Canadian North Resources Inc. (CNRI) is a Canadian mining exploration and development company that owns 100% interest of the Ferguson Lake mining property in the Kivalliq Region of Nunavut, Canada. The property holds major base metals (“BM”; nickel, copper, and cobalt) and platinum group metals (“PGM”; palladium, platinum, and rhodium) mineral deposits held in 10 mining leases (96.9 square kilometres) and surrounding exploration claims (156.9 square kilometres), a total area of 253.8 square kilometers..
The mandate of CNRI is to create shareholder value from the advancement of its Ferguson Lake Project, a significant potential BM and PGM producer. The Ferguson Lake Project holds over 71 million tonnes containing substantial resources of copper (1,402 million pounds, Mlb), nickel (872, Mlb), cobalt (99.9 Mlb), palladium (3.20 million ounces, Moz), and platinum (0.56 Moz). These estimates are for the West Zone and the West Extension Zone that are less than 6 kilometres in length along a 15 kilometre mineralized belt. There are multiple target zones for massive sulphides and distinct low-sulfide zones for PGM mineralization.
The plan is to expand the BM and PGM resource by diamond-drilling exploration for high-grade sulphide zones and low-sulfide PGM-enriched targets along the 15km long mineralized belt and other targets to expand metallurgical testing, to update the technical report, and to advance the project to preliminary economic assessment (PEA) and feasibility studies. These work plans are scheduled through 2022-23 with expectations for dedicated definition drilling, environmental studies plus metallurgical testing and development activities into 2024 and beyond.
Canadian North Resources Inc. was incorporated in 2013 pursuant to the provisions of the Business Corporations Act (Ontario) under the name“Canadian North Resources and Development Corporation”, which was changed to “Canadian North Resources Inc. ” in 2020. The head office of the Corporation is located at 299 Courtneypark Drive East, Mississauga, Ontario L5T2T6. The registered office of the Corporation is located at 299 Courtneypark Drive East, Mississauga, Ontario L5T 2T6.