This morning, AIR released four drill holes at Escape Lake, including 27.9m of 8.06g/t PtPd and 2.57g/t CuNi. This is the highest grade intercept the Company has seen on Escape Lake to date. Join us as Abraham Drost, CEO, and Jim Gallagher, Executive Chairman, discuss these latest results and how the program is evolving since adding a second rig and expanding to a minimum of 20,000m.
Why we like AIR:
• PGE Asset in Thunder Bay: AIR has a historic estimate of 9.8Mt at 2.3g/t PtEq on its Current Lake Deposit. It acquired the adjacent Escape Lake, where historical results included high-grade intercepts of up to 33.4m at at 7.28 g/t Pt+Pd+Au and 2.26% Cu+Ni.
• Best in Class Management: Abraham Drost, CEO, has lead several successful mining companies including Sabina Gold and Silver, Premier Royalty and Carlisle Goldfields. Executive Chairman Jim Gallagher recently sold North American Palladium to Impala for $1B. VP Exploration, Dawn Evans-Lamswood, was with Voisey's Bay at Archean Resources, at the sale to Diamond Fields and ultimately to Inco (now Vale).
• Well capitalized: The Company completed a $15M financing earlier this year with $2M from Eric Sprott. With the $6.7M flow through financing now closed AIR is in an even stronger position to complete this year’s work programs.
• Steady news flow: Air is currently drilling 20,000m to expand Escape Lake and will look to drill out the conduit system and potential feeder zones upon
• Upside Potential: Management believes that in 12-18 months there is potential for double the resource by validating the historic estimate at Current Lake and drilling out the Escape Lake mineralization. The Beaver Lake deposit, which has showings of 2.6m of 98g PGE and 14.9% Cu, could be the derivative of a prolific source rock which would add additional tonnage to the project.