RCS - Clean Air Metals, In - Clean Air Metals Inc. Announces Latest Results
04/03/2025 15:15
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RNS Number : 1961Z Clean Air Metals, Inc. 04 March 2025
Clean Air Metals Intersects 41.0m Grading 13.2 g/t Pt.eq at the Current
Project
THUNDER BAY, ON / ACCESS Newswire (https://www.accessnewswire.com/) / March
4, 2025 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company")
(TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce the latest results
from its ongoing winter drilling program at its 100%-owned Thunder Bay North
Critical Minerals Project ("TBN"). The second set of assay results has
confirmed that the near-surface, high-grade mineralization at the Current
deposit is more extensive and significant than previously anticipated.
Notably, one hole intersected 41.0 meters grading 13.2 g/t Pt.eq including
10.0 meters with 1.57% Cu and 22.39 g/t Pt.eq. The newly modeled shape of this
high-grade area strongly resembles the "Ballroom" structures associated with
the JM Reef in the Stillwater Complex in Montana. The high-grade zone
intersected in hole CL25-005 and in several adjacent high-grade areas remains
open laterally and at depth, significantly enhancing the exploration potential
at the Current deposit.Assay results for the remaining seven holes are pending
and will be released once received.
Assay highlights:
· 41.0 m of 4.52 g/t Pt, 4.29 g/t Pd, 0.97% Cu and 0.52% Ni(13.20
g/t Pt.eq(1); 4.42% Cu.eq(2)) from 110 m downhole in Hole CL25-005, including
· 5.75 g/t Pt, 5.37 g/t Pd, 1.18% Cu and 0.61% Ni (16.42 g/t
Pt.eq(1); 5.50% Cu.eq(2)) over 28.0m from 121.0 m, and
· 7.87 g/t Pt, 7.34 g/t Pd, 1.57% Cu and 0.90% Ni (22.39 g/t
Pt.eq(1) ; 7.50% Cu.eq(2)) over 10.0 m from 138.0 m
· 12.08 g/t Pt, 10.87 g/t Pd, 2.38% Cu and 1.05% Ni (33.30 g/t
Pt.eq(1) ; 11.16% Cu.eq(2)) over 2.0 m from 146.0 m
Notes
1. Platinum equivalent are calculated as follows: Pt.eq = (Pt grade/31.1035
x $976 + Pd grade x 31.1035 x 86.2% x $966 + Cu grade x 2204 x 95.9% x $4.25 +
Ni grade x 2204 x 57% x 6.98 + Au grade/31.1035 x 85% x $2,939 + Ag
grade/31.1035 x 65.2% x $32.89) / $976 x 31.1035
2. Copper equivalents are calculated as follows: Cu.eq= (Cu grade x 2204 x
$4.25 + Pt grade x 31.1035 x 80.6% x $976 +Pd grade x 31.0135 x 86.2% x $966 +
Ni grade x 2204 x 57% x $6.98 + Au grade/31.1035 x 85% x $2,9392 + Ag
grade/31.1035 x 65.2% x $32.89) / $4.25 / 2204
Equivalents are based on the following recoveries Pt 80.6%, Pd 86.2%, Cu 95.9%
Ni 57%, Au 85%, Ag 65.2%; and metal prices from February 20, 2025, US Spot; Pt
$976, Pd $966, Cu $4.25, Ni $6.98, Au $2939, Ag $32.89
Mike Garbutt, CEO of Clean Air Metals, remarked, "These latest results have
validated our belief that the Current deposit hosts more near-surface
high-grade mineralization than previously estimated. The impressive grade and
significant thickness encountered during the recent drilling programs provide
additional support for establishing a more robust, high-grade production
model. These results have also highlighted the critical importance of
leveraging downhole geophysics to locate the highest-value mineralization
targets at Current and Escape as we continue to advance the Thunder Bay North
Project."
Table 1. Assay results from reported holes
Hole ID From (m) To Length Pt (g/t) Pd (g/t) Cu (%) Ni (%) Pt+Pd (g/t) Cu+Ni (%) Pteq(1) Cueq(2)
(m) (m) (g/t) (%)
CL25-004 117 136 19.0 1.11 1.00 0.25 0.21 2.11 0.46 3.51 1.17
Incl 128 134 6.0 2.32 2.06 0.54 0.31 4.38 0.85 7.00 2.35
Incl 128 132 4.0 2.73 2.43 0.61 0.34 5.16 0.95 8.13 2.72
CL25-005 110.0 151.0 41.0 4.52 4.29 0.97 0.52 8.81 1.49 13.20 4.42
incl. 121.0 149.0 28.0 5.75 5.37 1.18 0.61 11.12 1.79 16.42 5.50
incl. 138.0 148.0 10.0 7.87 7.34 1.57 0.90 15.20 2.47 22.39 7.50
Incl. 146.0 148.0 2.0 12.08 10.87 2.38 1.05 22.95 3.42 33.30 11.16
CL25-006 125.0 140.5 15.5 2.72 2.48 0.65 0.35 5.20 0.99 8.26 2.77
Incl 126.0 135.5 9.5 2.95 2.70 0.68 0.35 5.65 1.03 8.80 2.95
Incl 130.0 135.5 5.5 3.95 3.68 0.95 0.47 7.63 1.42 11.80 3.85
The Winter 2025 drilling program is strategically designed to increase the
size, number, and grade of near-surface high-grade areas at the Current
deposit, building on the strong results from the Summer 2024 program. The
latest findings, in conjunction with earlier data, further validate the
extension of mineralized zones beyond the scope of the most recent resource
model (NI 43-101 technical report on the Thunder Bay North Project, Ontario,
Canada, SLR Consulting Canada Ltd, June 19, 2023).
Unlike previous drilling, this hole intersected a high-grade zone carved into
the footwall of the deposit, indicating a more expansive distribution of
mineralization than is presently modeled. This result significantly alters the
interpretation of the Current deposit, as it suggests that areas previously
considered outside the core mineralized body may also host high-grade
mineralization much like the irregular, high-concentration zones seen in the
"ballrooms" below the JM Reef of the Stillwater Complex in Montana.
This discovery is pivotal for resource estimation, as it changes the
parameters that will be used to estimate the sulfide-rich, high-grade zones.
The new understanding of mineralization extending into the footwall and beyond
the limits of previous models calls for a reassessment of the resource
potential, particularly in terms of accurately capturing the extent of these
higher-grade zones.
Furthermore, the potential for additional high-grade subzones in the region is
significant. With continued drilling and an increased density of borehole
electromagnetic (BHEM) surveys, we expect to identify new areas where
mineralization could mirror the high-grade characteristics observed in
CL25-005. Increasing drill density and utilizing BHEM to guide future drill
targets will be essential to fully unlocking the high-grade potential of the
Current and Escape deposits and identifying similar subzones that may have
been missed by earlier exploration.
Figure 1. Plan view map showing drill hole locations for the ongoing 13-hole
program at the Current deposit.
Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented, "The
extension of high-grade mineralization into the footwall in hole CL25-005,
combined with the fact that it remains open to the southwest, highlight the
clear opportunity to increase the percentage of high-grade resource at
Current. Drawing on the ballroom analogy, we will continue to target thick and
high-grade mineralization in and below the existing mineralized shell. The use
of BHEM surveys will be a critical tool in guiding our next phase of drilling,
allowing us to identify new conductive targets and better define the full
extent of the high-grade areas."
Figure 2. 3D showing drill intersects and the location of the mineralized
"Ballroom structure" within the ultramafic conduit in the Lower Current Zone.
Table 2. Hole Coordinates
Hole ID Easting- NAD83_16 (m) Northing NAD83_16 Elevation (m) Azimuth Dip (deg) Hole length (m)
(m) (deg)
CL25-004 357670 5402604 495 34.84 -84.59 165
CL25-005 357670 5402604 495 194.93 -84.43 165
CL25-006 357682 5402598 495 42.31 -84.05 165
Upcoming Investor Event
Clean Air Metals invites shareholders and interested parties to meet with
Management and the Technical team at the upcoming PDAC convention
(https://pr.report/7wil) Core Shack (#3107B) on March 4 and 5, 2025 at
the Metro Toronto Convention Centre, Toronto.
Figure 3. Cross section showing along hole CL25-005. High grade
mineralization remains open to the southwest and likely beyond the current
limits of the Current conduit.
Qualified Person
Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument
43-101 and Vice President of Exploration for the Company, has reviewed and
approved all technical information in this press release.
Quality Assurance / Quality Control
Clean Air Metals uses ALS Global ("ALS"), a well-established and recognized
mineral assay and geochemical analytical services company. The Thunder Bay
laboratory holds ISO-9000 accreditation; the Vancouver facility holds
ISO-17025 registration.
All NQ-sized drill cores are cut with a diamond-tipped saw blade, and half are
submitted to ALS for sample preparation and analysis. Sample preparation is
completed at the ALS sample preparation facility in Thunder Bay, ON, and
analysis is completed at the primary ALS assay laboratory in Vancouver, B.C.
Clean Air Metals follows a quality control procedure for its core assay
sampling program: inserting blind blanks and certified Palladium-Platinum and
Copper-Nickel standards into the sample stream. The insertion procedure
follows industry standards with control sample frequency depending on the
length of the sampled interval.
Gold, platinum, and palladium are analyzed using fire assay (FA) with an
inductively coupled plasma mass spectrometry (ICP-MS) finish. Samples with
grades above the optimal ICP-MS detection limits are analyzed using optical
emission spectroscopy (ICP-OES).
Also, thirty-three (33) elements of each sample, including copper, nickel,
silver, chromium, cobalt, and sulphur, are analyzed by a multi-element
analytical method using the atomic emission spectroscopy (ICP-AES) technique
following four-acid digestion of the sample. When samples have grades above
the optimal detection limits for this analytical method, they are re-analyzed
using a high-grade assay method with an ICP finish.
About Clean Air Metals
Clean Air Metals is a development and exploration company advancing its
flagship, 100% owned Thunder Bay North Critical Minerals ("TBN") project, 40
km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and
next to established infrastructure, hosts two (2) deposits - the Current and
Escape deposits, only 2.5 km apart. Together, the deposits host a 13.8
Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report
on the Thunder Bay North Project, Ontario Canada, NI43-101, SLR Consulting
Canada Ltd, June 19, 2023) with significant potential for expansion
down-plunge.
One of the rare primary platinum resources outside of South Africa, the TBN
project is in a stable and mining-friendly jurisdiction and benefits from
longstanding relationships with local First Nations. With its proven technical
team, Clean Air Metals is committed to growing the resources at the TBN
project and creating long-term value for shareholders.
Social Engagement
Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical
Minerals Project is located within the area encompassed by the
Robinson-Superior Treaty of 1850 and includes the territories of the Fort
William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging
Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also
acknowledges the contributions of the Métis Nation of Ontario, Region 2 and
the Red Sky Métis Independent Nation to the rich history of our area.
The Company appreciates the opportunity to work in these territories and
remains committed to the recognition and respect of those who have lived,
travelled, and gathered on the lands since time immemorial. Clean Air Metals
is committed to stewarding Indigenous heritage and remains committed to
building, fostering and encouraging a respectful relationship with First
Nations, Métis and Inuit peoples based upon principles of mutual trust,
respect, reciprocity and collaboration in the spirit of reconciliation.
ON BEHALF OF THE BOARD OF DIRECTORS
"Mike Garbutt"
Mike Garbutt, CEO of Clean Air Metals Inc.
Connect with us on X (https://pr.report/7wim) / Facebook
(https://pr.report/7win) / Instagram (https://pr.report/7wio) .
Visit www.cleanairmetals.ca (https://pr.report/7wip) for more information
or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
mboiridy@cleanairmetals.ca (mailto:mboiridy@cleanairmetals.ca)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Cautionary Note
The information contained herein contains "forward-looking statements" within
the meaning of applicable securities legislation. Forward-looking statements
relate to information that is based on assumptions of management, forecasts of
future results, and estimates of amounts not yet determinable. Any statements
that express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or, future events or performance are not statements of
historical fact and may be "forward-looking statements." Forward-looking
statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation: political and
regulatory risks associated with mining and exploration; risks related to the
maintenance of stock exchange listings; risks related to environmental
regulation and liability; the potential for delays in exploration or
development activities or the completion of feasibility studies; the
uncertainty of profitability; risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses; results of
prefeasibility and feasibility studies, and the possibility that future
exploration, development or mining results will not be consistent with the
Company's expectations; risks related to commodity price fluctuations; and
other risks and uncertainties related to the Company's prospects, properties
and business detailed elsewhere in the Company's disclosure record. Should one
or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof, and the Company
does not assume any obligation to update or revise them to reflect new events
or circumstances except in accordance with applicable securities laws. Actual
events or results could differ materially from the Company's expectations or
projections.
SOURCE: Clean Air Metals, Inc.
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