Slowdown in financing affords opportunity for Thunder Bay mining company to gain ground – by Ian Ross (Northern Ontario Business – January 31, 2024)

Clean Air Metals on the hunt for ‘distressed’ mineral projects in northwestern Ontario

It’s a lousy financing environment in junior mining, but Thunder Bay’s Clean Air Metals sees a strategic opportunity to go big. The owners and mine developers of the Thunder Bay North palladium-platinum project are out to enlarge its mineral holdings and are scanning the North for acquisition targets and partnership deals.

Northwestern Ontario is the place to be, the company said in a recent news release. Given the significant nickel, copper and palladium group metals showings, it “remains one of the best places in the world to explore for this suite of metals.”

Prices for critical minerals remain depressed despite the anticipated global need for these minerals for the green energy transition. These tough markets to fund critical minerals projects prompted the company to put the brakes on exploration at Thunder Bay North last fall, Clean Air’s one and only project, north of the city.

The project is comprised of two parallel deposits of 14 million tonnes containing 1.2 million ounces of platinum group metals, 57.500 tonnes of copper and 34,300 tonnes of nickel. There’s also some gold and silver in the mix.

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