Clean Air Metals Provides Corporate Update
On August 3, 2021, Clean Air Metals announced the mobilization of a drill to the Beaver Lake Zone for 2700m of confirmatory infill drilling supporting a Preliminary Economic Assessment (PEA) expected in Q4 2021. The Company has also engaged Generation IACP Inc. for market-making services for six months at $7,500 per month, pending TSX Venture Exchange approval. Clean Air Metals emphasizes adherence to COVID-19 measures for its staff and acknowledges partnerships with local First Nations, enhancing community relations.
- Engagement of Generation IACP for market-making services enhances liquidity.
- Infill drilling supports PEA, potentially improving project valuation.
- Forward-looking statements indicate risks of delays and uncertainties in exploration outcomes.
- Financial commitment of $7,500 per month for market-making may limit cash flow.
THUNDER BAY, ON, Aug. 3, 2021 /PRNewswire/ - Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV: AIR) announces that it has remobilized one drill and crew to the Beaver Lake Zone area of the Current Lake deposit, to complete approximately 2700m of confirmatory infill drilling in support of the Preliminary Economic Assessment ("PEA") expected in Q4/2021.
The Company also announces that it has entered into a market making agreement (the "Agreement") to retain the services of Generation IACP Inc. under the direction of principal consultant Ari Scheer.
Under the terms of the Agreement, Generation IACP Inc. will provide market making services on behalf of the Company for an initial six-month term commencing August 1, 2021, at a cost of
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 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/ ).
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
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 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.
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SOURCE Clean Air Metals Inc.
FAQ
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