The mineral resource estimate was prepared by
The Current
The Escape
Highlights
- Indicated mineral resources at
Thunder Bay North Project are approximately 1.33 million oz PdEq in the CurrentLake Deposit and 0.50 million oz PdEq in the EscapeLake Deposit . - Inferred mineral resources at
Thunder Bay North Project are approximately 0.41 million oz PdEq in the CurrentLake Deposit and 0.25 million oz PdEq in the EscapeLake Deposit . - The underground resource at the Current
Lake Deposit will now be the focus of a Preliminary Economic Assessment which will include specific work on geotechnical analysis and bench scale testing on a drilled bulk sample of mineralized material to verify metallurgical recoveries. - The Indicated mineral resource is developed in multiple zones which exhibit a variable grade profile with highest grades occurring at relatively shallow depths, including the lower
Current Zone andBridge Zone in the CurrentLake Deposit . (See Table 3; Figure 1). - The initial mineral resource at
Escape Lake is geologically open and will be the target of an extensive systematic drilling program planned for 2021. Current Lake andEscape Lake are polymetallic deposits with a roughly 1:1 platinum to palladium ratio and comparable geological attributes and metal grades.- Nickel and Copper contribute significant metal values and will be tested for metallurgical flotation and recovery potential.
- Gold, Silver, Cobalt and Rhodium are potentially valuable byproducts in the metal mix at
Thunder Bay North Project .
Table 1:
Grade | |||||||||||||
Category | Tonnes | Pt (g/t) | Pd | Au | Ag | Rh | Co | Cu (%) | Ni (%) | PtEq | PdEq | ||
Indicated - | 11,999,177 | 1.48 | 1.40 | 0.07 | 1.32 | 0.04 | 137 | 0.28 | 0.17 | 5.79 | 3.44 | ||
Indicated - | 4,286,220 | 0.92 | 1.18 | 0.12 | 2.45 | 0.06 | 209 | 0.52 | 0.28 | 6.16 | 3.67 | ||
TOTAL INDICATED RESOURCE | 16,285,396 | 1.33 | 1.34 | 0.08 | 1.62 | 0.05 | 156 | 0.34 | 0.20 | 5.89 | 3.50 | ||
Inferred - | 6,406,960 | 0.68 | 0.65 | 0.06 | 0.95 | 0.01 | 123 | 0.30 | 0.14 | 3.40 | 2.02 | ||
Inferred - | 3,445,179 | 0.64 | 0.73 | 0.07 | 1.13 | 0.00 | 173 | 0.33 | 0.18 | 3.75 | 2.23 | ||
TOTAL INFERRED RESOURCE | 9,852,138 | 0.67 | 0.68 | 0.07 | 1.01 | 0.01 | 140 | 0.31 | 0.15 | 3.52 | 2.10 |
Notes: See section "Input Parameters for Resource Calculation" below. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. |
Table 2:
Metal | |||||||||||
Category | Tonnes | Pt (Oz) | Pd (Oz) | Au | Rh (Oz) | Co | Cu | Ni | PtEq | PdEq | |
Indicated - | 11,999,177 | 569,176 | 538,181 | 26,121 | 508,434 | 16,998 | 1,649 | 33,751 | 20,969 | 2,233,575 | 1,328,789 |
Indicated - | 4,286,220 | 127,090 | 162,337 | 16,928 | 337,946 | 8,009 | 896 | 22,390 | 12,016 | 849,481 | 505,369 |
TOTAL INDICATED RESOURCE | 16,285,396 | 696,266 | 700,517 | 43,050 | 846,380 | 25,008 | 2,544 | 56,141 | 32,985 | 3,083,056 | 1,834,158 |
Inferred - | 6,406,960 | 140,400 | 133,333 | 12,888 | 195,484 | 1,836 | 785 | 19,155 | 9,113 | 700,621 | 416,810 |
Inferred - | 3,445,179 | 70,520 | 80,989 | 7,754 | 124,809 | 71 | 595 | 11,293 | 6,046 | 414,932 | 246,850 |
TOTAL INFERRED RESOURCE | 9,852,138 | 210,919 | 214,322 | 20,642 | 320,293 | 1,907 | 1,380 | 30,449 | 15,159 | 1,115,553 | 663,660 |
Notes: See section "Input Parameters for Resource Calculation" below. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. |
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Executive Comments
Table 3: Current
Grade | ||||||||||||
Category | Area | Tonnes | Pt | Pd | Au | Ag | Rh | Co | Cu | Ni | PtEq | PdEq |
Indicated - | Upper Current | 1,089,212 | 1.60 | 1.50 | 0.08 | 1.72 | 0.07 | 148 | 0.35 | 0.20 | 6.50 | 3.87 |
Current | 1,534,911 | 2.10 | 1.96 | 0.11 | 2.25 | 0.05 | 142 | 0.41 | 0.21 | 7.97 | 4.74 | |
Bridge | 3,355,050 | 1.72 | 1.67 | 0.08 | 1.49 | 0.05 | 130 | 0.35 | 0.17 | 6.67 | 3.97 | |
Beaver | 4,481,507 | 1.23 | 1.14 | 0.05 | 1.00 | 0.03 | 139 | 0.20 | 0.16 | 4.82 | 2.87 | |
Cloud | 1,538,497 | 0.93 | 0.89 | 0.04 | 0.66 | 0.04 | 136 | 0.17 | 0.16 | 4.00 | 2.38 | |
437-SE | 0 | - | - | - | - | - | - | - | - | - | - | |
TOTAL INDICATED RESOURCE | 11,999,177 | 1.48 | 1.40 | 0.07 | 1.32 | 0.04 | 137 | 0.28 | 0.17 | 5.79 | 3.44 | |
Inferred - | Upper Current | 0 | - | - | - | - | - | - | - | - | - | - |
Current | 0 | - | - | - | - | - | - | - | - | - | - | |
Bridge | 0 | - | - | - | - | - | - | - | - | - | - | |
Beaver | 1,735,331 | 0.80 | 0.75 | 0.05 | 0.79 | 0.02 | 146 | 0.20 | 0.18 | 3.72 | 2.21 | |
Cloud | 0 | - | - | - | - | - | - | - | - | - | - | |
437-SE | 4,671,629 | 0.64 | 0.61 | 0.07 | 1.01 | 0.01 | 114 | 0.34 | 0.13 | 3.28 | 1.95 | |
TOTAL INFERRED RESOURCE | 6,406,960 | 0.68 | 0.65 | 0.06 | 0.95 | 0.01 | 123 | 0.30 | 0.14 | 3.40 | 2.02 |
Notes: See section "Input Parameters for Resource Calculation" below. |
Table 4: Current
Metal | ||||||||||||
Category | Area | Tonnes | Pt | Pd | Au | Ag | Rh | Co | Cu | Ni | PtEq | PdEq |
Indicated - | Upper Current | 1,089,212 | 56,185 | 52,487 | 2,692 | 60,154 | 2,342 | 161 | 3,800 | 2,150 | 227,801 | 135,523 |
Current | 1,534,911 | 103,563 | 96,875 | 5,220 | 111,114 | 2,677 | 218 | 6,328 | 3,259 | 393,310 | 233,986 | |
Bridge | 3,355,050 | 185,255 | 179,929 | 8,702 | 160,257 | 5,079 | 436 | 11,851 | 5,832 | 720,020 | 428,351 | |
Beaver | 4,481,507 | 177,932 | 164,879 | 7,292 | 144,294 | 4,842 | 625 | 9,168 | 7,343 | 694,657 | 413,262 | |
Cloud | 1,538,497 | 46,241 | 44,010 | 2,216 | 32,615 | 2,058 | 209 | 2,604 | 2,385 | 197,787 | 117,667 | |
437-SE | 0 | - | - | - | - | - | - | - | - | - | - | |
TOTAL INDICATED RESOURCE | 11,999,177 | 569,176 | 538,181 | 26,121 | 508,434 | 16,998 | 1,649 | 33,751 | 20,969 | 2,233,575 | 1,328,789 | |
Inferred - | Upper Current | 0 | - | - | - | - | - | - | - | - | - | - |
Current | 0 | - | - | - | - | - | - | - | - | - | - | |
Bridge | 0 | - | - | - | - | - | - | - | - | - | - | |
Beaver | 1,735,331 | 44,527 | 41,708 | 2,718 | 44,020 | 1,031 | 253 | 3,446 | 3,203 | 207,495 | 123,442 | |
Cloud | 0 | - | - | - | - | - | - | - | - | - | - | |
437-SE | 4,671,629 | 95,873 | 91,625 | 10,170 | 151,464 | 806 | 533 | 15,709 | 5,910 | 493,125 | 293,368 | |
TOTAL INFERRED RESOURCE | 6,406,960 | 140,400 | 133,333 | 12,888 | 195,484 | 1,836 | 785 | 19,155 | 9,113 | 700,621 | 416,810 |
Notes: See section "Input Parameters for Resource Calculation" below. |
Table 5: Escape
Grade | ||||||||||||||
Category | Area | Tonnes | Pt | Pd | Au | Ag | Rh | Co | Cu | Ni | PtEq | PdEq | ||
Indicated - | Steepledge North | 135,650 | 0.71 | 0.81 | 0.06 | 1.28 | 0.01 | 157 | 0.28 | 0.18 | 3.87 | 2.30 | ||
Steepledge South | 45,180 | 0.87 | 1.02 | 0.05 | 1.14 | 0.00 | 141 | 0.28 | 0.17 | 4.25 | 2.53 | |||
Escape South Perimeter | 1,754,080 | 0.48 | 0.58 | 0.08 | 1.45 | 0.03 | 176 | 0.37 | 0.21 | 3.78 | 2.26 | |||
2,351,310 | 1.27 | 1.65 | 0.16 | 3.29 | 0.08 | 238 | 0.66 | 0.34 | 8.11 | 4.82 | ||||
TOTAL INDICATED RESOURCE | 4,286,220 | 0.92 | 1.18 | 0.12 | 2.45 | 0.06 | 208.95 | 0.52 | 0.28 | 6.16 | 3.67 | |||
Inferred - | Steepledge North | 148,609 | 0.44 | 0.52 | 0.05 | 0.53 | 0.00 | 150 | 0.26 | 0.21 | 3.14 | 1.87 | ||
Steepledge South | 2,287,589 | 0.74 | 0.84 | 0.07 | 1.15 | 0.00 | 173 | 0.32 | 0.16 | 3.96 | 2.36 | |||
Escape South Perimeter | 915,422 | 0.43 | 0.53 | 0.08 | 1.13 | 0.00 | 173 | 0.35 | 0.19 | 3.35 | 1.99 | |||
93,559 | 0.43 | 0.34 | 0.09 | 1.45 | 0.01 | 191 | 0.38 | 0.20 | 3.29 | 1.96 | ||||
TOTAL INFERRED RESOURCE | 3,445,179 | 0.64 | 0.73 | 0.07 | 1.13 | 0.00 | 173 | 0.33 | 0.18 | 3.75 | 2.23 |
Notes: See section "Input Parameters for Resource Calculation" below. |
Table 6: Escape
Metal | ||||||||||||
Category | Area | Tonnes | Pt | Pd | Au | Ag | Rh | Co | Cu | Ni | PtEq | PdEq |
Indicated - | Steepledge North | 135,650 | 3,087 | 3,545 | 266 | 5,577 | 43 | 21 | 383 | 238 | 16,897 | 10,053 |
Steepledge South | 45,180 | 1,258 | 1,485 | 79 | 1,653 | 0 | 6 | 125 | 76 | 6,175 | 3,673 | |
Escape South Perimeter | 1,754,080 | 27,083 | 32,687 | 4,689 | 81,633 | 1,970 | 308 | 6,458 | 3,617 | 213,401 | 127,264 | |
2,351,310 | 95,662 | 124,619 | 11,894 | 249,083 | 5,996 | 560 | 15,424 | 8,085 | 613,007 | 364,380 | ||
TOTAL INDICATED RESOURCE | 4,286,220 | 127,090 | 162,337 | 16,928 | 337,946 | 8,009 | 896 | 22,390 | 12,016 | 849,481 | 505,369 | |
Inferred - | Steepledge North | 148,609 | 2,119 | 2,462 | 255 | 2,508 | 0 | 22 | 394 | 309 | 14,985 | 8,915 |
Steepledge South | 2,287,589 | 54,498 | 61,920 | 4,869 | 84,680 | 0 | 396 | 7,321 | 3,771 | 291,351 | 173,329 | |
Escape South Perimeter | 915,422 | 12,884 | 15,314 | 2,353 | 33,246 | 42 | 158 | 3,226 | 1,775 | 98,690 | 58,709 | |
93,559 | 1,019 | 1,293 | 276 | 4,375 | 29 | 18 | 353 | 190 | 9,905 | 5,896 | ||
TOTAL INFERRED RESOURCE | 3,445,179 | 70,520 | 80,989 | 7,754 | 124,809 | 71 | 595 | 11,293 | 6,046 | 414,932 | 246,849 |
Notes: See section "Input Parameters for Resource Calculation" below. |
2021 Exploration Update
A 2021 drill program on the initial resource at the Escape Lake Deposit will commence immediately with two drills, expanding the Escape
A third drill, commencing in Q2, 2021 will mobilize to the Current
Social Engagement
Input Parameters for Resource Calculation
Mining Cutoff Grade
The cutoff value used for the mineral resource is
- Direct mining operating cost for underground mining of CA$35.88/tonne mill feed, consisting of the weighted average; 75% longhole open stope mining CA$30.45/tonne mill feed and 25% drift and fill mining CA$52.19/tonne mill feed,
Onsite milling and tailings management facility operating cost of CA$18.00/tonne mill feed,- Total indirect operating cost and G&A cost of CA$13.03/tonne mill feed.
Table 7: Contained Metals Parameters of Mineral Resource Cutoff Grade Calculations
Parameter | Pd | Pt | Ag | Au | Cu | Ni | Co | Rh |
Onsite Mill Metal Recoveries | 75.00% | 75.00% | 50.00% | 50.00% | 90.00% | 90.00% | 90.00% | 75.00% |
Offsite Smelting Metal Recoveries | 85.00% | 85.00% | 85.00% | 85.00% | 85.00% | 90.00% | 50.00% | 85.00% |
Smelter Payable Percentages | 98.00% | 98.00% | 85.00% | 97.00% | 100.00% | 100.00% | 100.00% | 98.00% |
Note: Values taken from Panoramic Resources "AMEC Technical Report dated 6 October 2010". |
Geological Domaining
Nordmin examined and modelled the mineralization within the
Domain wireframes were modelled for seven grade elements, including combined Platinum ("Pt") and Palladium ("Pd"), Gold ("Au"), Silver ("Ag"), Copper ("Cu"), Nickel ("Ni"), Cobalt ("Co"), and Rhodium ("Rh"). Each domain was built using geology, mineralization, and grade bin for a combination of Background grade ("BG"), Low Grade ("LG"), Medium Grade ("MG"), and High Grade ("HG"). Background grades were isolated through applying the overall conduit wireframe. The criteria include:
Current
- Platinum and Palladium: Platinum and Palladium grades were summed and the resulting total used to model with the following criteria: BG Pt+Pt < 2 g/t, LG Pt+Pt 2 g/t to 6 g/t, MG Pt+Pd 6 g/t to 12 g/t, HG Pt+Pd > 12 g/t
- Gold: BG Au < 0.25 g/t, HG Au > 0.25 g/t
- Silver: BG Ag < 5 g/t, HG Ag > 5 g/t
- Copper: BG: < 1% Cu, LG 1% to 2% Cu, MG 2% to 4% Cu, HG > 4% Cu
- Nickel BG < 0.25% Ni, LG 0.25% to 0.5% Ni, MG 0.5% to 1% Ni, HG > 1% Ni
- Cobalt: BG Co < 250 g/t, LG Co 250 g/t to 500 g/t, HG Co > 500 g/t
- Rhodium: BG Rh < 0.25 g/t, LG Rh 0.25 g/t to 0.5 g/t, MG Rh 0.5 to 1.0 g/t, HG Rh > 1.0 g/t
Escape
- Platinum and Palladium: Platinum and Palladium grades were summed and the resulting total used to model with the following criteria: BG Pt+Pt < 2 g/t, LG Pt+Pt 2 to 6 g/t, MG Pt+Pd 6 to 12 g/t, HG Pt+Pd > 12 g/t
- Gold: BG Au < 0.25 g/t, HG Au > 0.25 g/t
- Silver: BG Ag < 2.5 g/t, LG Ag 2.5 g/t to 5 g/t, HG Ag > 5 g/t
- Copper: BG: < 1% Cu, LG 1% to 2% Cu, HG > 2% Cu
- Nickel BG < 0.25% Ni, LG 0.25% to 0.5% Ni, MG 0.5% to 1% Ni, HG > 1% Ni
- Cobalt: BG Co < 250 g/t, LG Co 250 g/t to 500 g/t, HG Co > 500 g/t
- Rhodium: BG Rh < 0.25 g/t, LG Rh 0.25 g/t to 0.5 g/t, MG Rh 0.5 g/t to 1.0 g/t, HG Rh > 1.0 g/t
Wireframes were initially created on 10 m to 20 m plan sections and adjusted on vertical section views to edit and smooth each wireframe where required. When not cut off by drilling, the wireframes terminate at the contact of the conduit or due to lack of drilling, whichever was most appropriate. No wireframe overlapping exists within a given domain, but all domains are independent of each other.
The use of explicit modelling allows for mineralization in context with the deposit geology and associated geochemistry to be considered. It is Nordmin's opinion that the explicit modelling approach minimizes risks compared to using implicit modelling for each deposit.
Compositing
Compositing of samples is a technique used to give each sample a relatively equal length to reduce the potential for bias due to uneven sample lengths; it prevents the potential loss of sample data and reduces the potential for grade bias due to the possible creation of short and potentially high-grade composites that are generally formed along the zone contacts when using a fixed length.
The raw sample data was found to have a relatively narrow range of sample lengths. Samples captured within all zones were composited to 1.0 m regular intervals based on the observed modal distribution of sample lengths, which supports a 5.0 m x 5.0 m x 5.0 m block model (with sub-blocking). An option to use a slightly variable composite length was chosen to allow for backstitching shorter composites that are located along the edges of the composited interval. All composite samples were generated within each mineral lens with no overlaps along boundaries. The composite samples were validated statistically to ensure there was no loss of data or change to the mean grade of each sample population.
Block Model Resource Estimation
A "soft boundary" was used for the application of composites for all mineralized domains except for the background domains, as follows:
- Background Grade: Selected composites include only background domain composites.
- Low Grade: Selected composites included background and low-grade domain composites.
- Medium Grade (where applicable): Selected composites included medium and low-grade domain composites.
- High Grade (where applicable): Selected composites included high grade and medium grade domain composites.
A series of upfront test modelling was completed to define an estimation methodology to meet the following criteria:
- Representative of the deposit geology and structural models.
- Accounts for the variability of grade, orientation, and continuity of mineralization.
- Controls the smoothing (grade spreading) of grades and the influence of outliers.
- Accounts for most of the mineralization.
- Is robust and repeatable within the mineral domains.
- Supports multiple domains.
Multiple test scenarios were evaluated to determine the optimum processes and parameters to use to achieve the stated criteria. Each scenario was based on Natural Neighbour (NN), Inverse Distance Squared (ID2), Inverse Distance Cubed (ID3), and Ordinary Kriging (OK) spatial interpolation and weighted averaging methods.
All test scenarios were evaluated based on global statistical comparisons, visual comparisons of composite samples versus block grades, and the assessment of overall smoothing. Based on results of the testing, it was determined that the final resource estimation methodology would constrain the mineralization by using hard wireframe boundaries to control the spread of high to grade and low to grade mineralization. OK was selected as the best representative interpolation method.
Equivalency
Equivalency formulas were calculated and used for reporting purposes. The derivation of the equivalency formulas is based on accepted industry practices. All equivalencies are reported as in-situ grades and are calculated using the trailing average commodity price deck referenced in Table 8.
Platinum equivalency ("Pt Eq") and Palladium Equivalency ("Pd Eq") was calculated for each deposit through the following formulas, using components from platinum ("Pt"), palladium ("Pd"), gold ("Au"), silver ("Ag"), copper ("Cu"), nickel ("Ni"), cobalt ("Co"), and rhodium ("Rh"):
Notes:
- All percentage grades referenced in the formulas for Cu and Ni are numeral percentage rather than decimal percentages (i.e., 2% is 2.0, not 0.02).
- 0.06857 is used for troy ounce and pound conversion.
- 2204 is used for tonne and pound conversion.
- 10,000 is used to convert from numerical percentage to grams.
Additional
- The Independent and Qualified Person responsible for the Mineral Resource Estimate is
Glen Kuntz ,P.Geo . ofNordmin Engineering Ltd. ,Thunder Bay, Ontario , and the effective date of the estimate isJanuary 18, 2021 . - CIM Definition Standards on Mineral Resources and Reserves were used for the
Thunder Bay North Project mineral resource estimate. - 3-year trailing average prices were used for all calculations with the exception of cobalt which used a 2-year trailing average price as itemized in Table 8.
- Resource excludes all material immediately below
Current Lake , above a minimum crown pillar thickness of 20m which is assumed to be not recoverable by underground methods. - Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.
- Minor variations may occur during the addition of rounded numbers.
- Calculations used metric units (meters (m), tonnes (t) and grams/tonne (g/t).
Table 8: Commodity Prices Used in Resource Calculation
Commodity | Units | Assumption |
Palladium | per oz | |
Platinum | per oz | |
Silver | per oz | |
Gold | per oz | |
Copper | per lbs | |
Nickel | per lbs | |
Cobalt | per tonne | |
Rhodium | per oz |
Note: 3-year trailing average except Cobalt is 2-year trailing average. |
Qualified Persons
The Mineral Resource estimate was independently prepared under the supervision of Mr.
About
ON BEHALF OF THE BOARD OF DIRECTORS
"Abraham Drost"
For further information, please contact:
Phone: 807-252-7800
Email: adrost@cleanairmetals.ca
Website: www.cleanairmetals.ca
Neither the
Cautionary Note
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation, including statements regarding the potential of the
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