Clean Air Metals Reports Drill Results from the Escape Deposit including Hole 129 with 90.0m averaging 1.04 g/t Platinum, 1.33 g/t Palladium, 0.49% Copper, 0.28% Nickel
Clean Air Metals Reports Drill Results from the Escape Deposit including
Hole 129 with 90.0m averaging 1.04 g/t Platinum, 1.33 g/t Palladium, 0.49%
Copper, 0.28% Nickel
THUNDER BAY, ON
,
April 27, 2022
/CNW/ - Clean Air Metals Inc. ("
Clean Air Metals
" or the "
Company
") (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) is
pleased to announce new assay results from the 2022 drill campaign from the Escape PGE-Cu-Ni Deposit at the Company's Thunder Bay North Project near
Thunder Bay, Ontario, Canada
(the "
Project
").
New assay highlights from the Escape South deposit area includes (Table 1):
Hole ELR22-129 which intersected
90.0m
grading 1.04g/t Platinum (Pt), 1.33g/t Palladium (Pd), 0.49% Copper (Cu) and 0.28% Nickel (Ni)
from
308.0m
-
398.0m
downhole including
5.0m
grading 2.38 g/t Platinum (Pt), 2.99g/t Palladium (Pd), 1.12% Copper (Cu) and 0.62% Nickel (Ni)
from
382.0-
387.0m
downhole (Figure 1). 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 which intersected
29.0m
grading 1.00g/t Platinum (Pt), 1.25g/t Palladium (Pd), 0.44% Copper (Cu) and 0.32% Nickel (Ni)
from
334.0m
-
363.0m
downhole.
Hole ELR22-133 which intersected
47.30m
grading 1.02g/t Platinum (Pt), 1.24g/t Palladium (Pd), 0.43% Copper (Cu) and 0.27% Nickel (Ni)
from
325.7m
-
373.0m
downhole.
The Escape Deposit also underwent an additional
37,000m
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 insitu mineral resource (effective
November 1, 2021
) of 8.12 g/t
PtEq in 14,553,324 million tonnes (reported
December 1, 2021
).
Mineral resource endowment and platinum-equivalents are quoted pursuant to the Technical Report and Mineral Resource Estimate for the Thunder Bay North
Project,
Thunder Bay, Ontario
, with an effective date of
January 20, 2021
(the "
Technical Report
"). The Technical Report was posted to SEDAR on
March 4,
2021
and prepared by Nordmin Engineering Ltd.- QP Glen Kuntz, P.Geo.
Ontario
. Nordmin as QP utilized 2-year trailing average metal price assumptions[1] for
the updated mineral resource as a basis for the Preliminary Economic Assessment reported on
December 1, 2021
and filed
January 12, 2022
.
____________________
1
CRU 2-year metal price assumptions can be viewed in the following
Link (Click Here)
Preliminary Economic Assessment (PEA)
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
https://cleanairmetals.ca/site/assets/files/5750/21015-01-pfs-0000_ni_43_101_pea_12jan2022.pdf
Table 1: New Insitu Assay Results Update – Escape South Sail-Zone Extension (Figure 1)
Hole ID
Company
From,
m
To, m
Length,
m
Pt+Pd
(ppm)
Cu+Ni
(%)
Pt
(ppm)
Pd
(ppm)
Cu
(%)
Ni
(%)
ELR22-
127A
AIR
242.0
244.0
2.00
1.23
0.37
0.53
0.69
0.22
0.15
ELR22-128
AIR
151.5
153.1
1.60
1.43
0.14
0.69
0.75
0.08
0.06
ELR22-129
AIR
308.0
398.0
90.00
2.37
0.77
1.04
1.33
0.49
0.28
ELR22-129
**incl.
382.0
387.0
5.00
5.37
1.74
2.38
2.99
1.12
0.62
ELR22-129
AIR
406.0
417.0
11.00
2.82
1.02
1.30
1.52
0.69
0.32
ELR22-129
AIR
461.0
462.8
1.80
1.63
0.52
0.92
0.71
0.37
0.14
ELR22-130
AIR
321.8
327.7
5.95
1.42
0.46
0.66
0.77
0.25
0.21
ELR22-130
AIR
343.8
347.7
3.95
1.60
0.54
0.73
0.88
0.31
0.22
ELR22-131
AIR
290.5
293.3
2.80
1.95
0.21
0.91
1.04
0.13
0.08
ELR22-131
AIR
301.0
318.0
17.00
2.10
0.61
0.95
1.14
0.43
0.19
ELR22-131
AIR
334.0
363.0
29.00
2.25
0.76
1.00
1.25
0.44
0.32
ELR22-131
AIR
373.0
375.0
2.00
1.69
0.53
0.78
0.91
0.32
0.21
ELR22-131
AIR
381.0
385.0
4.00
2.96
0.94
1.38
1.59
0.64
0.31
ELR22-132
AIR
379.5
393.5
14.00
2.61
0.66
1.20
1.41
0.48
0.18
ELR22-133
AIR
325.7
373.0
47.30
2.25
0.70
1.02
1.24
0.43
0.27
Note:
1) All intercepts are estimated to be >95% of true width based on drill hole inclination
2) Mineralized intervals calculated at 1 ppm Pt+Pd cutoff
3) Metallurgical recoveries estimated at 95% Copper; 90% Sulphide Nickel (52% total Ni); 87% Palladium; 82% Platinum
Abraham Drost
, CEO of Clean Air Metals
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 (filed
January 12, 2022
).
The approximately
37,000m
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
900m
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." (Figure 1).
Figure 1: Drill Hole Intercepts in the Escape Deposit Area
https://cleanairmetals.ca/site/assets/files/5790/figure-1-april-27-2022.jpg
COVID Policy
Clean Air Metals continued to apply COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers.
Personnel are required to self-monitor and self-isolate or elect to work from home. The Company closely follows Provincial Government COVID guidelines.
Qualified Person
Dr.
Geoff Heggie
, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President - Exploration for the Company, has reviewed and
approved all technical information in this press release.
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. 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 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 method consisting of either ICP-AES or atomic absorption spectrometry (AAS)
techniques.
Social Engagement
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 (press release
January 11, 2021
) and Exploration Agreement signed
April 13, 2022
(press release
April 14,
2022
).
The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, traveled, 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
About Clean Air Metals Inc.
Clean Air Metals' flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City
of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Thunder Bay North Project hosts the twin magma conduit bodies which host
the Current and Escape deposits forming the basis for a robust preliminary economic assessment around a ramp access underground mine and on-site milling
complex, filed
January 12, 2022
.
Executive Chair Jim Gallagher and CEO Abraham Drost lead an experienced technical team who are using the Norilsk magma conduit stratigraphic and mineral
deposit model to guide ongoing exploration and development feasibility studies for a low-carbon, sustainable mining operation at Thunder Bay North. As the former
CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019, Jim Gallagher and team are
credited with the mine turnaround and creation of significant value for shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS
"Abraham Drost"
Abraham Drost
, Chief Executive Officer of Clean Air Metals Inc.
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, including statements regarding the
potential of the Thunder Bay North Project and the Escape and Current deposits and timing of technical studies including prefeasibility studies and updated mineral
resource estimates. 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 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 projection.
View original content:
https://www.prnewswire.com/news-releases/clean-air-metals-reports-drill-results-from-the-escape-deposit-including-hole-129-with-90-0m-averaging-1-04-gt-platinum-1-33-gt-palladium-0-49-copper-0-28-nickel-301533878.html
SOURCE
Clean Air Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/April2022/27/c4372.html
%SEDAR: 00005465E
For further information:
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc., Phone: 807-252-800, Email: [email protected], Website:
www.cleanairmetals.ca
CO: Clean Air Metals Inc.
CNW 03:01e 27-APR-22