Clean Air Metals Inc (CVE:AIR) (OTCQB:CLRMF) (FRA:CKU) has announced new assay results from its drilling campaign at the Escape Lake Deposit currently underway with two drills at the company's Thunder Bay North project in Ontario.
The specific highlights include:
- Hole ELR20-041 intersected 0.3 meters (m) of 8.17 grams per ton (g/t) palladium (Pd), 8.34 g/t platinum, 7.15% copper and 0.30% nickel from 341.5m – 341.8m downhole located in the Escape Lake Deposit area 350 m north of the centroid of the Escape South High-Grade Zone;
- Hole ELR21-037 intersected 9 m of 1.47 g/t palladium, 1.28 g/t platinum, 0.61% copper and 0.27% nickel from 373m – 382m downhole located between the Escape South High-Grade Zone and the Steepledge North Zone; and
- Hole ELR21-043 intersected 9 m of 1.37 g/t palladium, 1.14 g/t platinum, 0.52% copper and 0.36% nickel from 317m – 326.1m downhole located between the Escape South High-Grade Zone and the Steepledge North Zone.
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A total of 30,000m of systematic delineation drilling connecting the Escape South and Steepledge South resource areas is planned for the Escape Lake Deposit in 2021, the company said.
The recent discovery of a high-grade massive sulphide lens in the Escape Lake Deposit and similar material previously discovered in the Current Lake Deposit are considered to be transported material and exploration vectors to a potential larger source area, Clean Air Metals noted.
A third drill and local crew has mobilized to the project site and commenced drilling on the first of six high priority massive sulphide targets on the Thunder Bay North Property. The targets are high conductivity geophysical features identified in basal structural and stratigraphic locations with high potential to host massive sulphide mineralization, the company said, and a total of 15,000m in 25-30 holes has now been allocated to testing of the initial six massive sulphide target areas.
Clean Air Metals also said that the fertility of the Escape Lake magma conduit deposit is well illustrated by the recent mineral resource update, which was reported back in January.
The Escape Lake Deposit has an overall Indicated mineral resource of 505,369 ounces (oz) at 3.67 g/t palladium equivalent in 4,286,220 tonnes and is geologically open along trend, while the Current Lake Deposit has an Indicated mineral resource of 1,328,789 oz palladium equivalent at an average grade of 3.44 g/t palladium equivalent in just under 12 million tonnes.
“The company confirms the high-level similarities of the magma conduit chonolith system and structural and stratigraphic controls on mineralization at Thunder Bay North with the Talnakh complex, one of the world's foremost Nickel-Copper-PGM mining camps,” CEO Abraham Drost said in a statement.
“Based on the recent resource update and discovery of massive sulphides in the Escape Lake Deposit with favorable metal ratios and the recent completion of a structural analysis and MT geophysical surveys, we are committing to a substantial ramp-up of our drilling exploration efforts on multiple bullseye ultra-low resistivity targets at the base of both the Escape Lake and Current Lake magma conduit deposit systems."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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