Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) has announced results from the 2022 drill campaign at the Escape platinum group element, copper and nickel deposit of its Thunder Bay North project in Ontario.
Assay highlights include Hole ELR22-137, which intersected 39 meters grading 1.17 grams per ton (g/t) platinum, 1.47 g/t palladium, 0.49% copper and 0.27% nickel between 361 meters (m) and 400m downhole.
Hole ELR22-139 meanwhile intersected 16m grading 1.83 g/t platinum, 2.38 g/t palladium, 0.88% copper and 0.51% nickel between 383m and 399m, including 6m of 2.63 g/t platinum, 3.48 g/t palladium, 1.28% copper and 0.75% nickel from 385m to 391m.
Hole ELR22-140 intersected 25m grading 2.01 g/t platinum, 2.57 g/t palladium, 0.94% copper and 0.52% nickel from 325.7m to 373m downhole.
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The Escape Deposit underwent an additional 37,000m of expansion drilling in 2021 and over 17,000m in 2022, the company said, confirming continuity between the Escape South High Grade Zone and the Escape North Zone which may materially add to the total Thunder Bay North Project Indicated in-situ mineral resource.
“Recent infill drilling on the margins and extension of the Escape South High Grade Zone continues to deliver impressive assay results,” Clean Air Metals CEO Abraham Drost said in a statement.
“An approximate total of 54,000m of previously reported additional drilling results from the Escape Deposit in 2021 and additional infill drilling on the PEA mine plan in 2022 will form part of an updated mineral resource expected for the Thunder Bay North Project in Q4/2022 to support pre-feasibility level mine design,” he added.
Exciting time for Thunder Bay
Clean Air Metals also announced that it has paid Panoramic Resources Limited the second deferred consideration installment payment of C$1.5 million from the sale of the Thunder Bay North PGM Project, which was closed during the company’s 2020 fiscal year. The final deferred consideration payment of C$1.5 million is due by May 13, 2023.
The company also said DRA Americas Inc was the successful bidder under its request for proposal for pre-feasibility metallurgical testing and process plant design for the Thunder Bay North Project.
The appointment of DRA Americas marks the onset of pre-feasibility studies at the Thunder Bay North Project, Drost said. "This is an exciting moment in the life of the project which could see the publication of a full pre-feasibility study of ramp-access underground mining at the Current and Escape deposits by Q2 of 2023. Ongoing exploration drilling for massive sulfides and infill drilling to improve mine design will proceed apace with regular updates through 2022.”
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