Clean Air Metals Inc (TSX-V:AIR, FRA:CKU, OTCQB:CLRMF) has unveiled its recently completed results from an ongoing drill program at its flagship asset, the Thunder Bay North project in Ontario.
The assays reconfirm the polymetallic nature of the deposit, with the company’s primary focus being Platinum (AIM:ZERO) Group Metals (PGM).
Hole CL21-004 from the Current Lake Deposit infill program was especially promising, the hole intersected 13 meters (m) grading at 2.9 grams per tonne (g/t) palladium equivalent (PdEq) and was composed of 0.96 g/t palladium, 1.03 g/t Platinum (AIM:ZERO), 0.30% copper and 0.25% nickel from 168m – 181m downhole.
READ: Clean Air Metals remobilizes one drill and crew to the Beaver Lake Zone area of Current Lake deposit
Additionally, Hole CL21-004 also returned 3m grading 4.9 g/t PdEq composed of 1.96g/t palladium, 2.21g/t platinum, 0.51% copper and 0.26% nickel from 158m – 161m downhole.
At the Escape Lake deposit portion of the property, Hole ELR21-070 intercepted 8m grading 3.3g/t palladium equivalent composed of 1.25 g/t palladium, 1.15/t platinum, 0.43% copper, 0.20% nickel from 318m-326m downhole.
According to Clean Air Metals, the Escape Lake Deposit has an overall indicated mineral resource of 505,369 ounces at 3.67g/t palladium equivalent in 4,286,220 tonnes and is geologically open along trend.
While the adjacent Current Lake Deposit has an Indicated mineral resource of 1,328,789 ounces (oz) palladium equivalent at an average grade of 3.44 g/t palladium equivalent in 11,999,177 tonnes.
"Initial assay results from the Current Lake deposit infill drilling (CL holes) are ongoing and will supplement the understanding of resource continuity and mine slope planning for the upcoming preliminary economic assessment (PEA). The company is looking forward to publication of a PEA in 4Q/21 solely on the Current Lake Deposit,” Abraham Drost, CEO of Clean Air Metals said in a statement.
“The PEA will be based on a ramp-access underground mine model constraining the existing mineral resource.”
The company CEO went on to outline some of the upcoming work for the Escape Lake portion of the property.
“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 Q1/22,” he said. “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."
Clean Air Metals has also enlisted Blue Coast Research of British Columbia to conduct Metallurgical optimization studies. The results of the studies and independent analysis of smelter recoveries and smelter payables are expected to input directly into the PEA mine model planned for publication in early Q4/2021.
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