Clean Air Metals CEO discusses market strategies and Thunder Bay North Project - PDAC 2024
March 18, 2024 at 04:37 pm
Share
(via NewsDirect)
Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) CEO Jim Gallagher shared insights in an interview with Proactive's Angela Harmantas at PDAC 2024, highlighting challenges and strategies amidst current market conditions.
Gallagher said the mining industry, particularly the junior market, faces financing difficulties with metal prices not reacting to critical mineral discussions. However, he noted positive interactions with politicians, suggesting an emerging recognition of the mining sector's need for incentives.
Despite market lows, Gallagher sees an opportunity, particularly in Northwestern Ontario, for acquiring assets in platinum and palladium deposits. This region is deemed superior for exploration compared to South African deposits, which are well-known but costly due to their depth.
Clean Air Metals' flagship project, Thunder Bay North, in Ontario, is a platinum-palladium venture. Over recent years, extensive drilling has expanded the resource base to 14 million tonnes, with an approximate 2.5 million combined ounces of platinum and palladium. The company plans a modest exploration program focused on the Escape deposit's down-plunge areas, previously unexplored beyond 500 metres depth. This exploration, supported by strong geophysical data, will commence post-winter.
Gallagher emphasized the importance of having a skilled technical team for project advancement, highlighting Clean Air Metals' conservative cash management. With $6 million in reserves, the company aims to navigate through the market's low phase, gradually enhancing project value in anticipation of favorable metal prices.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source Press Releases
Clean Air Metals Inc. is a Canada-based platinum and palladium exploration company. The Companyâs flagship asset is the 100% owned, high grade Thunder Bay North Critical Minerals (TBNCM) 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. TBNCM project hosts the Current and Escape deposits. The TBNCM project comprises three projects: Thunder Bay North Property, Escape Lake Property and Escape North Property. Thunder Bay North Property consists of 300 unpatented claims (1456 cell units) covering an aggregate area of over 29,725 hectares (ha). Escape Lake Property consists of 20 unpatented claims (20 cell units) with an area of approximately 561.3 ha. The property is located 2.1 kilometers (km) west-southwest of the Current Lake Deposit. Escape North Property consists of 24 unpatented claims (67 cell units) with an area of approximately 1722 ha.