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This Thunder Bay Platinum-Palladium Company may be Ready to Breakout

Jocelyn Aspa Jocelyn Aspa, The Market Herald
6 Comments| March 24, 2022

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Click to enlargeThe province of Ontario is one of Canada’s most favorable provinces when it comes to exploration and mining of platinum and palladium. Notably, the Thunder Bay region has generated interest from companies in the space to set up shop and develop platinum-palladium mines, including Clean Air Metals Inc. (TSXV:AIR, OTCQB:CLRMF, Forum).

Conveniently also headquartered out of Thunder Bay, Ontario, Clean Air Metals is a platinum and palladium exploration company currently focused on advancing its flagship Thunder Bay North project, located only 50km from the City of Thunder Bay.

The Thunder Bay Region is a mining friendly jurisdiction that supplies and services six operating metal mines across Northwestern Ontario and is well endowed with key infrastructure, a skilled labour force and renewable grid power. To date, there has been significant drilling at the Thunder Bay North property with over 200km of drilling in 1000 holes. Approximately $120 million has been spent on past exploration by Clean Air Metals ($20m) and previous owners Rio Tinto and Panoramic Resources of Australia.

More recently, the company completed a preliminary economic assessment (PEA) for a ramp-access underground mine on the twin Escape and Current magma conduit deposits, published in January, 2022. The PEA demonstrates that total payable metal production over a 10-year mine life at 3600 tonnes per day is expected to be 629,000 ounces of platinum, 618,000 ounces of palladium, 111 million pounds of copper, 57 million pounds of nickel, 38,000 oz gold and 850,000 oz silver.

In line with this, the company announced in March that it has recently appointed Mr. Kris Tuuttila as director of sustainability, permitting and community relations for the company while Dr. Geoff Heggie has been promoted to vice president of exploration of the company.

A search for an experienced mining engineer as chief operating officer for Clean Air Metals is also underway to lead the technical feasibility studies in order to advance the Thunder Bay North project to development. Top priorities will include pre-feasibility level metallurgical optimization and to investigate options in order to reach net zero emissions related to feasibility studies at the project.

Clean Air Metals also announced it recently published its “Clean Air Metals Inc. - 2021 ESG Report,” which is part of its goal of transparency and continued improvement in health and safety, environment, community and development of human resources.

Highlights of the report include the company indicating it is striving for carbon neutrality in the design of its Thunder Bay North project, which includes using 100% renewable grid-supplied power, co-funding replanting efforts in legacy areas with the local forest manager, investigating carbon capture with its mine tails and looking to electrify mine fleet in feasibility mine design.


About the Thunder Bay North project

With its ideal location 50km away from the city of Thunder Bay, the Thunder Bay North Project is also located in close proximity to a range of operating mines including the Lac Des Iles mine, which is owned by Impala Platinum Holdings, and the Eagle Mine, which is owned by Lundin Mining.


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In early January, the company announced drill results from the Thunder Bay North property, notably from the Escape South High Grade Zone. Hole ELR21-083A intersected 46m grading 19.6 grams per ton (t/g) PtEq insitu, composed of 3.03 g/t platinum, 3.95 g/t palladium, 1.33% copper and 0.51% nickel from 399.0-455.0 downhole.


The investment corner

Clean Air Metals Inc. (AIR: TSXV) is a relatively new issuer that commenced trading in May, 2020. The initial project package was purchased for a total of C$15 million. Now with a robust fully discounted NAV of the PEA mine plan of over C$400m, the value-add by the Clean Air Metals management team to date is appreciable. The management team includes Executive Chairman Jim Gallagher, P.Eng. most recently with North American Palladium at the sale of company and the Lac des Iles Mine to Impala Platinum of Johannesburg, SA for C$1 billion in December, 2019. CEO Abraham Drost was most recently CEO of Carlisle Goldfields at the sale of the company and the Lynn Lake, Manitoba gold complex to Alamos Gold Inc. in 2016.

As such, the NAV of the Thunder Bay North project is not yet reflected in the market cap of Clean Air Metals Inc. Investors may wish to place Clean Air Metals on their watchlist and get in early as the development team is built up, prefeasibility studies and concurrent exploration for high grade massive sulphide deposits gets underway and the market starts to catch on.

For more information, visit cleanairmetals.ca .

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.



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