RCS - Clean Air Metals, In - Clean Air Metals Reports Results From Drilling
27/02/2025 15:15
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RNS Number : 6196Y Clean Air Metals, Inc. 27 February 2025
Clean Air Metals Reports 21.4 m Grading 7.64 g/t Pt.eq in Latest Drilling
Results
THUNDER BAY, ON / ACCESS Newswire (https://www.accessnewswire.com/) /
February 27, 2025 / Clean Air Metals Inc. ("Clean Air Metals" or the
"Company") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce the first
results from its ongoing winter drilling program at its 100%-owned Thunder Bay
North Critical Minerals Project ("TBN"). Results from the first three (3)
holes confirmed that the known areas of near-surface, high-grade
mineralization at the Current deposit are more significant than initially
thought. Assay results for the remaining 10 holes are pending and will be
released when received.
Assay highlights:
· 21.4 m of 2.71 g/t Pt, 2.41 g/t Pd, 0.53% Cu and 0.28% Ni(7.64
g/t Pt.eq(1); 2.56% Cu.eq(2)) from 96 m downhole in Hole CL25-002, including
· 3.83 g/t Pt, 3.37 g/t Pd, 0.68% Cu and 0.34% Ni (10.39 g/t
Pt.eq(1); 3.48% Cu.eq(2)) over 5.75 m from 100.3 m, and
· 4.20 g/t Pt, 3.76 g/t Pd, 0.89% Cu and 0.34% Ni (11.86 g/t
Pt.eq(1); 3.97% Cu.eq(2)) over 6.4 m from 111.0 m
· 49.0 m of 1.57 g/t Pt, 1.46 g/t Pd, 0.32% Cu and 0.21% Ni(4.63
g/t Pt.eq(1); 1.55% Cu.eq(2)) from 74 m downhole in Hole CL25-001, including
· 2.91 g/t Pt, 2.67 g/t Pd, 0.55% Cu and 0.29% Ni (8.15 g/t
Pt.eq(1); 2.73% Cu.eq(2)) over 8 m from 96 m, and
· 2.74 g/t Pt, 2.42 g/t Pd, 0.53% Cu and 0.27% Ni (7.66 g/t
Pt.eq(1); 2.57% Cu.eq(2)) over 9 m from 110 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, low-tonnage, 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. Assays 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) (%)
CL25-001 74.0 123.0 49.0 1.57 1.46 0.32 0.21 3.03 0.53 4.63 1.55
Incl 96.0 104.0 8.0 2.91 2.67 0.55 0.29 5.58 0.84 8.15 2.73
And 110.0 119.0 9.0 2.74 2.42 0.53 0.27 5.15 0.80 7.66 2.57
CL25-002 96.0 117.4 21.4 2.71 2.41 0.53 0.28 5.12 0.81 7.64 2.56
incl. 100.3 106.0 5.75 3.83 3.37 0.68 0.34 7.20 1.01 10.39 3.48
incl. 111.0 117.4 6.4 4.20 3.76 0.89 0.34 7.96 1.23 11.86 3.97
CL25-003 88.0 116.0 28.0 0.89 0.83 0.22 0.20 1.72 0.42 2.94 0.99
Incl 102.0 113.0 11.0 1.12 1.01 0.27 0.23 2.13 0.50 3.61 1.21
The Winter 2025 drilling program is strategically designed to augment the
number, size, and grade of near-surface high-grade subzones at the Current
deposit, building on the positive results from the Summer 2024
program (see September 10, 2024 (https://pr.report/7p5i) , and October 3,
2024 (https://pr.report/7p5j) news releases), including:
· 51.79 m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu and 0.55% Ni(14.82
g/t Pt.eq; 4.71% Cu.eq) from 86 m downhole in Hole CL24-001;
· 31.40 m of 4.22g/t Pt, 4.04g/t Pd, 0.95% Cu and 0.56% Ni(13.04
g/t Pt.eq; 4.14% Cu.eq) from 118 m downhole in Hole CL24-003.
These new findings, in conjunction with the summer program's results, validate
the extensions of the mineralized subzones beyond 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). This further reinforces our
strategy of advancing a high-grade, high-margin moderate tonnage project.
Figure 1. Plan view map showing drill hole locations for the ongoing 13-hole
program at the Current deposit.
Downhole Geophysics Program
To enhance the targeting of high-grade mineralized subzones, Clean Air Metals
has engaged Crone Geophysics to conduct downhole Electromagnetic (EM) surveys
in the Lower Current zone. This advanced program is designed to accurately
identify and target the thickest, most enriched portions of the subzones
within both the Current and Escape deposits for future drilling campaigns.
Recent analyses of historical geophysical data have revealed that downhole EM
surveys have been the most effective method for targeting high-grade
mineralization at various depths. For the upcoming downhole EM, the approach
will be significantly enhanced by employing smaller loop sizes and advanced
sensor technologies specifically designed to improve the detection of
mineralized subzones, ensuring more precise identification.
Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented, "The
results from our recent drilling at the Current deposit have provided us with
increased confidence in successfully targeting the highest-grade subzones.
We're particularly excited by the lateral extensions of the known high-grade
areas, which remain open along strike. The systematic application of borehole
EM surveys to pinpoint the position of these high-grade 'plums' will allow us
to target them downplunge to significant depths."
Table 2. Hole Coordinates
Hole ID Easting- NAD83_16 (m) Northing NAD83_16 Elevation (m) Azimuth Dip (deg) Hole length (m)
(m) (deg)
CL25-001 357548 5402688 493 208.2 -73.9 165
CL25-002 357548 5402688 493 210.6 -85.2 150
CL25-003 357587 5402644 494 288.0 -84.1 150
Update on Project Development Activities
After completing the winter drill program and subsequent geophysics work, the
Company will evaluate the potential to update the resource, leading to a
Preliminary Economic Assessment that details our high-grade, high-margin,
low-capital development strategy for the Thunder Bay North project.
In line with our commitment to meaningfully advance the project, Clean Air
Metals has submitted a Notice of Project Change and Project Definition Report
to the Ontario Ministry of Mines in support of an Advanced Exploration Project
designation. The status change is the first step towards obtaining permits for
a potential underground ramp and bulk sample at the Current deposit.
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/7p5k) Core Shack (#3107B) on March 4 and 5, 2025 at
the Metro Toronto Convention Centre, Toronto.
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/7p5l) / Facebook
(https://pr.report/7p5m) / Instagram (https://pr.report/7p5n) .
Visit www.cleanairmetals.ca (https://pr.report/7p5o) 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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