Clean Air Metals has released updated resources for the PGM-cobalt-copper-nickel Current Lake and Escape Lake deposits within its Thunder Bay North project in Ontario, 50 km from Thunder Bay. The company now plans to advance Current Lake towards a preliminary economic assessment.
The resources are based on a resource model developed assuming an underground mining scenario with ramp access.
Indicated resources at Current Lake now include 1.3 million palladium-equivalent oz. with an additional 410,000 palladium-equivalent oz. in the inferred category. Escape Lake adds 500,000 indicated palladium-equivalent oz. and 250,000 inferred palladium-equivalent oz.
“The broad suite of metals contained in the Thunder Bay North deposits is quite unique and positions the company well for participation in the transition to a low carbon transportation future,” Jim Gallagher, the company’s executive chairman, said in a release.
“An underground ramp-access mine planning approach by Nordmin Engineering has been the key to unlock value at the Thunder Bay North project,” added Abraham Drost, CEO of Clean Air Metals.
This year, the company is planning to deploy two drills to grow and upgrade the Escape Lake resources and one drill is expected to target resource extensions and upgrades at Current Lake.
As part of the PEA-level work, Clean Air Metals plans to complete additional geotechnical analysis on Current Lake and bench scale testing on a mineralized sample to verify metal recoveries. The nickel and copper will be tested for flotation recovery potential.
The Current Lake deposit now features 12 million indicated tonnes grading 1.48 g/t platinum, 1.4 g/t palladium, 0.07 g/t gold, 1.32 g/t silver, 0.04 g/t rhodium, 137 g/t cobalt, 0.28% copper and 0.17% nickel (3.44 g/t palladium-equivalent) which contain 1.3 million palladium-equivalent oz. Additional inferred resources within this deposit are estimated at 6.4 million tonnes grading 0.68g/t platinum, 0.65 g/t palladium, 0.06 g/t gold, 0.95 g/t silver, 0.01 g/t rhodium, 123 g/t cobalt, 0.3% copper and 0.14% nickel (2.02 g/t palladium-equivalent) that contain 416,810 palladium-equivalent oz.
At Escape Lake, indicated resources total 4.3 million tonnes at 0.92 g/t platinum, 1.18 g/t palladium, 0.12 g/t gold, 2.45 g/t silver, 0.06 g/t rhodium, 209 g/t cobalt, 0.52% copper and 0.28% nickel (3.67 g/t palladium-equivalent). Additional inferred resources total 3.4 million tonnes at 0.64 g/t platinum, 0.73 g/t palladium, 0.07 g/t gold, 1.13 g/t silver, 173 g/t cobalt, 0.33% copper and 0.18% nickel (2.23 g/t palladium-equivalent).
Previously, Current Lake deposit featured a pit-constrained historic indicated estimate of 9.8 million tonnes grading 2.3 g/t platinum-equivalent and inferred resources of 500,000 tonnes at 2.9 g/t platinum-equivalent.
For more information, visit www.CleanAirMetals.ca.