Clean Air Metals Intersects 51.79 m Grading 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni Expanding the Near-Surface High-Grade Mineralization at the Thunder Bay North Project

Rhea-AI Summary

Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF) has announced impressive assay results from its Thunder Bay North Critical Minerals Project. Highlights include:

• Hole CL24-001: 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni
• Hole CL24-003: 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni

These results expand near-surface high-grade mineralization beyond previous resource models. The company aims to improve project economics by defining high-value mineralization within the Current and Escape deposits. CEO Mike Garbutt expressed enthusiasm about the exceptional grades, mineable widths, and near-surface location supporting future development. The drilling program targets near-surface, high-grade zones to improve continuity and total mineral resources.

Positive

• Exceptional high-grade drill results exceeding previous resource model expectations
• Expansion of near-surface high-grade mineralization, potentially improving project economics
• Successful implementation of new geological template for high-grade areas
• Presence of massive sulphides indicating potential for additional high-grade zones
• Results support strategy for smaller tonnage, high-grade, low-capital cost mine plan

Negative

• None.

THUNDER BAY, ON / ACCESSWIRE / September 10, 2024 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce assay results from the first two (2) holes drilled this summer at its 100%-owned Thunder Bay North Critical Minerals Project ("TBN").

Assay highlights include:

• 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni from 86 m downhole in Hole CL24-001, including

  • 11.51 g/t Pt, 10.64 g/t Pd, 2.61% Cu and 1.25% Ni over 9.29 m from 128 m, and

  • 25.82 g/t Pt, 24.50 g/t Pd, 6.94% Cu and 3.87 % Ni over 0.97 m from 136.3 m (Massive Sulphides).

• 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni from 118 m downhole in Hole CL24-003, including

  • 12.25m of 5.56g/t Pt, 5.48 g/t Pd, 1.19% Cu, 0.70% Ni, from 123 m.

The recently completed summer drilling program targeted near-surface high-grade zones within the Current deposit to better define their lateral continuity and tonnage potential. These initial results confirm that high-grade mineralization extends beyond what was outlined in the last resource model for this area (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023). Results from hole CL24-003 along, with adjacent holes, outline a potentially larger high-grade core within this section of the intrusion than previously evaluated (Figure 1).

Figure 1. Section showing CL24-003 in the Lower Current Zone and projected expansion of higher-grade shell.

Clean Air Metals' CEO Mike Garbutt commented, "We are encouraged by this program's first set of results. These exceptional grades, mineable widths, and near-surface location support the future development of this buildable asset. We are focused on significantly improving the TBN project economics by fully defining the highest value mineralization within the Current and Escape deposits. The initial results from this program have exceeded our expectations."

The goal of the program is to target near-surface, high-grade zones of mineralization and improve both the continuity and total mineral resource within these zones. The remaining eight (8) holes of the drill program have been completed and all have intersected mineralization in four separate targets. The assays on these holes are pending and will be released when received.

Early Drill Results Outline Improved Continuity

The new technical expertise brought to the project and led by Dr. Lionnel Djon resulted in a revised geological template for the high-grade areas at Thunder Bay North that mirrors flow processes similar to those associated with alluvial gold processes. In employing this template, the first two holes successfully expanded the zone of thick, high-grade pods along strike in the Lower Current zone. They also provide early "proof of concept" that increasing data density with tighter drilling could further extend the continuity of the high-grade mineralized zones within the deposit and contribute to increased tonnage and grade.

Following results from the remaining drill holes of the summer 2024 campaign, the Company will develop an exploration program designed to discover new high-grade zones within the Current and Escape deposits and a resource delineation program to increase the resources contained in the additional high-grade areas that occur at both the Current and Escape deposits.

The Presence of Massive Sulphides is Significant

Hole CL24-001 intersected 0.97m of massive sulphides (Figure 2)near the base of the intrusion, in a zone where reduced magma flow and cooling conditions promoted sulphide settling and metal concentration, leading to the formation of high-grade mineralization. Past drilling at the Current and Escape deposits has also intersected pockets of high-grade massive sulphides in similar embayments in the intrusion. These occurrences demonstrate the potential for these deposits to host additional massive sulphide, and continued exploration work is needed to identify the feeder zone for this material.

Figure 2. Massive sulphide core from hole CL24-001.

Drill Results Support the Strategy for Thunder Bay North Project Development

The positive results from this program support our view that both deposits together can support a smaller tonnage, high-grade and low -capital cost mine plan. The higher -grade mineralization is spatially distributed in distinct and separable zones that allow for targeted extraction using traditional open stoping-stope mining methods. This approach will form the foundation for a future technical study, following the results of the next phase of drilling.

To further de-risk that project, the Company is contemplating a move to advanced exploration that is highlighted by the potential extraction of a bulk sample from the Bridge zone at the Current deposit. The goal for the bulk sample will be to validate the high-grade mining approach outlined above, as well as quantify the metallurgical performance of a toll milling scenario on a larger scale.

Other Activities

The Company received an exploration permit on August 6, 2024, for the other intrusions located on the claim package - the Lone Island North and South and 025 intrusions. While no work is planned for this area in 2024, the Company is defining a potential 2025 exploration program there.

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.

Table 1. Hole Coordinates

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. 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 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 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 accesswire.com

FAQ

What are the key assay results from Clean Air Metals' Thunder Bay North Project?

Key assay results include 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni in Hole CL24-001, and 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni in Hole CL24-003.

How do the new drill results impact Clean Air Metals' (CLRMF) project development strategy?

The results support a strategy for a smaller tonnage, high-grade, and low-capital cost mine plan. The high-grade mineralization is spatially distributed in distinct zones, allowing for targeted extraction using traditional open stoping-stope mining methods.

What is the significance of finding massive sulphides in Clean Air Metals' (CLRMF) drilling program?

The presence of massive sulphides, as found in Hole CL24-001, indicates potential for additional high-grade zones within the deposits. It demonstrates the possibility of hosting more massive sulphide pockets, warranting further exploration to identify the feeder zone for this material.

What are Clean Air Metals' (CLRMF) next steps for the Thunder Bay North Project?

The company plans to develop an exploration program to discover new high-grade zones and increase resources in high-grade areas of both Current and Escape deposits. They are also considering advanced exploration, including a potential bulk sample extraction from the Bridge zone at the Current deposit.