Canadian North Resources Inc.
Climate Impact & Sustainability Data (2022, 2023, 2023-03)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environmental monitoring
- Protection of local cultures and historic sites
- Supporting the local community
- Improving corporate governance
Social Achievements
- Supporting the local community
Governance Achievements
- Improving corporate governance
Climate Goals & Targets
Medium-term Goals:
- Remodel the resource estimates with new drilling results
- Expand metallurgical testing
- Update technical reports
- Advance towards pre-feasibility studies
Short-term Goals:
- Expand the current open-pit resources westward and eastward with goal of connecting with the Central Zone in Ferguson Lake
- Define the near surface resources by connecting historic East Zone I and II in Ferguson Lake and to outline the east extension from East Zone I
- Define the potential near-surface resources by stepping out from the historic drill holes
- Define the potential near-surface resources by stepping out from the historic drill holes along the TDEM anomalies
- Drill by stepping out the historic drill holes for potential new resources
Environmental Challenges
- Additional Funding Requirements
- Commodity Price Volatility
- Title to Mineral Properties
- Mineral Exploration
- Country Risk
- Uninsurable Risks
- No Production History
- Infrastructure Risks
- Potential Impact of Climate Change
- Reliance on management
- Environmental Regulation and Liability
- Regulations and Permits
- Potential Dilution
- Competition
- Conflicts of Interest
- Litigation
- Pandemics, Natural Disasters, Terrorism or other Unforeseen Events
- Covid-19
- Conflict between Russia and Ukraine
Mitigation Strategies
- The Company regularly evaluates its cash position to ensure preservation and security of capital as well as maintenance of liquidity.
- The Company’s approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due.
- The Company routinely evaluates various business development opportunities which could entail optioning properties, direct acquisitions, trades and/or divestitures.
- The Company plans to expand the resource by diamond-drilling exploration for high-grade PGM and base metal zones along the mineralization belt, remodel the resource estimates with new drilling results, expand metallurgical testing, run ESG programs, update technical reports, advance towards pre-feasibility studies.
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Unusual weather
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Not disclosed
Social Achievements
- Signed agreement with the Government of Nunavut for exploration support
- Community consultations
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Additional funding requirements
- Commodity price volatility
- Title to mineral properties
- Mineral exploration risks
- Country risk
- Uninsurable risks
- No production history
- Infrastructure risks
- Potential impact of climate change
- Reliance on management
- Environmental regulation and liability
- Regulations and permits
- Potential dilution
- Competition
- Conflicts of interest
- Litigation
- Pandemics, natural disasters, terrorism or other unforeseen events
- Enforcement of judgments against foreign persons or companies
- Conflicts between Russia and Ukraine and between Israel and Hamas
Mitigation Strategies
- Equity financing
- Regular evaluation of cash position
- Investigation of title to mineral properties
- Careful management of exploration expenditures
- Diversification of operations
- Risk management strategies
- Securing additional financing
- Compliance with environmental regulations
- Obtaining necessary permits
- Succession planning
- Environmental monitoring
- Compliance with laws and regulations
- Careful management of share issuances
- Competitive strategies
- Conflict of interest policies
- Legal counsel
- Business continuity planning
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Unusual weather
Transition Risks
- Not disclosed
Opportunities
- Development of energy-efficient products
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2023-03
Environmental Metrics
ESG Focus Areas
- Environmental monitoring
- Protection of local cultures and historic sites
- Supporting the local community
- Improving corporate governance
Social Achievements
- Signed agreement with the Government of Nunavut for $250,000 to support exploration expenditures; $125,000 received by March 31, 2023.
- Ongoing management of the Ferguson Lake Property and Project holdings requires careful attention to the care of the environment, historical artifacts, and local community and socioeconomic relationships.
Climate Goals & Targets
Long-term Goals:
- Commence pre-feasibility and environmental baseline studies, geotech programs and preliminary economic assessments.
Medium-term Goals:
- Expand mineral resources by stepping out drilling along the 15km long mineralized belt.
- Drill test newly identified mineralized areas and pegmatites potentially bearing lithium minerals.
- Carry out geological mapping and geophysical programs.
Short-term Goals:
- Update Mineral Resources Estimates for the Ferguson Lake project with new assay results from completed drill holes.
Environmental Challenges
- Securing additional financing for ongoing exploration and operating activities.
- Maintaining sufficient liquidity to meet liabilities when due.
- Potential downturn in stock market conditions or conditions specific to the Company hindering access to capital market.
Mitigation Strategies
- Regular evaluation of cash position to ensure preservation and security of capital as well as maintenance of liquidity.
- Investing funds not immediately required for expenditure in GICs.
- Seeking additional funds from the exercise of outstanding warrants and options.