Clean Air Metals Reports Drill Results including 20.7m grading 3.90 g/t Platinum, 5.36g/t Palladium, 1.97% Copper and 0.97% Nickel in Hole ELR22-143
Clean Air Metals Reports Drill Results including 20.7m
grading 3.90 g/t Platinum, 5.36g/t Palladium, 1.97%
Copper and 0.97% Nickel in Hole ELR22-143
Thunder Bay, ON, June 28, 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 South deposit area includes (Table 1):
• Infill Hole ELR22-140 which intersected 70.5m grading 1.18g/t Platinum (Pt), 1.52g/t
Palladium (Pd), 0.54% Copper (Cu) and 0.31% Nickel (Ni) from 341.0m-411.5m
downhole, including 14.0m grading 2.65g/t Pt, 3.46 g/t Pd, 1.28% Cu and 0.72% Ni from
392.0-406.0m downhole and increases the known dimensions of the Escape South High
Grade Zone (“HGZ”).
• Infill Hole ELR22-143 which intersected 60.0m grading 2.05g/t Platinum (Pt), 2.74g/t
Palladium (Pd), 1.01% Copper (Cu) and 0.51% Nickel (Ni) from 373.0m-433.0m downhole
including 20.7m grading 3.90 g/t Platinum (Pt), 5.36g/t Palladium (Pd), 1.97% Copper
(Cu) and 0.97% Nickel (Ni) from 402.0-422.7.0m downhole (Figure 1) and increases the
known dimensions of the Escape South HGZ.
Pursuant to the PEA mine plan reported January 12, 2022, initial production on the Escape Deposit
commences at Year 4.5 of the Life of Mine on the Escape South HGZ on 2,323,948 tonnes grading
9.99g/t PtEq insitu. The Escape Deposit has now undergone an additional 55,651m of expansion
drilling in 2021 and 2022 not yet included in the project mineral resource. This additional drilling
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) including the Current Deposit, averaging 8.12 g/t PtEq in 14,553,324 million
tonnes insitu (reported December 1, 2021).
New assay highlights from the Current deposit area includes (Table 2):
• Infill Hole CL22-043 which intersected 25.0m grading 2.01g/t Platinum (Pt), 2.57g/t
Palladium (Pd), 0.94% Copper (Cu) and 0.52% Nickel (Ni) from 325.7m-373.0m downhole
including 8.0m grading 3.08 g/t Platinum (Pt), 2.97g/t Palladium (Pd), 0.63% Copper (Cu)
and 0.39% Nickel (Ni) from 147.0-155.0m downhole (Figure 2) and which improves the
grade profile of the Beaver Lake Zone down plunge from the main PEA production areas.
Pursuant to the PEA mine plan reported January 12, 2022, the first 3.7 years of mining at Current
Deposit on 4,835,410 tonnes of material insitu averages 4.49g/t 4E PGE or 10.04g/t PtEq insitu at
Lower Current and Bridge Zones, immediately up plunge from the Beaver Lake Zone.
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 assumptions1 for the
updated mineral resource as a basis for the Preliminary Economic Assessment (the “PEA”)
reported on December 1, 2021 and filed January 12, 2022.
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 Assessment (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 metallurgical optimization, including
amenability to hydrometallurgical recoveries of the main platinum, palladium, copper, nickel
commodity suite with rhodium, cobalt, gold and silver byproducts.
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
(%)
ELR22-135 AIR 291.8 296 4.2 4.23 0.34 1.95 2.28 0.21 0.13
ELR22-135 AIR 331 337 6.0 1.27 0.47 0.58 0.69 0.24 0.23
ELR22-135 AIR 349 351 2.0 1.09 0.38 0.50 0.59 0.19 0.20
ELR22-135 AIR 355 377 22.0 2.43 0.83 1.09 1.34 0.50 0.33
ELR22-135 AIR 393.2 397 3.8 2.28 0.66 1.05 1.23 0.44 0.21
1 CRU 2-year metal price assumptions can be viewed in the following Link (Click Here)
ELR22-139 AIR 315 317 2.0 1.09 0.41 0.47 0.62 0.22 0.18
ELR22-139 AIR 417 422 5.0 2.49 0.72 1.13 1.36 0.48 0.24
ELR22-140 AIR 341 411.5 70.5 2.70 0.85 1.18 1.52 0.54 0.31
*incl. 392 406 14.0 6.10 1.99 2.65 3.46 1.28 0.72
ELR22-
141A AIR 356 358 2.0 1.14 0.32 0.52 0.62 0.18 0.14
ELR22-142 AIR 386 388 2.0 1.53 0.41 0.71 0.81 0.27 0.14
ELR22-143 AIR 373 433 60.0 4.79 1.52 2.05 2.74 1.01 0.51
*incl. 402 422.7 20.7 9.25 2.94 3.90 5.36 1.97 0.97
ELR22-143 AIR 444.5 458 13.5 1.70 0.60 0.77 0.93 0.38 0.22
ELR22-144 AIR 424 483 59.0 1.93 0.60 0.85 1.08 0.39 0.21
ELR22-144 AIR 485 487 2.0 1.09 0.42 0.48 0.61 0.21 0.20
ELR22-144 AIR 489.8 499 9.3 2.00 0.71 0.89 1.11 0.42 0.29
Table 2: New Insitu Assay Results Update – Current Deposit - Upper Beaver Lake Zone (Figure 2)
Hole ID Company From,
m To, m Length,
m
Pt+Pd
(ppm)
Cu+Ni
(%)
Pt
(ppm)
Pd
(ppm)
Cu
(%)
Ni
(%)
CL22-035A AIR 134.7 136.7 2.0 2.37 0.31 1.26 1.11 0.17 0.15
CL22-036A AIR 136.8 152.8 16.0 2.36 0.48 1.20 1.16 0.28 0.20
CL22-036A AIR 160.8 162.8 2.0 2.86 0.48 1.52 1.34 0.27 0.21
CL22-036A AIR 210.7 212.65 2.0 3.97 1.15 2.10 1.87 0.76 0.39
CL22-037A AIR 129 135 6.0 1.90 0.42 0.96 0.95 0.25 0.18
CL22-037A AIR 157 159 2.0 1.23 0.33 0.65 0.58 0.12 0.21
CL22-037A AIR 163 165 2.0 1.34 0.34 0.69 0.64 0.14 0.20
CL22-037A AIR 171 195 24.0 1.78 0.42 0.92 0.87 0.20 0.22
CL22-038 AIR 158 162 4.0 1.35 0.38 0.69 0.66 0.18 0.20
CL22-039 AIR 137.1 147 9.9 1.51 0.39 0.78 0.73 0.20 0.19
CL22-040 AIR 141.7 145 3.3 1.52 0.36 0.78 0.74 0.20 0.16
CL22-041 AIR 127 131 4.0 1.45 0.31 0.76 0.69 0.16 0.15
CL22-041 AIR 145 159 14.0 1.59 0.46 0.82 0.76 0.23 0.23
CL22-043 AIR 143 161 18.0 4.20 0.70 2.17 2.03 0.43 0.27
*incl. 147 155 8.0 6.04 1.02 3.08 2.97 0.63 0.39
CL22-043 AIR 183 185 2.0 1.12 0.37 0.59 0.53 0.17 0.20
CL22-043 AIR 187 189 2.0 1.29 0.43 0.66 0.63 0.21 0.22
CL22-043 AIR 193 194.95 1.9 1.98 0.52 1.02 0.96 0.30 0.21
CL22-044 AIR 144 148 4.0 1.05 0.25 0.56 0.49 0.10 0.15
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
4)
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 South High Grade Zone (HGZ) and
Upper Beaver Lake Zone of 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 Bay North Project, pursuant to the PEA mine plan. The
Escape South High Grade Zone (>5g/t Pt+Pd) is 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
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
Note:
5) All intercepts are estimated to be >95% of true width based on drill hole inclination
6) Mineralized intervals calculated at 1 ppm Pt+Pd cutoff
7) Metallurgical recoveries estimated at 95% Copper; 85% Sulphide Nickel (52% total Ni); 87% Palladium; 82%
Platinum
8)
Clean Air Metals uses ALS Global (“ALS”), a well-established and recognized mineral assay and
geochemical analytical services compa ny. 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 Indian Band 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 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 $378m 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 stratigraphic and mineral deposit model to guide ongoing
exploration and development 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 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.
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 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.