Granite Creek Copper Announces Funding from Natural Resources Canada - Supporting Ultramafic Technology Development Project Targeting the Star Property
VANCOUVER, BC / ACCESS Newswire / February 24, 2025 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) ("Granite Creek" or the "Company") is pleased to announce that, further to its February 05, 2025 news release regarding the Company's participation in a new technology development project, the project has secured funding from Natural Resources Canada ("NRCan"). The project has been approved for total funding up to $2.28 million through NRCan's Energy Innovation Program, under a competitive call for proposals related to Carbon Capture, Utilization and Storage (CCUS) Research, Development and Demonstration.
The project is designed to target ultramafic rocks prospective for nickel and other critical minerals to enhance the economic potential of permanent carbon sequestration. Granite Creek will supply material from its 100%-owned Star Ni-Cu-PGE project located in central British Columbia, which has been identified as including areas with suitable geology for application of the technology.
The technology development project, entitled, "Development of Extraction and Carbonation Technology for Ultramafic Rocks", is being led by Kemetco Research Inc. ("Kemetco") with funding support from Natural Resources Canada. The project will primarily focus on laboratory and pilot-scale development work for a technology aimed at enhanced metal extraction with a high level of carbon sequestration through carbonation of magnesium silicate minerals. As a part of this program, Granite Creek's related site work expenses and analytical costs will be covered under the NRCan funding.
Tim Johnson, President & CEO stated, "We are pleased to receive support from NRCan and look forward to working closely with Kemetco to advance the technology and the development of the Star project. "
"Developing and deploying carbon management technologies needed to achieve Canada's global climate and energy goals is critical. Innovative carbon management projects, like this technology development project from Kemetco, contribute to Canada's economy while helping the environment."
Marc G. Serré Parliamentary Secretary to the Minister of Energy and Natural Resources
About the Star Property
The Star project is located 190 kilometers northeast of Smithers, BC and is within 5 kilometers of the Omineca Resource Road and powerline that served the Kemess Mine. The 2500-hectare project is underlain by ultramafic rocks that are prospective for copper, nickel, cobalt, PGMs and gold as well as carbon sequestration and geologic hydrogen production
LTIP AWARDS
The Company also announces that it has issued 450,000 Performance Share Units to a director of the Company pursuant to the provisions of its Long-Term Performance Incentive Plan.
About Granite Creek Copper
Granite Creek Copper is a focused on the exploration and development of critical minerals projects in North America and more recently on geologic hydrogen. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM plus geological hydrogen project, both located in central British Columbia. Recent acquisitions include the Union Bay geologic hydrogen project as well as entering into a letter of intent to acquire the Duke Island ultramafic project for it's geologic hydrogen potential, both projects located in the state of Alaska. Granite Creek's goal is to be among the companies with first mover advantage in geologic hydrogen exploration by leveraging the considerable geological knowledge available to the company through its existing employee and consultant base plus the addition of key consultants with extensive knowledge in the field. More information about Granite Creek Copper can be viewed on the Company's website at www.gcxcopper.com.
Qualified Person
Mr. Douglas Warkentin, P.Eng., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Warkentin is a Senior Metallurgist with Kemetco Research and an advisor to the Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President & CEO Telephone: 1 (604) 235-1982 Toll Free: 1 (888) 361-3494 E-mail: info@gcxcopper.com Website: www.gcxcopper.com
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.
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