Clean Air Metals reports updated mineral resource estimate for Thunder Bay North project
May 05, 2023 at 05:51 pm
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Clean Air Metals CEO Abraham Drost joined Proactive's Stephen Gunnion with details of an updated Indicated and Inferred Mineral Resource Estimate (MRE) for the company's flagship, 100%-owned Thunder Bay North Critical Metals Project.
Drost said the new combined MRE for the Escape and Current deposits is now complete and work will continue to determine the viability of a potentially bulk mineable, ramp-accessible underground constrained mineral resource.
He also highlighted that Triple Flag Precious Metals has now forwarded the Tranche 2 payment of C$5 million under the royalty facility of the Thunder Bay North Project, which he said was a vote of confidence in the project and Clean Air Metals' management team.
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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.