Clean Air Metals Reports Drilling Update from the Thunder Bay North Project, Thunder Bay, Ontario
Clean Air Metals Reports Drilling Update from the Thunder Bay North
Project, Thunder Bay, Ontario
THUNDER BAY, ON
,
Nov. 2, 2021
/CNW/ - Clean Air Metals Inc. ("
Clean Air Metals
" or the "
Company
") (TSXV: AIR) (FRA: CKU) (OTC: CLRMF) is
pleased to announce new assay results from the drilling campaign presently underway at the Company's Thunder Bay North Project (the "
Project
") from the
Escape and Current magma conduit deposits.
The Escape Deposit has undergone systematic expansion drilling of nearly
30,000m
since the maiden Indicated resource of 505,369 ounces PdEq
1
(3.67
g/t PdEq in 4.28 million tonnes reported
January 20, 2021
). The Current Deposit, 2.5km to the east (Figure 2), has a well-defined Indicated mineral
resource of 1,328,789 PdEq
1
ounces (3.44 g/t PdEq in 11.99 million tonnes).
New assays from the Escape Deposit (Table 1) include:
Hole ELR21-085 which intersected
16.1m
grading 4.20g/t Palladium Equivalents (PdEq)
1
composed of 1.58g/t Platinum (Pt), 1.27g/t Palladium
(Pd), 0.52% Copper (Cu), 0.31% Nickel (Ni)
(Figure 1).
New assays from the Current Deposit (Table 2) include:
Hole CL21-021 which intersected
8.6m
grading 5.10 g/t PdEq
1
composed of
2.22 g/t Platinum (Pt), 2.10g/t Palladium (Pd), 0.45% Copper (Cu)
and 0.31% Nickel (Ni)
from 151.0-
159.6m
downhole including
2.6m
grading 9.80 g/t PdEq
composed of
4.07 g/t Platinum (Pt), 4.03g/t Palladium
(Pd), 0.88% Copper (Cu) and 0.65% Nickel (Ni)
from
155.0m
–
157.56m
downhole (Figure 2).
Mineral resource endowment and palladium-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
March 4, 2021
and prepared by Nordmin Engineering Ltd.- QP Glen Kuntz, P.Geo.
Ontario
.
__________________
1
Palladium equivalency formula can be viewed in the following
Link (Click Here)
Update on Metallurgy and PEA
Metallurgical optimization studies continue with Blue Coast Research of
British Columbia
. The results of the metallurgical studies on drill core-derived bulk
sample material and independent analysis of smelter recoveries and smelter payables are expected to input directly into a Preliminary Economic
Assessment (PEA) mine cash flow model planned for publication in Q4/2021.
Table 1: New Assay Results Update – Thunder Bay North Project
Hole ID
From,
m
To,
m
Length,
m
Pt+Pd
(g/t)
Cu+Ni
(%)
Pt
(g/t)
Pd
(g/t)
Cu
(%)
Ni
(%)
PdEq
ELR21-080
353.7
360.0
6.3
1.93
0.61
1.12
0.81
0.41
0.21
2.92
ELR21-080
389.0
401.0
12.0
1.26
0.42
0.70
0.56
0.24
0.18
2.03
ELR21-081
350.6
360.0
9.4
1.89
0.60
1.09
0.80
0.39
0.21
2.88
ELR21-081
372.0
378.0
6.0
1.52
0.47
0.86
0.66
0.29
0.18
2.31
ELR21-082
238.6
242.5
3.9
1.37
0.30
0.75
0.62
0.23
0.07
1.72
ELR21-085
225.9
242.0
16.1
2.85
0.83
1.58
1.27
0.52
0.31
4.15
ELR21-086
364.0
366.0
2.0
1.33
0.46
0.74
0.59
0.25
0.21
2.19
CL21-020
144.0
146.0
2.0
1.41
0.33
0.68
0.73
0.20
0.14
1.91
CL21-020
152.0
160.0
8.0
2.91
0.58
1.49
1.42
0.37
0.22
3.59
CL21-020
168.0
175.0
7.0
1.44
0.35
0.75
0.70
0.18
0.16
1.99
CL21-020
178.5
179.5
1.0
4.65
0.84
2.51
2.14
0.69
0.15
5.12
CL21-021
151.0
159.6
8.6
4.33
0.76
2.22
2.10
0.45
0.31
5.09
**incl.
155.0
157.6
2.6
8.10
1.53
4.07
4.03
0.88
0.65
9.79
CL21-022
154.0
161.0
7.0
2.37
0.45
1.25
1.13
0.24
0.21
2.95
CL21-023
135.7
137.7
2.0
1.05
0.21
0.53
0.52
0.10
0.11
1.37
CL21-023
141.3
142.4
1.0
3.53
0.89
1.72
1.81
0.56
0.34
4.69
CL21-023
147.5
149.5
2.0
1.02
0.33
0.53
0.49
0.16
0.17
1.63
CL21-024
138.2
140.2
2.0
1.16
0.29
0.63
0.53
0.15
0.14
1.60
CL21-025
144.0
146.0
2.0
1.47
0.29
0.77
0.70
0.12
0.17
1.94
CL21-025
178.7
182.1
3.4
2.63
0.43
1.35
1.28
0.24
0.18
3.09
CL21-026
123.7
129.7
6.0
1.84
0.39
0.94
0.90
0.21
0.18
2.38
CL21-026
137.7
149.7
12.0
1.39
0.34
0.74
0.66
0.15
0.19
1.98
CL21-027
126.0
135.0
9.0
1.48
0.34
0.76
0.73
0.17
0.17
2.01
CL21-027
183.0
185.0
2.0
1.54
0.46
0.76
0.79
0.22
0.24
2.37
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
Please see the link below for Figures 1 and 2.
Figure 1: 2021 Drill Hole Intercepts in the Escape Deposit Area –
Link (Click Here)
Figure 2: 2021 Drill Hole Intercepts in the Current Deposit Area –
Link (Click Here)
Abraham Drost
, CEO of Clean Air Metals
stated that "the present round of assay results from the Current deposit ("CL" holes) confirm continuity of
mineralization between sections along the trend of mineralization, at the Lower Bridge and Upper Beaver Lake Zones. Earlier assays from this round of
drilling at the Current Deposit have already been incorporated into a mean stope optimizer (MSO) mine planning algorithm for the upcoming PEA.
The results from highlight Hole ELR21-085 in the Escape Deposit ("ELR" holes) appear to demonstrate increasing grade on the eastern edge of the historic
Steepledge South resource area,
700m
north of the Escape South High-Grade Zone. The drilling plan for Steepledge South is coming into prominence here
with 20+ holes laid out for completion in Q4 and possibly into Q1/22."
COVID Policy
Clean Air Metals has adopted COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers.
Personnel are required to maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and self-isolate or elect to work from home.
The Company is aware of Thunder Bay Health Unit guidelines that provide for "mandatory" self-isolation for returning overseas travel. The guidelines also
"strongly recommend" self- monitoring and self-isolation as needed after travel into the Northwest region from other areas of the province and
interprovincially. Mineral Exploration and Development has been deemed an essential service in the Province of
Ontario
(
http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/
).
Qualified Person
Dr.
Geoff Heggie
, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Exploration Manager 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.
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 Clean Air Metals project hosts the Current Deposit and magma
conduit and the Company is actively exploring the Escape Deposit, a twin structure to the Current Deposit. Executive Chairman
Jim Gallagher
and CEO
Abraham Drost
lead an experienced team of geologists and engineers who are using the Noril'sk magma conduit stratigraphic and mineral deposit model to
guide ongoing exploration and development studies. 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 Lake and Current Lake deposits and timing of technical studies (include the
preliminary economic assessment) and 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-drilling-update-from-the-thunder-bay-north-project-thunder-bay-ontario-301413656.html
SOURCE
Clean Air Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/November2021/02/c0643.html
%SEDAR: 00005465E
For further information:
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc., Phone: 807-252-7800, Email: [email protected],
Website: www.cleanairmetals.ca
CO: Clean Air Metals Inc.
CNW 03:01e 02-NOV-21