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About Clean Air Metals Inc. (Symbol: CLRMF)
Clean Air Metals Inc. is a Canadian-based development and exploration company dedicated to advancing its flagship asset, the Thunder Bay North (TBN) Critical Minerals Project, located approximately 40 kilometers northeast of Thunder Bay, Ontario. The TBN project is strategically positioned in a mining-friendly jurisdiction and boasts proximity to established infrastructure, making it a highly accessible site for exploration and development activities.
Core Operations and Resource Potential
The Thunder Bay North project consists of two primary deposits, the Current and Escape deposits, which are only 2.5 kilometers apart. Together, these deposits host an indicated mineral resource of 13.8 million tonnes containing 2.4 million platinum equivalent (Pt eq.) ounces, as per a 2023 NI 43-101 technical report. This makes the TBN project one of the rare primary platinum resources outside of South Africa, with significant associated copper and nickel mineralization. The deposits also hold substantial potential for resource expansion, particularly in down-plunge areas.
Strategic Focus: High-Grade, Low-Tonnage Mining
Clean Air Metals employs a high-grade, low-tonnage mining strategy designed to maximize margins and minimize capital expenditure. Recent drilling programs have focused on delineating and expanding high-grade pods within the Current deposit, yielding exceptional assay results that underscore the project's economic viability. The company is also leveraging advanced geophysical modeling, including resistivity-depth imaging, to identify new high-grade targets and refine its exploration efforts further.
Commitment to ESG and Indigenous Collaboration
Clean Air Metals is deeply committed to environmental, social, and governance (ESG) principles. The TBN project is located within the traditional territories of several First Nations and Métis communities, and the company actively fosters respectful and collaborative relationships with these groups. This includes acknowledgment of Indigenous heritage and a commitment to reconciliation through mutual trust, respect, and collaboration.
Industry Significance and Market Position
The company's focus on platinum group elements (PGEs) and associated critical minerals positions it as a key player in the global energy transition. PGEs are essential for catalytic converters, hydrogen fuel cells, and other green energy technologies, while copper and nickel are critical for electrification and battery production. Operating in a stable jurisdiction with a proven technical team, Clean Air Metals is well-poised to capitalize on the growing demand for these critical resources.
Technical Expertise and Future Development
Led by a team of seasoned mining professionals, Clean Air Metals is advancing its project through a phased approach that includes resource expansion, advanced exploration permitting, and potential bulk sampling. The company has also secured funding from the Ontario Junior Exploration Program to further its exploration initiatives. Future plans include a Preliminary Economic Assessment (PEA) to outline a high-grade, high-margin development strategy for the TBN project.
Competitive Advantages
- Rare Resource Base: One of the few primary platinum resources outside South Africa.
- Strategic Location: Proximity to infrastructure and operations in a mining-friendly jurisdiction.
- Technical Innovation: Use of advanced geophysical tools to optimize exploration.
- ESG Commitment: Strong relationships with Indigenous communities and adherence to sustainable practices.
Conclusion
Clean Air Metals Inc. is a forward-thinking exploration company uniquely positioned to meet the rising demand for critical minerals essential to the global energy transition. With its high-grade, low-tonnage mining strategy, commitment to ESG principles, and focus on technical excellence, the company offers significant long-term value potential for stakeholders.
Clean Air Metals announced new assay results from the 2021 drilling campaign at its Thunder Bay North Project, indicating significant mineralization in the Escape and Current deposits. Notable results include Hole ELR21-083A, which intersected 46.0m grading 19.6 g/t PtEq, suggesting robust continuity of mineralization. The Escape Deposit's ongoing drilling aims to enhance its Indicated resource of 849,481 ounces PtEq. A Preliminary Economic Assessment highlights high-value mining areas, with plans for 10,000m of infill drilling to improve resource estimates.
Clean Air Metals Inc. (CLRMF) has filed its condensed interim financial statements for the nine-month period ending October 31, 2021. As of that date, total assets were $36,713,683, with cash reserves of $4,597,966 and working capital of $1,909,343. The company continues its diamond drill program focusing on the Thunder Bay North project, which currently hosts a combined mineral resource of 1,834,158 oz PdEq across two deposits. Operating expenses for Q3 were $1,056,915, with a net loss of $43,617.
Clean Air Metals has announced the completion of a Preliminary Economic Assessment (PEA) for its Thunder Bay North Project, which showcases strong financial metrics. The project holds a pre-tax NPV of $425 million and an after-tax NPV of $378 million, with an internal rate of return (IRR) of 31.1% pre-tax. Expected revenues average $239.8 million annually from mining platinum, palladium, copper, and nickel over a projected 10-year mine life. The capital payback is projected at 2.4 years, with an operating margin of 53%.
Clean Air Metals Inc. (OTCQB: CLRMF) has made a final payment of CAD $1 million to Rio Tinto Exploration Canada Inc. to fulfill its obligations under a definitive option agreement with Benton Resources Inc. for the Escape Lake Property. This payment, due by October 2022, was accelerated by Clean Air Metals. Following this, Benton will hold 100% rights to the property, granting Clean Air Metals the option to acquire it under predetermined terms. The company is actively exploring the high-grade Thunder Bay North Project, which includes the Current Lake and Escape Lake deposits.
Clean Air Metals has appointed Shannin Metatawabin to its Board of Directors, effective immediately. Metatawabin, currently the CEO of the National Aboriginal Capital Corporations Association, has extensive experience in economic development for Indigenous communities. He will provide valuable insights as the company advances its Thunder Bay North project. As part of his appointment, the company granted him 400,000 stock options at $0.265 per share. Clean Air Metals emphasizes its commitment to ESG principles and community engagement in its operations.
Clean Air Metals has announced new assay results from its Thunder Bay North Project, highlighting drilling progress at the Escape and Current deposits. The Escape Deposit has seen expansion drilling of nearly 30,000m, while the Current Deposit holds a well-defined Indicated mineral resource of 1,328,789 PdEq ounces. Notable assay results from recent drilling include significant grades from various holes, with Hole ELR21-085 showing 16.1m grading 4.20g/t PdEq. The company's ongoing metallurgical studies are set to inform a Preliminary Economic Assessment (PEA) planned for release in Q4 2021.
Clean Air Metals Inc. has made a CAD $1 million payment to Rio Tinto Exploration Canada to fulfill a payment requirement for Benton Resources. This is part of a larger CAD $6 million agreement for the Escape Lake Property. Additionally, Clean Air Metals acquired the TBN Property, which includes the Current Lake Deposit, and has committed to CAD $9 million in payments to Magma over three years. The company acknowledges collaboration with local First Nations and recognizes the project's environmental implications.
Clean Air Metals has appointed Dr. Geoff Heggie as the new Exploration Manager, succeeding Allan MacTavish, who will remain as a consultant. Dr. Heggie brings 7 years of experience from the Thunder Bay North Project and contributions from Noront Resources. Recent drilling at the Project revealed impressive assay results, including 21.3m grading 4.80g/t Palladium Equivalents. The company is set to publish a Preliminary Economic Assessment (PEA) in Q4 2021, enhancing its underground mine model based on Current and Escape Lake deposits.
Clean Air Metals has filed its interim financial statements for the six-month period ending July 31, 2021. Key highlights include total assets of $37,696,643, cash of $9,164,586, and working capital of $5,927,070. The company recently closed a $11.5 million private placement and initiated a 30,000 meter diamond drill program at the Thunder Bay North Project. It aims to enhance palladium equivalent resources while also conducting metallurgical studies for a Preliminary Economic Assessment set for Q4 2021.
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.
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