NIA's #2 favorite overall mid-year 2020 pick Clean Air Metals (TSXV: AIR) has just announced the results of four new drill holes! AIR's newly announced drill hole ELR20-004 is by far the best in AIR's history, the best in the history of its Thunder Bay North/Escape Lake Project, and the best we have seen any PGM exploration company report in years!
AIR will be discussing its drilling results in a major conference call scheduled for TOMORROW at 1PM EDT! Click here to register for the conference call!
AIR's drill hole ELR20-004 made three separate intercepts totaling 65.7m. One of these intercepts stood out as having the highest grades of palladium equivalent (based on current metals prices) that we have ever seen reported by a Canadian PGM explorer! AIR intercepted an astonishing 8.81 g/t palladium equivalent over 32.9m! Prior to this, the highest grade intercept at Escape Lake over a length of at least 30m was discovered by Rio Tinto in 2012 when their drill hole 12CL0009 intercepted 8.35 g/t palladium equivalent over 33.4m!
What makes AIR's drill hole ELR20-004 many times more exceptional is the fact that it also intercepted an additional 4.02 g/t palladium equivalent over 24.5m plus it also intercepted 3.18 g/t palladium equivalent over 8.3m! All together, AIR's drill hole ELR20-004 intercepted 65.7m of mineralization averaging 6.31 g/t palladium equivalent!
When researching a gold exploration company and analyzing its drilling results, we like to multiply each drill hole's grades X length to determine its "grammeters". We consider a drill hole with 25 grammeters of gold or higher to be economically significant. We consider a drill hole with between 100 and 300 grammeters of gold to be exceptional. A drill hole with over 300 grammeters of gold is off the charts and extremely rare. Typically, when a gold explorer intercepts over 300 grammeters of gold from a single drill hole you will see its share price rise 50% or more in a single day!
AIR's drill hole ELR-20-004 intercepted 414.613 grammeters of palladium equivalent, which is equal to 469.566 grammeters of gold equivalent! In comparison, Rio Tinto's 2012 Escape Lake drill hole 12CL0009 intercepted 279.03 grammeters of palladium equivalent, which was equal to 316 grammeters of gold equivalent. AIR's drill hole ELR-20-004 is 48.59% better than Rio Tinto's best Escape Lake drill hole!
Remember, Rio Tinto considered their 2012 intercept to be so HUGE that they kept it secret for many years while trying to secure ownership of the surrounding Thunder Bay North project, which was owned by an Australian-based gold miner. AIR's largest shareholder and NIA's #1 favorite overall mid-year 2020 pick Benton Resources (TSXV: BEX) was the first company to find out about Rio Tinto's HUGE high-grade palladium/platinum discovery at Escape Lake... and negotiated the deals that allowed AIR to consolidate the two projects!
In our opinion, BEX and AIR are about to explode to new all-time highs in the upcoming days!
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