Clean Air Metals Announces New Drill Results from the Escape Lake Intrusion at Thunder Bay North, including 27.9m of 3.39ppm (g/t) Platinum and 4.67ppm (g/t) Palladium, 1.67% Copper, 0.90% Nickel
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Clean Air Metals Announces New Drill Results from
the Escape Lake Intrusion at Thunder Bay North,
including 27.9m of 3.39ppm (g/t) Platinum and
4.67ppm (g/t) Palladium, 1.67% Copper,
0.90% Nickel
Thunder Bay, ON, July 15 , 2020 – Clean Air Metals Inc. (“ Clean Air Metals” or the
“Company”) (TSXV:AIR; OTC:CLRMF) is pleased to announce new assay results from
the drilling campaign currently underway at the Company’s 100% -owned Thunder Bay
North Project (the “Project”).
A webinar discussion of the results will be hosted by Executive Chairman Jim Gallagher
and CEO Abraham Drost at 1pm ET Thursday, July 16, 2020 (details and link below).
The results of four new holes from the Escape Lake Intrusion portion of the Projec t
(“Escape Lake”) comprise follow-up intercepts from those previously announced on June
17 and June 29, 2020 and are part of a 20,000m Phase 1 and 2 drill program (Table 1).
The new tranche of assays includes Drill Hole ELR20-004 which intersected 27.9m of
3.39ppm (g/t) Platinum, 4.67ppm (g/t) Palladium, 1.67% Copper and 0.90% Nickel
from 391.6m-419.5m downhole.
Previously reported Drill Hole ELR20-003 (June 17, 2020) returned an assay interval of
78.9m of 1.66ppm (g/t) Platinum, 2.17ppm (g/t) Palladium, 0.8% Copper and 0.41% Nickel
from 359.5m-438.4m, including 20.0m of 3.3ppm (g/t) Platinum, 4.49ppm (g/t) Palladium,
1.54% Copper and 0.84% Nickel from 395.5m-415.5m downhole.
Abraham Drost, CEO of Clean Air Metals stated that “the newest drill core assays were
obtained by Drill 1 from the southern portion of the Escape Lake Mineralized Zone . Hole
ELR20-004 has delivered the highest platinum , palladium and copper, nickel grades to
date at Escape Lake. We look forward to results next month from the newly added Drill 2
on the northern limits of Escape Lake Zone discovery area.”
Phase 1 drilling by the Company is part of a 15-20 drillhole program of 500-600m each,
nominally on 50m centers designed to outline the full extent of Escape Lake Zone
mineralization (see Figure 1). Phase 2 drilling announced by the Company on June 29,
2020, has now added a second drill to help complete several 50m -spaced sections of
holes on the north end of the Escape Lake mineralized zone, before continuing north to
test the strike extension and mineral tenors of the known magma conduit. Total contracted
drilling commitment is 20,000 metres to date.
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Table 1 New (Highlighted) Assay Results from Holes ELR20 004-007 – Escape
Lake Zone, Thunder Bay North
• All intercepts are estimated to be 95% of true width based on drill hole inclination
• Mineralized intervals calculated at 1 ppm Pt+Pd cutoff
The Escape Lake Zone mineralization is located at a depth of approximately 400m within
the Escape Lake Intrusion (Figure 1). The southern contact of the intrusion appears to be
controlled by the east -west trending Escape Lake Fault, a deep seated splay off the
Quetico Fault Zone sub-province boundary fault. The objective of the ongoing program is
to define the magnitude of the Escape Lake Mineralized Zone and the full strike length of
the mineralized area as a precursor to future calculation of a mineral resource estimate of
the Escape Lake horizon.
Hole ID Company From,
m
To,
m
Length,
m
Pt+Pd
(ppm)
Cu+Ni
(%)
Pt
(ppm)
Pd
(ppm) Cu (%) Ni (%)
11CL0005 RT 387.0 415.0 28.0 5.63 1.52 2.44 3.18 1.11 0.41
11CL0007 RT 392.6 417.7 25.1 6.28 1.87 2.73 3.55 1.24 0.63
11CL0007 RT 420.4 431.2 10.8 2.58 0.87 1.11 1.46 0.55 0.32
11CL0008 RT 387.9 416.0 28.1 7.26 1.83 3.22 4.04 1.36 0.46
11CL0008 RT 419.3 427.3 8.0 3.57 1.08 1.56 2.01 0.74 0.34
12CL0009 RT 391.0 424.4 33.4 7.09 2.26 3.01 4.08 1.49 0.77
12CL0011 RT 378.0 408.0 30.0 3.39 0.86 1.56 1.84 0.63 0.23
12CL0012 RT 387.4 417.0 29.6 4.00 1.32 1.74 2.26 0.81 0.51
12CL0012 RT 423.5 438.1 14.6 2.87 0.99 1.26 1.61 0.71 0.28
ELR20-001 Hole lost in bad ground
ELR20-002 AIR 386.2 416.2 30.0 4.76 1.45 2.07 2.69 0.96 0.49
incl. 391.2 402.2 11.0 7.50 2.30 3.23 4.27 1.52 0.78
ELR20-003 AIR 359.5 438.4 78.9 3.84 1.20 1.66 2.17 0.80 0.41
incl. 395.5 415.5 20.0 7.78 2.38 3.30 4.49 1.54 0.84
ELR20-004 AIR 391.6 424.5 32.9 7.49 2.36 3.16 4.33 1.55 0.81
incl. 391.6 419.5 27.9 8.06 2.57 3.39 4.67 1.67 0.90
ELR20-004 AIR 427.8 436.1 8.3 2.54 0.93 1.11 1.43 0.57 0.36
ELR20-004 AIR 466.9 491.4 24.5 3.26 1.22 1.50 1.77 0.81 0.41
incl. 471.4 476.4 5.0 5.58 1.96 2.54 3.04 1.30 0.66
ELR20-005 AIR 386.7 424.7 38.0 4.28 1.55 1.82 2.46 0.92 0.63
incl. 391.7 410.7 19.0 6.31 2.40 2.62 3.68 1.40 1.00
ELR20-005 AIR 427.7 432.7 5.0 1.87 0.70 0.84 1.03 0.43 0.27
ELR20-005 AIR 464.7 466.7 2.0 1.02 0.42 0.48 0.54 0.23 0.19
ELR20-005 AIR 468.7 480.7 12.0 1.86 0.68 0.86 1.00 0.43 0.25
ELR20-006 AIR 372.1 388.1 16.0 2.96 0.75 1.37 1.59 0.55 0.20
ELR20-007 AIR 388.5 421.0 32.5 3.85 1.10 1.69 2.16 0.75 0.35
incl. 396.5 406.5 10.0 5.93 1.56 2.62 3.31 1.09 0.47
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Figure 1 3D Oblique View – Escape Lake Zone, Thunder Bay North
Investor Update Webinar
Please join Abraham Drost, CEO, and Jim Gallagher, Executive Chairman, TOMORROW,
July 16th, 2020 at 1:00 PM Eastern Time (US and Canada) to discuss the initial results
from the Company’s ongoing drill program, followed by a question and answer period.
Date: Thursday, July 16, 2020
Time: 1:00 pm (EST)
Registration Link:
https://us02web.zoom.us/webinar/register/WN_lgMMjCe8QQm4KIIr1Kt82Q
After registering, you will receive a confirmation email containing information about joining
the webinar. Questions may be asked during the webinar, or can be emailed in
to [email protected]. A replay will be made available on the Clean Air website.
Quality Assurance/Quality Control
Clean Air Metals uses ALS Global (“ALS”), a well-established and recognized mineral
assay and geochemical analytical services company. The Thunder Bay laboratory holds
ISO-9000 accreditation; the Vancouver facility holds ISO-17025 registration.
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Quality assurance and quality control (QA/QC) statistical checks were performed on
original, ALS-certified analytical data for all 8 holes in Table 1. Selected core intercepts
from historic (RT) holes in Table 1 were relogged and resampled and compared with
historic data. Mr. Andrey Zagoskin, P.Geo., Ontario, a Qualified Person u nder National
Instrument 43 -101 and employee of the Company, led the validation exercise and has
approved Table 1 assay results.
All NQ -sized drill core is cut with a diamond -tipped saw blade with half of the core
submitted to ALS f or sample preparation and analysis. Core samples from selected
intervals are individually bagged and tagged, gathered up in larger sealed poly bags and
shipped to the sample prep facility in Thunder Bay, ON under custody of Clean Air Metals’
personnel at all times. Sample preparation is completed at the ALS sample preparation
facility located in Thunder Bay, ON and analysis is completed at the primary ALS assay
laboratory located in Vancouver, B.C.
Clean Air Metals follows a documented quality control procedure for its core assay
sampling program consisting of the insertion of blind blanks, duplicates, and certified
Palladium-Platinum and Copper-Nickel standards into the sample stream. The insertion
procedure results in a minimum of 11% to 12% control sample frequency depending on
the length of the sampled interval.
Gold, platinum, and palladium are analysed using fire assay (FA) with an inductively
coupled plasma mass spectrometry (ICP -MS) finish. Samples with gr ades above the
optimal ICP -MS detection limits are analysed using an optical emission spectroscopy
method (ICP-OES).
Also, thirty-three (33) elements of each sample, including copper, nickel, silver, chromium,
cobalt, and sulphur, are analyzed by a multi -element analytical method using the atomic
emission spectroscopy (ICP-AES) technique following four-acid digestion of the sample.
When samples have grades above the optimal detection limits for this analytical metho d,
they are re-analysed using a high-grade method consisting of either ICP -AES or atomic
absorption spectrometry (AAS) techniques.
Historic Estimate
The Escape Lake Intrusion and magma conduit which is the Company’s present focus in
Phase 1 drilling (Table 1) , appears to be a standalone, separate twin structure to the
Current Lake Intrusion (‘Current Lake’) and magma conduit on the Thunder Bay North
Project on which there exists a historic estimate of 9.8 million Tonnes (Indicated). The
Historic Estimate is from Open Pit and Underground sources (Table 2).
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Table 2: Thunder Bay North – Current Lake Deposit – Historic Estimate (2010, 2012)
The estimate of the Current Lake Deposit at the Thunder Bay North Project is considered
by Clean Air Metals to be historic in nature. No Qualified Person as defined by NI 43-101
has completed sufficient work for the Company to classify the historic estimat e of the
Current Lake Deposit as current and the Company is not treating the historic estimate as
current. The Company's QP has verified the data but no resampling of core or any other
tests on the analytical procedures has been performed by the Company to -date.
Confirming the historic estimate at Current Lake and tradeoff studies on possible
underground mining methods will be a concurrent priority for Clean Air Metals.
Thunder Bay North Open Pit Historic Estimate
The open pit Historic Estimate is reported at a cut -off grade of 0.59 g/t Pt -Eq within a
Lerchs-Grossman pit shell optimized on Pt -Eq. The strip ratio (waste: ore) of this pit is
9.5:1. The platinum -equivalency formula is based on assumed metal prices and overall
recoveries. The Pt-Eq formula is: Pt-Eq g/t = Pt g/t + Pd g/t x 0.3204 + Au g/t x 0.6379 +
Ag g/t x 0.0062 + Cu g/t x 0.00011 + Total Ni g/t x 0.000195 + Total Co g/t x 0.000124 +
Rh g/t x 2.1816. The conversion factor shown in the formula for each metal represents the
conversion from each metal to platinum on a recovered value basis. The assumed metal
prices used in the Pt -Eq formula are: Pt US$1,595/oz, Pd US$512/oz, Au US$1,015/oz,
Ag US$15.74/oz, Cu US$2.20/lb, Ni US$7.71/lb, Co US$7.71/lb and Rh US$3,479/oz. The
assumed combined flotation and PlatsolTM process recoveries used in the Pt-Eq formula
are: Pt 76%, Pd 75%, Au 76%, Ag 55%, Cu 86%, Ni 44%, Co 28% and Rh 76%. The
assumed refinery payables are: Pt 98%, Pd 98%, Au 97%, Ag 85%, Cu 100%, Ni 100%,
Co 100% and Rh 98%.
Thunder Bay North Underground Historic Estimate
The underground Historic Estimate is reported at a cut-off grade of 1.94g/t Pt-Eq. The Pt-
Eq formula is: Pt-Eq g/t = Pt g/t + Pd g/t x 0.2721 + Au g/t x 0.3968 + Ag g/t x 0.0084 + Cu
g/t x 0.000118 + Sulphid e Ni g/t x 0.000433 + Sulphide Co g/t x 0.000428 + Rh g/t x
2.7211. The assumed metal prices used in the Pt -Eq formula are: Pt US$1,470/oz, Pd
US$400/oz, Rh US$4,000/oz, Au US$875/oz, Ag US$14.30/oz, Cu US$2.10/lb, Ni
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US$7.30/lb and Co US$13.00/lb. The ass umed process recoveries used in the Pt -Eq
formula are: Pt 75%, Pd 75%, Rh 75%, Au 50%, Ag 50%, Cu 90%, and Ni and Co in
sulphide 90%. The assumed smelter recoveries used in the Pt-Eq formula are Pt 85%, Pd
85%, Rh 85%, Au 85%, Ag 85%, Cu 85%, Ni 90% and Co 50%. Ni and Co in sulphide
were estimated by linear regression of MgO to total Ni and total Co respectively. The
regression formula for Nickel in sulphide (NiSx) is: NiSx = Ni - (MgO% x 60.35 - 551.43).
The regression formula for Co balt in sulphide (CoSx) is: CoSx = Co - (MgO% x 4.45 -
9.25).
COVID Policy
Clean Air Metals has adopted COVID-19 avoidance and personal protection measures for
its geological staff, drilling contractor and service suppliers. Personnel are required to
maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and
self-isolate or elect to work from home. Management ha d previously eliminated plans for
a camp setup to service a planned di amond drill campaign on the Escape Lake Project.
The Company is aware of Thunder Bay Health Unit guidelines that provide for “mandatory”
self-isolation for returning overseas and inter -provincial travel. The guidelines previously
also “strongly recommended” self-isolation after travel into the Northwest region from other
areas of the Province. Mineral Exploration and Development has been deemed an
essential service in the Province of Ontario
(http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-
remain-open-list-march-23-2020/). The Company has procured the services of a locally
staffed and serviced diamond drilling contractor to complete the Phase 1 and Phase 2
diamond drilling programs.
Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and an
employee of the Company, has reviewed and approved all technical information in this
press release.
Clean Air Metals and its wholly -owned subsidiary Panoramic PGMs (Canada) Ltd.
acknowledge that the Escape Lake and Thunder Bay North Properties are on the
traditional territor ies of the Fort William First Nation , Red Rock First Nation and
Biinjitiwabik Zaaging Anishnabek, signatories to the Robinson-Superior Treaty of 1850.
ON BEHALF OF THE BOARD OF DIRECTORS
"Abraham Drost"
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.
For further information, please contact:
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.
Phone: 807-252-7800
Email: [email protected]
Website: www.cleanairmetals.ca
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Neither the 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 explorat ion; 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 profit ability;
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 e xpenses; 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 an d 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 res ults 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 revise them 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.