Clean Air Metals Announces Drilling Program at Thunder Bay North
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Clean Air Metals Announces Drilling
Program at Thunder Bay North
Thunder Bay, ON, August 6, 2024 – Clean Air Metals Inc. (“Clean Air Metals” or the
“Company”) (TSX.V: AIR; FRA: CKU; OTCQB: CLRMF) is pleased to announce an
upcoming 1,600-metre drilling program at its Thunder Bay North Critical Minerals
(“TBN”) project (the ‘Project’) (14.0 Mt Indicated resource 1.31g/t Pt, 1.37g/t Pd, 0.41%
Cu, 0.25% Ni – NI 43-101 dated June 19, 2023 ). The program is comprised of up to
ten short holes (100 to 185 metres in depth) that will target near-surface high-grade
zones within the Current deposit to better define their lateral continuity and tonnage
potential. Drilling is expected to start in early August.
Significance of High-Grade Mineralization in the TBN Deposits
The Company’s new technical leadership team has completed a detailed assessment of
existing geological and geophysical data and resource models for the Project. The key
findings of this review are:
• The known high-grade intersections at TBN have a regular periodicity that the
Company believes are related to flow processes similar to those associated with
alluvial gold deposits.
• Applying a tighter drill spacing within these high-grade areas could result in an
increased tonnage and grade.
• High-grade ‘plums’ within both deposits are not easily detectable with available
geophysical data, and there is an opportunity to improve data density and
depth of penetration.
To better understand the importance of these high-grade areas in terms of their size
and potential impact on the project economics, the Company plans to drill a series of
tightly spaced holes into three shallow and readily accessible high-grade areas at the
Current deposit, as shown in Figure 1. Each target has a single, existing high-grade
intersection. These include:
• 5.02 g/t Pt, 4.84 g/t Pd, 1.18% Cu and 0.56% Ni over 51 m from 85 m in hole
BL10-326
• 4.20 g/t Pt, 3.80 g/t Pd, 0.85% Cu and 0.39% Ni over 23.5 m from 123.5 m in
hole BL10-328
• 4.87 g/t Pt, 4.44 g/t Pd,1.17% Cu and 0.56% Ni over 19 m from 155 m in hole
BL09-155
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Figure 1. Plan view of the targeted area for the drill program (red dashed line)
within the Bridge Zone of the Current Deposit
Results from the new drilling will be used to develop both an exploration program
designed to potentially discover new high-grade zones and a resource delineation
program to potentially increase the resources contained in these high-grade areas.
They will also help guide the location for a potential bulk sample(s) pending the
submission and approval of an Advanced Exploration permit.
Clean Air Metals’ CEO Mike Garbutt commented “New insights provided by Vice
President of Exploration Dr. Lionnel Djon and director Dr. David Peck has led to a
refinement to the geological template for the TBN deposits. The upcoming drilling
program is a critical step in the Company’s plan to significantly improve the TBN project
economics by fully defining the highest value mineralization within the Current and
Escape deposits.”
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Other Activities
As referenced above, the Company is preparing an Advanced Exploration application
for the project, representing the first stage in the Provincial mine permitting process.
The Company has already applied (July 2022) to convert some of the TBN property
claims into a mineral lease (approval pending). The Company has also contracted
Sisprobe to complete a passive seismic survey designed to provide a much better
definition of the mineralized basal contact and to potentially map out larger sulphide
trap sites (i.e., new high-grade ‘plum’ targets) at this contact in the large and untested,
down-plunge target area at the Escape deposit. The Company also continues to
evaluate complementary copper- and platinum metal-rich assets in the province.
About Clean Air Metals
Clean Air Metals is a development and exploration company advancing its flagship,
100% owned Thunder Bay North Critical Minerals (“TBN”) project, 40 km northeast of
Thunder Bay, Ontario. The TBN project, accessible by road and next to established
infrastructure, hosts two (2) deposits - the Current and Escape deposits, only 2.5 km
apart. Together, the deposits host a 14.0 Mt indicated mineral resource containing
2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario Canada,
NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for
expansion down-plunge.
One of the rare primary platinum resources outside of South Africa, the TBN project is
in a stable and mining-friendly jurisdiction and benefits from longstanding relationships
with local First Nations. With its proven technical team, Clean Air Metals is committed
to growing the resources at the TBN project and creating long-term value for
shareholders.
Social Engagement
Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project
is located within the area encompassed by the Robinson-Superior Treaty of 1850 and
includes the territories of the Fort William First Nation, Red Rock Indian Band,
Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals
also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the
Red Sky Métis Independent Nation to the rich history of our area.
The Company appreciates the opportunity to work in these territories and remains
committed to the recognition and respect of those who have lived, travelled, and
gathered on the lands since time immemorial. Clean Air Metals is committed to
stewarding Indigenous heritage and remains committed to building, fostering and
encouraging a respectful relationship with First Nations, Métis and Inuit peoples based
upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of
reconciliation.
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ON BEHALF OF THE BOARD OF DIRECTORS
"Mike Garbutt"
Mike Garbutt, CEO of Clean Air Metals Inc.
Connect with us on X/ Facebook/ Instagram.
Visit www.cleanairmetals.ca for more information or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note
The information contained herein contains "forward-looking statements" within the
meaning of applicable securities legislation. Forward-looking statements relate to
information that is based on assumptions of management, forecasts of future results,
and estimates of amounts not yet determinable. Any statements that express
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance are not statements of historical fact and may be "forward-looking
statements." Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from those reflected in
the forward-looking statements, including, without limitation: political and regulatory
risks associated with mining and exploration; risks related to the maintenance of stock
exchange listings; risks related to environmental regulation and liability; the potential
for delays in exploration or development activities or the completion of feasibility
studies; the uncertainty of profitability; risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity of mineral deposits;
risks related to the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses; results of prefeasibility and feasibility
studies, and the possibility that future exploration, development or mining results will
not be consistent with the Company's expectations; risks related to commodity price
fluctuations; and other risks and uncertainties related to the Company's prospects,
properties and business detailed elsewhere in the Company's disclosure record.
Should one or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in
forward-looking statements. Investors are cautioned against attributing undue certainty
to forward-looking statements. These forward-looking statements are made as of the
date hereof, and the Company does not assume any obligation to update or rvise them
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to reflect new events or circumstances except in accordance with applicable securities
laws. Actual events or results could differ materially from the Company's expectations
or projections.