THUNDER BAY, ON, Sept. 7, 2021 /CNW/ - 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) and 0.31% 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) and 0.28% 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) and 0.20% 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,
m
|
To,
m
|
Length,
m
|
Pt+Pd
(g/t)
|
Cu+Ni
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
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 >95% of true width based on drill hole
inclination
|
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 11% to 12% 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 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 100% owned, high grade
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. 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 and
CEO Abraham Drost 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.
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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SOURCE Clean Air Metals Inc.