- Located close to the prolific Lac des Iles mine, a pure play palladium producer
- Skilled management in Jim Gallagher, govt chairman and Abraham Drost, CEO
- Headquartered in Thunder Bay, a positive jurisdiction dwelling to sector-major Impala
What Clear Air Metals does:
() () () is banking on the rising demand for , palladium, copper and nickel.
The corporate is a junior explorer growing its flagship high-grade polymetallic Thunder Bay North mission. The consolidated property incorporates each the Present deposit and the Escape deposit, twin magma conduits.
The Present deposit incorporates an indicated useful resource of 1,328,789 ounces of palladium equal (PdEq) with a grade of three.44 grams per ton (g/t) PdEq. The Escape deposit which is open on strike homes an indicated useful resource of 505,369 ounces PdEq graded 3.67 g/t PdEq and is geologically open to enlargement.
Thunder Bay North is in the identical mining district because the Lac des Iles mine, a world-class ore physique with each an underground mine and floor operations.
Jim Gallagher, the chief chairman of Clear Air Metals’ and former CEO of North American Palladium, is credited with advancing the Lac des Iles mine earlier than the positioning and firm had been acquired for C$1 billion by PGM main Impala Platinum (JSE:IMP) (OTCMKTS:IMPUY) in 2019. Earlier than the sale North American Palladium was the one pure-play palladium miner on this planet.
Clear Air Metals is concentrated on the low carbon emissions future, which is creating rising demand for palladium and platinum within the automotive and inexperienced hydrogen sectors.
The agency can be in pursuit of further clear power metals – rhodium, copper and nickel – by greenfield exploration at a Norilsk-style multi-ounce nickel sulphide deposit.
How is it doing:
Clear Air Metals is at present conducting a drill program on the Escape Conduit Development on the Thunder Bay North property. Since Could 2021, optimistic assays from the continuing drill had been launched, that includes thirty holes that registered various grades of palladium, platinum, copper and nickel and led to the calculation of a half-million ounce palladium-equivalent useful resource.
A further 30,000 meters of systematic delineation drilling is deliberate for this yr on the Escape mission. The focused drill will join the Escape South and Steepledge South useful resource areas. At an preliminary useful resource discovery price of C$9.00 per ounce, the Escape conduit is proving to be an especially fertile PGE-Ni-Cu deposit.
In Could, the polymetallic explorer commenced an environmental baseline discipline knowledge gathering in pursuit of a mission allow for Thunder Bay North.
On a company foundation, Clear Air accomplished a $1.5 million installment cost to Panoramic Sources Restricted () in Could 2021. The cost was a part of a $9 million deal that noticed Clear Air take management of the Present magma conduit deposit. Equal funds totaling $3 million every are payable in 2022 and 2023.
In October 2020, as a part of the $6 million buy value, Clear Air accomplished a $1 million money cost on to Rio Tinto Exploration Canada. The choice settlement allowed Clear Air to amass all rights, title and curiosity within the Escape Lake property with Benton Sources (CVE:BEX). Two remaining funds totaling C$2 million are slated for 2022 and 2023.
- 45,000-meter diamond drilling marketing campaign at Thunder Bay North
- Check Norilsk-style multi-ounce huge sulphide targets
- Pattern outcomes coming
What the dealer says:
Echelon Capital Markets has initiated protection on Clear Air Metals with a ‘Speculative Purchase’ score and a C$0.80 value goal.
“The Escape Lake deposit stays open and will probably be topic to in depth systematic drilling in 2021,” Echelon analysts wrote in a observe to shoppers.
“Drilling will even goal to improve Inferred assets within the Beaver Lake Zone within the adjoining Present Lake deposit space and check geophysical anomalies recognized within the Feeder Zone space underlain by the Escape Lake Fault on the southern base of the Present Lake intrusion. The goal right here is the supply of Norilsk-style slim, high-grade huge sulphide lenses additional up. within the Present Lake conduit.”
What the boss says:
As a part of the replace asserting the baseline discipline knowledge assortment, Abraham Drost, CEO of Clear Air Metals mentioned: “Because the dedication to long run environmental baseline knowledge assortment demonstrates, the Firm is dedicated to working by the best requirements of environmental, social and governance (ESG) components.”
He continued: “Clear Air Metals is a pacesetter amongst its friends within the junior mining exploration and improvement area. This begins from the bottom up with employees discipline well being and security protocols. The corporate’s complete COVID avoidance coverage has been in place since February 2020 with zero incidence of an infection amongst employees and repair suppliers. Subject employees and administration have accomplished Indigenous cultural sensitivity coaching and evaluation of the PDAC e3 Plus exploration finest practices pointers.”
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