Group Ten Metals Inc. (TSX-V:PGE) (US OTC:PGEZF)
(FSE:5D32)
(the “Company” or “Group Ten”) is
pleased to provide an update on progress at its flagship Stillwater
West PGE-Ni-Cu-Co project, including 2018 exploration plans and the
acquisition of new claims which expand the Company’s land position
in the Stillwater district by over 23% to approximately 54 square
kilometers. Located strategically above and below
Sibanye-Stillwater’s high-grade PGE mines in the layered Stillwater
Igneous Complex, Group Ten controls the second largest land
position in the district. The Company has prioritized exploration
of the lower Stillwater Complex where it sees the potential for
much larger mineralized systems than has been previously recognized
in the district based on geological similarities with the northern
limb of South Africa’s Bushveld Complex, a region which hosts Anglo
American’s world-leading Mogalakwena Mine, and Ivanhoe’s developing
Platreef Mine.
Stillwater West Exploration Plan and
Update
Group Ten is focused on identifying and
advancing the most prospective targets towards resource definition,
and benefits from having an extensive historic database to
accelerate this effort. Work to date has consisted of the
systematic consolidation of the prospective lower Stillwater
Complex stratigraphy and compilation of all available data and
physical samples from past work, which includes geological sampling
and mapping programs, geophysical and geochemical surveys, and data
from more than 215 drill holes totaling over 28,000 meters.
The Company has over 11,000 meters of drill core
from past campaigns. These core samples, plus historic drilling
data from the 1960s and 1970s, provide valuable confirmation of the
presence of significant intervals of platinum group elements (PGE)
with nickel and copper sulphides at the Iron Mountain and Chrome
Mountain target areas, including 6 of the 15 large-scale
geophysical conductor anomalies that are coincident with
highly-elevated levels of metals in soils (see January 10, February
26, and May 8, 2018 news releases). Re-logging of this historic
core has been a top priority and is now largely complete.
Re-assaying for complete multi-element geochemistry and 3D modeling
of this historic drilling are a key part of the Phase One
exploration plan for 2018.
Drill testing of high-priority targets at
Stillwater West will initially focus on areas with coincident
geophysical and geochemical signatures which are associated with
known PGE-Ni-Cu sulphide mineralization. The program is further
expected to build on areas with drill-indicated mineralization,
which could potentially fast-track advancement of the project
towards resource delineation stage with additional work.
The planned Phase One 2018 exploration program
includes:
- Re-logging and re-assaying of all available core for complete
multi-element geochemistry (over 11,000 meters)
- Entry of all core data into the first property-wide 3D geologic
database for modeling and target refinement
- Development of a predictive geologic model to drive future
exploration efforts and follow-up drilling
- Ground-based geological sampling, prospecting and mapping
programs
- Ground-based geophysical programs
- Prioritization of all targets across the 25-kilometer-long
strike length of the project.
The Phase Two 2018 exploration program is
expected to consist of a concise drill hole program designed to
test the highest priority targets in the Iron Mountain and Chrome
Mountain areas, subject to obtaining a 2018 drill permit
(application now in progress). Results from 2018 drilling will be
incorporated into the Company’s developing geologic model and will
assist in the development of future programs.
President and CEO Michael Rowley stated, “The
Stillwater West project continues to advance rapidly, and our work
there continues to support the potential for multiple deposits with
indications of a much larger mineralized system than has been
previously recognized. Our acquisition of additional ground in the
lower Stillwater stratigraphy reflects what we interpret as the
potential setting to host “Platreef-type” deposits similar to the
large-scale high-sulphide PGE-nickel-copper type deposits seen in
the lower Bushveld Complex in South Africa. The team has
planned a two-phased exploration program for 2018 to refine and
prioritize targets in advance of our inaugural drill programs at
site, planned for later in 2018. We look forward to providing
further technical and exploration updates in the coming weeks.”
About Stillwater West
The Stillwater West project is adjacent to
Sibanye-Stillwater’s producing PGE mines in the Stillwater complex
of south-central Montana, a district with a rich mining history
that is world renowned for the size and grade of its mines. The
Stillwater district has produced over 14 million ounces of platinum
and palladium to date1 and is host to the largest PGE deposit
outside of South Africa and Russia2. As a brownfields district with
three operating mines, the area has excellent infrastructure
including highway and grid power.
The Company’s exploration focus at Stillwater
West includes high-grade PGE reef-type deposits in the upper
Stillwater Complex along with the potential for much larger-scale
disseminated and high-sulphide PGE-nickel-copper type deposits in
the basal series of the complex, similar to the setting for the
Platreef deposits of the northern limb of the lower Bushveld
Complex. Large-scale targets identified by Group Ten through
geophysics and surface sampling present the opportunity for major
new discoveries in this iconic mining district guided by a
management team with extensive experience in exploration and
development of PGE-nickel-copper systems.
Note 1: Public production records from
Stillwater Mining Company 1992 to present.
Note 2: 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.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a Canadian mineral
exploration company focused on the development of high-quality
platinum, palladium, nickel, copper and gold exploration assets in
North America. The Company’s holdings include the Stillwater West
PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade Pd-Pt
mines in Montana, the Kluane Ni-Cu-PGE project adjacent to Nickel
Creek Platinum‘s Wellgreen deposit in the Yukon Territory, and the
Black Lake-Drayton Gold project in the Rainy River district of
northwest Ontario.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
Michael
Rowley, President, CEO & Director |
Email:
info@grouptenmetals.com |
Phone: (604) 357
4790 |
Web:
http://grouptenmetals.com |
Toll Free: (888) 432
0075 |
Quality Control and Quality
Assurance
Mr. Mike Ostenson, P.Geo., is the qualified
person 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
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, title,
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.
Stillwater Critical Mine... (TSXV:PGE)
過去 株価チャート
から 2 2025 まで 3 2025
Stillwater Critical Mine... (TSXV:PGE)
過去 株価チャート
から 3 2024 まで 3 2025