Clean Air Metals (TSXV:AIR; OTC:CLRMF) has updated the indicated and inferred resources at its 100%-owned Thunder Bay North critical metals project. The property is 60 km southeast of the Lac des Iles palladium mine owned by Impala Canada (previously North American Palladium). The Current and Escape deposits, both of which exhibit a roughly 1:1 platinum to palladium ratio, are included in the estimate.
The Current deposit contains an indicated resource of 8.2 million tonnes grading 2.7 g/t platinum plus palladium (2PGE), 0.33% copper, and 0.22% nickel. The inferred resource is 1.6 million tonnes grading 1.7 g/tonne 2PGE, 0.32% copper, 0.20% nickel. The contained metals in the indicated portion include 717,000 oz. 2PGE, 59.5 million lb. copper, and 39.0 million lb. nickel.
The Escape deposit contains an indicated resource of 5.8 million tonnes grading 2.6 g/t 2PGE, 0.52% copper, 0.28% nickel. The inferred resource is 600,000 tonnes grading 1.5 g/t 2PGE, 0.29% copper, and 0.17% nickel. Contained metals in the indicated portion of the Escape deposit include 492,000 oz. 2PFGE, 67.0 million lb. copper, and 36.4 million lb. nickel.
The estimate was prepared by SLR Consulting and is based on underground mining using a net smelter return cut-off value of US$48/tonne with prices of US$1,500/oz. palladium, US1,450/oz. platinum, US$24/oz. silver, US$1,800/oz. gold, US$4.25/lb. copper, and US$10/lb. nickel.
Clean Air said it will now focus on a new economic study for Current and Escape to include potential mining rates, sequencing, geotechnical analysis, and updated metallurgical recoveries. The bench-scale metallurgical tests and recovery estimated will be completed to a prefeasibility standard.
Rhodium and cobalt present in the deposits are not considered payables, but they are potentially valuable by-product credits at Thunder Bay North.
Learn more on www.CleanAirMetals.ca.