Zürcher Nachrichten - Clean Air Metals Confirms Potential Major Extension at Escape Deposit Along 2.5 km Magnetic Trend

The target was the first of several coincident magnetic and electromagnetic anomalies to be drilled in the eastern half of the Escape conduit. The new intersection opens up 2.5 km of prospective geophysical targets and provides a critical new opportunity to expand the existing mineral inventory¹ in the Thunder Bay North ("TBN") project, which compliments the Company's focus on advancing the project to potentially become a significant critical minerals producer of Cu, Pt, Pd and Ni. Assay results are expected to be available in the coming weeks.

Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented, "The success of hole EL25-001 at Escape, which targeted a ballroom-shaped geophysical anomaly similar to those recently drilled at the Current Deposit, is a game-changer. The hole appears to have hit the edge of the ballroom target within the down plunge extension of the deposit. Importantly, this new intersection validates our geophysical targeting methodology and opens up tremendous potential for resource expansion at TBN within the previously untested, 2.5 km long modelled eastern extension to the Escape conduit."

¹ The Escape Deposit is a key contributor to the TBN Project, representing approximately 40% of the total metal content of the estimated 14 million tonnes of indicated resources (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023) containing 2.4 million equivalent ounces of platinum.

Image 1. Typical magmatic sulphide mineralization in peridotite from hole EL25-001, approximately 350 m east of the previously defined limits of the Escape Deposit.

Escape Deposit Down-Plunge Extension Drilling

In August, the Company drill-tested the first of several geophysical targets in the modelled down-plunge extension of the Escape Deposit (see July 22, 2025, News Release). These targets were selected within a 2.5 km-long magnetic anomaly that locally coincides with recently defined conductivity anomalies (Figure 1).

Two other high-priority targets featuring directly coincident magnetic and conductivity highs are planned to be drilled in future. Additional geophysical surveys are also being considered to improve the detection of the strongest conductivity areas within the modelled extension of the Escape conduit.

The mineralized ultramafic unit intersected in hole EL25-001 appears to represent the side wall of the ballroom structure being targeted. A subsequent borehole EM survey revealed a strong conductivity anomaly in the lower part of the hole, providing valuable guidance for follow-up drilling of this specific target.

Figure 1. Location of newly identified coincident magnetic and conductivity anomalies within the modelled down-plunge extension of the Escape Deposit.

Mike Garbutt, CEO of Clean Air Metals, commented, "We couldn't be more pleased with what we see in this first hole drilled at the Escape down-plunge. This hole serves as a springboard for future exploration efforts to expand the resource at Escape, while we aggressively advance the Thunder Bay North project through upcoming studies. We are also excited by the recent market interest in platinum and palladium, which will only serve to further enhance the viability of this project."

Update on Advancing the Thunder Bay North Project

The Company, in cooperation with various consultants, continues to progress the Thunder Bay North Preliminary Economic Assessment (PEA). This study will include an update to the resource at Current and Escape deposits, while outlining a robust, higher-grade production model that improves toll milling potential. Results of the PEA are expected to be available in the near future.

During the summer, the Company also collected baseline environmental data at the project site, with a particular focus on hydrology, surface water, and hydrogeological monitoring, in anticipation of a future permitting application. With an understanding of the site's pre-development conditions, Clean Air Metals can evaluate risks, design suitable mitigation measures, and establish closure plan objectives.

Qualified Person

Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President of Exploration for the Company, has reviewed and approved all technical information in this press release.

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals ("TBN") project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and next to established infrastructure, hosts two (2) deposits - the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 13.8 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario, Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge.

One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. The TBN project has the potential to develop into a secure source of rare platinum metals, as well as other critical metals such as copper, nickel, and cobalt, for the North American manufacturing sector. Ongoing concerns over future platinum supply are driving prices to historic highs, with obvious benefits for a future TBN mining operation. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.

Social Engagement

Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area. 

The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.

ON BEHALF OF THE BOARD OF DIRECTORS

"Mike Garbutt"

Mike Garbutt, CEO of Clean Air Metals Inc.

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Visit www.cleanairmetals.ca for more information or contact:

Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
[email protected]

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Cautionary Note

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or, future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE: Clean Air Metals, Inc.

View the original press release on ACCESS Newswire

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