Insider Brief
- Granite Creek has secured $2.28 million in funding from Natural Resources Canada’s Energy Innovation Program to support a carbon capture and mineral extraction project.
- The initiative, led by Kemetco Research Inc., will develop and test technology for extracting critical minerals from ultramafic rocks while enhancing carbon sequestration.
- Granite Creek’s Star Ni-Cu-PGE project in British Columbia will provide material for the research, positioning the company at the forefront of sustainable resource development and carbon management.
PRESS RELEASE – Granite Creek Copper has announced 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.
