THUNDER BAY, ON, Jan. 20, 2021 /CNW/ - Clean Air Metals Inc.
("Clean Air Metals" or the
"Company") (TSXV: AIR) (OTCQB:
CLRMF) (FRA: CKU) is pleased to announce that the Company has
released an updated Indicated and Inferred mineral resource
estimate prepared in accordance with National Instrument 43-101
("NI 43-101") for the Company's 100%-owned Thunder Bay North
Project (the "Project") which includes both the Current Lake
and Escape Lake deposits.
The mineral resource estimate was prepared by Nordmin
Engineering Ltd. ("Nordmin") and is based on an underground
ramp-access constrained resource model with a cutoff value equating
to 1.56 g/tonne PdEq (2.56 g/tonne PtEq) using 3-year trailing
average metal prices for all metals except cobalt, which used a
2-year trailing average as described below in Table 8. A technical
report will be filed on SEDAR within 45 days of the date of this
news release.
The Current Lake Deposit contains an Indicated mineral resource
of 11,999,177 tonnes grading 3.44 g/t PdEq and an Inferred mineral
resource of 6,406,960 tonnes grading 2.02 g/tonne PdEq (See Table
1; Figure 2).
The Escape Lake Deposit contains an Indicated mineral resource
of 4,286,220 tonnes grading 3.67 g/t PdEq and an Inferred mineral
resource of 3,445,179 tonnes grading 2.23 g/tonne PdEq (See Table
2; Figure 3).
Highlights
- Indicated mineral resources at Thunder Bay North Project are
approximately 1.33 million oz PdEq in the Current Lake Deposit and
0.50 million oz PdEq in the Escape Lake Deposit.
- Inferred mineral resources at Thunder Bay North Project are
approximately 0.41 million oz PdEq in the Current Lake Deposit and
0.25 million oz PdEq in the Escape Lake Deposit.
- The underground resource at the Current Lake Deposit will now
be the focus of a Preliminary Economic Assessment which will
include specific work on geotechnical analysis and bench scale
testing on a drilled bulk sample of mineralized material to verify
metallurgical recoveries.
- The Indicated mineral resource is developed in multiple zones
which exhibit a variable grade profile with highest grades
occurring at relatively shallow depths, including the lower Current
Zone and Bridge Zone in the Current Lake Deposit. (See Table 3;
Figure 1).
- The initial mineral resource at Escape Lake is geologically
open and will be the target of an extensive systematic drilling
program planned for 2021.
- Current Lake and Escape Lake are polymetallic deposits with a
roughly 1:1 platinum to palladium ratio and comparable geological
attributes and metal grades.
- Nickel and Copper contribute significant metal values and will
be tested for metallurgical flotation and recovery potential.
- Gold, Silver, Cobalt and Rhodium are potentially valuable
byproducts in the metal mix at Thunder Bay North Project.
Table 1: Thunder Bay North Project - Grade
Summary
|
Grade
|
Category
|
Tonnes
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
Rh
(g/t)
|
Co
(g/t)
|
Cu
(%)
|
Ni
(%)
|
PtEq
(g/t)
|
PdEq
(g/t)
|
Indicated - Current
Lake
|
11,999,177
|
1.48
|
1.40
|
0.07
|
1.32
|
0.04
|
137
|
0.28
|
0.17
|
5.79
|
3.44
|
Indicated - Escape
Lake
|
4,286,220
|
0.92
|
1.18
|
0.12
|
2.45
|
0.06
|
209
|
0.52
|
0.28
|
6.16
|
3.67
|
TOTAL INDICATED
RESOURCE
|
16,285,396
|
1.33
|
1.34
|
0.08
|
1.62
|
0.05
|
156
|
0.34
|
0.20
|
5.89
|
3.50
|
Inferred - Current
Lake
|
6,406,960
|
0.68
|
0.65
|
0.06
|
0.95
|
0.01
|
123
|
0.30
|
0.14
|
3.40
|
2.02
|
Inferred - Escape
Lake
|
3,445,179
|
0.64
|
0.73
|
0.07
|
1.13
|
0.00
|
173
|
0.33
|
0.18
|
3.75
|
2.23
|
TOTAL INFERRED
RESOURCE
|
9,852,138
|
0.67
|
0.68
|
0.07
|
1.01
|
0.01
|
140
|
0.31
|
0.15
|
3.52
|
2.10
|
Notes: See
section "Input Parameters for Resource Calculation" below. Mineral
Resources are not Mineral Reserves and do not have demonstrated
economic viability.
|
Table 2: Thunder Bay North Project - Contained
Metal
|
Metal
|
Category
|
Tonnes
|
Pt
(Oz)
|
Pd
(Oz)
|
Au
(Oz)
|
Ag
(Oz)
|
Rh
(Oz)
|
Co
(Tonnes)
|
Cu
(Tonnes)
|
Ni
(Tonnes)
|
PtEq
(Oz)
|
PdEq
(Oz)
|
Indicated - Current
Lake
|
11,999,177
|
569,176
|
538,181
|
26,121
|
508,434
|
16,998
|
1,649
|
33,751
|
20,969
|
2,233,575
|
1,328,789
|
Indicated - Escape
Lake
|
4,286,220
|
127,090
|
162,337
|
16,928
|
337,946
|
8,009
|
896
|
22,390
|
12,016
|
849,481
|
505,369
|
TOTAL INDICATED
RESOURCE
|
16,285,396
|
696,266
|
700,517
|
43,050
|
846,380
|
25,008
|
2,544
|
56,141
|
32,985
|
3,083,056
|
1,834,158
|
Inferred - Current
Lake
|
6,406,960
|
140,400
|
133,333
|
12,888
|
195,484
|
1,836
|
785
|
19,155
|
9,113
|
700,621
|
416,810
|
Inferred - Escape
Lake
|
3,445,179
|
70,520
|
80,989
|
7,754
|
124,809
|
71
|
595
|
11,293
|
6,046
|
414,932
|
246,850
|
TOTAL INFERRED
RESOURCE
|
9,852,138
|
210,919
|
214,322
|
20,642
|
320,293
|
1,907
|
1,380
|
30,449
|
15,159
|
1,115,553
|
663,660
|
Notes: See
section "Input Parameters for Resource Calculation" below. Mineral
Resources are not Mineral Reserves and do not have demonstrated
economic viability.
|
Webinar
Clean Air Metals will be conducting a webinar to discuss the
resource update with Amvest Capital on January 26th at 4:05pm EST. Please see the link below:
Link:
https://attendee.gotowebinar.com/register/3724157345636755725?source=co
Executive Comments
Abraham Drost,
P.Geo., CEO of Clean Air
Metals stated, "We are very pleased for our
shareholders and participating First Nations with this milestone
mineral resource study. An underground ramp-access mine
planning approach by Nordmin Engineering has been the key to unlock
value at the Thunder Bay North Project. We look forward
to a busy year ahead as we continue drilling with two drills
in an effort to increase and upgrade mineral resources at
the Escape Lake. We also plan on adding a drill at the Current Lake
Deposit focused on upgrading Inferred material to
Indicated and testing nearby greenfields exploration targets
with massive sulphide potential."
Jim Gallagher, P.Eng.,
Executive Chairman of Clean Air Metals stated, "The broad
suite of metals contained in the Thunder Bay North deposits is
quite unique and positions the Company well for participation in
the transition to a low carbon transportation future. Tougher
emissions standards worldwide have significantly increased loadings
of Palladium and Rhodium in auto catalysts pushing prices to near
record levels. Platinum prices have risen sharply in the last
several months as hydrogen and fuel cells become a viable
alternative especially in the trucking and long-distance
transportation sectors. Nickel, Copper and Cobalt are key to the
battery electric revolution and Gold and Silver provide a potential
sweetener to a future revenue stream. Subject to future feasibility
studies around economic viability, this could give Clean Air Metals
a natural hedge against fluctuating metal prices regardless of
which technology becomes dominant."
Table 3: Current Lake Deposit – Grade
Summary
|
Grade
|
Category
|
Area
|
Tonnes
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
Rh
(g/t)
|
Co
(g/t)
|
Cu
(%)
|
Ni
(%)
|
PtEq
(g/t)
|
PdEq
(g/t)
|
Indicated - Current
Lake
|
Upper
Current
|
1,089,212
|
1.60
|
1.50
|
0.08
|
1.72
|
0.07
|
148
|
0.35
|
0.20
|
6.50
|
3.87
|
|
Current
|
1,534,911
|
2.10
|
1.96
|
0.11
|
2.25
|
0.05
|
142
|
0.41
|
0.21
|
7.97
|
4.74
|
|
Bridge
|
3,355,050
|
1.72
|
1.67
|
0.08
|
1.49
|
0.05
|
130
|
0.35
|
0.17
|
6.67
|
3.97
|
|
Beaver
|
4,481,507
|
1.23
|
1.14
|
0.05
|
1.00
|
0.03
|
139
|
0.20
|
0.16
|
4.82
|
2.87
|
|
Cloud
|
1,538,497
|
0.93
|
0.89
|
0.04
|
0.66
|
0.04
|
136
|
0.17
|
0.16
|
4.00
|
2.38
|
|
437-SE
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
TOTAL INDICATED
RESOURCE
|
11,999,177
|
1.48
|
1.40
|
0.07
|
1.32
|
0.04
|
137
|
0.28
|
0.17
|
5.79
|
3.44
|
Inferred - Current
Lake
|
Upper
Current
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Current
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Bridge
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Beaver
|
1,735,331
|
0.80
|
0.75
|
0.05
|
0.79
|
0.02
|
146
|
0.20
|
0.18
|
3.72
|
2.21
|
|
Cloud
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
437-SE
|
4,671,629
|
0.64
|
0.61
|
0.07
|
1.01
|
0.01
|
114
|
0.34
|
0.13
|
3.28
|
1.95
|
TOTAL INFERRED
RESOURCE
|
6,406,960
|
0.68
|
0.65
|
0.06
|
0.95
|
0.01
|
123
|
0.30
|
0.14
|
3.40
|
2.02
|
Notes: See
section "Input Parameters for Resource Calculation"
below.
|
Table 4: Current Lake Deposit - Contained
Metal
|
Metal
|
Category
|
Area
|
Tonnes
|
Pt
(Oz)
|
Pd
(Oz)
|
Au
(Oz)
|
Ag
(Oz)
|
Rh
(Oz)
|
Co
(Tonnes)
|
Cu
(Tonnes)
|
Ni
(Tonnes)
|
PtEq
(Oz)
|
PdEq
(Oz)
|
Indicated - Current
Lake
|
Upper
Current
|
1,089,212
|
56,185
|
52,487
|
2,692
|
60,154
|
2,342
|
161
|
3,800
|
2,150
|
227,801
|
135,523
|
|
Current
|
1,534,911
|
103,563
|
96,875
|
5,220
|
111,114
|
2,677
|
218
|
6,328
|
3,259
|
393,310
|
233,986
|
|
Bridge
|
3,355,050
|
185,255
|
179,929
|
8,702
|
160,257
|
5,079
|
436
|
11,851
|
5,832
|
720,020
|
428,351
|
|
Beaver
|
4,481,507
|
177,932
|
164,879
|
7,292
|
144,294
|
4,842
|
625
|
9,168
|
7,343
|
694,657
|
413,262
|
|
Cloud
|
1,538,497
|
46,241
|
44,010
|
2,216
|
32,615
|
2,058
|
209
|
2,604
|
2,385
|
197,787
|
117,667
|
|
437-SE
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
TOTAL INDICATED
RESOURCE
|
11,999,177
|
569,176
|
538,181
|
26,121
|
508,434
|
16,998
|
1,649
|
33,751
|
20,969
|
2,233,575
|
1,328,789
|
Inferred - Current
Lake
|
Upper
Current
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Current
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Bridge
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Beaver
|
1,735,331
|
44,527
|
41,708
|
2,718
|
44,020
|
1,031
|
253
|
3,446
|
3,203
|
207,495
|
123,442
|
|
Cloud
|
0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
437-SE
|
4,671,629
|
95,873
|
91,625
|
10,170
|
151,464
|
806
|
533
|
15,709
|
5,910
|
493,125
|
293,368
|
TOTAL INFERRED
RESOURCE
|
6,406,960
|
140,400
|
133,333
|
12,888
|
195,484
|
1,836
|
785
|
19,155
|
9,113
|
700,621
|
416,810
|
Notes: See
section "Input Parameters for Resource Calculation"
below.
|
Table 5: Escape Lake Deposit – Grade
Summary
|
Grade
|
Category
|
Area
|
Tonnes
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
Rh
(g/t)
|
Co
(g/t)
|
Cu
(%)
|
Ni
(%)
|
PtEq
(g/t)
|
PdEq
(g/t)
|
Indicated - Escape
Lake
|
Steepledge
North
|
135,650
|
0.71
|
0.81
|
0.06
|
1.28
|
0.01
|
157
|
0.28
|
0.18
|
3.87
|
2.30
|
|
Steepledge
South
|
45,180
|
0.87
|
1.02
|
0.05
|
1.14
|
0.00
|
141
|
0.28
|
0.17
|
4.25
|
2.53
|
|
Escape South
Perimeter
|
1,754,080
|
0.48
|
0.58
|
0.08
|
1.45
|
0.03
|
176
|
0.37
|
0.21
|
3.78
|
2.26
|
|
Escape South
High-Grade Zone
|
2,351,310
|
1.27
|
1.65
|
0.16
|
3.29
|
0.08
|
238
|
0.66
|
0.34
|
8.11
|
4.82
|
TOTAL INDICATED
RESOURCE
|
4,286,220
|
0.92
|
1.18
|
0.12
|
2.45
|
0.06
|
208.95
|
0.52
|
0.28
|
6.16
|
3.67
|
Inferred - Escape
Lake
|
Steepledge
North
|
148,609
|
0.44
|
0.52
|
0.05
|
0.53
|
0.00
|
150
|
0.26
|
0.21
|
3.14
|
1.87
|
|
Steepledge
South
|
2,287,589
|
0.74
|
0.84
|
0.07
|
1.15
|
0.00
|
173
|
0.32
|
0.16
|
3.96
|
2.36
|
|
Escape South
Perimeter
|
915,422
|
0.43
|
0.53
|
0.08
|
1.13
|
0.00
|
173
|
0.35
|
0.19
|
3.35
|
1.99
|
|
Escape South
High-Grade Zone
|
93,559
|
0.43
|
0.34
|
0.09
|
1.45
|
0.01
|
191
|
0.38
|
0.20
|
3.29
|
1.96
|
TOTAL INFERRED
RESOURCE
|
3,445,179
|
0.64
|
0.73
|
0.07
|
1.13
|
0.00
|
173
|
0.33
|
0.18
|
3.75
|
2.23
|
Notes: See
section "Input Parameters for Resource Calculation"
below.
|
Table 6: Escape Lake Deposit – Contained
Metal
|
Metal
|
Category
|
Area
|
Tonnes
|
Pt
(Oz)
|
Pd
(Oz)
|
Au
(Oz)
|
Ag
(Oz)
|
Rh
(Oz)
|
Co
(Tonnes)
|
Cu
(Tonnes)
|
Ni
(Tonnes)
|
PtEq
(Oz)
|
PdEq
(Oz)
|
Indicated - Escape
Lake
|
Steepledge
North
|
135,650
|
3,087
|
3,545
|
266
|
5,577
|
43
|
21
|
383
|
238
|
16,897
|
10,053
|
|
Steepledge
South
|
45,180
|
1,258
|
1,485
|
79
|
1,653
|
0
|
6
|
125
|
76
|
6,175
|
3,673
|
|
Escape South
Perimeter
|
1,754,080
|
27,083
|
32,687
|
4,689
|
81,633
|
1,970
|
308
|
6,458
|
3,617
|
213,401
|
127,264
|
|
Escape South
High-Grade Zone
|
2,351,310
|
95,662
|
124,619
|
11,894
|
249,083
|
5,996
|
560
|
15,424
|
8,085
|
613,007
|
364,380
|
TOTAL INDICATED
RESOURCE
|
4,286,220
|
127,090
|
162,337
|
16,928
|
337,946
|
8,009
|
896
|
22,390
|
12,016
|
849,481
|
505,369
|
Inferred - Escape
Lake
|
Steepledge
North
|
148,609
|
2,119
|
2,462
|
255
|
2,508
|
0
|
22
|
394
|
309
|
14,985
|
8,915
|
|
Steepledge
South
|
2,287,589
|
54,498
|
61,920
|
4,869
|
84,680
|
0
|
396
|
7,321
|
3,771
|
291,351
|
173,329
|
|
Escape South
Perimeter
|
915,422
|
12,884
|
15,314
|
2,353
|
33,246
|
42
|
158
|
3,226
|
1,775
|
98,690
|
58,709
|
|
Escape South
High-Grade Zone
|
93,559
|
1,019
|
1,293
|
276
|
4,375
|
29
|
18
|
353
|
190
|
9,905
|
5,896
|
TOTAL INFERRED
RESOURCE
|
3,445,179
|
70,520
|
80,989
|
7,754
|
124,809
|
71
|
595
|
11,293
|
6,046
|
414,932
|
246,849
|
Notes: See
section "Input Parameters for Resource Calculation"
below.
|
2021 Exploration Update
A 2021 drill program on the initial resource at the
Escape Lake Deposit will commence immediately with two drills,
expanding the Escape Lake South high-grade zone area,
upgrading Inferred material and filling in the gaps along the
3 km long conduit where geological potential for resource
growth exists.
A third drill, commencing in Q2, 2021 will mobilize to the
Current Lake Deposit area and upgrade Inferred material in the
Beaver Lake Zone. Drilling will also
test certain geophysical anomalies identified in
last year's work in the Feeder Zone area underlain by the Escape
Lake Fault at the southern base of the Current Lake
intrusion. The target in this area is the source
of certain narrow, high grade massive
sulphide lenses, found injected further up in the Current
Lake conduit.
Social Engagement
Clean Air Metals and its wholly-owned subsidiary Panoramic PGMs
(Canada) Limited acknowledge
that the Escape Lake Property and the Current Lake Property, which
collectively make up the Thunder Bay North Project, are on the
traditional territories of the Fort William First Nation, Red
Rock Indian Band and Biinjitiwabik Zaaging
Anishinabek. The parties have entered into a Memorandum
of Agreement as Cooperating Participants and are committed to
ongoing updates and dialogue around the Thunder Bay North
Project.
Input Parameters for Resource Calculation
Mining Cutoff Grade
The cutoff value used for the mineral resource is US$77/tonne (CA$101/tonne) insitu contained
value, 1.58g/tonne Palladium Equivalent (PdEq) (US$77 / (US$1,516.82/31.10305)) or 2.65g/tonne Platinum
Equivalent (US$77 / (US$902.38/31.10305)). The cutoff value is
calculated based on estimations as follows: direct mining operating
cost, onsite milling operating cost, tailings management facility
operating cost, indirect operating cost, general and administration
(G&A) cost, onsite milling metal recoveries, offsite smelting
metal recoveries, and smelter metal payable percentages. A total
estimated operating cost of CA$66.91/tonne of mill feed is
comprised of;
- Direct mining operating cost for underground mining of
CA$35.88/tonne mill feed, consisting of the weighted average; 75%
longhole open stope mining CA$30.45/tonne mill feed and 25% drift
and fill mining CA$52.19/tonne mill feed,
- Onsite milling and tailings management facility operating cost
of CA$18.00/tonne mill feed,
- Total indirect operating cost and G&A cost of
CA$13.03/tonne mill feed.
Onsite estimated mill metal recoveries, offsite estimated
smelting metal recoveries and estimated smelter payable percentages
used for mineral resource cutoff grade calculations are summarized
in Table 7. For resource cutoff calculation purposes, a mining
recovery of 100.0% and 0.0% mining dilution were applied. The
applicable metal prices are summarized in Table 8.
Table 7: Contained Metals Parameters of
Mineral Resource Cutoff Grade Calculations
Parameter
|
Pd
|
Pt
|
Ag
|
Au
|
Cu
|
Ni
|
Co
|
Rh
|
Onsite Mill Metal
Recoveries
|
75.00%
|
75.00%
|
50.00%
|
50.00%
|
90.00%
|
90.00%
|
90.00%
|
75.00%
|
Offsite Smelting
Metal Recoveries
|
85.00%
|
85.00%
|
85.00%
|
85.00%
|
85.00%
|
90.00%
|
50.00%
|
85.00%
|
Smelter Payable
Percentages
|
98.00%
|
98.00%
|
85.00%
|
97.00%
|
100.00%
|
100.00%
|
100.00%
|
98.00%
|
Note: Values
taken from Panoramic Resources "AMEC Technical Report dated 6
October 2010".
|
Geological Domaining
Nordmin examined and modelled the mineralization within the
Current Lake and Escape Lake deposits for the purpose of grade
concentration and isolation of composites, while including
lithological, geochemical, and structural correlations between rock
types that are influencing the mineralization at each respective
deposit.
Domain wireframes were modelled for seven grade elements,
including combined Platinum ("Pt") and Palladium ("Pd"), Gold
("Au"), Silver ("Ag"), Copper ("Cu"), Nickel ("Ni"), Cobalt ("Co"),
and Rhodium ("Rh"). Each domain was built using geology,
mineralization, and grade bin for a combination of Background grade
("BG"), Low Grade ("LG"), Medium Grade ("MG"), and High Grade
("HG"). Background grades were isolated through applying the
overall conduit wireframe. The criteria include:
Current Lake Deposit
- Platinum and Palladium: Platinum and Palladium grades were
summed and the resulting total used to model with the following
criteria: BG Pt+Pt < 2 g/t, LG Pt+Pt 2 g/t to 6 g/t, MG Pt+Pd 6
g/t to 12 g/t, HG Pt+Pd > 12 g/t
- Gold: BG Au < 0.25 g/t, HG Au > 0.25 g/t
- Silver: BG Ag < 5 g/t, HG Ag > 5 g/t
- Copper: BG: < 1% Cu, LG 1% to 2% Cu, MG 2% to 4% Cu, HG >
4% Cu
- Nickel BG < 0.25% Ni, LG 0.25% to 0.5% Ni, MG 0.5% to 1% Ni,
HG > 1% Ni
- Cobalt: BG Co < 250 g/t, LG Co 250 g/t to 500 g/t, HG Co
> 500 g/t
- Rhodium: BG Rh < 0.25 g/t, LG Rh 0.25 g/t to 0.5 g/t, MG Rh
0.5 to 1.0 g/t, HG Rh > 1.0 g/t
Escape Lake Deposit
- Platinum and Palladium: Platinum and Palladium grades were
summed and the resulting total used to model with the following
criteria: BG Pt+Pt < 2 g/t, LG Pt+Pt 2 to 6 g/t, MG Pt+Pd 6 to
12 g/t, HG Pt+Pd > 12 g/t
- Gold: BG Au < 0.25 g/t, HG Au > 0.25 g/t
- Silver: BG Ag < 2.5 g/t, LG Ag 2.5 g/t to 5 g/t, HG Ag >
5 g/t
- Copper: BG: < 1% Cu, LG 1% to 2% Cu, HG > 2% Cu
- Nickel BG < 0.25% Ni, LG 0.25% to 0.5% Ni, MG 0.5% to 1% Ni,
HG > 1% Ni
- Cobalt: BG Co < 250 g/t, LG Co 250 g/t to 500 g/t, HG Co
> 500 g/t
- Rhodium: BG Rh < 0.25 g/t, LG Rh 0.25 g/t to 0.5 g/t, MG Rh
0.5 g/t to 1.0 g/t, HG Rh > 1.0 g/t
Wireframes were initially created on 10
m to 20 m plan sections and
adjusted on vertical section views to edit and smooth each
wireframe where required. When not cut off by drilling, the
wireframes terminate at the contact of the conduit or due to lack
of drilling, whichever was most appropriate. No wireframe
overlapping exists within a given domain, but all domains are
independent of each other.
The use of explicit modelling allows for mineralization in
context with the deposit geology and associated geochemistry to be
considered. It is Nordmin's opinion that the explicit modelling
approach minimizes risks compared to using implicit modelling for
each deposit.
Compositing
Compositing of samples is a technique used to give each sample a
relatively equal length to reduce the potential for bias due to
uneven sample lengths; it prevents the potential loss of sample
data and reduces the potential for grade bias due to the possible
creation of short and potentially high-grade composites that are
generally formed along the zone contacts when using a fixed
length.
The raw sample data was found to have a relatively narrow range
of sample lengths. Samples captured within all zones were
composited to 1.0 m regular intervals
based on the observed modal distribution of sample lengths, which
supports a 5.0 m x 5.0 m x 5.0 m block
model (with sub-blocking). An option to use a slightly variable
composite length was chosen to allow for backstitching shorter
composites that are located along the edges of the composited
interval. All composite samples were generated within each mineral
lens with no overlaps along boundaries. The composite samples were
validated statistically to ensure there was no loss of data or
change to the mean grade of each sample population.
Block Model Resource Estimation
A "soft boundary" was used for the application of composites for
all mineralized domains except for the background domains, as
follows:
- Background Grade: Selected composites include only background
domain composites.
- Low Grade: Selected composites included background and
low-grade domain composites.
- Medium Grade (where applicable): Selected composites included
medium and low-grade domain composites.
- High Grade (where applicable): Selected composites included
high grade and medium grade domain composites.
A series of upfront test modelling was completed to define an
estimation methodology to meet the following criteria:
- Representative of the deposit geology and structural
models.
- Accounts for the variability of grade, orientation, and
continuity of mineralization.
- Controls the smoothing (grade spreading) of grades and the
influence of outliers.
- Accounts for most of the mineralization.
- Is robust and repeatable within the mineral domains.
- Supports multiple domains.
Multiple test scenarios were evaluated to determine the optimum
processes and parameters to use to achieve the stated criteria.
Each scenario was based on Natural Neighbour (NN), Inverse Distance
Squared (ID2), Inverse Distance Cubed (ID3), and Ordinary Kriging
(OK) spatial interpolation and weighted averaging methods.
All test scenarios were evaluated based on global statistical
comparisons, visual comparisons of composite samples versus block
grades, and the assessment of overall smoothing. Based on results
of the testing, it was determined that the final resource
estimation methodology would constrain the mineralization by using
hard wireframe boundaries to control the spread of high to grade
and low to grade mineralization. OK was selected as the best
representative interpolation method.
Equivalency
Equivalency formulas were calculated and used for reporting
purposes. The derivation of the equivalency formulas is based
on accepted industry practices. All equivalencies are
reported as in-situ grades and are calculated using the trailing
average commodity price deck referenced in Table 8.
Platinum equivalency ("Pt Eq") and Palladium Equivalency ("Pd
Eq") was calculated for each deposit through the following
formulas, using components from platinum ("Pt"), palladium ("Pd"),
gold ("Au"), silver ("Ag"), copper ("Cu"), nickel ("Ni"), cobalt
("Co"), and rhodium ("Rh"):
Notes:
- All percentage grades referenced in the formulas for Cu and Ni
are numeral percentage rather than decimal percentages (i.e., 2% is
2.0, not 0.02).
- 0.06857 is used for troy ounce and pound conversion.
- 2204 is used for tonne and pound conversion.
- 10,000 is used to convert from numerical percentage to
grams.
Additional
- The Independent and Qualified Person responsible for the
Mineral Resource Estimate is Glen
Kuntz, P.Geo. of Nordmin Engineering Ltd., Thunder Bay, Ontario, and the effective date
of the estimate is January 18,
2021.
- CIM Definition Standards on Mineral Resources and Reserves were
used for the Thunder Bay North Project mineral resource
estimate.
- 3-year trailing average prices were used for all calculations
with the exception of cobalt which used a 2-year trailing average
price as itemized in Table 8.
- Resource excludes all material immediately below Current Lake,
above a minimum crown pillar thickness of 20m which is assumed to be not recoverable by
underground methods.
- Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability. The estimate of mineral resources
may be materially affected by environmental, permitting, legal,
marketing, or other relevant issues.
- Minor variations may occur during the addition of rounded
numbers.
- Calculations used metric units (meters (m), tonnes (t) and
grams/tonne (g/t).
Table 8: Commodity Prices Used in Resource
Calculation
Commodity
|
Units
|
Assumption
(USD$)
|
Palladium
|
per oz
|
$ 1,516.82
|
Platinum
|
per oz
|
$ 902.38
|
Silver
|
per oz
|
$ 17.35
|
Gold
|
per oz
|
$ 1,469.60
|
Copper
|
per lbs
|
$ 2.87
|
Nickel
|
per lbs
|
$ 6.15
|
Cobalt
|
per tonne
|
$
34,839.16
|
Rhodium
|
per oz
|
$ 4,910.67
|
Note: 3-year
trailing average except Cobalt is 2-year trailing
average.
|
Qualified Persons
The Mineral Resource estimate was independently prepared under
the supervision of Mr. Glen
Kuntz, P.Geo. (Ontario)
of Nordmin Engineering Ltd., a "Qualified Person" under National
Instrument 43-101 Standards of Disclosure for Mineral Projects.
Verification included a site visit to inspect drilling, logging,
density measurement procedures and sampling procedures, and a
review of the control sample results used to assess laboratory
assay quality. In addition, a random selection of the drill hole
database results was compared with original records.
About Clean Air Metals Inc.
Clean Air Metals' flagship asset is the Thunder Bay North
Project, a platinum, palladium, copper, nickel project located near
the City of Thunder Bay, Ontario
and the Lac des Iles Mine owned by Impala Platinum Holdings. The
Clean Air Metals project hosts the Current Lake Deposit and magma
conduit and the Company is actively exploring the Escape Lake
Deposit, a twin structure to the Current Lake Deposit. Executive
Chairman Jim Gallagher, P.Eng. and
CEO Abraham Drost, P.Geo. lead an
experienced team of geologists and engineers who are using the
Norilsk magma conduit stratigraphic and mineral deposit model to
guide ongoing exploration and development studies. As the former
CEO of North American Palladium Ltd. which owned the Lac des Iles
Mine prior to the sale to Impala Platinum in December, 2019,
Jim Gallagher and team are credited
with the mine turnaround and creation of significant value for
shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS
"Abraham Drost"
Abraham Drost, Chief Executive
Officer of Clean Air Metals Inc.
For further information, please contact:
Abraham Drost, Chief Executive
Officer of Clean Air Metals Inc.
Phone: 807-252-7800
Email: adrost@cleanairmetals.ca
Website: www.cleanairmetals.ca
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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