(NewsDirect)
Clean Air Metals Inc (TSX-V:AIR,OTCQB:CLRMF) CEO Jim Gallagher shared insights in an interview withProactive's Angela Harmantas at PDAC 2024, highlighting challengesand strategies amidst current market conditions.
Gallagher said the mining industry,particularly the junior market, faces financing difficulties withmetal prices not reacting to critical mineral discussions. However, henoted positive interactions with politicians, suggesting an emergingrecognition of the mining sector's need for incentives.
Despite market lows, Gallagher sees anopportunity, particularly in Northwestern Ontario, for acquiringassets in platinum and palladium deposits. This region is deemedsuperior for exploration compared to South African deposits, which arewell-known but costly due to their depth.
Clean Air Metals' flagship project, Thunder Bay North, inOntario, is a platinum-palladium venture. Over recent years, extensivedrilling has expanded the resource base to 14 million tonnes, with anapproximate 2.5 million combined ounces of platinum and palladium. Thecompany plans a modest exploration program focused on the Escapedeposit's down-plunge areas, previously unexplored beyond 500metres depth. This exploration, supported by strong geophysical data,will commence post-winter.
Gallagher emphasized the importanceof having a skilled technical team for project advancement,highlighting Clean Air Metals' conservative cash management. With$6 million in reserves, the company aims to navigate through themarket's low phase, gradually enhancing project value inanticipation of favorable metal prices.
ContactDetails
Proactive North America
ProactiveNorth America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.