Clean Air Metals Intersects 41.0m Grading 13.2 g/t Pt.eq at the Current Project

Rhea-AI Summary

Clean Air Metals (CLRMF) has announced significant results from its winter drilling program at the Thunder Bay North Critical Minerals Project. The company reported exceptional intersections, notably 41.0 meters grading 13.2 g/t Pt.eq including 10.0 meters with 1.57% Cu and 22.39 g/t Pt.eq in hole CL25-005.

Key highlights include:

• 41.0m of 4.52 g/t Pt, 4.29 g/t Pd, 0.97% Cu and 0.52% Ni from 110m downhole
• 28.0m section grading 5.75 g/t Pt, 5.37 g/t Pd, 1.18% Cu and 0.61% Ni
• 10.0m section with 7.87 g/t Pt, 7.34 g/t Pd, 1.57% Cu and 0.90% Ni

The newly discovered high-grade zone remains open laterally and at depth, resembling the 'Ballroom' structures of the JM Reef in the Stillwater Complex. Results from seven additional holes are pending.

Positive

• Exceptional high-grade intersection of 41.0m at 13.2 g/t Pt.eq
• Discovery extends beyond previous resource model boundaries
• High-grade zone remains open laterally and at depth
• Near-surface mineralization more extensive than previously estimated

Negative

• Results from 7 drill holes still pending
• Resource model requires reassessment due to new findings

THUNDER BAY, ON / ACCESS Newswire / March 4, 2025 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce the latest results from its ongoing winter drilling program at its 100%-owned Thunder Bay North Critical Minerals Project ("TBN"). The second set of assay results has confirmed that the near-surface, high-grade mineralization at the Current deposit is more extensive and significant than previously anticipated. Notably, one hole intersected 41.0 meters grading 13.2 g/t Pt.eq including 10.0 meters with 1.57% Cu and 22.39 g/t Pt.eq. The newly modeled shape of this high-grade area strongly resembles the "Ballroom" structures associated with the JM Reef in the Stillwater Complex in Montana. The high-grade zone intersected in hole CL25-005 and in several adjacent high-grade areas remains open laterally and at depth, significantly enhancing the exploration potential at the Current deposit.Assay results for the remaining seven holes are pending and will be released once received.

Assay highlights:

• 41.0 m of 4.52 g/t Pt, 4.29 g/t Pd, 0.97% Cu and 0.52% Ni(13.20 g/t Pt.eq¹; 4.42% Cu.eq²) from 110 m downhole in Hole CL25-005, including

  • 5.75 g/t Pt, 5.37 g/t Pd, 1.18% Cu and 0.61% Ni (16.42 g/t Pt.eq¹; 5.50% Cu.eq²) over 28.0m from 121.0 m, and

  • 7.87 g/t Pt, 7.34 g/t Pd, 1.57% Cu and 0.90% Ni (22.39 g/t Pt.eq¹ ; 7.50% Cu.eq²) over 10.0 m from 138.0 m

  • 12.08 g/t Pt, 10.87 g/t Pd, 2.38% Cu and 1.05% Ni (33.30 g/t Pt.eq¹ ; 11.16% Cu.eq²) over 2.0 m from 146.0 m

Notes

1. Platinum equivalent are calculated as follows: Pt.eq = (Pt grade/31.1035 x $976 + Pd grade x 31.1035 x 86.2% x $966 + Cu grade x 2204 x 95.9% x $4.25 + Ni grade x 2204 x 57% x 6.98 + Au grade/31.1035 x 85% x $2,939 + Ag grade/31.1035 x 65.2% x $32.89) / $976 x 31.1035

2. Copper equivalents are calculated as follows: Cu.eq= (Cu grade x 2204 x $4.25 + Pt grade x 31.1035 x 80.6% x $976 +Pd grade x 31.0135 x 86.2% x $966 + Ni grade x 2204 x 57% x $6.98 + Au grade/31.1035 x 85% x $2,9392 + Ag grade/31.1035 x 65.2% x $32.89) / $4.25 / 2204

Equivalents are based on the following recoveries Pt 80.6%, Pd 86.2%, Cu 95.9% Ni 57%, Au 85%, Ag 65.2%; and metal prices from February 20, 2025, US Spot; Pt $976, Pd $966, Cu $4.25, Ni $6.98, Au $2939, Ag $32.89

Mike Garbutt, CEO of Clean Air Metals, remarked, "These latest results have validated our belief that the Current deposit hosts more near-surface high-grade mineralization than previously estimated. The impressive grade and significant thickness encountered during the recent drilling programs provide additional support for establishing a more robust, high-grade production model. These results have also highlighted the critical importance of leveraging downhole geophysics to locate the highest-value mineralization targets at Current and Escape as we continue to advance the Thunder Bay North Project."

Table 1. Assay results from reported holes

Hole ID	From (m)	To (m)	Length (m)	Pt (g/t)	Pd (g/t)	Cu (%)	Ni (%)	Pt+Pd (g/t)	Cu+Ni (%)	Pteq1 (g/t)	Cueq2 (%)
CL25-004	117	136	19.0	1.11	1.00	0.25	0.21	2.11	0.46	3.51	1.17
Incl	128	134	6.0	2.32	2.06	0.54	0.31	4.38	0.85	7.00	2.35
Incl	128	132	4.0	2.73	2.43	0.61	0.34	5.16	0.95	8.13	2.72
CL25-005	110.0	151.0	41.0	4.52	4.29	0.97	0.52	8.81	1.49	13.20	4.42
incl.	121.0	149.0	28.0	5.75	5.37	1.18	0.61	11.12	1.79	16.42	5.50
incl.	138.0	148.0	10.0	7.87	7.34	1.57	0.90	15.20	2.47	22.39	7.50
Incl.	146.0	148.0	2.0	12.08	10.87	2.38	1.05	22.95	3.42	33.30	11.16
CL25-006	125.0	140.5	15.5	2.72	2.48	0.65	0.35	5.20	0.99	8.26	2.77
Incl	126.0	135.5	9.5	2.95	2.70	0.68	0.35	5.65	1.03	8.80	2.95
Incl	130.0	135.5	5.5	3.95	3.68	0.95	0.47	7.63	1.42	11.80	3.85

The Winter 2025 drilling program is strategically designed to increase the size, number, and grade of near-surface high-grade areas at the Current deposit, building on the strong results from the Summer 2024 program. The latest findings, in conjunction with earlier data, further validate the extension of mineralized zones beyond the scope of the most recent resource model (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023).

Unlike previous drilling, this hole intersected a high-grade zone carved into the footwall of the deposit, indicating a more expansive distribution of mineralization than is presently modeled. This result significantly alters the interpretation of the Current deposit, as it suggests that areas previously considered outside the core mineralized body may also host high-grade mineralization much like the irregular, high-concentration zones seen in the "ballrooms" below the JM Reef of the Stillwater Complex in Montana.

This discovery is pivotal for resource estimation, as it changes the parameters that will be used to estimate the sulfide-rich, high-grade zones. The new understanding of mineralization extending into the footwall and beyond the limits of previous models calls for a reassessment of the resource potential, particularly in terms of accurately capturing the extent of these higher-grade zones.

Furthermore, the potential for additional high-grade subzones in the region is significant. With continued drilling and an increased density of borehole electromagnetic (BHEM) surveys, we expect to identify new areas where mineralization could mirror the high-grade characteristics observed in CL25-005. Increasing drill density and utilizing BHEM to guide future drill targets will be essential to fully unlocking the high-grade potential of the Current and Escape deposits and identifying similar subzones that may have been missed by earlier exploration.

Figure 1. Plan view map showing drill hole locations for the ongoing 13-hole program at the Current deposit.

Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented, "The extension of high-grade mineralization into the footwall in hole CL25-005, combined with the fact that it remains open to the southwest, highlight the clear opportunity to increase the percentage of high-grade resource at Current. Drawing on the ballroom analogy, we will continue to target thick and high-grade mineralization in and below the existing mineralized shell. The use of BHEM surveys will be a critical tool in guiding our next phase of drilling, allowing us to identify new conductive targets and better define the full extent of the high-grade areas."

Figure 2. 3D showing drill intersects and the location of the mineralized "Ballroom structure" within the ultramafic conduit in the Lower Current Zone.

Table 2. Hole Coordinates

Hole ID	Easting- NAD83_16 (m)	Northing NAD83_16 (m)	Elevation (m)	Azimuth (deg)	Dip (deg)	Hole length (m)
CL25-004	357670	5402604	495	34.84	-84.59	165
CL25-005	357670	5402604	495	194.93	-84.43	165
CL25-006	357682	5402598	495	42.31	-84.05	165

Upcoming Investor Event

Clean Air Metals invites shareholders and interested parties to meet with Management and the Technical team at the upcoming PDAC convention Core Shack (#3107B) on March 4 and 5, 2025 at the Metro Toronto Convention Centre, Toronto.

Figure 3. Cross section showing along hole CL25-005. High grade mineralization remains open to the southwest and likely beyond the current limits of the Current conduit.

Qualified Person

Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President of 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 cores are cut with a diamond-tipped saw blade, and half are submitted to ALS for sample preparation and analysis. Sample preparation is completed at the ALS sample preparation facility in Thunder Bay, ON, and analysis is completed at the primary ALS assay laboratory in Vancouver, B.C.

Clean Air Metals follows a quality control procedure for its core assay sampling program: inserting blind blanks and certified Palladium-Platinum and Copper-Nickel standards into the sample stream. The insertion procedure follows industry standards with 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 optical emission spectroscopy (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 assay method with an ICP finish.

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals ("TBN") project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and next to established infrastructure, hosts two (2) deposits - the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 13.8 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge. 

One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.

Social Engagement

Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area. 

The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, 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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Mike Garbutt"

Mike Garbutt, CEO of Clean Air Metals Inc.

Connect with us on X / Facebook / Instagram.

Visit www.cleanairmetals.ca for more information or contact:

Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
mboiridy@cleanairmetals.ca

Neither 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. 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 projections.

SOURCE: Clean Air Metals, Inc.

View the original press release on ACCESS Newswire

FAQ

What are the latest drilling results from Clean Air Metals (CLRMF) at Thunder Bay North?

The latest drilling intersected 41.0m grading 13.2 g/t Pt.eq, including 10.0m with 1.57% Cu and 22.39 g/t Pt.eq in hole CL25-005.

How deep was the high-grade mineralization discovered in CLRMF's Current deposit?

The high-grade mineralization was discovered at 110 meters downhole in Hole CL25-005.

What is the significance of the 'Ballroom' structure discovery at CLRMF's Thunder Bay North project?

The Ballroom structure indicates potential for additional high-grade subzones and extends mineralization beyond previous models, similar to the JM Reef in Stillwater Complex.

What are the metal prices used for CLRMF's platinum equivalent calculations as of February 2025?

Metal prices used were: Pt $976, Pd $966, Cu $4.25, Ni $6.98, Au $2,939, Ag $32.89 (US Spot prices).

When will CLRMF release the remaining drill results from the Winter 2025 program?

Results from the remaining seven holes are pending and will be released once received.