10/31/2019 | Press release | Distributed by Public on 10/31/2019 12:46
Group Ten Metals Completes Drill Program at Platinum, Palladium and Rhodium-Bearing Targets at its 100%-Owned Stillwater West PGE-Ni-Cu Project in Montana, USA
October 31, 2019
Field work at Stillwater West consisted primarily of the following for 2019:Drilling- Group Ten completed its inaugural diamond drill program at Stillwater West with the objective of expanding known mineralized zones developed in block models based on past drilling in the most advanced target areas and advancing those areas towards delineation of formal mineral resources for platinum, palladium, rhodium and gold, along with nickel, copper and cobalt. The Company is building on data from more than 28,000 meters of prior drilling across the 25-kilometer-wide Project, as well as extensive geophysical and geochemical studies.Prior Drilling- Nearly 12,000 meters of physical core has been re-evaluated in order to apply new geologic models developed in South Africa's Platreef district. Select intervals of this core, where past assay results were not conducted or were completed for select elements only, have been submitted for assay in order to bring these drills holes into the developing resource model. Geological Sampling and Mapping- Ground-based geological sampling and mapping campaigns were completed in less developed targets to advance them towards drill-ready status for future programs.Soil Geochemistry Survey- Sampling of soils from a multi-kilometer area covering the western part of the Project - the Boulder, Wild West, and Chrome Mountain target areas,was completed to extend coverage from earlier surveys completed on the eastern portion. This work is expected to refine existing targets while also providing new targets for work in 2020. Soil geochemistry has been a very effective exploration tool at Stillwater West due to the exposure of the wide mineralized horizons at surface.
Michael Rowley, President and CEO, commented, 'We are pleased to report the successful completion of the field work portion of our 2019 exploration campaign at Stillwater West. Assays are now pending on all drill, rock and soil samples, and work will be ongoing into 2020 to bring those new drill results into an updated block model. We are excited to be driving towards the delineation of a formal mineral resource estimate at the three most advanced multi-kilometer targets with five earlier stage, large-scale targets remaining to be tested. We look forward to providing continued news flow from Stillwater West, plus updates on our other assets, in the coming weeks and months.'
About the Stillwater West Project
The Stillwater West PGE-Ni-Cu project positions Group Ten as the second largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater's world-leading Stillwater, East Boulder, and Blitz platinum group elements (PGE) mines in south central Montana, USA. With more than 41 million ounces of past production and current M&I resources, plus another 49 million ounces of Inferred resources1,2, the Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex, while the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-Ni-Cu type deposits, possibly similar to Platreef in the Bushveld Complex3. Group Ten's Stillwater West Project covers the lower part of the Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The Company's core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon Territory.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director
Email: [email protected]Phone: (604) 357 4790
Web: http://grouptenmetals.comToll Free: (888) 432 0075
Note 1: Report on Montana Platinum Group Metal Mineral Assets of Sibanye-Stillwater, November 2017, Measured and Indicated Resources of 57.2 million tonnes grading 17.0 g/t Pt+Pd containing 31.3 million ounces and 92.5 million tonnes grading 16.6 g/t containing 49.4 million ounces. Grade thickness was determined by applying the reported minimum mining width of 2.0 meters to the M&I grade of 17 g/t Pt+Pd for an average grade-thickness of approximately 34 gram-meter (g-m). Note 2: Public production records from Stillwater Mining Company from 1992 to present.Note 3: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
Quality Control and Quality Assurance
Mr. Mike Ostenson, P.Geo., is the qualified person for the Stillwater West Project for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
Forward Looking Statements: This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, future driling actiivities and the locations of such drilling, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.