Clean Air Metals posts encouraging drill results at Thunder Bay North, Ontario
Clean Air Metals Inc. [AIR-TSXV; CLRMF-OTCQB] reports new assay results from the 2022 drill campaign from the Escape platinum-group-elements-copper-nickel deposit at the 100%-owned Thunder Bay North project 50 km northeast of Thunder Bay, northern Ontario.
New assay highlights from the Escape South deposit area include Hole ELR22-129 which intersected 90 metres grading 1.04 g/t platinum (Pt), 1.33 g/t palladium (Pd), 0.49% copper (Cu) and 0.28% nickel (Ni) from 308.0 metres to 398.0 metres downhole, including 5.0 metres grading 2.38 g/t Pt, 2.99 g/t Pd, 1.12% Cu and 0.62% Ni from 382.0 to 387.0 metres downhole. This intercept hit a structural corridor termed the Sail Zone which transects the eastern edge of the Escape South High Grade Zone (HGZ) and trends in a northwest orientation along the mineralized Escape Deposit trend.
Hole ELR22-131 intersected 29.0 metres grading 1.00 g/t Pt, 1.25 g/t Pd, 0.44% Cu and 0.32% Ni from 334.0-363.0 metres downhole.
Hole ELR22-133 intersected 47.30 metres grading 1.02 g/t Pt, 1.24 g/t Pd, 0.43% Cu and 0.27% Ni from 325.7-373.0 metres downhole.
The Escape Deposit also underwent an additional 37,000 metres of expansion drilling in 2021, which has established continuity between the Escape South HGZ and the Escape North Zone and may add materially to the total Thunder Bay North Project Indicated in-situ mineral resource (effective November 1, 2021) of 8.12 g/t PtEq (Platinum Equivalent) in 14,553,324 million tonnes (reported December 1, 2021).
The company announced a comprehensive mine plan and cashflow model for both the Escape Deposit and Current Deposit as part of a PEA for the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project on December 1, 2021. The related Technical Report was filed on SEDAR on January 12, 2022.
Abraham Drost, CEO, stated that “recent infill drilling on the margins of the Escape South HGZ continues to deliver impressive assay results. Under the results of the recent PEA press release, the Escape South HGZ (>5g/t Pt+Pd) is identified as a high value potential mining area at the base of the Escape Deposit in years commencing in Year 4 of the PEA mine plan, pursuant to the recently delivered PEA technical report.
“The approximately 37,000 metres of previously reported drilling results from the Escape Deposit in 2021 and infill drilling on the PEA mine plan in 2022 will form part of an updated mineral resource for the Thunder Bay North Project to support prefeasibility studies. Assay results to date suggest good continuity of mineralization between sections along the 900-metre trend of mineralization between the Escape South HGZ and Escape North Zone where the PEA Escape deposit underground ramp development encounters the Escape Deposit pay zone at approximately 200m vertical depth.”
Clean Air Metals Inc. 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 Cooperating Participants in a Memorandum of Agreement dated January 9, 2021 and Exploration Agreement signed April 13, 2022.