Clean Air drills 13m of 2.9 g/t PdEq at Thunder Bay

Aug 12, 2021

2021-08-12 06:58 ET – News Release

Mr. Abraham Drost reports

CLEAN AIR METALS REPORTS NEW DRILL RESULTS FROM THUNDER BAY NORTH PROJECT

Clean Air Metals Inc. has released new assay results from the drilling campaign currently under way at the company’s Thunder Bay North project. Highlights include:

Hole CL21-004 from the Current Lake deposit infill program, which intersected 13.0 metres grading 2.9 grams per tonne palladium equivalent, composed of 0.96 g/t palladium (Pd), 1.03 g/t platinum (Pt), 0.30 per cent copper (Cu) and 0.25 per cent nickel (Ni), from 168.0 to 181.0 m downhole and 3.0 m grading 4.9 g/t PdEq, composed of 1.96 g/t palladium (Pd), 2.21 g/t platinum (Pt), 0.51 per cent copper (Cu) and 0.26 per cent nickel (Ni), from 158.0 to 161.0 m downhole.
Hole ELR21-070 from the Escape Lake deposit exploration program, which intersected 8.0 m grading 3.3 g/t PdEq, composed of 1.25 g/t Palladium (Pd), 1.15 g/t platinum (Pt), 0.43 per cent copper (Cu) and 0.20 per cent nickel (Ni), from 318.0 m to 326.0 m downhole.

The Escape Lake deposit has an overall indicated mineral resource of 505,369 ounces at 3.67 g/t PdEq in 4,286,220 tonnes and is geologically open along trend. The adjacent Current Lake deposit has an indicated mineral resource of 1,328,789 ounces PdEq at an average grade of 3.44 g/t PdEq in 11,999,177 tonnes.

Mineral resource endowment and palladium equivalents are quoted pursuant to the National Instrument 43-101 technical report and mineral resource estimate for the Thunder Bay North project, Thunder Bay, Ont., effective date Jan. 20, 2021, posted to SEDAR March 4, 2021. Prepared by Nordmin Engineering Ltd. qualified person Glen Kuntz, PGeo, Ontario.

Update on metallurgy and PEA (preliminary economic assessment)

Metallurgical optimization studies continue with Blue Coast Research of British Columbia. The results of the studies and independent analysis of smelter recoveries and smelter payables are expected to input directly into a preliminary economic assessment (PEA) mine model planned for publication in early fourth quarter of 2021.

Abraham Drost, chief executive officer of Clean Air Metals, stated: “Initial assay results from the Current Lake deposit infill drilling (CL holes) are ongoing and will supplement the understanding of resource continuity and mine stope planning for the upcoming preliminary economic assessment (PEA). The company is looking forward to publication of a PEA in Q4 [20]21 solely on the Current Lake deposit. The PEA will be based on a ramp-access underground mine model constraining the existing mineral resource.

“The present round of assay results is also being added to the Escape Lake deposit database (ELR holes), which will result in a revised resource estimate in Q1 [20]22. The future potential to add scale to the Thunder Bay North project with feed from the Escape Lake deposit is potentially accretive to overall project economics.”

   
Hole ID         From        To    Length     Pt-Pd     Cu-Ni        Pt        Pd        Cu        Ni      PdEq
                 (m)       (m)       (m)     (g/t)       (%)     (g/t)     (g/t)       (%)       (%)     (g/t)

ELR21-068     170.70    171.94      1.24      2.52      0.26      1.19      1.33      0.17      0.10      2.68
ELR21-069     171.17    173.05      1.88      1.61      0.13      0.78      0.84      0.07      0.06      1.66
ELR21-069     255.00    259.00      4.00      1.31      0.43      0.59      0.72      0.27      0.16      2.03
ELR21-070     318.00    326.00      8.00      2.39      0.63      1.15      1.25      0.43      0.20      3.25
ELR21-071     169.70    171.65      1.95      1.74      0.16      0.84      0.90      0.09      0.06      1.82
ELR21-074     181.40    182.80      1.40      1.54      0.18      0.77      0.77      0.12      0.06      1.67
CL21-003      153.00    156.00      3.00      1.68      0.39      0.88      0.80      0.20      0.19      2.26
CL21-003      162.00    163.87      1.87      1.26      0.39      0.67      0.59      0.20      0.18      1.91
CL21-004      158.00    161.00      3.00      4.16      0.78      2.21      1.96      0.51      0.26      4.94
CL21-004      168.00    181.00     13.00      1.99      0.55      1.03      0.96      0.30      0.25      2.86

Note                                                                                  
(1) All intercepts are estimated to be greater than 95 per cent of true width based on drill hole inclination.
(2) Mineralized intervals calculated at one part per million Pt-Pd cut-off.

COVID-19 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 set-up 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 have been deemed an essential service in Ontario.

Qualified person

Allan MacTavish, PGeo, a qualified person under National Instrument 43-101 and vice-president and project manager of the company, has reviewed and approved all technical information in this press release.

Social engagement

Clean Air Metals 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 co-operating participants in a memorandum of agreement dated Jan. 9, 2021, and the issue of warrants, reported Jan. 28, 2021.

The company is also in discussions with Red Sky Metis Independent Nation and the Metis Nation of Ontario. 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’s flagship asset is the 100-per-cent-owned, high-grade Thunder Bay North project, a platinum, palladium, copper and nickel project located near the city of Thunder Bay, Ont., 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 chief executive officer Abraham Drost lead an experienced team of geologists and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide continuing 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, Mr. Gallagher and his team are credited with the mine turnaround and creation of significant value for shareholders.

We seek Safe Harbor.

https://www.cleanairmetals.ca/