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THUNDER BAY, Ontario - Clean Air Metals Inc . (TSXV:AIR) announced Tuesday it will begin drilling this week to test potential extensions of the Escape deposit at its wholly-owned Thunder Bay North Critical Minerals Project.
The initial 900-meter drill hole will target one of three newly identified geophysical anomalies that the company believes could expand the resource. The program can be scaled up depending on results.
The Escape deposit currently represents approximately 40% of the Thunder Bay North project’s indicated resource of 14 million tonnes containing 2.4 million equivalent ounces of platinum, according to a June 2023 technical report.
Clean Air Metals identified the drill targets through magnetotelluric surveys that revealed three coincident magnetic and electromagnetic anomalies with characteristics similar to recently confirmed high-grade "ballroom" mineralization at the project’s Current deposit.
The first target is located approximately 300 meters east of the previously defined boundary of the Escape deposit’s high-grade zone, which has yielded intercepts including 19.2 meters of 4.09 g/t palladium, 2.90 g/t platinum, 1.42% copper and 0.75% nickel.
"The new geophysical assessments have delivered very appealing ’ballroom-type’ drill targets in the Escape down-plunge extension area," said Lionnel Djon, Vice President of Exploration, in the press release.
The company is also working on a Preliminary Economic Assessment for the project and has increased environmental monitoring activities to prepare for advanced exploration permits.
The Thunder Bay North project, located 40 kilometers northeast of Thunder Bay, is one of the few primary platinum resources outside South Africa, according to the company.
Clean Air Metals will hold its Annual General Meeting virtually on July 29.
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