Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE:
5D32) (the “Company” or “Group Ten”) announces results
from the Chrome Mountain and East Boulder target areas on the west
side of the Stillwater West Project in Montana, USA. This is the
second in a series of planned news releases to report results of
2018 exploration programs, on-going historical data compilation,
and modeling work at the Company’s flagship PGE-Ni-Cu project
adjacent to Sibanye-Stillwater’s high-grade PGE mines in the
Stillwater Igneous Complex. With more than 41 million ounces of
past production and current M&I resources, plus another 49
million ounces of inferred resources at over 16 g/t palladium and
platinum, the Stillwater Complex is recognized as one of the top
regions in the world for PGE-Ni-Cu mineralization1,2.
Michael Rowley, President and CEO, commented,
"We are pleased to report results of our work to date in the Chrome
Mountain and East Boulder target areas at the middle-west portion
of the 25-km-long Stillwater West project (see Figure 1).
Mineralization including platinum group elements (PGE), nickel,
copper and cobalt at these target areas is associated with two
major electro-magnetic geophysical conductors that are
approximately 2.9 and 2.6 km in length respectively, and correspond
with broad coincident soil and rock geochemical anomalies. The
scale of these targets demonstrates the potential for discovery of
a major new bulk-tonnage “Platreef-style” PGE-Ni-Cu deposit in the
Stillwater Complex, geologically similar to those in the Bushveld
Complex of South Africa.”
“Chrome Mountain, in particular, is one of our
highest priority target areas and has advanced very rapidly with
the discovery of a new style of platinum and palladium
mineralization associated with nickel and copper sulphides at the
Hybrid Zone (see December 17, 2018 news release). This discovery
has attracted significant interest in the Stillwater West project
with wide intervals of platinum, palladium, nickel, copper, and
cobalt mineralization starting at surface, including nine
intervals of over 100 meters in thickness with grade-thickness
values of more than 100 gram-meter Total Platinum Equivalent
(TotPtEq), including six holes which returned composite
mineralization of over 200 meters with grade-thickness values of
200 to 294 gram-meter TotPtEq (see Table 1).
Grade-thickness values of 25 gram-meter or more are considered
economically significant, with the grade-thickness values at the
adjacent J-M Reef mines averaging approximately 34 gram-meter
palladium and platinum1. Values of 100 to 300 gram-meter are
exceptional, highlighting the strength of the Stillwater West
system.”
“Rock sampling programs at Chrome Mountain in
2018 returned up to 16 g/t 3E (8.72
g/t Pt, 7.25 g/t Pd and 0.03 g/t Au) (see Table 2) in
previously unrecognized areas, confirming the underexplored nature
of the lower Stillwater Complex, and the substantial potential for
new discoveries of both higher-grade and bulk tonnage deposits in
this famously metal-rich district.”
Chrome Mountain – Overview
As shown in Figure 1, the Chrome Mountain target
area is one of eight major bulk tonnage target areas identified by
Group Ten Metals across the Ultramafic and Basal Series of the
Stillwater Complex. These target areas are highlighted by strong,
multi-kilometer electro-magnetic conductive signatures that are
characteristic of large bodies of interconnected to strongly
disseminated sulphides. These conductive geophysical targets have
overlapping highly elevated platinum, palladium, gold, nickel,
copper, and chromium values in soils and rock sampling. The limited
drilling completed to date on these large geophysical and
geochemical targets confirms the presence of corresponding
PGE-Ni-Cu mineralization within the 31 holes drilled across the
broad Chrome Mountain target area. In addition, the Company has
obtained most of the core samples drilled on the property since
2001 for re-logging and sampling as part of the ongoing modeling
work, which has allowed the Group Ten team to identify and confirm
the potential for Platreef-style deposits in the Stillwater
Complex.
Figure 1 – 14 Target Areas Across the
25-Kilometer Width of the Stillwater West Project
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/76f412d3-e608-4b20-9643-a6111b4f3c57
The Chrome Mountain target area covers an area
of approximately 2.9 km by 2.3 km that includes bulk tonnage
“Platreef-style” PGE-Ni-Cu targets within the Hybrid Zone (the
Discovery, Dunite Ridge, Bald Hills, and Tarantula Targets), as
well as potential bulk tonnage PGE-enriched Ni and Cu sulphide
mineralization targets within the basal portion of the complex.
Potential also exists for higher-grade PGE “reef-type” targets.
Comprehensive soil geochemical data has been collected across
Chrome Mountain with high levels of PGE, Ni, Cu and Cr in soils
shown across kilometer-scale areas coincident with high level
electro-magnetic conductors shown in geophysical survey results
(see Figures 2, 3 and 4).
Chrome Mountain – Hybrid
Zone
The Hybrid Zone is characterized by broad
intervals of highly anomalous PGE levels associated with chromite
and nickel and copper sulfides with complex pegmatoidal and
magmatic breccia textures in the Ultramafic Series lithologies. The
complexly textured host rocks, together with broadly disseminated
chromite and sulphide, are geologically similar to the Platreef
setting in South Africa’s Bushveld Complex.
Table 1 presents highlight intercepts from ten
holes drilled in the Discovery target where nine separate
intercepts exceeded 100 meters thickness with continuous highly
elevated PGE, Ni, Cu and Co mineralization, starting at surface,
including 118 m at 1.73 g/t TotPtEq (0.36
Pt, 0.56 Pd, and 0.09 Au for 1.0 g/t 3E along with 0.12% Ni, 0.03%
Cu and 0.01% Co for 0.17% NiEq). In addition, six holes
returned composite mineralization of over 200 meters in thickness
that occurs over a strike length of approximately 600 meters which
remains open in all directions and occurs within a broader one
kilometer wide area of highly anomalous metals in soils. These
holes were targeted on highly elevated platinum and palladium
values in soils that characterize the entire Hybrid Zone (see
Figure 3). Along with the untested additional soil targets and
geophysical conductors, these drill results demonstrate the
potential for significant bulk tonnage mineralization at the Chrome
Mountain target area.
Chrome Mountain – Dunite Ridge and Bald
Hills Targets
Several intrusive dunite targets have been
identified in the core of the Hybrid Zone (see cross section CM-6
in Figure 7). Work at Chrome Mountain in 2018 led to the discovery
of the Dunite Ridge and Bald Hill targets where mapping of olivine
chromite-rich intrusive returned chip samples of up to 16.0
g/t 3E (as 8.72 g/t Pt, 7.25 g/t Pd, and 0.03 g/t Au) at
Dunite Ridge. A second sample at Dunite Ridge
returned 7.45 g/t 3E as 2.32 g/t Pt, 5.10 g/t Pd, and 0.02
g/t Au (see Table 2). These samples occur within a highly
elevated PGE, Ni and Cu soil anomaly covering at least 750 meters
of strike. Intrusive dunites can have spectacular grades in the
Bushveld Complex, but have not been systematically explored for in
the Stillwater Complex. The intrusive dunites identified at the
Chrome Mountain target area are one of several occurrences across
the overall Stillwater West Project. Dunite Ridge and Bald Hills
are priority targets for follow-up work in 2019.
| TABLE 1 -
Highlight mineralized drill intercepts from the Chrome Mountain
Target Area |
| |
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|
INTERVAL |
PRECIOUS METALS |
BASE METALS |
TOTAL METAL EQUIVALENTS |
GRADE THICKNESS |
| HOLE
ID |
From |
To |
Width |
Pt |
Pd |
Au |
3E |
Ni |
Cu |
Co |
NiEq |
TotPtEq |
TotNiEq |
Grade x
Width |
|
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(%) |
(Pt g/t) |
(Ni %) |
(gram-meters) |
|
CM2007-01 |
3.1 |
148.1 |
145.1 |
0.24 |
0.21 |
0.01 |
0.46 |
0.07 |
0.01 |
0.009 |
0.10 |
0.89 |
0.22 |
129.5 |
|
including |
7.9 |
25.9 |
18.0 |
0.46 |
0.54 |
0.02 |
1.02 |
0.08 |
0.01 |
0.010 |
0.12 |
1.52 |
0.37 |
27.4 |
|
including |
56.7 |
77.4 |
20.7 |
0.34 |
0.35 |
0.01 |
0.70 |
0.07 |
0.00 |
0.010 |
0.11 |
1.15 |
0.28 |
23.8 |
|
AND |
261.5 |
448.1 |
186.5 |
0.04 |
0.04 |
0.01 |
0.08 |
0.12 |
0.02 |
0.014 |
0.18 |
0.82 |
0.20 |
153.9 |
|
including |
294.4 |
362.7 |
68.3 |
0.07 |
0.07 |
0.02 |
0.17 |
0.16 |
0.04 |
0.016 |
0.24 |
1.15 |
0.28 |
78.5 |
|
including |
305.4 |
334.7 |
29.3 |
0.10 |
0.10 |
0.02 |
0.22 |
0.18 |
0.06 |
0.018 |
0.27 |
1.34 |
0.33 |
39.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-02 |
0.0 |
210.6 |
210.6 |
0.20 |
0.28 |
0.02 |
0.49 |
0.10 |
0.01 |
0.011 |
0.14 |
1.08 |
0.26 |
227.4 |
|
including |
13.4 |
109.4 |
96.0 |
0.37 |
0.56 |
0.03 |
0.96 |
0.12 |
0.02 |
0.012 |
0.17 |
1.65 |
0.40 |
158.5 |
|
including |
38.7 |
68.6 |
29.9 |
0.60 |
1.25 |
0.09 |
1.93 |
0.19 |
0.04 |
0.014 |
0.26 |
3.03 |
0.74 |
90.4 |
|
AND |
300.8 |
387.7 |
86.9 |
0.04 |
0.03 |
0.01 |
0.08 |
0.10 |
0.02 |
0.010 |
0.14 |
0.66 |
0.16 |
57.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-03 |
0.0 |
47.5 |
47.5 |
0.30 |
0.44 |
0.13 |
0.87 |
0.13 |
0.05 |
0.010 |
0.19 |
1.68 |
0.41 |
79.9 |
|
including |
0.0 |
17.7 |
17.7 |
0.33 |
0.42 |
0.16 |
0.92 |
0.14 |
0.06 |
0.011 |
0.21 |
1.82 |
0.44 |
32.1 |
|
including |
23.5 |
41.8 |
18.3 |
0.38 |
0.62 |
0.13 |
1.13 |
0.15 |
0.06 |
0.010 |
0.21 |
2.03 |
0.49 |
37.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-04 |
1.5 |
119.5 |
118.0 |
0.36 |
0.56 |
0.09 |
1.00 |
0.12 |
0.03 |
0.010 |
0.17 |
1.73 |
0.42 |
204.3 |
|
including |
1.5 |
18.9 |
17.4 |
0.40 |
0.52 |
0.15 |
1.06 |
0.12 |
0.04 |
0.010 |
0.17 |
1.81 |
0.44 |
31.5 |
|
including |
33.5 |
51.8 |
18.3 |
0.52 |
0.91 |
0.10 |
1.54 |
0.16 |
0.06 |
0.011 |
0.22 |
2.48 |
0.60 |
45.3 |
|
including |
34.8 |
43.3 |
8.5 |
0.55 |
0.94 |
0.14 |
1.63 |
0.22 |
0.10 |
0.012 |
0.31 |
2.94 |
0.71 |
25.1 |
|
including |
71.3 |
118.3 |
46.9 |
0.45 |
0.71 |
0.11 |
1.27 |
0.13 |
0.04 |
0.011 |
0.18 |
2.04 |
0.50 |
95.9 |
|
AND |
151.2 |
242.6 |
91.4 |
0.21 |
0.21 |
0.02 |
0.44 |
0.12 |
0.02 |
0.012 |
0.17 |
1.15 |
0.28 |
105.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-05 |
1.2 |
239.3 |
238.1 |
0.14 |
0.22 |
0.04 |
0.40 |
0.12 |
0.03 |
0.011 |
0.17 |
1.12 |
0.27 |
267.4 |
|
including |
64.6 |
128.3 |
63.7 |
0.19 |
0.33 |
0.07 |
0.60 |
0.15 |
0.05 |
0.012 |
0.22 |
1.51 |
0.37 |
96.4 |
|
including |
85.3 |
107.6 |
22.3 |
0.26 |
0.41 |
0.10 |
0.77 |
0.18 |
0.07 |
0.012 |
0.25 |
1.84 |
0.45 |
40.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-06 |
0.0 |
128.0 |
128.0 |
0.15 |
0.18 |
0.06 |
0.40 |
0.19 |
0.07 |
0.014 |
0.27 |
1.52 |
0.37 |
194.1 |
|
including |
8.8 |
119.5 |
110.6 |
0.16 |
0.20 |
0.07 |
0.43 |
0.20 |
0.08 |
0.015 |
0.29 |
1.64 |
0.40 |
180.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-07 |
1.5 |
227.1 |
225.6 |
0.15 |
0.32 |
0.05 |
0.52 |
0.13 |
0.04 |
0.011 |
0.19 |
1.30 |
0.32 |
293.2 |
|
including |
42.1 |
55.5 |
13.4 |
0.19 |
0.45 |
0.06 |
0.70 |
0.14 |
0.05 |
0.010 |
0.20 |
1.54 |
0.37 |
20.7 |
|
including |
68.3 |
172.5 |
104.2 |
0.19 |
0.36 |
0.06 |
0.61 |
0.16 |
0.06 |
0.013 |
0.24 |
1.60 |
0.39 |
166.5 |
|
including |
76.2 |
93.3 |
17.1 |
0.22 |
0.34 |
0.06 |
0.62 |
0.16 |
0.04 |
0.015 |
0.23 |
1.60 |
0.39 |
27.2 |
|
including |
121.3 |
137.8 |
16.5 |
0.17 |
0.19 |
0.06 |
0.42 |
0.18 |
0.09 |
0.012 |
0.27 |
1.53 |
0.37 |
25.2 |
|
including |
148.7 |
172.5 |
23.8 |
0.26 |
0.70 |
0.08 |
1.04 |
0.18 |
0.08 |
0.013 |
0.27 |
2.15 |
0.52 |
51.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CM2007-08 |
0.0 |
209.7 |
209.7 |
0.20 |
0.26 |
0.07 |
0.52 |
0.14 |
0.04 |
0.013 |
0.21 |
1.38 |
0.34 |
290.4 |
|
including |
18.3 |
143.9 |
125.6 |
0.27 |
0.38 |
0.10 |
0.75 |
0.16 |
0.05 |
0.013 |
0.23 |
1.72 |
0.42 |
216.6 |
|
including |
52.1 |
75.6 |
23.5 |
0.21 |
0.32 |
0.13 |
0.66 |
0.19 |
0.07 |
0.013 |
0.27 |
1.79 |
0.43 |
41.9 |
|
including |
81.5 |
100.6 |
19.1 |
0.30 |
0.48 |
0.10 |
0.88 |
0.21 |
0.06 |
0.018 |
0.30 |
2.13 |
0.52 |
40.5 |
|
including |
123.1 |
142.7 |
19.5 |
0.54 |
0.78 |
0.07 |
1.39 |
0.14 |
0.04 |
0.013 |
0.20 |
2.23 |
0.54 |
43.6 |
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
CM2007-09 |
3.7 |
22.9 |
19.2 |
0.37 |
0.60 |
0.10 |
1.07 |
0.14 |
0.04 |
0.011 |
0.20 |
1.92 |
0.47 |
36.9 |
|
including |
9.5 |
22.9 |
13.4 |
0.45 |
0.75 |
0.13 |
1.32 |
0.17 |
0.06 |
0.012 |
0.23 |
2.31 |
0.56 |
31.0 |
|
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|
|
|
CM2007-10 |
3.4 |
255.7 |
252.4 |
0.14 |
0.18 |
0.02 |
0.34 |
0.14 |
0.02 |
0.013 |
0.20 |
1.16 |
0.28 |
293.8 |
|
including |
9.5 |
44.8 |
35.4 |
0.39 |
0.58 |
0.06 |
1.04 |
0.15 |
0.05 |
0.012 |
0.22 |
1.94 |
0.47 |
68.6 |
|
including |
92.4 |
108.2 |
15.9 |
0.35 |
0.48 |
0.07 |
0.91 |
0.24 |
0.08 |
0.016 |
0.33 |
2.29 |
0.56 |
36.4 |
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Intercepts with grade thickness values over 25
gram-meter TotPtEq are presented above. Total Platinum Equivalent
(TotPtEq g/t) and Total Nickel Equivalent calculations reflect
total gross metal content using metals prices as follows (all USD):
$6.00/lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt
(Co), $1,000/oz platinum (Pt), $1,000/oz palladium (Pd) and
$1,250/oz gold (Au). Values have not been adjusted to reflect
metallurgical recoveries. Total metal equivalent values include
both base and precious metals, where available. Results labelled
‘n/a’ were not assayed for that metal. Total platinum equivalent
grade thickness was determined by multiplying the thickness (in
meters) by the Total Platinum Equivalent grade (in grams/tonne) to
provide gram-meter values (g-m) as shown. All holes were conducted
by Group Ten’s QP and are not considered historic.
Chrome Mountain - Tarantula
Target
In the eastern area of the Hybrid Zone, work in
2018 identified the Tarantula Target, where highly anomalous PGE
mineralization occurs in the Ultramafic Series. Host rocks are
pegmatoidal bronzitite; disseminated chromite, sulphide and
magmatic breccia textures have been described over an approximate
strike length of at least 500 meters.
Table 2 presents select rock sample results from
reconnaissance prospecting and geological mapping programs at the
Chrome Mountain and East Boulder target areas in 2018 which confirm
the presence of significant platinum, palladium, nickel, copper and
cobalt mineralization with grades up to 3.56 g/t Pd, 0.618%
Ni, and 0.049% Co outside of the Dunite Ridge Target
discussed above (see Table 2). High chromium levels were also noted
with 14 samples returning grades of 10 to 26.8% Cr. In addition,
test work indicates a consistent ratio of rhodium content relative
to platinum values. Neither chromium nor rhodium values have been
included in the calculation of metal equivalents in the tables
above and below.
| TABLE 2 -
Highlight 2018 rock sample results from the Chrome Mountain Target
Area |
| |
|
|
|
|
|
|
|
PRECIOUS METALS |
BASE METALS |
TOTAL METAL EQUIVALENTS |
| SAMPLE
ID |
LOCATION |
Pt |
Pd |
Au |
3E |
Ni |
Cu |
Co |
NiEq |
TotPtEq |
TotNiEq |
|
|
|
(g/t) |
(g/t) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(%) |
(Pt g/t) |
(Ni %) |
|
337388 |
Dunite Ridge |
8.72 |
7.25 |
0.03 |
16.00 |
0.106 |
0.020 |
0.016 |
0.17 |
16.70 |
4.06 |
|
1409950 |
Dunite Ridge |
2.32 |
5.10 |
0.02 |
7.45 |
0.093 |
<0.005 |
0.012 |
0.13 |
8.00 |
1.94 |
|
337391 |
Dunite Ridge |
0.38 |
1.23 |
0.05 |
1.67 |
0.112 |
0.058 |
0.026 |
0.23 |
2.62 |
0.64 |
|
337392 |
Dunite Ridge |
0.41 |
1.00 |
0.08 |
1.49 |
0.157 |
0.056 |
0.019 |
0.25 |
2.53 |
0.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3190364 |
Discovery |
0.99 |
3.56 |
0.06 |
4.61 |
0.084 |
0.000 |
0.011 |
0.12 |
5.12 |
1.24 |
|
3190372 |
Discovery |
1.53 |
2.34 |
0.01 |
3.88 |
0.088 |
0.000 |
0.018 |
0.15 |
4.49 |
1.09 |
|
3190368 |
Discovery |
1.78 |
1.42 |
0.01 |
3.21 |
0.156 |
0.000 |
0.017 |
0.21 |
4.08 |
0.99 |
|
3190351 |
Discovery |
0.87 |
2.15 |
0.06 |
3.09 |
0.139 |
0.019 |
0.019 |
0.21 |
3.97 |
0.97 |
|
3190375 |
Discovery |
0.78 |
2.00 |
0.06 |
2.84 |
0.111 |
0.032 |
0.022 |
0.20 |
3.68 |
0.89 |
|
3190373 |
Discovery |
0.47 |
1.17 |
0.04 |
1.68 |
0.104 |
0.000 |
0.020 |
0.17 |
2.39 |
0.58 |
|
3190362 |
Discovery |
0.28 |
0.80 |
0.15 |
1.23 |
0.193 |
0.083 |
0.009 |
0.26 |
2.35 |
0.57 |
|
3190363 |
Discovery |
0.21 |
0.79 |
0.05 |
1.04 |
0.182 |
0.085 |
0.020 |
0.29 |
2.25 |
0.55 |
|
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|
|
3190461 |
Bald Hills |
1.04 |
1.81 |
0.24 |
3.09 |
0.336 |
0.027 |
0.030 |
0.45 |
5.00 |
1.22 |
|
337378 |
Bald Hills |
0.10 |
0.08 |
0.06 |
0.23 |
0.618 |
0.094 |
0.049 |
0.83 |
3.66 |
0.89 |
|
3190467 |
Bald Hills |
0.97 |
1.47 |
0.10 |
2.53 |
0.170 |
0.000 |
0.021 |
0.24 |
3.54 |
0.86 |
|
3190464 |
Bald Hills |
1.02 |
0.72 |
0.05 |
1.78 |
0.233 |
0.000 |
0.030 |
0.33 |
3.16 |
0.77 |
|
337381 |
Bald Hills |
0.44 |
1.77 |
0.07 |
2.28 |
0.107 |
0.000 |
0.024 |
0.19 |
3.07 |
0.75 |
|
337380 |
Bald Hills |
1.09 |
0.64 |
0.03 |
1.76 |
0.137 |
0.018 |
0.029 |
0.24 |
2.77 |
0.67 |
|
3190394 |
Bald Hills |
1.28 |
0.40 |
0.03 |
1.71 |
0.086 |
0.063 |
0.024 |
0.20 |
2.53 |
0.61 |
|
3190390 |
Bald Hills |
0.72 |
0.62 |
0.17 |
1.50 |
0.050 |
0.034 |
0.017 |
0.12 |
2.05 |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3190471 |
Tarantula |
0.71 |
2.48 |
0.06 |
3.25 |
0.243 |
0.030 |
0.020 |
0.32 |
4.60 |
1.12 |
|
3190397 |
Tarantula |
1.44 |
1.88 |
0.14 |
3.46 |
0.100 |
0.007 |
0.010 |
0.14 |
4.05 |
0.99 |
|
3190306 |
Tarantula |
0.92 |
2.16 |
0.01 |
3.09 |
0.111 |
0.000 |
0.016 |
0.16 |
3.77 |
0.92 |
|
3190376 |
Tarantula |
0.97 |
0.41 |
0.01 |
1.39 |
0.101 |
0.000 |
0.018 |
0.16 |
2.05 |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1409933 |
East Boulder |
0.68 |
2.58 |
0.15 |
3.41 |
0.212 |
0.152 |
0.015 |
0.34 |
4.84 |
1.18 |
|
3190452 |
East Boulder |
0.44 |
1.06 |
0.01 |
1.51 |
0.162 |
0.000 |
0.016 |
0.22 |
2.39 |
0.58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
337365 |
Lindgren |
0.00 |
0.10 |
0.04 |
0.14 |
0.315 |
0.976 |
0.030 |
0.90 |
3.87 |
0.94 |
|
337368 |
Lindgren |
0.03 |
0.21 |
0.08 |
0.32 |
0.342 |
0.054 |
0.034 |
0.48 |
2.32 |
0.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3190389 |
Hybrid Zone |
1.73 |
0.42 |
0.01 |
2.16 |
0.081 |
0.036 |
0.019 |
0.16 |
2.83 |
0.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
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|
Results over 2 g/t TotPtEq are presented above.
Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent
were determined as per Table 1.
Figures 6 and 7 present cross sections
representing the Company’s current understanding of the Hybrid Zone
and surrounding stratigraphy. The Hybrid Zone is open in all
directions, and is a priority target for follow-up in 2019.
Chrome Mountain – Basal Zone
Targets
The Company is also targeting potential
bulk-tonnage sulphide mineralization in the Basal Series of the
complex at Chrome Mountain where mineralization may be associated
with interaction between the layered basal magmatic system and the
basement country rocks. Interaction and assimilation of basement
country rocks is an important component of the Platreef deposits in
the Bushveld Complex, where the country rocks may be in place as
the footwall or occur as large rafts within the layered magmatic
stratigraphy. Kilometer-scale geophysical, geochemical and
geological signatures present compelling bulk-tonnage targets in
this type of setting for PGE-enriched Ni/Cu sulfides in the lower
Stillwater Complex stratigraphy.
The potential for deposits of this type in the
Chrome Mountain area has been confirmed by reconnaissance rock chip
samples and geological mapping work by Group Ten in 2018, as well
as in limited historic drilling, which targeted nickel and copper
sulphides in the Basal and lowest Ultramafic Series. These drill
holes were relatively shallow, and were only selectively assayed
where base metal sulphide levels were high. A few of these
high-sulphide intercepts were assayed for PGEs confirming that the
nickel and copper sulphides in these areas are highly enriched in
PGEs. Notably, this historic drill sampling did not assay areas
enriched in chromite, which typically exhibit higher-grade PGE
mineralization. Data from the 355 series drill holes by AMAX in the
1960s and 1970s, shown on cross sections in Figures 6 and 7,
confirm the presence of net-textured to massive sulphide hosted
mineralization proximal to the strongest electro-magnetic
conductive signatures.
2018 rock sample results from the historic
Lindgren Target in the basal series at Chrome Mountain are
particularly compelling as they confirm the presence of
significant PGE, Ni and Cu mineralization with results of
0.315% Ni, 0.976% Cu, and 0.030% Co (0.94% Ni Eq)
in sample 337365 and 0.342% Ni, 0.054% Cu and 0.034% Co
(0.56% Ni Eq) in sample 337368 (see Table 2). Basal zone
sulphide targets will be a priority for follow-up work in 2019 at
Chrome Mountain.
East Boulder Target Area
As shown in Figure 2, the East Boulder target
area centers on a highly conductive geophysical anomaly with
coincident highly elevated levels of PGE, Ni, Cu and Cr metals in
soils (Figures 3 and 4) covering an area approximately 2.6 km x 1.9
km. The East Boulder target area has less outcrop exposure than the
adjacent Chrome Mountain target area (Figure 5) and, as a result,
remains much less explored despite historic placer mining in the
area. Two drill holes from 2008 confirm the presence of Pt, Pd and
Au mineralization adjacent to the EM conductive high anomaly but
were not tested for base metals.
Work in 2018 included surface mapping and
limited sampling with results up to 3.4 g/t 3E, 0.21% Ni,
and 0.15% Cu (4.84 g/t TotPtEq) (see Table 2) providing
support that similar mineralized stratigraphic horizons continue
into the East Boulder target area.
Future work at the East Boulder target area will
include detailed mapping and rock sampling to develop and refine
drill targets in the area of the electro-magnetic conductors and
coincident soil anomalies.
Amendment to the Catalyst Property
Agreement
Group Ten announces that it has amended the
terms of the agreement for the Catalyst Project within the
Company’s Kluane PGE-Ni-Cu Project in Canada’s Yukon Territory, as
announced on August 16, 2017. The amendment allows the Company to
meet the $10,000 cash payment requirement by the issuance of
200,000 common shares, and is subject to regulatory approval.
Upcoming Events
Group Ten will be exhibiting in the Investor’s
Exchange at booth #3018 at the PDAC convention in March in Toronto,
among other upcoming shows. The Company looks forward to releasing
further results from the adjacent target areas in the coming
weeks.
About Stillwater West
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-nickel-copper
type deposits, possibly similar to Platreef in the Bushveld
Complex3. Group Ten’s Stillwater West property 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.
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.
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 highly prospective Kluane PGE-Ni-Cu project on trend with
Nickel Creek Platinum’s Wellgreen deposit in Canada‘s Yukon
Territory.
About the Metallic Group of
Companies
The Metallic Group is a collaboration of leading
precious and base metals exploration companies, with a portfolio of
large, brownfields assets in established mining districts adjacent
to some of the industry’s highest-grade producers of platinum &
palladium, silver and copper. Member companies include Group Ten
Metals (TSX-V: PGE) in the Stillwater PGM-Ni-Cu district of
Montana, Metallic Minerals (TSX-V: MMG) in the Yukon’s Keno Hill
silver district, and Granite Creek Copper (TSX-V: GCX) in the
Yukon’s Carmacks copper district. The founders and team members of
the Metallic Group include highly successful explorationists
formerly with some of the industry’s leading explorer/developers
and major producers and are undertaking a systematic approach to
exploration using new models and technologies to facilitate
discoveries in these proven historic mining districts. The Metallic
Group is headquartered in Vancouver, BC, Canada and its member
companies are listed on the Toronto Venture, US OTC, and Frankfurt
stock exchanges.
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
2018 rock chip samples were analyzed by Bureau
Veritas Mineral Laboratories in Vancouver, B.C. Samples were
crushed and split, and a 250 g split pulverized with 85% passing
200 mesh. Gold, platinum, and palladium were analyzed by fire
assay (FA350) with ICP finish. Selected major and trace
elements were analyzed by peroxide fusion with ICP-EB finish to
insure complete dissolution of resistate minerals. Following
industry QA/QC standards, blanks, duplicate samples, and certified
standards were also assayed.
2007 drilling was conducted by Group Ten’s QP
while working for Beartooth Platinum. Pre-2001 drill results are
considered historic and have not been independently verified by
Group Ten. 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.
Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/19ab82a2-8538-49c0-a4ab-d53d9560507a
http://www.globenewswire.com/NewsRoom/AttachmentNg/3b1a32c4-124a-49f2-9131-91d308c90693
http://www.globenewswire.com/NewsRoom/AttachmentNg/8bd53d6b-5b65-4b05-b79d-6ec897cd91a3
http://www.globenewswire.com/NewsRoom/AttachmentNg/7500e218-8fb5-4f03-9f58-9ecb52ff8863
http://www.globenewswire.com/NewsRoom/AttachmentNg/f17abd16-0599-4991-b6c7-d6ddb73c1e5f
http://www.globenewswire.com/NewsRoom/AttachmentNg/0812e521-afe4-4be1-944e-d109e1f3db6f
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