Clean Air Metals Inc. (TSX:AIR.V)

THUNDER BAY, ON, CANADA, January 5, 2022 /EINPresswire.com/ -- Clean Air Metals Inc. (TSXV: AIR; FRA: CKU; OTCQB: CLRMF) is pleased to announce new assay results from the 2021 drill campaign from the Escape and Current PGE-Cu-Ni Deposits at the Company’s Thunder Bay North Project near Thunder Bay, Ontario, Canada (the “Project”). Drilling operations are set to resume on January 6, 2022.

New assays from the Escape South High Grade Zone includes (Table 1):

• Hole ELR21-083A which intersected 46.0m grading 19.6 g/t PtEq1 composed of 3.03g/t Platinum (Pt), 3.94g/t Palladium (Pd), 1.33% Copper (Cu) and 0.51% Nickel (Ni) from 399.0-445.0m downhole including 31.0m grading 25.0 g/t PtEq composed of 3.90 g/t Platinum (Pt), 5.10g/t Palladium (Pd), 1.70% Copper (Cu) and 0.63% Nickel (Ni) from 405.0-436.0m downhole (Figure 1).

The Escape Deposit underwent 37,000m of expansion drilling in 2021, which is expected to add materially to the maiden Indicated resource of 849,481 ounces PtEq (6.16 g/t PtEq in 4.28 million tonnes) reported January 20, 2021. The Current Deposit 2.5km to the east (Figure 2) has a well-defined Indicated mineral resource of 2,233,575 PtEq ounces (5.79 g/t PtEq in 11.99 million tonnes).

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 March 4, 2021 and prepared by Nordmin Engineering Ltd.- QP Glen Kuntz, P.Geo. Ontario. Platinum-equivalent calculations in Table 1 are affected by the updated CRU 2-year trailing average metal price assumptions utilized for the new Preliminary Economic Assessment reported on December 1, 2021.

Preliminary Economic Assessment (PEA)

The Company announced a robust mine plan and cashflow model 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 is expected to be filed on SEDAR by January 14, 2022.

Abraham Drost, CEO of Clean Air Metals stated that “step-out drilling on the margins of the Escape South High Grade Zone (HGZ) continues to deliver impressive assay results. Under the results of the recent PEA press release, the Escape South High Grade Zone (HGZ) (>5g/t Pt+Pd) is identified as a high value potential mining area at the base of the Escape Deposit in years 5 and 6 of the PEA mine plan, pursuant to the recently delivered PEA press release (December 1, 2021).

There is a total of 37,000m of previously reported drilling results from the Escape Deposit in 2021 which not yet applied to the mineral resource for the Thunder Bay North Project. Assay results to date, along with the 2000m of core in the lab still awaiting assay, suggest good continuity of mineralization between sections along the 900m trend of mineralization between the Escape South High Grade Zone (HGZ) (>5g/t Pt+Pd) and Steepledge South Zone (Figure 1).

The high-grade Lower Current and Bridge Zones of the upper Current Deposit achieved a 90% conversion rate from Indicated to potentially minable mineral resource for Years 1-4 within the recently disclosed PEA mine plan, as defined by a mining shape optimizer (MSO) algorithm. An additional 10,000m of infill drilling in the lower Current Deposit is planned to improve drill density to support application of the MSO algorithm along trend (Figure 2), in the attempt to add additional mineable material to the PEA.

Up to 16,000m of drilling is also planned to commence in mid-January 2022 on frozen muskeg to follow up on certain discrete geophysical anomalies. These may represent the occurrence of low resistivity, high conductivity massive sulphide material at the base of the Escape and Current deposits within the Escape Lake Fault Zone corridor, consistent with the Norilsk mineral deposit model used by the Company in Thunder Bay North magma conduit system.”
Qualified Person
Please see the links below for Figures 1 and 2.

Figure 1: 2021 Drill Hole Intercepts in the Escape Deposit Area

Figure 2: 2021 Drill Hole Intercepts in the Current Deposit Area

To view the Company's full press release please visit https://cleanairmetals.ca/news-media/news-releases/

Dr. Geoff Heggie, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Exploration Manager for the Company, has reviewed and approved all technical information in this press release.

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 Thunder Bay North Project hosts the twin magma conduit bodies which host Current and Escape deposits forming the basis for a positive preliminary economic assessment around a ramp access underground mine reported December 1, 2021. 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 at Thunder Bay North. 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.

Abraham Drost
Clean Air Metals Inc.
+16047195614 ext.
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