Clean Air Metals Reports Drill Results including 19m grading 2.04g/t Platinum, 2.52g/t Palladium, 0.87% Copper and 0.45% Nickel in Hole ELR22-145
Clean Air Metals Reports Drill Results including 19m
grading 2.04g/t Platinum, 2.52g/t Palladium, 0.87%
Copper and 0.45% Nickel in Hole ELR22-145
Thunder Bay, ON, Tuesday, August 2, 2022 – 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 both the Escape and Current PGE-Cu-Ni Deposits at the Company’s
Thunder Bay North Project near Thunder Bay, Ontario, Canada (the “Project”).
New assay highlights from the Escape deposit area includes (Table 1):
• Infill Hole ELR22 -145 which intersected 19.0m grading 2.04 g/t Platinum (Pt), 2. 52g/t
Palladium (Pd), 0. 87% Copper (Cu) and 0. 45% Nickel (Ni) from 516.0m-535.5m
downhole, including 5.0m grading 2.56g/t Pt, 3. 22g/t Pd, 1.17% Cu and 0.7 0% Ni from
518.0-523.0m downhole and increases the known dimensions of the Escape High Grade
Zone (“HGZ”) (Figure 1).
New assay highlights from the Current deposit area includes (Table 1):
• Metallurgical bulk sample Hole CLM22-005 (HQ core) which intersected 12 .0m grading
2.28g/t Platinum (Pt), 2.14g/t Palladium (Pd), 0.45% Copper (Cu) and 0.32% Nickel (Ni)
from 142.0m-154.0m downhole including 2 .0m grading 4.40g/t Platinum (Pt), 4.60 g/t
Palladium (Pd), 1.01% Copper (Cu) and 0.84% Nickel (Ni) from 144.0-146.0m downhole
(Figure 1) which provides validation to the grade profile of the production area in Years
1-4 of the PEA mine plan;
• Metallurgical bulk sample Hole CLM22 -006 (HQ core) which intersected 24.2m grading
1.85g/t Platinum (Pt), 1.84g/t Palladium (Pd), 0.46% Copper (Cu) and 0.27% Nickel (Ni)
from 150.0m-174.2m downhole (Figure 2).
Mineral resource endowment and platinum -equivalents are quoted pursuant the Preliminary
Economic Assessment (the “PEA”) set out in the technical report prepared by Nordmin
Engineering Ltd. and titled "NI 43-101 Technical Report and Preliminary Economic Assessment for
the Thunder Bay North Project, Thunder Bay, Ontario", effective December 1, 2021 and filed
January 12, 2022. Nordmin as QP utilized 2-year trailing average metal price assumptions1 for the
updated mineral resource as a basis for the PEA.
1 CRU 2-year metal price assumptions can be viewed in the following Link (Click Here)
Clean Air Metals featured in upcoming Renmark Virtual Road Shows
The Company is also please d to announce that they will be participating in Renmark Financial
Communications Inc.’s live Virtual Non- Deal Roadshow Series to discuss its latest investor
presentation on Thursday, August 4, at 1PM PDT, and Tuesday August 16, at 1:00PM PDT. Clean
Air Metals Inc. welcomes stakeholders, investors, and other individual followers to register and
attend this live event.
The presentation will feature Abraham Drost, CEO & Director. Topics to be covered will include
the latest investor presentation followed by a live Q&A. Investors interested in participating in
this event will need to register using the link below. As a reminder, registration for the live event
may be limited, but access to the replay after the event will be on the company’s investor page.
REGISTER HERE (using latest version of Google Chrome)
Thursday, August 4, 2022 (Los Angeles, CA)
https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-tsx-v-air-otcqb-
clrmf-2022-08-04-130000
Tuesday, August 16, 2022 (Vancouver, BC)
https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-tsx-v-air-otcqb-
clrmf-2022-08-16-130000
DRA Selected as PFS Metallurgical Process Provider
The Company again states that DRA AMERICAS INC ("DRA") is the successful bid under a request
for proposal (RFP) for Pre -feasibility Metallurgical Testing and Process Plant Design for the
Thunder Bay North Project. The DRA team has reviewed the existing and historical metallurgical
testing results and marketing studies culminating in the Preliminary Economic Assessm ent (PEA)
by Nordmin Engineering, the technical report of which was filed on SEDAR on January 12, 2022 .
DRA will leverage existing knowledge on standard crush, grind, flotation process design and
smelter payabilities into the next phase of testing and meta llurgical optimization, including
amenability to hydrometallurgical recoveries of the main platinum, palladium, copper, nickel
commodity suite with rhodium, cobalt, gold and silver byproducts.
SLR Selected as PFS Mineral Resource Validation Service Provider
The Company has selected and contracted SLR Consulting through an RFP process to provide
independent validation of an updated TBN Project resource estimate for the Pre-feasibility study.
The updated resource estimate will include 53600 m of new drilling completed on Escape deposit
since the release of the March 4, 2021 Technical report and 6500m of additional infill drilling on
the Current deposit since the cutoff date for the PEA.
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 1 2, 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 HGZ and Current Metallurgical samples (Figure 1)
Hole ID Company From,
m To, m Length,
m
Pt+Pd
(ppm)
Cu+Ni
(%)
Pt
(ppm)
Pd
(ppm)
Cu
(%)
Ni
(%)
ELR22-145 AIR 458 505.2 47.2 2.02 0.64 0.88 1.14 0.42 0.22
ELR22-145 AIR 516 535 19.0 4.56 1.32 2.04 2.52 0.87 0.45
*incl. 518 523 5.0 5.78 1.87 2.56 3.22 1.17 0.70
*incl. 528 531 3.0 5.88 1.42 2.65 3.23 1.00 0.42
CL22-045 AIR 148 150 2.0 1.38 0.29 0.74 0.64 0.11 0.18
CL22-048 AIR 190 192 2.0 1.61 0.24 0.83 0.77 0.12 0.13
CL22-048 AIR 194 198 4.0 1.47 0.22 0.77 0.70 0.13 0.09
CL22-049 AIR 167 177.54 10.5 2.06 0.38 1.07 0.99 0.19 0.20
CLM22-
005 AIR 142 154 12.0 4.43 0.77 2.28 2.14 0.45 0.32
*incl. 144 146 2.0 9.00 1.84 4.40 4.60 1.01 0.84
*incl. 150 152 2.0 5.82 0.77 3.14 2.68 0.54 0.23
CLM22-
005 AIR 190 192 2.0 1.23 0.39 0.62 0.61 0.18 0.20
CLM22-
006 AIR 150 174.2 24.2 3.69 0.73 1.85 1.84 0.46 0.27
Abraham Drost, CEO of Clean Air Metals stated that “the Escape and Current deposits continue to
perform. Potential peer leading mining head grades and proximity to infrastructure near the City of
Thunder Bay and support of the affected First Nation and Metis communities for this sustainable
green energy metal mix position the project well. These factors combined with DRA’s work targeted
on improving ore payabilities are critical to success of the project.
This infill drilling on the margins and extension of the Escape High Grade Zone ( HGZ) and
metallurgical bulk sampling (HQ core) initially on Years 1 -4 of the PEA mine plan on the Current
Deposit continues to deliver strong results. The Lower Current and Bridge Zones of the Current
Deposit may be accessed 70m below surface and provide a strong start to mining at the Thunder
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; 85% Sulphide Nickel (52% total Ni); 87% Palladium; 82%
Platinum
Bay North Project, pursuant to the PEA mine plan. The Escape High Grade Zone (>5g/t Pt+Pd) is
also identified as a high value potential mining area at the base of the Escape Deposit contributing
feed to the mill at Year 4.5 of the PEA mine plan, pursuant to the recently delivered PEA technical
report filed January 12, 2022.”
Figure 1: New Drill Hole Intercepts in the Escape Deposit Area
https://cleanairmetals.ca/site/assets/files/5809/elr_20220623_v2.png
Figure 2: New Drill Hole Intercepts in the Current Deposit Area
https://cleanairmetals.ca/site/assets/files/5809/cl_20220623_v3.png
Annual General Meeting Results
The Company is pleased to announce that the shareholders of the Company approved all matters
at its Annual General Meeting held on July 27, 2022, as follows:
(i) the election of Abraham Drost, James Gallagher, Dean Chambers, Shannin
Metatawabin, MaryAnn Crichton and Ewan Downie as directors of the Company for
the ensuing year; and
(ii) the appointment of Manning Elliott LLP as Auditor for the Company for the ensuing
year.
To access the recording of the AGM, which includes a corporate presentation, please visit:
https://momentum.adobeconnect.com/_a832732884/p4cjsznl3bly/.
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 Ontario 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 s tandards 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 cou pled
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.
Indigenous Community Social and Economic 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 encouragin g 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 ( PEA) filed January 12, 2002 . The PEA of a ramp access
underground mine and on-site 3600tpd milling complex and the 2-year trailing average price deck,
features a pretax NPV5 of C$425m and an IRR of 31% on initial capital of $3 67m over a 10-year
mine life.
Executive Chair Jim Gallagher and CEO Abraham Drost lead an experienced technical team who
are using the Norilsk magma conduit stratigraph ic and mineral deposit model to guide ongoing
exploration and development pre feasibility studies for a low -carbon, all- electric sustainable
mining operation at Thunder Bay North. As the former CEO of North American Palladium Ltd.
which owned the Lac des Il es 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.
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
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 includ ing
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 depos its; 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 resul ts 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. S hould 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 securit ies laws. Actual events or results
could differ materially from the Company's expectations or projection.