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Canada
Thunder Bay North (TBN) Project

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 Location:
47 km NE from Thunder Bay, Ontario, Canada

  Project Contacts:
1004 Alloy Drive
Thunder Bay
Ontario, Canada
P7B 6A5
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StatusArchived
Mine TypeUnderground
Commodities
  • Platinum
  • Palladium
  • Copper
  • Nickel
  • Gold
  • Silver
  • Cobalt
  • Rhodium
Mining Method
  • Drift & Fill
  • Cross-cut drift
  • Longhole open stoping
  • Cemented backfill
Mine Life10 years (as of Jan 1, 2021)
The Project is comprised of the Current Lake Property and the Escape Lake Property.

Feb. 15, 2023 - Previous reporting was based on an independent mineral resource estimate and subsequent preliminary economic assessment ("PEA") prepared by Nordmin Engineering Ltd. (January 20, 2021; December 1, 2021; January 13, 2022). 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, Thunder Bay, Ontario" (filed on SEDAR on January 12, 2022) must not be relied upon and the Company retracts both documents.

Clean Air Metals Inc. reports on an ongoing internal review of the mineral resource estimate at the Thunder Bay North Project, under the independent supervision of SLR Consulting (Canada) Ltd. ("SLR").


Owners

Source: p. 1
CompanyInterestOwnership
Benton Resources Inc. 100 % Indirect
THUNDER BAY, ON, Nov. 10, 2021 /CNW/ - Clean Air Metals Inc. ("Company") is pleased to announce that it has made the final payment of CAD$1 Million, for and on behalf of Benton Resources Inc. ("Benton"), directly to Rio Tinto Exploration Canada Inc. ("RTEC"), pursuant to the terms of the definitive option agreement (the "Option Agreement") entered into by the Company and Benton in order to satisfy a payment requirement of Benton under its pre-existing option agreement with RTEC dated October 9, 2019 relating to the Escape Lake Property.

Clean Air Metals has now fulfilled all of Benton's payment obligations under the Escape Lake Option Agreement, earning Benton a 100% right, title and interest in and to the Escape Lake Property, subject a 1.0% net smelter return royalty to be retained by RTEC, and subject to Clean Air Metals' right to acquire 100% of Benton's interest in and to the Escape Lake Property pursuant to the terms of the Option Agreement.

Contractors

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Deposit Type

  • Magmatic
  • MMS
  • Intrusion related
  • Vein / narrow vein


Summary:

Within the Project area, the main rock types are Archean granites and metasedimentary rocks of the Quetico Subprovince, and Keweenawan Supergroup mafic to ultramafic intrusive rocks and related intermediate to mafic hybrid intrusive rocks of the Mid-continent Rift.

The Current, Escape, and Lone Island Lake North and South intrusions appear to be connected by the diffuse East West Complex which consists of a series of moderately-dipping hybrid sills and dykes that are confined to the Escape Lake Fault Zone which comprises the southernmost part of the Quetico Fault system.

Most of the presently known mineralization is hosted within the Current and Escape intrusions, although disseminated Pt-Pd-Cu-Ni mineralization has also been observed within the Lone Island and 025 intrusions. These intrusions comprise four of the at least five Keweenawan (Mesoproterozoic) age magmatic conduits present along the northwestern edge of the MCR system within the Project boundaries. This group of related intrusions have been collectively termed the Thunder Bay North Intrusive Complex.

The Current deposit has six well defined zones of mineralization that are contiguous along the plunge of the intrusion. Escape deposit has three well defined zones of mineralization that were used within the current Mineral Resource Estimate.

Upper Current/Current Zone
The Current Zone, discovered in late 2006 by Magma Metals, is hosted within a sub-horizontal to gen ........


Mining Methods

  • Drift & Fill
  • Cross-cut drift
  • Longhole open stoping
  • Cemented backfill


Summary:

The proposed operation involves underground mining at a rate of 3,600 t/d with an accompanying process plant with a matching 3,600 t/d capacity.

The Current deposit is accessed via a portal from surface and has a 12-month pre-production development period, which allows for the Current deposit main decline system to connect to the Current main fresh air raise and provide secondary egress for the mine. Contractor decline development is assumed for the 12-month pre-production period as well as the following 2 years.

The Escape deposit is accessed via a separate portal from surface. The main decline development begins 12 months after the Current deposit decline begins and continues for 3 years, until the decline connects with the Escape main fresh air raise. Contractor decline development is assumed for the Escape deposit.

The Current and Escape deposits will be mined via a combination of conventional underground long hole open stope and drift & fill mining methods, backfilled with a combination of CPB, CRF and URF. Stopes are designed to be accessed and excavated via overcut and undercut development cross-cut drifts, which connect to the main declines. The main declines provide ventilation, haulage to surface, and mine access.

Stopes are accessed via cross cuts from the main ramp systems. In situations where the height of the mineralized material within the conduit is less than 25 m, only undercut access is driven. Stopes are drilled, ........


Crushing and Grinding
Source: Subscription required

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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsDailyAvg. AnnualLOM
Platinum Metal in ore koz 629
Palladium Metal in ore koz  ......  Subscription required
Copper Metal in ore M lbs  ......  Subscription required
Nickel Metal in ore M lbs  ......  Subscription required
Gold Metal in ore koz  ......  Subscription required
Silver Metal in ore koz  ......  Subscription required
Platinum Equivalent Metal in ore koz  ......  Subscription required
Copper Concentrate kt  ......  Subscription required  ......  Subscription required
Copper-PGE Concentrate kt  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Daily mining rate  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at November 1, 2021:
The cutoff value used for the Mineral Resource for Current deposit is US$93/tonne (C$121/tonne) insitu contained value and the Escape deposit is US$100/tonne (C$130/tonne) insitu contained value.

CategoryTonnage CommodityGradeContained Metal
Indicated 14,553,324 t Platinum 1.54 g/t 719,518 oz
Indicated 14,553,324 t Palladium 1.58 g/t 741,426 oz
Indicated 14,553,324 t Copper 0.42 % 61,126 t
Indicated 14,553,324 t Nickel 0.23 % 33,131 t
Indicated 14,553,324 t Gold 0.1 g/t 47,322 oz
Indicated 14,553,324 t Silver 2.3 g/t 1,075,381 oz
Indicated 14,553,324 t Cobalt 167 g/t 2,435 t
Indicated 14,553,324 t Rhodium 0.05 g/t 23,511 oz
Indicated 14,553,324 t Platinum Equivalent 8.12 g/t 3,798,581 oz
Indicated 14,553,324 t Palladium Equivalent 3.55 g/t 1,662,522 oz
Indicated 14,553,324 t 4E (Pt, Pd, Rh, Au) 3.27 g/t 1,531,777 oz
Inferred 8,077,595 t Platinum 0.69 g/t 179,130 oz
Inferred 8,077,595 t Palladium 0.67 g/t 173,829 oz
Inferred 8,077,595 t Copper 0.33 % 26,329 t
Inferred 8,077,595 t Nickel 0.15 % 12,009 t
Inferred 8,077,595 t Gold 0.07 g/t 17,508 oz
Inferred 8,077,595 t Silver 1.07 g/t 276,702 oz
Inferred 8,077,595 t Cobalt 138 g/t 1,119 t
Inferred 8,077,595 t Rhodium 0.01 g/t 1,724 oz
Inferred 8,077,595 t Platinum Equivalent 4.07 g/t 1,057,646 oz
Inferred 8,077,595 t Palladium Equivalent 1.78 g/t 462,899 oz
Inferred 8,077,595 t 4E (Pt, Pd, Rh, Au) 1.43 g/t 372,191 oz

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Palladium USD  ......  Subscription required&nbs
Assumed price Platinum USD  ......  Subscription required&nbs
Assumed price Nickel USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
UG mining costs ($/t milled) CAD 47.4 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 305.1
Transportation (haulage) costs $M CAD 57.9
G&A costs $M CAD 83.7
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Operating margin, %  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 7% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of December 1, 2021:
HME TypeSizeQuantity
ANFO Loader ....................... Subscription required
....................... Subscription required ....................... Subscription required
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....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Nov 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 14, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 1, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 1, 2021
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
Preliminary Economic Assessment 2011
Subscription required - Subscription is required.

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