Clean Air Metals Inc. Announces Drilling at Escape Lake Near Thunder Bay
Clean Air Metals Inc. has announced that further to its press release of May 20 2020, effective at the open today, trading in the common shares of Clean Air resumed on the TSX Venture Exchange ("TSXV") under the symbol "AIR". Clean Air is now listed on the TSXV as a Tier 2 "Mining Issuer".
Clean Air is also pleased to announce that in conjunction with the commencement of trading today, May 22, 2020, the Company has initiated the Phase 1 10,000m diamond drilling campaign on the Escape Lake Intrusion portion of its Thunder Bay North Project, located 40 km northeast of Thunder Bay, Ontario Canada (Figure 1).
Phase 1 drilling will consist of approximately 15-20 holes of 500-600m each, nominally on 50m centers is designed to test the Escape Lake High Grade Zone target discovered in 6 holes by the previous project Operator. The Company's QP is in the process of validating the historical drilling data at Escape Lake including relogging and resampling of selected core intercepts and performing QA/QC checks on original, certified analytical data. The target area is located at approximately 350-450m vertical depth and is open geologically. The objective of the program is to better define the full geological extent of the mineralized area as a precursor to future calculation of a mineral resource estimate.
Abraham Drost, CEO of Clean Air Metals Inc. stated that, "After completing a $15M financing in February, 2020 with a lead order by Mr. Eric Sprott, and on behalf of our Board of Directors led by Executive Chairman Jim Gallagher, former CEO of North American Palladium Ltd., and our technical and administrative team and shareholders, I am very gratified to be up and trading and commencing drill testing of the Escape Lake mineralized horizon. Mineralization at Thunder Bay North is preferentially enriched with the catalytic conversion pollution control metals palladium and platinum in a 1:1 ratio, with ancillary copper and nickel; metals powering the electric vehicle revolution."
Allan MacTavish, M.Sc., P.Geo. (Ontario) and employee of Clean Air Metals Inc. is a Qualified Person under the provisions of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical content of this press release.
Clean Air has adopted COVID-19 avoidance and personal protection measures for its staff and service suppliers. Personnel are required to maintain physical distance, self-monitor and self-isolate or elect to work from home. Management has eliminated plans for a camp setup to service a planned diamond drill campaign on the Escape Lake Project. The Company is aware of Thunder Bay Health Unit guidelines that provide for "mandatory" self-isolation for returning overseas and inter-provincial travel. The guidelines also "strongly recommend" self-isolation after travel into the Northwest region from other areas of the Province. Mineral Exploration and Development has been deemed an essential service in the Province of Ontario (http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/). The Company has procured the services of a locally staffed and serviced diamond drilling contractor in order to commence the Phase 1 diamond drilling program.
The Company also announces that pursuant to a Form 3C "Certified Filing for Persons Conducting Investor Relations, Promotional or Market-Making Activities" with the TSX Venture Exchange, it has entered into an agreement (the "Agreement") to retain the services of Mr. Christopher Kaplan of Independent Trading Group ("ITG"). Mr. Kaplan will assist Clean Air in market making activities as Clean Air Metals Inc. (TSXV: AIR) resumes trading on the TSXV.
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