Clean Air Metals Inc. has closed a C$6.2 million non-brokered private placement. This financing is part of a business combination with Springbok Ventures, which will create a new critical minerals company focused on the Thunder Bay North and Maude Lake projects in Ontario.
Clean Air Metals has been approved for up to $200,000 in Ontario Junior Exploration Program (OJEP) funding to advance the Escape target at its Thunder Bay North project. The company also provided an update on project development, including upcoming metallurgical testing and infrastructure planning.
New Age Metals has acquired the Escape East PGM-Ni-Cu Project in Northwestern Ontario through staking. The ~4,000 hectare property is located adjacent to Clean Air Metals' Thunder Bay North Project and near the Lac des Iles Mine.
Transition Metals Corp. reported significant drill results from its Saturday Night PGE Project in Ontario, expanding the known mineralized footprint to approximately 800m by 200m. The drilling, which included an extension of hole SN-25-03-X and two new holes, intersected broad intervals of PGE-Ni-Cu mineralization along the basal contact of a layered intrusion.
Clean Air Metals has outlined its 2026 strategic objectives, focusing on advancing the Thunder Bay North project through metallurgical testing, permitting, and exploration. The company notes a significant uplift in project NPV and IRR due to recent increases in platinum, palladium, and copper spot prices compared to PEA study prices.
Clean Air Metals has filed a Preliminary Economic Assessment (PEA) for the Thunder Bay North PGE-Cu-Ni Project in Ontario. The PEA reports a $219.4M pre-tax NPV and an updated resource including 14.9Mt of indicated PGE-Cu-Ni mineralization.
Transition Metals Corp. has resumed drilling at its 100%-owned Saturday Night PGM Project in Ontario. The program aims to deepen hole SN-25-03 to test the basal contact and target up-dip extensions of mineralization previously intersected in hole SN-25-02.
Clean Air Metals has confirmed a down-plunge extension of the Escape Deposit at its Thunder Bay North Project via hole EL25-001. The drill hole intersected high-tenor PGE-Cu-Ni sulphides, validating the company's geophysical targeting of a 2.5 km magnetic anomaly.
Clean Air Metals announced a Preliminary Economic Assessment (PEA) for its Thunder Bay North Project, outlining an 11-year mine life with a pre-tax NPV of C$219.4 million and an IRR of 39%. The PEA is based on an updated NI 43-101 compliant resource estimate, which includes 14.9 million tonnes of Indicated resources grading 2.66 g/t 2PGE, 0.40% Cu, and 0.24% Ni, plus 2.49 million tonnes of Inferred resources. The project benefits from a low initial capital cost of C$89.5 million and a quick payback period of 2.5 years, with potential for even stronger economics at current spot metal prices.
Clean Air Metals has intersected over 50 metres of magmatic sulphide mineralization in the Escape ultramafic conduit via drill hole EL25-001. This intersection is located approximately 350m from the current limits of the Escape Deposit, suggesting a major down-plunge extension. Assay results are pending.
