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Clean Air Metals Withdraws Mineral Resource Estimate and PEA, Thunder Bay North Critical Minerals Project, Pending Restatement
Clean Air Metals Withdraws Mineral Resource Estimate and PEA, Thunder Bay North Critical Minerals...
About this update from Clean Air Metals, Inc.
[{"type":"text","content":"\n \n \n \n Clean Air Metals Withdraws Mineral Resource Estimate and PEA, Thunder Bay North Critical Minerals Project, Pending Restatement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n THUNDER BAY, ON\n \n \n ,\n \n \n Feb. 15, 2023\n \n \n /CNW/ -\n \n Clean Air Metals Inc.\n \n (\"Clean Air Metals\") (the \"Company\") (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU) reports on an ongoing internal review of the mineral resource estimate at the Thunder Bay North Project, under the independent supervision of SLR Consulting (\n \n Canada\n \n ) Ltd. (\"SLR\"). The Company has determined that there will likely be a material reduction in the metal content in the Current Deposit, one of the two mineral deposits comprising the Thunder Bay North Project, which could be in the range of a 20% to 50% reduction from what was previously reported by the Company.\n \n \n Previous reporting was based on an independent mineral resource estimate and subsequent preliminary economic assessment (\"PEA\") prepared by Nordmin Engineering Ltd. (\n \n January 20, 2021\n \n ;\n \n December 1, 2021\n \n ;\n \n January 13, 2022\n \n ). Due to an apparent over-estimation of the original mineral resource at the Current Deposit, the results of the PEA in the technical report \"NI 43-101 Technical Report and Preliminary Economic Assessment for the Thunder Bay North Project,\n \n Thunder Bay, Ontario\n \n \" (filed on SEDAR on\n \n January 12, 2022\n \n ) must not be relied upon and the Company retracts both documents.\n \n \n In\n \n July 2022\n \n , Clean Air Metals engaged SLR to provide independent oversight and validation of an updated mineral resource estimate that was to be generated for both PGE-Cu-Ni deposits (the Current and Escape deposits) within the Thunder Bay North Project (press release\n \n August 2, 2022\n \n ). The process commenced with the Escape Deposit, which included the addition of approximately\n \n 38,980 m\n \n of infill drilling data in 78 holes (reported variously through 2021 and 2022) that were completed after the initial PEA c...