Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) has announced new assay results from the 2022 drill campaign for both the Escape and Current PGE-Cu-Ni (platinum group elements, copper, nickel) deposits at its Thunder Bay North Project in Ontario.
In a statement, Abraham Drost, CEO of Clean Air Metals, noted that a prefeasibility study continues under the supervision of COO Mike Garbutt and is expected to culminate in a technical report in May or June this year, adding that environmental baseline fieldwork, engineering studies and hydrogeological drilling test work continue in the meantime.
“The drilling assay results are in line with expectations for peer-leading mill head grade in the first 7 years of mining at Thunder Bay North. Considerable upside exploration potential for massive sulphides outside the PEA production area remains at the base of the Escape and Current magma conduits along the Escape Lake Fault. The company is presently expanding its Work Permit footprint to accommodate a drill program on these targets this winter," Drost said.
READ: Clean Air Metals files Q1 2022 report showing total assets of $45.35 million
New assay highlights from the Current deposit area include:
- Metallurgical bulk sample Hole CLM22-007 (HQ core) which intersected 19.0 medtres (m) grading 3.92 grams per ton (g/t) Platinum (Pt), 3.90 g/t Palladium (Pd), 0.98% Copper (Cu) and 0.56% Nickel (Ni) from 153.0m-172.0m downhole including 13.4m grading 5.06 g/t Platinum (Pt), 5.14 g/t Palladium (Pd), 0.98% Copper (Cu) and 0.56% Nickel (Ni) from 154.0-167.4m downhole, which supports the grade profile of the production area in Years 1-4 of the PEA (preliminary economic assessment) mine plan.
- Metallurgical bulk sample Hole CLM22-008 (HQ core) which intersected 37.8m grading 2.91 g/t Platinum (Pt), 2.80 g/t Palladium (Pd), 0.70% Copper (Cu) and 0.39% Nickel (Ni) from 107.0m-144.8m downhole including 19.2m grading 4.25 g/t Platinum (Pt), 4.14 g/t Palladium (Pd), 0.99% Copper (Cu) and 0.55% Nickel (Ni) from 119.8-139.0m downhole.
- Metallurgical bulk sample Hole CLM22-010 (HQ core) which intersected 22.6m grading 2.33 g/t Platinum (Pt), 2.17 g/t Palladium (Pd), 0.62% Copper (Cu) and 0.41% Nickel (Ni) from 332.0m-354.6m downhole.
Clean Air Metals reiterated that DRA AMERICAS INC successfully bid under a request for proposal for Pre-feasibility Metallurgical Testing and Process Plant Design for the Thunder Bay North Project.
The company also reaffirmed that it has selected and contracted SLR Consulting through a request for proposal process to provide independent validation of an updated Thunder Bay North Project resource estimate for the Pre-feasibility study.
The company previously announced a comprehensive mine plan and cashflow model for both the Escape Deposit and Current Deposit as part of a base case PEA for the Current and Escape deposits at the Thunder Bay North Project.
Clean Air Metals' flagship asset is the 100%-owned, high-grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario, and the Lac des Iles Mine owned by Impala Platinum.
Contact the author at jon.hopkins@proactiveinvestors.com