures needed for mine development, energy consumption, and operating cost for production. We believe that bio-leach extraction is a promising technology for developing a low-cost, low-carbon footprint mine at the Ferguson Lake Project.”
“We have actively communicated with the governmental agencies and local communities for the permissions, permits and licenses to conduct environmental baselines studies, and we have increased our communications with investors for the potential mine development of the Ferguson Lake Project.”
Quarter 2 of 2025 Highlights:
- The Company also engaged in the following activities in the second quarter:
- During the second Quarter, the Company’s team communicated with local governments and communities for the permissions, permits and licenses to start the environmental baseline studies at the Ferguson Lake Project. The Management has increased communications with shareholders, investors and potential strategic partners for the further development of the Company and its Ferguson Lake Project.
- On April 15, 2025, the Company filed its operational and financial results for the fiscal year 2024. During the year, it also publicly disclosed an updated NI 43-101 Mineral Resource Estimate for the Ferguson Lake Project, confirming it as one of the largest and highest-grade copper-nickel-cobalt-PGE deposits in North America. In addition, the Company initiated bio-leaching tests, which achieved …