Clean Air Metals Announces Drilling Program at Thunder Bay North
Press Release
Thunder Bay, ON, August 6, 2024 – Clean Air Metals Inc. (“Clean Air Metals” or the “Company”) (TSX.V: AIR; FRA: CKU; OTCQB: CLRMF) is pleased to announce an upcoming 1,600-metre drilling program at its Thunder Bay North Critical Minerals (“TBN”) project (the ‘Project’) (14.0 Mt Indicated resource 1.31g/t Pt, 1.37g/t Pd, 0.41% Cu, 0.25% Ni – NI 43-101 dated June 19, 2023 ). The program is comprised of up to ten short holes (100 to 185 metres in depth) that will target near-surface high-grade zones within the Current deposit to better define their lateral continuity and tonnage potential. Drilling is expected to start in early August.
Significance of High-Grade Mineralization in the TBN Deposits
The Company’s new technical leadership team has completed a detailed assessment of existing geological and geophysical data and resource models for the Project. The key findings of this review are:
- The known high-grade intersections at TBN have a regular periodicity that the Company believes are related to flow processes similar to those associated with alluvial gold deposits.
- Applying a tighter drill spacing within these high-grade areas could result in an increased tonnage and grade.
- High-grade ‘plums’ within both deposits are not easily detectable with available geophysical data, and there is an opportunity to improve data density and depth of penetration.
To better understand the importance of these high-grade areas in terms of their size and potential impact on the project economics, the Company plans to drill a series of tightly spaced holes into three shallow and readily accessible high-grade areas at the Current deposit, as shown in Figure 1. Each target has a single, existing high-grade intersection. These include:
- 5.02 g/t Pt, 4.84 g/t Pd, 1.18% Cu and 0.56% Ni over 51 m from 85 m in hole BL10-326
- 4.20 g/t Pt, 3.80 g/t Pd, 0.85% Cu and 0.39% Ni over 23.5 m from 123.5 m in hole BL10-328
- 4.87 g/t Pt, 4.44 g/t Pd,1.17% Cu and 0.56% Ni over 19 m from 155 m in hole BL09-155
Figure 1. Plan view of the targeted area for the drill program (red dashed line) within the Bridge Zone of the Current Deposit
Results from the new drilling will be used to develop both an exploration program designed to potentially discover new high-grade zones and a resource delineation program to potentially increase the resources contained in these high-grade areas. They will also help guide the location for a potential bulk sample(s) pending the submission and approval of an Advanced Exploration permit.
Clean Air Metals’ CEO Mike Garbutt commented “New insights provided by Vice President of Exploration Dr. Lionnel Djon and director Dr. David Peck has led to a refinement to the geological template for the TBN deposits. The upcoming drilling program is a critical step in the Company’s plan to significantly improve the TBN project economics by fully defining the highest value mineralization within the Current and Escape deposits.”
Other Activities
As referenced above, the Company is preparing an Advanced Exploration application for the project, representing the first stage in the Provincial mine permitting process. The Company has already applied (July 2022) to convert some of the TBN property claims into a mineral lease (approval pending). The Company has also contracted Sisprobe to complete a passive seismic survey designed to provide a much better definition of the mineralized basal contact and to potentially map out larger sulphide trap sites (i.e., new high-grade ‘plum’ targets) at this contact in the large and untested, down-plunge target area at the Escape deposit. The Company also continues to evaluate complementary copper- and platinum metal-rich assets in the province.
About Clean Air Metals
Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals (“TBN”) project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and next to established infrastructure, hosts two (2) deposits – the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 14.0 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge.
One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.
Social Engagement
Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area.
The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mike Garbutt”
Mike Garbutt, CEO of Clean Air Metals Inc.
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Visit www.cleanairmetals.ca for more information or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
mboiridy@cleanairmetals.ca
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