Clean Air Metals Inc. [AIR-TSXV; CLRMF-OTCQB] reported new assay results from drilling under way at its Thunder Bay North project from the Escape and Current magma conduit deposits.
The Escape deposit has undergone systematic expansion drilling of nearly 30,000 metres since the maiden indicated resource of 505,369 ounces palladium equivalent (3.67 g/t PdEq in 4.28 million tonnes reported January 20, 2021). The Current deposit, 2.5 km to the east, has a well-defined Indicated Mineral Resource of 1,328,789 PdEq ounces (3.44 g/t PdEq in 11.99 million tonnes).
New assays from the Escape deposit include hole ELR21-085, which intersected 16.1 metres grading 4.20 g/t PdEq composed of 1.58 g/t platinum, 1.27 g/t palladium, 0.52% copper and 0.31% nickel.
New assays from the Current deposit include hole CL21-021, which intersected 8.6 metres grading 5.10 g/t PdEq composed of 2.22 g/t platinum, 2.10 g/t palladium, 0.45% copper and 0.31% nickel from 151.0 to 159.6 metres downhole, including 2.6 metres grading 9.80 g/t PdEq composed of 4.07 g/t platinum, 4.03 g/t palladium, 0.88% copper and 0.65% nickel from 155.0 to 157.56 metres downhole. Refer to company press release for complete assays.
Metallurgical optimization studies continue with Blue Coast Research of British Columbia. The results of the metallurgical studies on drill core-derived bulk sample material and independent analysis of smelter recoveries and smelter payables are expected to input directly into a preliminary economic assessment (PEA) mine cash flow model planned for publication in the fourth quarter of 2021.
Abraham Drost, CEO, stated: “The present round of assay results from the Current deposit (CL holes) confirm continuity of mineralization between sections along the trend of mineralization, at the Lower Bridge and Upper Beaver Lake zones. Earlier assays from this round of drilling at the Current deposit have already been incorporated into a mean stope optimizer (MSO) mine planning algorithm for the upcoming PEA.
“The results from highlight hole ELR21-085 in the Escape deposit (ELR holes) appear to demonstrate increasing grade on the eastern edge of the historic Steepledge South resource area, 700 m north of the Escape South high-grade zone. The drilling plan for Steepledge South is coming into prominence here with 20 plus holes laid out for completion in Q4 and possibly into Q1 22.”
Clean Air Metals and its wholly owned subsidiary, Panoramic PGMs (Canada) Ltd., acknowledge that the Thunder Bay North project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishinabek. The parties together are the co-operating participants in a memorandum of agreement dated Jan. 9, 2021.
Clean Air Metals’ flagship asset is the 100%-owned, high-grade Thunder Bay North project, a platinum, palladium, copper and nickel project located near the city of Thunder Bay, Ontario, and the Lac des Iles mine owned by Impala Platinum. The Clean Air Metals project hosts the Current Lake deposit and magma conduit and the company is actively exploring the Escape Lake deposit, a twin structure to the Current Lake deposit.