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Clean Air Metals Inc. reports developments tied to its 100%-owned Thunder Bay North Critical Minerals Project in Northwestern Ontario. Company news centers on PGE-Cu-Ni exploration and development work, including the Current and Escape deposits, down-plunge drilling, geophysical planning, preliminary economic assessment updates, toll-milling and stand-alone mill concepts, and infrastructure planning for site access and power.
Updates also cover project funding, Ontario exploration support, commodity-market context for platinum, palladium, copper and nickel, interim financial statements and management discussion, and governance changes affecting technical leadership. The company also references engagement with First Nations and Métis communities connected to the Thunder Bay North project area.
Clean Air Metals (OTCQB:CLRMF) released a PEA for the Thunder Bay North PGE-Cu-Ni Project on October 9, 2025, showing a pre-tax NPV8 of C$219.4M and after-tax NPV8 of C$157.5M. The study models an 11-year mine life with 2,500 tpd production, initial CAPEX C$89.5M, and a pre-tax IRR of 39% (after-tax 32%). Operating margin is forecast at 45% and payback is 2.5 years from production start. Updated indicated resource totals 14.9 Mt at 2.66 g/t 2PGE, 0.40% Cu, 0.24% Ni. Spot pricing sensitivity raises pre-tax NPV8 to C$316M and pre-tax IRR to 52%.
Clean Air Metals (OTCQB:CLRMF) has released its financial statements for the six months ended July 31, 2025. The company reported total assets of $36.9 million and cash position of $2.48 million. The company faces a working capital deficiency of $1.02 million, with shareholders' equity at $33.34 million.
During the period, Clean Air Metals invested $620,396 in exploration at the TBN project, focusing on the Escape Deposit. The company initiated a drill program and expects assay results in fiscal Q3. Additionally, work has begun on a Preliminary Economic Assessment (PEA) for Thunder Bay North, which will evaluate toll-milling options and focus on higher margin material from the Current and Escape deposits.
Net loss for the six months decreased to $589,533 compared to $2.29 million in the previous year.Clean Air Metals (OTCQB:CLRMF) has appointed John Mason, D.Sc., P.Geo. as Director of the Company. Mason brings 49 years of experience in mineral exploration and mining in Northern Ontario, with extensive experience in management positions at the Ontario Ministry of Northern Development and Mines and Thunder Bay Community Economic Development Commission.
The company has also granted 500,000 incentive stock options to the new director, exercisable at $0.05 per share for a 5-year period, subject to vesting provisions and regulatory approval.
Clean Air Metals (OTCQB:CLRMF) has announced a significant discovery at its Thunder Bay North project, intersecting over 50 meters of magmatic sulphide mineralization in the Escape ultramafic conduit at 400m depth. The discovery was made through drill hole EL25-001, located 350 meters from the current Escape Deposit limits.
The intersection validates the company's geophysical targeting methodology and opens up 2.5 kilometers of prospective geophysical targets for exploration. The Escape Deposit currently represents about 40% of the project's 14 million tonnes of indicated resources, containing 2.4 million equivalent ounces of platinum.
The company is progressing with a Preliminary Economic Assessment (PEA) and conducting environmental baseline studies for future permitting applications.
Clean Air Metals (OTCQB:CLRMF) held its annual general meeting where shareholders re-elected James Gallagher, Dean Chambers, David Peck, and Mike Garbutt as company directors. The company also reappointed Manning Elliott LLP as its auditor.
Prior to the meeting, the board extended the proxy deposit deadline to 9 a.m. Eastern Time on July 29, 2025, to allow additional shareholders to submit their votes. Additionally, the company granted 2,200,000 incentive stock options to directors, officers, employees, and consultants, exercisable at $0.05 for a 5-year period.
Clean Air Metals (OTCQB:CLRMF) has announced its 2025 summer drilling program at the Thunder Bay North Critical Minerals Project, focusing on testing the Escape Deposit's down-plunge extension. The company will initiate a 900-meter drill hole targeting one of three newly identified 'ballroom-type' coincident magnetic and conductivity anomalies.
The Escape Deposit represents 40% of the total metal content of the project's 14 million tonnes of indicated resources, containing 2.4 million equivalent ounces of platinum. Previous high-grade drilling results showed impressive intersections, including 98.9m grading 1.89g/t Pd, 1.40g/t Pt, 0.69% Cu and 0.35% Ni. The company is also advancing a Preliminary Economic Assessment and increasing baseline environmental monitoring activities.
Clean Air Metals (OTCQB:CLRMF) has released its unaudited consolidated interim financial statements for the three months ended April 30, 2025. The company reported total assets of $37.5 million and cash position of $2.48 million as of April 30, 2025.
During the quarter, the company invested $584,284 in exploration activities at the Thunder Bay North project, focusing on drilling and geophysics at the Current Deposit. The net loss for the period was $223,641, showing improvement from the $863,264 loss in the same period last year. The company maintains a working capital deficiency of $527,130 and shareholders' equity of $33.67 million.
Clean Air Metals (CLRMF) has announced final results from its 2025 winter drilling program at the Thunder Bay North Critical Minerals Project, revealing extensive high-grade mineralization at the Current Deposit. Notable findings include intersections of 16.8m grading 2.95 g/t Pt, 2.89 g/t Pd, and 0.65% Cu, with higher-grade sections including 7.8m of 4.86 g/t Pt, 4.77 g/t Pd, and 1.05% Cu.
The program successfully expanded the near-surface, high-grade zones, with eight out of 13 holes intersecting significant widths averaging over 3 g/t Pt+Pd. The Bridge Zone drilling revealed flat-lying high-grade mineralization, while the Lower Current Zone showed concentrated high-grade mineralization in embayment structures resembling 'ballroom' structures similar to Montana's Stillwater Complex.
Notably, the recent high-grade expansion drilling has only covered approximately 20% of the known strike length of the Current Intrusion, suggesting substantial potential for further expansion of high-grade areas.
Clean Air Metals (CLRMF) has announced significant results from its winter drilling program at the Thunder Bay North Critical Minerals Project. The company reported exceptional intersections, notably 41.0 meters grading 13.2 g/t Pt.eq including 10.0 meters with 1.57% Cu and 22.39 g/t Pt.eq in hole CL25-005.
Key highlights include:
- 41.0m of 4.52 g/t Pt, 4.29 g/t Pd, 0.97% Cu and 0.52% Ni from 110m downhole
- 28.0m section grading 5.75 g/t Pt, 5.37 g/t Pd, 1.18% Cu and 0.61% Ni
- 10.0m section with 7.87 g/t Pt, 7.34 g/t Pd, 1.57% Cu and 0.90% Ni
The newly discovered high-grade zone remains open laterally and at depth, resembling the 'Ballroom' structures of the JM Reef in the Stillwater Complex. Results from seven additional holes are pending.