Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) said that Jim Gallagher has been appointed as the permanent and full-time CEO of the company, effective immediately.
Gallagher previously served as the executive chair of the company since its inception in 2020 and assumed the role of interim CEO on June 2, 2023. He is a mining engineer and experienced executive who played a key role in the operational and financial turnaround of North American Palladium, leading to its sale to Impala Platinum in 2019.
In a statement commenting on the news, Gallagher said: "I am pleased to fully take the helm as the company moves forward with the next phase of its development. The priorities are clear, advance the technical studies for the potential development of the project based on the recently published resource estimate, advance the down plunge exploration program, continue with the appropriate environmental and permitting activities and continue to foster true business relationships with the indigenous communities whose lands, and treaty rights are impacted by our project."
He added: "Based on our current plans, the company is well financed into late 2024. A key focus will be in attracting strategic investors who potentially can partner with the company for the long-term."
In addition to Gallagher's appointment, Dean Chambers has been named the non-executive chair of the Clean Air Metals board, replacing Gallagher. Chambers, a professional engineer and financial executive, has been a director of Clean Air Metals since 2020 and serves as the chair of the Audit Committee and the Governance, Nominations, and Compensation Committee.
Clean Air Metals also provided an update on its Thunder Bay North Critical Minerals project, stating that the recently published resource estimate revealed an indicated resource of 14 million tonnes, containing significant amounts of platinum, palladium, copper, and nickel. The company is working on validating metallurgical recoveries and exploring potential smelter offtake terms, as well as evaluating mining options and site infrastructure.
Regarding exploration, Clean Air Metals conducted extensive infill drilling in 2022 and is now planning to investigate the down plunge potential of its deposits, which are open at depth.
Clean Air Metals' primary asset is the Thunder Bay North Critical Minerals Project, located near Thunder Bay, Ontario. The project holds significant reserves of platinum, palladium, copper, and nickel and is strategically positioned near the Lac des Iles Mine owned by Impala Platinum.
Contact the author at jon.hopkins@proactiveinvestors.com