PR Newswire
THUNDER BAY, ON, June 28, 2022
THUNDER BAY, ON, June 28, 2022 /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 2022 drill campaign from both the Escape and Current PGE-Cu-Ni Deposits at the Company's Thunder Bay North Project near Thunder Bay, Ontario, Canada (the "Project").
New assay highlights from the Escape South deposit area includes (Table 1):
Pursuant to the PEA mine plan reported January 12, 2022, initial production on the Escape Deposit commences at Year 4.5 of the Life of Mine on the Escape South HGZ on 2,323,948 tonnes grading 9.99g/t PtEq insitu. The Escape Deposit has now undergone an additional 55,651m of expansion drilling in 2021 and 2022 not yet included in the project mineral resource. This additional drilling has established continuity between the Escape South HGZ and the Escape North Zone and may add materially to the total Thunder Bay North Project Indicated insitu mineral resource (effective November 1, 2021) including the Current Deposit, averaging 8.12 g/t PtEq in 14,553,324 million tonnes insitu (reported December 1, 2021).
New assay highlights from the Current deposit area includes (Table 2):
Pursuant to the PEA mine plan reported January 12, 2022, the first 3.7 years of mining at Current Deposit on 4,835,410 tonnes of material insitu averages 4.49g/t 4E PGE or 10.04g/t PtEq insitu at Lower Current and Bridge Zones, immediately up plunge from the Beaver Lake Zone.
Mineral resource endowment and platinum-equivalents are quoted pursuant to the Technical Report and Mineral Resource Estimate for the Thunder Bay North Project, Thunder Bay, Ontario, with an effective date of January 20, 2021 (the "Technical Report"). The Technical Report was posted to SEDAR on March 4, 2021 and prepared by Nordmin Engineering Ltd.- QP Glen Kuntz, P.Geo. Ontario. Nordmin as QP utilized 2-year trailing average metal price assumptions[1] for the updated mineral resource as a basis for the Preliminary Economic Assessment (the "PEA") reported on December 1, 2021 and filed January 12, 2022.
The Company again states that DRA AMERICAS INC ("DRA") is the successful bid under a request for proposal (RFP) for Pre-feasibility Metallurgical Testing and Process Plant Design for the Thunder Bay North Project. The DRA team has reviewed the existing and historical metallurgical testing results and marketing studies culminating in the Preliminary Economic Assessment (PEA) by Nordmin Engineering, the technical report of which was filed on SEDAR on January 12, 2022. DRA will leverage existing knowledge on standard crush, grind, flotation process design and smelter payabilities into the next phase of testing and metallurgical optimization, including amenability to hydrometallurgical recoveries of the main platinum, palladium, copper, nickel commodity suite with rhodium, cobalt, gold and silver byproducts.
The Company announced a comprehensive mine plan and cashflow model for both the Escape Deposit and Current Deposit as part of a PEA for the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project on December 1, 2021. The related Technical Report was filed on SEDAR on January 12, 2022 https://cleanairmetals.ca/site/assets/files/5750/21015-01-pfs-0000_ni_43_101_pea_12jan2022.pdf
Table 1: New Insitu Assay Results Update – Escape South Sail-Zone Extension (Figure 1)
Hole ID | Company | From, | To, m | Length, | Pt+Pd | Cu+Ni | Pt | Pd | Cu | Ni |
ELR22-135 | AIR | 291.8 | 296 | 4.2 | 4.23 | 0.34 | 1.95 | 2.28 | 0.21 | 0.13 |
ELR22-135 | AIR | 331 | 337 | 6.0 | 1.27 | 0.47 | 0.58 | 0.69 | 0.24 | 0.23 |
ELR22-135 | AIR | 349 | 351 | 2.0 | 1.09 | 0.38 | 0.50 | 0.59 | 0.19 | 0.20 |
ELR22-135 | AIR | 355 | 377 | 22.0 | 2.43 | 0.83 | 1.09 | 1.34 | 0.50 | 0.33 |
ELR22-135 | AIR | 393.2 | 397 | 3.8 | 2.28 | 0.66 | 1.05 | 1.23 | 0.44 | 0.21 |
ELR22-139 | AIR | 315 | 317 | 2.0 | 1.09 | 0.41 | 0.47 | 0.62 | 0.22 | 0.18 |
ELR22-139 | AIR | 417 | 422 | 5.0 | 2.49 | 0.72 | 1.13 | 1.36 | 0.48 | 0.24 |
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