THUNDER BAY, ON, April 19, 2021 /CNW/ - Clean Air Metals Inc.
("Clean Air Metals" or the "Company") (TSXV: AIR)
(OTCQB: CLRMF) (FRA: CKU) is pleased to announce new assay results
(Table 1) from the drilling campaign at the Escape Lake Deposit
currently underway with two drills at the Company's Thunder Bay
North Project (the "Project"). A total of 30,000m of systematic delineation drilling
connecting the Escape South and Steepledge South resource areas is
planned for the Escape Lake Deposit in 2021.
Highlights (Table 1) include:
- Hole ELR20-041 intersected 0.3m of 8.17/t Palladium (Pd), 8.34g/t Platinum
(Pt), 7.15% Copper (Cu) and 0.30% Nickel (Ni) from 341.5m – 341.8m
downhole located in the Escape Lake Deposit area 350m north of the centroid of the Escape South
High Grade Zone.
- Hole ELR21-037 intersected 9.0m of 1.47g/t Palladium (Pd), 1.28g/t Platinum
(Pt), 0.61% Copper (Cu) and 0.27% Nickel (Ni) from 373.0m – 382.0m
downhole located between the Escape South High Grade Zone and the
Steepledge North Zone.
- Hole ELR21-043 intersected 9.0m of 1.37g/t Palladium (Pd), 1.14g/t Platinum
(Pt), 0.52% Copper (Cu) and 0.36% Nickel (Ni) from 317.0m – 326.1m
downhole located between the Escape South High Grade Zone and the
Steepledge North Zone.
The recent discovery of a high-grade massive sulphide lens in
the Escape Lake Deposit (Figure 2) and similar material previously
discovered in the Current Lake Deposit (Figure 3) are considered to
be transported material and exploration vectors to a potential
larger source area. A third drill and local crew has now mobilized
to the project site and has commenced drilling on the first of six
high priority massive sulphide targets on the Thunder Bay North
Property (Figure 4). The targets are high conductivity geophysical
features identified in basal structural and stratigraphic locations
with high potential to host massive sulphide mineralization (Figure
1). A total of 15,000m in 25-30
holes has now been allocated to testing of the initial six massive
sulphide target areas.
The fertility of the Escape Lake magma conduit deposit is well
illustrated by the recent mineral resource update, reported on
January 20, 2021. The Escape Lake
Deposit has an overall Indicated mineral resource of 505,369 ounces
at 3.67g/t PdEq in 4,286,220 tonnes and is geologically open along
trend. The Current Lake Deposit in turn has an Indicated mineral
resource of 1,328,789 oz PdEq at an average grade of 3.44 g/t PdEq
in 11,999,177 tonnes (pursuant to the January 20, 2021 NI 43-101 Technical Report and
Mineral Resource Estimate for the Thunder Bay North Project,
Thunder Bay, Ontario, prepared by
Nordmin Engineering Ltd. with QP Glen Kuntz, P.Geo, as posted to
SEDAR on March 4, 2021).
Abraham Drost, CEO of Clean
Air Metals stated that "the Company confirms the
high-level similarities of the magma conduit chonolith system and
structural and stratigraphic controls on mineralization at Thunder
Bay North with the Talnakh complex, one of the world's foremost
Nickel-Copper-PGM mining camps. Based on the recent resource update
and discovery of massive sulphides in the Escape Lake Deposit with
favorable metal ratios and the recent completion of a structural
analysis and MT geophysical surveys, we are committing to a
substantial ramp up of our drilling exploration efforts on multiple
bullseye ultra-low resistivity targets at the base of both the
Escape Lake and Current Lake magma conduit deposit systems."
Table 1: New Assay Results Update – Escape
Lake Zone, Thunder Bay North
Hole
ID
|
Company
|
From,
m
|
To,
m
|
Length,
m
|
Pt+Pd
(g/t)
|
Cu+Ni
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
Cu
(%)
|
Ni
(%)
|
ELR21-037
|
AIR
|
286
|
288
|
2.0
|
1.29
|
0.17
|
0.63
|
0.67
|
0.10
|
0.07
|
ELR21-037
|
AIR
|
294
|
312
|
18.0
|
1.52
|
0.50
|
0.68
|
0.84
|
0.32
|
0.18
|
ELR21-037
|
AIR
|
318
|
322
|
4.0
|
1.29
|
0.44
|
0.57
|
0.71
|
0.21
|
0.22
|
ELR21-037
|
AIR
|
330
|
353
|
23.0
|
1.65
|
0.57
|
0.74
|
0.91
|
0.32
|
0.25
|
ELR21-037
|
AIR
|
357
|
360
|
3.0
|
1.64
|
0.55
|
0.73
|
0.90
|
0.31
|
0.24
|
ELR21-037
|
AIR
|
366
|
370
|
4.0
|
1.81
|
0.56
|
0.83
|
0.97
|
0.35
|
0.21
|
ELR21-037
|
AIR
|
373
|
382
|
9.0
|
2.75
|
0.88
|
1.28
|
1.47
|
0.61
|
0.27
|
ELR21-039
|
AIR
|
297
|
299
|
2.0
|
1.05
|
0.21
|
0.45
|
0.61
|
0.06
|
0.14
|
ELR21-039
|
AIR
|
339
|
341
|
2.0
|
1.09
|
0.39
|
0.50
|
0.60
|
0.19
|
0.20
|
ELR21-041
|
AIR
|
336.9
|
337.57
|
0.7
|
20.18
|
7.32
|
8.63
|
11.55
|
4.93
|
2.39
|
ELR21-041
|
**incl
|
336.9
|
337.57
|
0.7
|
14.38
|
7.26
|
6.45
|
7.93
|
4.76
|
2.50
|
ELR21-041
|
AIR
|
341.5
|
341.8
|
0.3
|
16.51
|
7.45
|
8.34
|
8.17
|
7.15
|
0.30
|
ELR21-043
|
AIR
|
274
|
280
|
6.0
|
1.16
|
0.41
|
0.50
|
0.66
|
0.24
|
0.17
|
ELR21-043
|
AIR
|
296
|
300
|
4.0
|
1.37
|
0.49
|
0.63
|
0.74
|
0.26
|
0.23
|
ELR21-043
|
AIR
|
317
|
326.1
|
9.1
|
2.51
|
0.88
|
1.14
|
1.37
|
0.52
|
0.36
|
ELR21-043
|
AIR
|
334
|
336
|
2.0
|
1.36
|
0.41
|
0.63
|
0.73
|
0.23
|
0.18
|
ELR21-044A
|
AIR
|
318.4
|
319.9
|
1.5
|
2.49
|
0.68
|
1.17
|
1.32
|
0.46
|
0.22
|
ELR21-047
|
AIR
|
341.8
|
346.53
|
4.7
|
1.99
|
0.65
|
0.90
|
1.08
|
0.39
|
0.26
|
|
Note:
|
1)
|
All intercepts are
estimated to be >95% of true width based on drill hole
inclination
|
2)
|
Mineralized intervals
calculated at 1 ppm Pt+Pd cutoff
|
**
|
Previously reported
composite assay interval on March 18, 2021 on a Rush
basis
|
COVID Policy
Clean Air Metals has adopted COVID-19 avoidance and personal
protection measures for its geological staff, drilling contractor
and service suppliers. Personnel are required to maintain physical
distance, use Personal Protective Equipment (PPE), self-monitor and
self-isolate or elect to work from home. Management had previously
eliminated plans for a camp setup to service a planned diamond
drill campaign on the Escape Lake Project. The Company is aware of
Thunder Bay Health Unit guidelines that provide for "mandatory"
self-isolation for returning overseas travel. The guidelines also
"strongly recommend" self- monitoring and self-isolation as needed
after travel into the Northwest region from other areas of the
Province and interprovincially. Mineral Exploration and Development
has been deemed an essential service in the Province of
Ontario
(http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/
). The Company has procured the services of a locally staffed and
serviced diamond drilling contractor to complete the diamond
drilling program.
Qualified Person
Mr. Allan MacTavish, P.Geo. a
Qualified Person under National Instrument 43-101 and VP, Project
Manager of the Company, has reviewed and approved all technical
information in this press release.
Social Engagement
Clean Air Metals Inc. 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 First
Nation and Biinjitiwabik Zaaging Anishinabek. The parties
together are the Cooperating Participants in a Memorandum of
Agreement dated January 9, 2021 and the issue of
Warrants, reported January 28, 2021.
About Clean Air Metals Inc.
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. The Clean Air Metals project hosts the Current Lake
deposit and magma conduit and the Company is actively exploring the
Escape Lake deposit, a twin structure to the Current Lake deposit.
Executive Chairman Jim Gallagher and
CEO Abraham Drost lead an
experienced team of geologists and engineers who are using the
Norilsk magma conduit stratigraphic and mineral deposit model to
guide ongoing exploration and development studies. As the former
CEO of North American Palladium Ltd. which owned the Lac des Iles
Mine prior to the sale to Impala Platinum in December 2019, Jim
Gallagher and team are credited with the mine turnaround and
creation of significant value for shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS
"Abraham Drost"
Abraham Drost, Chief Executive
Officer of Clean Air Metals Inc.
Neither the 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, including statements regarding the potential of the
Thunder Bay North Project and the Escape Lake and Current Lake
deposits and timing of technical studies and mineral resource
estimates. 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 projection.
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SOURCE Clean Air Metals Inc.