- Clean Air Metals (TSXV:AIR) has engaged a second drill rig at its Thunder Bay North Project in Northwest Ontario
- The company will use the second rig to speed up its phase one drilling timeframe, sending the rig to drill the northern extension of the Escape Lake target
- The first rig on the site has already returned assays of 1.66 parts per million platinum, 2.17 parts per million palladium, 0.8 per cent copper and 0.41 per cent nickel over 78.9 metres
- The company funded the second rig through an oversubscribed placement, which it recently closed at C$6.7 million
- Clean Air Metals (AIR) is up 3.28 per cent and is trading at 32 cents per share
Clean Air Metals (TSXV:AIR) has engaged a second drill rig at its Thunder Bay North Project in Northwest Ontario.
The second drill will assist the first drill in defining the extensions of the Escape Lake target on the property. The company has dialled up a total of 20,000 metres of drilling over two phases.
The first drill will continue to test the south extension of the Escape Lake target. The work involves step out drilling testing the lateral extension of the target.
The second drill will test the northern extension of Escape Lake and will speed up the drilling schedule and complete phase one as early as possible.
The company recently had results from the first core assays, returning results as high as 78.9 metres of strike grading at 1.66 parts per million platinum, 2.17 parts per million palladium, 0.8 per cent copper and 0.41 per cent nickel.
CEO of Clean Air Metals, Abraham Drost said the addition of a second drill at Escape Lake is a welcome result of the company's recent oversubscribed C$6.7 million flowthrough financing.
"The second drill will help the company to increase the pace of exploration on phase one testing of the Escape Lake intrusion mineralised zone, transitioning to phaser two testing of an interpreted strike extension of the mineralised magna conduit to the north and south," he said.
The drilling work will be subject to strict COVID-19 mitigation strategies, as the company does not want the disastrous scenario of a work stoppage due to an outbreak at the project.
The company has, therefore, cancelled plans for an exploration camp on the site and has hired a local drilling company to conduct the work.
Clean Air Metals (AIR) is up 3.28 per cent and is trading at 32 cents per share at 12:10 pm EDT.