Jim Gallagher is taking the reigns of Clean Air Metals in Thunder Bay.
The former CEO of North American Palladium and respected mining executive was given the interim CEO tag earlier this month following the announced departure of Abraham Drost.
The executive search is now over as Gallagher holds the permanent title, according to a Monday news release.
The company’s only asset is the Thunder Bay North Critical Minerals Project, north of the city, which is now at the advanced stage of exploration.
Last month, Clean Air posted a revised mineral resource estimate of the two deposit project showing an indicated resource of 14 million tonnes containing 1.2 million ounces of platinum and palladium on a one-to-one ratio, 57,000 tonnes of copper and 34,300 tonnes of nickel.
Exploration drilling continues to enlarge the size of both its Escape and Current deposits.
Gallagher, a mining engineer and experienced executive, was CEO at the nearby North American Palladium’s Lac des Iles Mine in 2015 as it emerged from CCAA protection and improved its operational and financial performance that led to its sale to Impala Platinum in 2019 for just under $1 billion.
Gallagher said in a statement that he was pleased to take the helm.
“The priorities are clear, advance the technical studies for the potential development of the project based on the recently published resource estimate, advance the down plunge exploration program, continue with the appropriate environmental and permitting activities and continue to foster true business relationships with the indigenous communities who's lands, and treaty rights are impacted by our project.”
Gallagher said the company is cashed up for well into 2024. The search is on to find a development partner with the money to bring the property into production.
“The Thunder Bay North resource remains one of the highest-grade, undeveloped platinum, palladium deposits outside of Africa with good copper and nickel values; all sought after critical minerals.”
The company's latest investor presentation shows construction of a mine starting in mid-2025 with operations commencing in late 2026 or early 2027.
Studies on metallurgical recoveries and potential smelter off-take terms are ongoing as well as mine planning, methods and production rates are being evaluated. Environmental studies continue in preparation to make a government permit application.
Clean Air also announced Dean Chambers has been appointed as non-executive board chair, now replacing Gallagher who has resigned as executive chair. Chambers is a professional engineer and financial executive who retired as executive vice president and CFO of Sherritt International Corporation.
