Clean Air Metals Reports New Drill Results from Thunder Bay North Project
Clean Air Metals Reports New Drill Results
from Thunder Bay North Project
Thunder Bay, ON, August 12, 2021 – 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 drilling
campaign currently underway at the Company’s Thunder Bay North Project (the “ Project”).
Highlights (from Table 1) include:
• Hole CL21-004 from the Current Lake Deposit infill program which intersected 13.0m
grading 2.9 g/t PdEq1 composed of 0.96g/t Palladium (Pd), 1.03g/t Platinum (Pt), 0.30%
Copper (Cu) and 0.25% Nickel (Ni) from 168.0 – 181.0m downhole and 3.0m grading 4.9
g/t PdEq composed of 1.96g/t Palladium (Pd), 2.21g/t Platinum (Pt), 0.51% Copper (Cu)
and 0.26% Nickel (Ni) from 158.0 – 161.0m downhole.
• Hole ELR21 -070 from the Escape Lake Deposit exploration program which intersected
8.0m grading 3.3g/t PdEq composed of 1.25g/t Palladium (Pd), 1.15/t Platinum (Pt),
0.43% Copper (Cu), 0.20% Nickel (Ni) from 318.0m-326.0m downhole.
The Escape Lake Deposit has an overall Indicated mineral resource of 505,369 ounces at 3.67g/t
PdEq in 4,286,220 tonnes and is geologically open along trend. The adjacent Current Lake Deposit
has an Indicated mineral resource of 1,328,789 oz PdEq at an ave rage grade of 3.44 g/t PdEq in
11,999,177 tonnes.
Mineral resource endowment and palladium -equivalents are quoted pursuant to the NI 43 -101
Technical Report and Mineral Resource Estimate for the Thunder Bay North Project, Thunder Bay,
Ontario, effective date January 20, 2021, posted to SEDAR March 4, 2021. Prepared by Nordmin
Engineering Ltd.- QP Glen Kuntz, P.Geo. Ontario.
Update on Metallurgy and PEA
Metallurgical optimization studies continue with Blue Coast Research of British Columbia. Th e
results of the studies and independent analysis of smelter recoveries and smelter payables are
expected to input directly into a Preliminary Economic Assessment (PEA) mine model planned for
publication in early Q4/2021.
Abraham Drost, CEO of Clean Air M etals stated that “initial assay results from the Current Lake
deposit infill drilling (“CL” holes) are ongoing and will supplement the understanding of resource
continuity and mine stope planning for the upcoming preliminary economic assessment (PEA).
The Company is looking forward to publication of a PEA in Q4/21 solely on the Current Lake
1 Palladium equivalency formula can be viewed in the following Link (Click Here)
Deposit. The PEA will be based on a ramp -access underground mine model constraining the
existing mineral resource.
The present round of assay results is also being added to the Escape Lake deposit database (“ELR”
holes) which will result in a revised resource estimate in Q1/22. The future potential to add scale
to the Thunder Bay North Project with feed from the Escape Lake Deposit is potentially accretive
to overall project economics.”
Please see the link below for Figures 1 and 2.
Figure 1: 2021 Drill Hole Intercepts in the Escape Lake Deposit Area – Link (Click Here)
Figure 2: 2021 Drill Hole Intercepts in the Current Lake Deposit Area – Link (Click Here)
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. Management had previously eliminated plans for a camp setup to service a
planned diamond drill campaign on the Escape Lake Project. 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
Hole ID From,
m
To,
m
Length,
m
Pt+Pd
(g/t)
Cu+Ni
(%)
Pt
(g/t)
Pd
(g/t)
Cu
(%)
Ni
(%) PdEq
ELR21-068 170.70 171.94 1.24 2.52 0.26 1.19 1.33 0.17 0.10 2.68
ELR21-069 171.17 173.05 1.88 1.61 0.13 0.78 0.84 0.07 0.06 1.66
ELR21-069 255.00 259.00 4.00 1.31 0.43 0.59 0.72 0.27 0.16 2.03
ELR21-070 318.00 326.00 8.00 2.39 0.63 1.15 1.25 0.43 0.20 3.25
ELR21-071 169.70 171.65 1.95 1.74 0.16 0.84 0.90 0.09 0.06 1.82
ELR21-074 181.40 182.80 1.40 1.54 0.18 0.77 0.77 0.12 0.06 1.67
CL21-003 153.00 156.00 3.00 1.68 0.39 0.88 0.80 0.20 0.19 2.26
CL21-003 162.00 163.87 1.87 1.26 0.39 0.67 0.59 0.20 0.18 1.91
CL21-004 158.00 161.00 3.00 4.16 0.78 2.21 1.96 0.51 0.26 4.94
CL21-004 168.00 181.00 13.00 1.99 0.55 1.03 0.96 0.30 0.25 2.86
Table 1: New Assay Results Update – Thunder Bay North Project
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
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
Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project
Manager of the Company, has reviewed and approved all technical information in this press
release.
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 and the issue of
Warrants, reported January 28, 2021.
The Company is also in discussions with Red Sky Metis Independent Nation and the Metis Nation
of Ontario. Woodland Heritage Northwest, a Metis -owned consultancy has been retained to
conduct archaeological studies on the Thunder Bay North Project and surrounding areas.
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 Lake
deposit and magma conduit and the Company is actively exploring the Escape Lake deposit, a twin
structure to the Current Lake deposit. Executive Chairman Jim Gallagher and CEO Abraham Drost
lead an experienced team of geologists and engineers who are using the Norilsk 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.
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 Lake and Current Lake deposits and timing of technical studies 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 environment al 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 cau tioned
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.