Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) has announced new assay results from the 2022 drill campaign from both the Escape and Current PGE-Cu-Ni deposits at the company's Thunder Bay North Project near Thunder Bay in Ontario, Canada.
“The Escape and Current deposits continue to perform," Abraham Drost, CEO of Clean Air Metals said in a statement. "Potential peer leading mining head grades and proximity to infrastructure near the City of Thunder Bay and support of the affected First Nation and Metis communities for this sustainable green energy metal mix position the project well.”
“These factors combined with DRA's work targeted on improving ore payabilities are critical to the success of the project," he added, referring to DRA AMERICAS Inc, which successfully bid for pre-feasibility metallurgical testing and process plant design for the Thunder Bay North Project.
READ: Clean Air Metals files its annual report for year to end January 2022
New assay highlights from the Escape South deposit area include:
- Infill Hole ELR22-140, which intersected 70.5 metres (m) grading 1.18g/t Platinum (Pt), 1.52g/t Palladium (Pd), 0.54% Copper (Cu) and 0.31% Nickel (Ni) from 341.0m-411.5m downhole, including 14.0m grading 2.65g/t Pt, 3.46 g/t Pd, 1.28% Cu and 0.72% Ni from 392.0-406.0m downhole and increases the known dimensions of the Escape South High Grade Zone (HGZ).
- Infill Hole ELR22-143, which intersected 60.0m grading 2.05g/t Platinum (Pt), 2.74g/t Palladium (Pd), 1.01% Copper (Cu) and 0.51% Nickel (Ni) from 373.0m-433.0m downhole, including 20.7m grading 3.90 g/t Platinum (Pt), 5.36g/t Palladium (Pd), 1.97% Copper (Cu) and 0.97% Nickel (Ni) from 402.0-422.7.0m downhole (Figure 1) and increases the known dimensions of the Escape South HGZ.
Under the Preliminary Economic Assessment (PEA) mine plan reported on January 12, 2022, initial production on the Escape Deposit commences at year 4.5 of the life of mine on the Escape South HGZ on 2,323,948 tonnes grading 9.99g/t PtEq insitu. The Escape Deposit has now undergone an additional 55,651m of expansion drilling in 2021 and 2022, which has yet to be included in the project mineral resource. This additional drilling has established continuity between the Escape South HGZ and the Escape North Zone and may add materially to the total Thunder Bay North Project Indicated insitu mineral resource (effective November 1, 2021), including the Current Deposit, averaging 8.12 g/t PtEq in 14,553,324 million tonnes insitu (reported December 1, 2021).
New assay highlights from the Current deposit area include:
- Infill Hole CL22-043, which intersected 25.0m grading 2.01g/t Platinum (Pt), 2.57g/t Palladium (Pd), 0.94% Copper (Cu) and 0.52% Nickel (Ni) from 325.7m-373.0m downhole, including 8.0m grading 3.08 g/t Platinum (Pt), 2.97g/t Palladium (Pd), 0.63% Copper (Cu) and 0.39% Nickel (Ni) from 147.0-155.0m downhole (Figure 2) and which improves the grade profile of the Beaver Lake Zone down plunge from the main PEA production areas
Under the PEA mine plan reported on January 12, 2022, the first 3.7 years of mining at Current Deposit on 4,835,410 tonnes of material insitu averages 4.49g/t 4E PGE or 10.04g/t PtEq insitu at Lower Current and Bridge Zones, immediately up plunge from the Beaver Lake Zone.
The company and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock Indian Band and Biinjitiwabik Zaaging Anishinabek. The parties together are the cooperating participants in a Memorandum of Agreement and Exploration Agreement.
The 100% owned, high-grade Thunder Bay North Project is 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 that host the Current and Escape deposits, forming the basis for the robust preliminary economic assessment.
Contact the author at jon.hopkins@proactiveinvestors.com