Clean Air Metals Reports New Drill Results from both the Current Lake and Escape Lake Deposits of the Thunder Bay North Project including 76.7m of 5.67g/t PdEq with 21.0m of 9.98g/t PdEq
On September 7, 2021, Clean Air Metals announced positive assay results from its Thunder Bay North Project. Significant findings include Hole ELR21-077, which intersected 76.6m grading 5.67g/t PdEq, featuring high grades of Palladium, Platinum, Copper, and Nickel. The Escape Lake Deposit has expanded and an updated mineral resource is planned for Q1 2022. The Current Lake Deposit shows a well-defined Indicated resource of 1,328,789 PdEq ounces, with a Preliminary Economic Assessment due in Q4. Ongoing metallurgical studies are set to enhance project valuation.
- Hole ELR21-077 intersected 76.6m grading 5.67g/t PdEq.
- Expansion of the Escape Lake Deposit enhances project scale.
- Current Lake Deposit has an Indicated resource of 1,328,789 PdEq ounces.
- Preliminary Economic Assessment (PEA) for the Current Lake Deposit expected in Q4 2021.
- Recent drought conditions restricted drilling operations.
- Potential uncertainties regarding the PEA outcomes.
THUNDER BAY, ON, Sept. 7, 2021 /PRNewswire/ - 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"). Assay highlights (from Table 1) include:
For the Escape Lake deposit:
- Hole ELR21-077 intersected 76.6m grading 5.67g/t Palladium Equivalents (PdEq)1 composed of 1.63g/t Platinum (Pt), 2.14g/t Palladium (Pd),
0.81% Copper (Cu),0.41% Nickel (Ni) from 345.0m-421.6m downhole including 21.0m grading 9.98g/t PdEq composed of 2.97 g/t Platinum (Pt), 3.93g/t Palladium (Pd),1.41% Copper (Cu),0.68% Nickel (Ni) from 392.0m-413.0m downhole (Figure 1).
The Escape Lake Deposit has been the focus of the majority of the drilling over the past 14 months. Since the maiden resource published in January 2021 of 505,369 ounces at 3.67 g/t PdEq in 4.28 million tonnes, the Clean Air Metals team has successfully expanded the size of the Escape South High Grade Zone and demonstrated approximately 700m of mineralization along trend. Hole ELR21-077 with its significant thickness and grade appears to further expand the edge of the Escape Lake High Grade Zone and demonstrates potential contribution of scale of the Escape Lake Deposit to the overall Thunder Bay North Project. An updated mineral resource for the Escape Lake Deposit is currently planned for Q1 2022.
The Current Lake Deposit has a well-defined Indicated mineral resource of 1,328,789 PdEq ounces at a grade of 3.44 g/t PdEq in 11.99 million tonnes and is currently well advanced with a Preliminary Economic Assessment (PEA) study to be published in Q4 this year. The PEA-level mine stope optimization in the Beaver Lake Zone area of the Current Lake Deposit may be enhanced by the results of a recent infill drill program, including the following highlight results:
- Hole CL21-007 which intersected 13.49m grading 6.09 g/t PdEq composed of 2.79 g/t Platinum (Pt), 2.61g/t Palladium (Pd),
0.52% Copper (Cu) and0.31% Nickel (Ni) from 140.2 – 153.7m downhole (Figure 2). - Hole CL21-006 which intersected 14.83m grading 4.65 g/t PdEq composed of 1.92 g/t Platinum (Pt), 1.90g/t Palladium (Pd),
0.46% Copper (Cu) and0.28% Nickel (Ni) from 152.2 – 167.0m downhole (Figure 2). - Hole CL21-008 which intersected 20.0m grading 3.43 g/t PdEq composed of 1.55 g/t Platinum (Pt), 1.41g/t Palladium (Pd),
0.26% Copper (Cu) and0.20% Nickel (Ni) from 142.0 – 162.0m downhole (Figure 2).
__________________________ | |
1 | Palladium equivalency formula can be viewed in the following Link (Click Here) |
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, 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. The results of the metallurgical studies on drill-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 early Q4/2021.
Abraham Drost, CEO of Clean Air Metals stated that "infill assay results from the Beaver Lake Zone of the Current Lake deposit infill drilling ("CL" holes) is an affirmation of our understanding of the deposit and ability to target and execute on drilling which has the potential to materially impact the results of the upcoming PEA. This bodes well for future upgrade drilling on the large inferred resource down plunge which will occur at future study phases. The Company is looking forward to publication of a PEA in Q4/21 based solely on the Current Lake Deposit. As with the mineral resource estimate published in March, 2021, the PEA will be based on a ramp-access underground mine model constraining the existing mineral resource. In addition to the Current Lake Deposit, the potential to add scale to the Thunder Bay North Project with feed from the Escape Lake Deposit is potentially accretive to the project.
Recent drought conditions and regional forest fire activity imposed certain restrictions and precluded the construction of new drill pads on the Thunder Bay North Project. The Clean Air Metals geology team found innovative ways of keeping the drills running, including utilizing previous pads using angled holes to test edges and in the case of Hole ELR21-077, to expand the margins of the Escape South High Grade Zone. Fortunately, the drought has ended and the fire ban has now lifted. The present round of assay results is also being added to the Escape Lake deposit database ("ELR" holes) which will result in a revised mineral resource estimate in Q1/22."
Table 1: New Assay Results Update – Thunder Bay North Project
Hole ID | From, | To, | Length, | Pt+Pd | Cu+Ni | Pt | Pd | Cu | Ni(%) | PdEq |
ELR21-075 | 325.86 | 334.00 | 8.14 | 1.43 | 0.48 | 0.65 | 0.78 | 0.27 | 0.21 | 2.28 |
ELR21-075 | 336.73 | 347.00 | 10.27 | 2.12 | 0.64 | 0.96 | 1.16 | 0.39 | 0.25 | 3.17 |
ELR21-077 | 325.00 | 341.00 | 16.00 | 2.08 | 0.67 | 0.90 | 1.18 | 0.45 | 0.22 | 3.17 |
ELR21-077 | 345.00 | 421.60 | 76.60 | 3.77 | 1.23 | 1.63 | 2.14 | 0.81 | 0.41 | 5.67 |
**incl. | 392.00 | 413.00 | 21.00 | 6.90 | 2.09 | 2.97 | 3.93 | 1.41 | 0.68 | 9.98 |
ELR21-078 | 395.00 | 398.75 | 3.75 | 3.34 | 0.77 | 1.60 | 1.75 | 0.64 | 0.14 | 4.23 |
CL21-005 | 148.00 | 153.00 | 5.00 | 1.88 | 0.40 | 0.95 | 0.93 | 0.22 | 0.19 | 2.47 |
CL21-005 | 159.00 | 162.14 | 3.14 | 1.88 | 0.37 | 0.98 | 0.90 | 0.22 | 0.15 | 2.31 |
CL21-006 | 152.17 | 167.00 | 14.83 | 3.82 | 0.73 | 1.92 | 1.90 | 0.46 | 0.28 | 4.65 |
CL21-007 | 134.20 | 136.20 | 2.00 | 1.49 | 0.24 | 0.79 | 0.70 | 0.11 | 0.12 | 1.79 |
CL21-007 | 140.20 | 153.69 | 13.49 | 5.39 | 0.83 | 2.79 | 2.61 | 0.52 | 0.31 | 6.09 |
CL21-007 | 198.10 | 201.00 | 2.90 | 2.38 | 0.72 | 1.17 | 1.21 | 0.41 | 0.31 | 3.51 |
CL21-008 | 142.00 | 162.00 | 20.00 | 2.96 | 0.46 | 1.55 | 1.41 | 0.26 | 0.20 | 3.43 |
CL21-009 | 144.05 | 146.05 | 2.00 | 2.08 | 0.37 | 1.08 | 1.00 | 0.20 | 0.17 | 2.53 |
CL21-009 | 208.00 | 212.40 | 4.40 | 4.73 | 1.55 | 2.42 | 2.31 | 0.93 | 0.62 | 7.11 |
CL21-010 | 147.59 | 149.59 | 2.00 | 1.54 | 0.29 | 0.82 | 0.72 | 0.12 | 0.17 | 1.97 |
CL21-010 | 151.61 | 153.61 | 2.00 | 1.90 | 0.34 | 0.93 | 0.97 | 0.18 | 0.17 | 2.36 |
Note: | |
1) | All intercepts are estimated to be > |
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 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 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, M.Sc., P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project 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 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 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
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.
The Company is also in discussions with Red Sky Metis Independent Nation and the Metis Nation of Ontario and other non-proximate First Nation communities. 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 (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.
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FAQ
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