from Clean Air Metals, Inc. (NASDAQ:CLRMF)
Clean Air Metals Announces Positive Results from Innovative Seismic Survey at the Escape Deposit Down-Plunge Extension
THUNDER BAY, ON / ACCESSWIRE / November 21, 2024 / Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV:AIR)(FRA:CKU)(OTCQB:CLRMF) is pleased to announce the results of its Ambient Noise Tomography ("ANT") Survey conducted over the Escape conduit during the summer of 2024. The survey corroborated a potential one-kilometer down-plunge extension of the deposit. It highlighted possible high-grade target areas that will be evaluated with additional geophysics in 2025 in anticipation of a future drilling program.
The Escape intrusion is a key contributor to the Thunder Bay North ("TBN") Project, representing approximately 40% of the total metal content of the estimated 14 million tonnes indicated resource (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023) containing 2.4 million equivalent ounces of platinum. The ANT survey was designed to define the untested southern extension of the Escape intrusion, which seems to extend for more than 2 km along strike, as outlined by the magnetic data (Figure 1).
Clean Air Metals' VP of Exploration, Lionnel Djon, commented, "The ANT survey has proven invaluable tool for exploring conduits at the Thunder Bay North Complex. By measuring velocity changes between rock formations, we can more accurately image the potential location of conduits hosting PGE sulphide mineralization. These results will enable us to target our drilling with significantly greater precision, which is incredibly promising for the project's future."
Ambient Noise Tomography Survey (ANT)
The ANT survey is a passive seismic technique that utilizes naturally occurring ambient noise, such as ocean wave activity, wind, human activities, and atmospheric disturbances, to generate seismic waves. By analyzing these waves, ANT creates detailed images of the subsurface, providing valuable geological insights. The velocity model for the Escape Lake grid is presented in Figure 2.
Survey Interpretation
The velocity model reveals a significant negative velocity anomaly around the Escape and Current conduits at a depth of 160 metres. This anomaly extends persistently along the strike of the Escape conduit, reaching depths of up to 700 metres in the southern part of the Escape Fault. This suggests the potential for extending the Escape conduit along the southeast axis at varying depths. The observed velocity decrease in the southern section of the Escape Lake Fault partially aligns with the magnetic inversion model. Notably, where negative velocity anomalies coincide with positive magnetic anomalies, the possible location of the conduit is highlighted.
Next Steps
Clean Air Metals will conduct a follow-up program next summer involving a detailed deep electromagnetic survey across the southern extension of the Escape deposit. This will aim to map the larger sulphide traps within the mineralized conduit. The results from this survey will guide the next phase of drilling, which will focus on identifying new high-grade zones and potentially expanding the resource estimate within the Escape Lake Intrusion.
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.
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,â¯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.â¯
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.
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Visit www.cleanairmetals.ca for more information or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
mboiridy@cleanairmetals.ca
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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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