Clean Air Metals Intersects 51.79 m Grading 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni Expanding the Near-Surface High-Grade Mineralization at the Thunder Bay North Project
1
Clean Air Metals Intersects 51.79 m Grading 4.92
g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni
Expanding the Near-Surface High-Grade
Mineralization at the Thunder Bay North Project
Thunder Bay, ON, September 10, 2024 – Clean Air Metals Inc. (“Clean Air Metals” or
the “Company”) (TSX.V: AIR; FRA: CKU; OTCQB: CLRMF) is pleased to announce assay
results from the first two (2) holes drilled this summer at its 100%-owned Thunder Bay
North Critical Minerals Project (“TBN”).
Assay highlights include:
• 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni from 86 m
downhole in Hole CL24-001, including
o 11.51 g/t Pt, 10.64 g/t Pd, 2.61% Cu and 1.25% Ni over 9.29 m from
128 m, and
o 25.82 g/t Pt, 24.50 g/t Pd, 6.94% Cu and 3.87 % Ni over 0.97 m from
136.3 m (Massive Sulphides).
• 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni from 118 m
downhole in Hole CL24-003, including
o 12.25m of 5.56g/t Pt, 5.48 g/t Pd, 1.19% Cu, 0.70% Ni, from 123 m.
The recently completed summer drilling program targeted near-surface high-grade
zones within the Current deposit to better define their lateral continuity and tonnage
potential. These initial results confirm that high-grade mineralization extends beyond
what was outlined in the last resource model for this area (NI 43-101 technical report on
the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19,
2023). Results from hole CL24-003, along with adjacent holes, outline a potentially
larger high-grade core within this section of the intrusion than previously evaluated
(Figure 1).
Figure 1. Section showing CL24-003 in the Lower Current Zone and projected
expansion of higher-grade shell.
2
Clean Air Metals’ CEO Mike Garbutt commented, “We are encouraged by this program's
first set of results. These exceptional grades, mineable widths, and near-surface location
support the future development of this buildable asset. We are focused on significantly
improving the TBN project economics by fully defining the highest value mineralization
within the Current and Escape deposits. The initial results from this program have
exceeded our expectations.”
The goal of the program is to target near-surface, high-grade zones of mineralization
and improve both the continuity and total mineral resource within these zones. The
remaining eight (8) holes of the drill program have been completed, and all have
intersected mineralization in four separate targets. The assays on these holes are
pending and will be released when received.
Early Drill Results Outline Improved Continuity
The new technical expertise brought to the project and led by Dr. Lionnel Djon resulted
in a revised geological template for the high-grade areas at Thunder Bay North that
mirrors flow processes similar to those associated with alluvial gold processes. In
employing this template, the first two holes successfully expanded the zone of thick,
high-grade pods along strike in the Lower Current zone. They also provide early “proof
of concept” that increasing data density with tighter drilling could further extend the
continuity of the high-grade mineralized zones within the deposit and contribute to
increased tonnage and grade.
3
Following results from the remaining drill holes of the summer 2024 campaign, the
Company will develop an exploration program designed to discover new high-grade
zones within the Current and Escape deposits and a resource delineation program to
increase the resources contained in the additional high-grade areas that occur at both
the Current and Escape deposits.
The Presence of Massive Sulphides is Significant
Hole CL24-001 intersected 0.97m of massive sulphides (Figure 2) near the base of the
intrusion, in a zone where reduced magma flow and cooling conditions promoted
sulphide settling and metal concentration, leading to the formation of high-grade
mineralization. Past drilling at the Current and Escape deposits has also intersected
pockets of high-grade massive sulphides in similar embayments in the intrusion. These
occurrences demonstrate the potential for these deposits to host additional massive
sulphide, and continued exploration work is needed to identify the feeder zone for this
material.
Figure 2. Massive sulphide core from hole CL24-001.
Drill Results Support the Strategy for Thunder Bay North Project Development
The positive results from this program support our view that both deposits together can
support a smaller tonnage, high-grade and low-capital cost mine plan. The higher-
grade mineralization is spatially distributed in distinct and separable zones that allow
for targeted extraction using traditional open-stope mining methods. This approach
will form the foundation for a future technical study following the results of the next
phase of drilling.
4
To further de-risk that project, the Company is contemplating a move to advanced
exploration that is highlighted by the potential extraction of a bulk sample from the
Bridge zone at the Current deposit. The goal for the bulk sample will be to validate the
high-grade mining approach outlined above, as well as quantify the metallurgical
performance of a toll milling scenario on a larger scale.
Other Activities
The Company received an exploration permit on August 6, 2024, for the other
intrusions located on the claim package – the Lone Island North and South and 025
intrusions. While no work is planned for this area in 2024, the Company is defining a
potential 2025 exploration program there.
Qualified Person
Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101
and Vice President of Exploration for the Company, has reviewed and approved all
technical information in this press release.
Table 1. Hole Coordinates
Hole ID Easting-
NAD83_16
(m)
Northing
NAD83_16
(m)
Elevation
(m)
Azimuth
(deg)
Dip
(deg)
Hole
length
(m)
CL24-001 357553 5402635 491.57 332 -77 162
CL24-003 357682 5402598 495.47 0 90 162
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.
All NQ-sized drill core is cut with a diamond-tipped saw blade with half of the core
submitted to ALS for sample preparation and analysis. Sample preparation is
completed at the ALS sample preparation facility in Thunder Bay, ON, and analysis is
completed at the primary ALS assay laboratory in Vancouver, B.C.
Clean Air Metals follows a quality control procedure for its core assay sampling
program: inserting blind blanks and certified Palladium-Platinum and Copper-Nickel
standards into the sample stream. The insertion procedure follows industry standards
with control sample frequency depending on the length of the sampled interval.
Gold, platinum, and palladium are analyzed using fire assay (FA) with an inductively
coupled plasma mass spectrometry (ICP-MS) finish. Samples with grades above the
5
optimal ICP-MS detection limits are analyzed 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 method, they are re-analyzed using a high-grade assay method with
an ICP finish.
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 13.8 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.
6
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
7
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.