Clean Air Metals Reports 50.7 m Grading 4.52 g/t Pt, 4.38 g/t Pd, 0.99% Cu and 0.53% Ni in Latest Near Surface High-Grade Drilling Results
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Clean Air Metals Reports 50.7 m Grading 4.52
g/t Pt, 4.38 g/t Pd, 0.99% Cu and 0.53% Ni in
Latest Near Surface High-Grade Drilling Results
Thunder Bay, ON, October 3, 2024 – Clean Air Metals Inc. (“Clean Air Metals” or the
“Company”) (TSX.V: AIR; FRA: CKU; OTCQB: CLRMF) is pleased to announce
additional high-grade drilling results from the Current deposit at its 100%-owned
Thunder Bay North Critical Minerals Project (“TBN”).
Assay highlights include:
• 50.7 m of 4.52 g/t Pt, 4.38 g/t Pd, 0.99% Cu and 0.53% Ni (13.74 g/t Pt.eq1;
4.36% Cu.eq2) from 82.0 m downhole in Hole CL24-010, including
o 6.35 g/t Pt, 6.10 g/t Pd, 1.32% Cu and 0.69% Ni over 30.7 m from
102 m,
• 38.4 m of 3.38g/t Pt, 3.26g/t Pd, 0.72% Cu and 0.45% Ni (10.32 g/t Pt.eq1;
3.27% Cu.eq2) from 153 m downhole in Hole CL24-005, including
o 13.2 m of 8.39g/t Pt, 8.09 g/t Pd, 1.75% Cu, 0.95% Ni from 178.2 m.
and;
o 20.40 g/t Pt, 21.00 g/t Pd, 4.20% Cu and 2.18 % Ni over 0.5 m from
188.9 m. (Massive Sulphides)
• 23.3 m of 4.54 g/t Pt, 4.23 g/t Pd, 1.11% Cu and 0.60% Ni (14.20 g/t Pt.eq1;
4.51% Cu.eq2) from 154.7m downhole in Hole CL24-008, including
o 13.8m of 6.01 g/t Pt, 5,56 g/t Pd, 1.45% Cu, 0.75% Ni, from 159.0 m.
• 19.3 m of 3.61 g/t Pt, 3.26 g/t Pd, 0.79% Cu and 0.38% Ni (10.75 g/t Pt.eq1;
3.40% Cu.eq2) from 150 m downhole in Hole CL24-006, including
o 10.8 m of 5.33 g/t Pt, 4.65 g/t Pd, 1.13% Cu, 0.40% Ni from 157.0 m.
Notes
1. Platinum equivalent are calculated as follows: Pt.eq = (Pt grade/31.1035 x $982 + Pd
grade x 31.1035 x 86.2% x $1,057 + Cu grade x 2204 x 95.9% x $4.27 + Ni grade x
2204 x 57% x 7.58 + Au grade/31.1035 x 85% x $2,642 + Ag grade/31.1035 x 65.2%
x $31.73) / $982 x 31.1035
2. Copper equivalents are calculated as follows: Cu.eq= (Cu grade x 2204 x $4.27 + Pt
grade x 31.1035 x 80.6% x $982 + Pd grade x 31.0135 x 86.2% x $1,057 + Ni grade
x 2204 x 57% x $7.58 + Au grade/31.1035 x 85% x $2,642 + Ag grade/31.1035 x
65.2% x $31.73) / $4.27 / 2204
Equivalents are based on the following recoveries Pt 80.6%, Pd 86.2%, Cu 95.9% Ni
57%, Au 85%, Ag 65.2%; and metal prices from September 25, 2024 US Spot; Pt $982,
Pd $1057, Cu $4.27, Ni $7.58, Au $2642, Ag $31.73
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A summary of all assays is presented in Table 1.
Clean Air Metals’ CEO Mike Garbutt commented, “The new drilling results confirm our
belief that the tonnage of the highest-grade parts of the Current deposit is likely
underestimated by the most recent resource model – largely because of an inadequate
drilling density in these areas. Additional geophysical modeling and tightly-spaced
drilling is expected to allow us to quantify the highest value mineralization within both
the Current and Escape deposits. We believe that a more robust, low-tonnage high-
grade production model anchored by these high-grade areas is attainable.”
The summer drilling program targeted near-surface high-grade zones within the
Current deposit to better define their lateral continuity and tonnage potential. These
new results, in conjunction with the initial assays (see September 9th release), confirm
that high-grade mineralization in the areas targeted extends beyond what was outlined
in the most recent resource model (NI 43-101 technical report on the Thunder Bay North
Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023).
Results Confirm Improved High-Grade Continuity
The revised geological model for the high-grade areas at Thunder Bay North employs
flow processes similar to those associated with alluvial gold processes. These results
provide confidence and “proof of concept” that continued success in the expansion of
the high-grade pods along strike is possible with tighter drilling. The Company
believes that a predictive tool based principally upon geophysical data can quickly be
developed that will allow the identification of additional high-grade pods that occur
within the Current and Escape deposits.
Clean Air Metals’ Vice President of Exploration, Lionnel Djon commented, “The results
of the proof-of-concept drilling at Current provide a high level of confidence that the
high-grade pods have a regular periodicity that can be predicted using 3D geophysical
models and that their tonnage potential is likely greater than previously appreciated.
We are excited to follow up on these encouraging results and begin the job of
delineating these high-grade domains to support an independent estimation of their
tonnage and grade.”
Drilling at four high-grade target areas has produced exceptional results. Nine of the
ten holes completed in the program intersected significant widths of high-grade
mineralization, defined here as averaging over 6 g/t combined Pt and Pd. Hole
locations relative to the high-grade targets and the different mineralized zones within
the Current deposit are shown in Figure 1. Figure 2 outlines an area in the Lower
Current Zone where the program delivered improved grade, continuity and volume,
expanding the high-grade zone to the southeast.
3
Figure 1. Plan view map showing drill hole locations for the recently completed 10-
hole program at the Current deposit.
Figure 2. Section showing CL24-003 and CL24-004 in the Lower Current Zone and
interpreted expansion of the high-grade shell.
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In the Bridge Zone, a flat-lying zone of high-grade mineralization was targeted as shown
in plan view in Figure 3. The program was successful in expanding the volume of the
target area, at grades equal to or greater than those estimated in the most recent
resource model. The high-grade shell extends laterally toward the southeast, and there
remains good potential for extending this shell to the west.
Figure 3. Plan view outlining drill hole pierce points in the flat-lying section of the
Bridge Zone and outlining the lateral expansion of the high-grade shell. This drilling
included hole CL24-008 that returned a grade of 14.20 g/t Pteq1 over 23.4m.
Farther northwest in the Lower Current Zone, Hole CL-24-010 added significant grade
and volume to the shell along strike and Hole CL-24-002 added to the shell to the
northeast (into the section) in comparison to the existing resource model (Figure 4).
Figure 4. Section outlining interpreted high grade shell expansion from hole CL24-
010 (13.74 Pteq1)
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Additional Massive Sulphide Intersected in Hole CL24-005
A second hole within the 10-hole program (Hole CL24-005) intersected 0.5m of massive
sulphides near the base of the intrusion. The deposit is known to carry massive
sulphides in pockets and embayments at both the Current and Escape deposits. 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.
The Company is in the process of developing a follow-up exploration program
designed to discover new high-grade zones within the Current and Escape deposits
and a resource delineation program to support an independent resource estimate of
the highest-grade domains in both deposits.
Reconfiguring the Mine Plan
The project path forward, that includes a smaller tonnage, high-grade and low-capital
cost mine plan is buoyed by the results from this program. It is evident that higher-
grade mineralization is spatially distributed in distinct and separable zones that allow
for targeted extraction using traditional open-stoping mining methods. A bulk sample
is under consideration as part of a move towards advanced exploration designation.
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.
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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 Assays
Hole ID From
(m)
To
(m)
Length
(m)
Pt
(g/t)
Pd
(g/t)
Cu
(%)
Ni
(%)
Pt+Pd
(g/t)
Cu+Ni
(%)
Pteq1
(g/t)
CL24-002 96.0 127.0 31.0 2.19 2.03 0.47 0.27 4.22 0.74 6.64
*INCL 105.0 118.0 13.0 3.71 3.42 0.74 0.37 7.13 1.11
CL24-004 101.0 138.7 37.7 2.09 1.97 0.46 0.33 4.06 0.79 6.56
*INCL 124.3 132.3 8.0 4.71 4.41 1.09 0.71 9.12 1.80
CL24-005 153.0 191.4 38.4 3.38 3.26 0.72 0.45 6.64 1.17 10.32
*INCL 178.2 191.4 13.2 8.39 8.09 1.75 0.95 16.48 2.7
*AND 188.9 188.4 0.5 20.40 21.00 4.20 2.18 41.40 6.38
CL24-006 150.0 169.3 19.3 3.61 3.26 0.79 0.38 6.87 1.17 10.75
*INCL 157.0 167.8 10.8 5.33 4.65 1.13 0.40 9.98 1.53
CL24-007 150.0 173.4 23.4 2.46 2.34 0.55 0.30 4.80 0.85 7.49
*INCL 157.0 162.0 5.0 6.40 6.30 1.37 0.88 12.70 2.25
CL24-008 154.7 178.0 23.3 4.54 4.23 1.11 0.60 8.77 1.71 14.20
*INCL 159.0 172.8 13.8 6.01 5.56 1.45 0.75 11.57 2.19
CL24-009 144.0 151.0 7.0 1.01 0.99 0.25 0.16 2.00 0.40 3.32
CL24-010 82.0 132.7 50.7 4.52 4.38 0.99 0.53 8.90 1.52 13.74
*INCL 102.0 132.7 30.7 6.35 6.10 1.32 0.69 12.45 2.01
CL24-0013 86 137.8 51.8 4.92 4.66 1.07 0.55 9.58 1.62 14.82
CL24-0033 118 149.4 31.4 4.22 4.04 0.95 0.56 8.26 1.51 13.04
1. Refer to Note 1 on page 1 of this release
3. Previously reported in the September 9th, 2024 press release
Table 2. Hole Coordinates
Hole ID Easting-
NAD83_16
(m)
Northing
NAD83_16
(m)
Elevation
(m)
Azimuth
(deg)
Dip
(deg)
Hole
length
(m)
CL24-002 357575 5402659 490.64 299.23 -78 162
CL24-004 357712 5402582 499.2 0.85 -90 162
CL24-005 357967 5402373 504.5 337.52 -82 207
CL24-006 357855 5402538 508.2 296.92 -90 185
CL24-007 357843 5402512 508.4 45.31 -89 185
CL24-008 357863 5402516 509.4 43.6 -89 186
CL24-009 357874 5402528 509.7 346.63 -89 192
CL24-010 357553 5402648 501.5 320.17 -77 165
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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
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.
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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.
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