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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, ........
Source:
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Flow Sheet:
Summary:
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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.
| Category | Tonnage | Commodity | Grade | Contained 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
|
| Type | Material | Diameter | Length | Description |
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