https://www.northernontariobusiness.com/
Clean Air Metals’ Current deposit may be off as much as 50 per cent, company retracts preliminary economic assessment report
Clean Air Metals has suffered a major setback in its plans to develop a mine north of Thunder Bay.
The local junior miner reports there’s been a miscalculation in the mineral resource estimate of one of its two platinum group metal and copper deposits at its Thunder Bay North Project. And the reduction in the amount of metal in the ground could be in the range of 20 to 50 per cent lower than what was originally reported in 2021.
The company revealed in a Feb. 15 news release of an “over-estimation” of the original mineral resource at its Current deposit, which influenced the outcome of a preliminary economic assessment (PEA) to make a case for a mine at Thunder Bay North, 40 kilometres north of the city.
Clean Air said an internal review is underway and an independent engineering firm, SLR Consulting, is diving into the details on what happened before the mining company can reveal the full extent of the mineral reduction.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/ouch-thunder-bay-miners-resource-estimate-just-doesnt-add-up-6566043