Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE:
5D32) (the “Company” or “Group Ten”) announces results
from the Iron Mountain target area on the east side of the
Stillwater West PGE-Ni-Cu Project, adjacent to Sibanye-Stillwater’s
high-grade Platinum Group Element (“PGE”) mines in Montana, USA.
This is the fourth in a series of planned news releases to report
results of 2018 exploration programs and on-going data synthesis
and modeling work at the Company’s flagship project. Highlights
include:
- Past shallow drilling at the HGR target includes 8.0
meters of 3.65 g/t platinum, palladium and gold, plus 0.16%
combined nickel and copper and 0.013% cobalt for 4.46 g/t total
platinum equivalent (“TotPtEq”) or 1.08% total nickel equivalent
(“TotNiEq”), starting at surface. Mineralization in this
interval is directly comparable to the observed grades on Platreef
deposits in the Bushveld Complex of South Africa at Anglo
American’s Mogalakwena Mine and Ivanhoe’s Platreef Mine, in a
similar geological setting;
- Deeper drilling in the 1970s at the HGR target returned long
intervals of nickel-copper sulphide mineralization - which were not
sampled at the time for other metals including PGEs - intercepting
259.1 meters grading 0.25% Ni and 0.20% Cu (0.35% TotNiEq
or 1.44 g/t TotPtEq), starting at 15.2 meters depth and
ending in mineralization, including 26.8 meters at 0.98% Ni
and 0.45% Cu (1.21% TotNiEq or 4.96 g/t TotPtEq)
in Hole 355-64;
- Re-sampling of core from 1970s drill holes at the HGR target
reports palladium values from intercepts of significant
nickel-copper sulphide mineralization ranging up to 2.7 g/t
in Hole 355-64. Additional drilling is required to better
define the content of PGEs and other target commodities at the HGR
target;
- 2018 and historic rock samples returned high-grade results with
17 samples over 2 g/t PGE plus gold, ranging up to 95.8 g/t
platinum, palladium, and rhodium (27.8 g/t Pt, 62.2 g/t Pd, 5.78
g/t Rh) at the HGR target.
- Past drilling at the HGR target defines an approximately 750
meter by 400 meter area within a larger area defined by coincident
geophysical (conductive high) and geochemical soil anomalies that
appears to connect with similar anomalies at the Iron Mountain
Central target about one kilometer to the west. The HGR target is
open for expansion in all directions, including to the east in the
direction of an adjacent kilometer-scale geophysical conductive
high anomaly that remains untested, and to the west along the
layered stratigraphy of the Stillwater Complex towards the Iron
Mountain Central target; and
- Results confirm that the geophysical conductive highs are
targeting high-sulphide mineralization, and that the scale of the
conductive anomalies is comparable to deposits at Platreef. The
Iron Mountain target area is a priority for follow-up work in 2019
based on the potential to rapidly expand known mineralized
zones.
Michael Rowley, President and CEO, commented,
"The Iron Mountain target includes some of the most compelling
examples to date of the potential we see across the
25-kilometer-long Stillwater West Project, with multiple long
intervals of nickel and copper sulphide mineralization including
thick intercepts enriched in platinum, palladium, cobalt, gold, and
rhodium. Drill data compiled and modeled by Group Ten report
33 intervals with over 50 gram-meter Total Platinum
Equivalent (TotPtEq) grade-thickness, and 13 with
over 100 gram-meter TotPtEq, in the Iron Mountain target
area, with many holes beginning and ending in mineralization.
“Shallow, more recent drill holes show grades
comparable to deposits at Platreef over significant widths,
including multi-gram per tonne platinum, palladium, and gold, along
with nickel, copper and cobalt values, starting at surface. Deeper
drilling from the 1970s demonstrates wide intervals of nickel and
copper sulphide mineralization with associated PGEs that were
previously only selectively sampled. Taken together, the drilling
and surface sampling at the Iron Mountain target area demonstrate
the presence of Platreef-style grade with potential bulk tonnage
scale at Stillwater West. Drill-defined mineralization at the HGR
and Central targets is open for expansion in all directions,
including to the east towards a geophysical conductor that has
never been drill tested, and to the west following the magmatic
layers of the Stillwater Complex.
“The Iron Mountain target area, along with the
Chrome Mountain and Camp Zone target areas, is a top priority for
work in 2019 as we see the potential to rapidly expand known
mineralization and quickly advance targets to resource delineation
stage. We look forward to reporting further updates in the very
near future.”
Figure 1 – Cross-Section Through the
Stillwater Igneous Complex Showing the Layered
Stratigraphy and Known Deposits
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/d948c803-a326-4956-ae43-42e260bf5d9c
Iron Mountain Overview
The 2018 exploration program, the Company’s
first at Stillwater West, focused on exploration of the lower
Stillwater Complex (Figure 1) where Group Ten sees the potential
for much larger mineralized systems than has been previously
recognized in the district based on work to date and known
geological similarities between the Stillwater Igneous Complex and
the Bushveld Igneous Complex in South Africa. The northern limb of
the Bushveld, a region known as the Platreef, has seen rapid
development as a world leader in low-cost platinum and palladium
supply since the 1990s with the discovery and development of Anglo
American’s Mogalakwena PGE-Ni-Cu Mine, and Ivanhoe’s Platreef
PGE-Ni-Cu mine that is now construction.
Group Ten is targeting a “Platreef-style”
setting in which bulk-tonnage sulphide mineralization in the Lower
Stillwater Complex may be associated with interaction between the
layered 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. The potential for
this setting at Iron Mountain is supported by deep conductive
geophysical targets at the two most advanced targets, being the
Iron Mountain Central and HGR targets. A series of deeper drill
holes at the HGR target demonstrate further potential by drilling
through iron formation, in what had been interpreted as basement
country rocks, before returning to mineralized layered ultramafic
rocks below (see cross-section in Figure 8).
As shown in Figure 2, the approximately
2.9-kilometer-wide Iron Mountain target area is one of eight major
target areas identified by Group Ten as having potential for large
PGE-Ni-Cu Platreef-style deposits 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. The presence of
significant nickel and copper sulphide mineralization corresponding
to, and associated with, the electromagnetic conductors within
these target areas is confirmed in historic drill results compiled
by the Company. Assay data is less comprehensive for other
elements, although thick intervals enriched in platinum, palladium,
gold, cobalt and chromium are demonstrated in target areas where
data exists. No systematic drill test of the conductive high
geophysical anomalies has been conducted to date in the Iron
Mountain target area (see Figure 3).
Figure 2 – Fourteen Target Areas Across
the 25-Kilometer Length of the Stillwater West Project
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/2713671e-1124-42c6-8922-6dd9960cd05e
The potential for significant PGE-Ni-Cu deposits
is further strengthened by the correlation of the conductive
geophysical targets with highly elevated levels of platinum,
palladium, gold, nickel, copper, and chromium in soils and rock
sampling across much of the Stillwater West Project. Soil
geochemistry results for the Iron Mountain target area are
presented in Figures 4 and 5.
Tables 1 and 2 summarize data from 46 drill
holes within the Iron Mountain target area which demonstrate strong
mineralization with 13 drill holes returning intercepts of
greater than 100 gram-meter TotPtEq grade-thickness (or 24
percent-meter TotNiEq). Grade-thickness values are based
solely on nickel and copper data in six of those holes, including
Hole 355-64 which was drilled in 1976 at the HGR target and
returned an exceptional 371.8 gram-meter TotPtEq (or 90.7
percent-meter TotNiEq). Grade-thickness values, determined
as grade x thickness, of 25 gram-meter or more are considered
economically significant, and values of 100 to 300 gram-meter are
considered exceptional. Grade-thickness values at the adjacent J-M
Reef mines average approximately 34 gram-meter palladium and
platinum1.
Rock sample results from the Iron Mountain
target area confirm the presence of significant platinum,
palladium, nickel, copper and cobalt mineralization with 17 samples
over 2 g/t PGE plus gold - and four over 10 g/t PGE plus gold -
ranging to 95.8 g/t combined platinum, palladium, and
rhodium in one sample at the HGR target (Table 3). In
addition, test work indicates a consistent ratio of rhodium content
relative to platinum values, with 13 samples returning
rhodium results of 0.47 g/t or higher. Rhodium
values have not been included in the calculation of metal
equivalents in the tables above and below.
HGR Target
The HGR target is the most advanced within the
Iron Mountain target area, with 21 drill holes returning
over 25 gram-meter TotPtEq grade-thickness within an
approximately 750 meter by 400 meter area within a larger area
defined by coincident geophysical (conductive high) and geochemical
soil anomalies that is open in all directions and appear to connect
with similar anomalies at the Iron Mountain Central target (see
Figures 3 to 5). Mineralized intervals range from 26.7 to
259.1 meters across these holes at grades ranging from
0.12% to 1.43% combined nickel and copper, with an
average length of 94 meters at 0.2 6% combined nickel and
copper. Assay data for other commodities are limited as
the older, deeper holes were generally assayed only selectively for
nickel and copper, although subsequent PGE assays were completed on
select intervals. Shallower, more recent holes provide complete
assay data.
Ten AMAX drill holes from the 1970s intersected
significant intervals of nickel and copper sulphide mineralization
near the Basal contact of the Stillwater Complex, including Hole
355-59 which returned 33.5 meters of 0.77% Ni and 0.65%
Cu. Hole 355-64, drilled approximately 160 meters south of
355-59, returned 26.8 meters of 0.98% Ni and 0.45%
Cu within a broader interval of 259.1 meters of
0.25% Ni and 0.20% Cu that starts at 15.2 meters depth and
ends in mineralization (see Table 1 and cross-section in Figure 8).
Although AMAX did not systematically analyze for PGEs, subsequent
work reported values ranging up to 2.7 g/t Pd in
Hole 355-64. Based on the observed ratio of platinum to palladium
in drill core with complete assay results in the HGR target area,
total PGE values are projected to range be approximately 4 g/t for
this sample.
Eighteen more recent holes provide valuable
confirmation of the PGE potential of the HGR target by reporting
complete assay data including 8.0 meters of 3.65 g/t 3E and
0.14% Ni, 0.03% Cu and 0.013% Co starting at surface in
Hole IM2002-07, an 84.5-meter hole drilled in 2002 about 110 meters
from 355-64. Hole IM2002-07 is also about 60 meters from Hole
355-62, which returned 220.8 meters of 0.16% Ni and 0.03%
Cu.
The PGE potential of the HGR target area is
further confirmed by Hole IM2002-12 which returned 4.1
meters of 3.09 g/t PGE+Au plus 0.14% Ni, 0.02% Cu, and 0.009%
Co.
The HGR target area is a priority for work in
2019 as it demonstrates the widest and highest-grade mineralization
intercepted to date at Stillwater West, with grades that are
directly comparable to the Platreef. HGR shows excellent potential
to advance quickly to resource delineation stage with further
drilling at known mineralized zones that are open at depth and
along strike, where Group Ten is targeting areas to the east and
west, outside of the core HGR target area as defined by drilling to
date. To the east, the Company is targeting a kilometer-scale
conductive high anomaly identified in a subsequent geophysical
survey that remains untested (see Figure 3).
The area west of the HGR target area also
remains untested and is highly prospective with rock sample results
of up to 27.8 g/t platinum, 62.2 g/t palladium, and 5.78
g/t rhodium in one sample taken about 400 meters west of
the HGR target, towards the Iron Mountain Central target. Geologic
compilation and mapping by Group Ten, as summarized in Figure 6,
demonstrates that the layered magmatic stratigraphy of the
Stillwater Complex runs laterally through both target areas,
potentially connecting the high-grade results within specific
layers at both targets and highlighting the potential of the area
in between, which has not been drill tested.
Iron Mountain Central
Target
Work to date at the Iron Mountain Central target
centers on three drill holes with over 100 gram-meter
TotPtEq grade-thickness in long intervals of platinum,
palladium, gold, and cobalt in nickel and copper sulphide
mineralization: IM2007-01 returned 226.2 meters at
226.1 gram-meter TotPtEq; IM2007-02 returned 123.5
meters at 130.1 gram-meter TotPtEq; and IM2007-03 returned
124.4 meters at 127.0 gram-meter TotPtEq (see
Table 1). Consistent cobalt values of 0.013% to 0.016% are shown
across these intervals, adding potentially significant co-product
value.
The Iron Mountain Central target is open for
expansion to the east towards the HGR target where an area
approximately one kilometer by 640 meters returned highly elevated
platinum, palladium and gold levels in soil that are coincident
with a geophysical conductive high anomaly that remains untested
(Figures 3 and 4). A much larger nickel and copper in soil anomaly
is also shown across the area, following the broader Peridotite
Zone (Figure 5). In addition, geological mapping and modeling work
by Group Ten has targeted specific layers of the stratigraphy
within the complex for high-grade mineralization based on known
results at both Iron Mountain Central target and the HGR target to
the east, generating compelling targets on the intervening
ground.
Intrusive Dunite Targets
Geologic mapping by the Company in 2018
identified multiple intrusive dunites across the Stillwater West
Project, including the Iron Mountain target area (see Figures 3 to
6). Intrusive dunites formed the first mines in South Africa’s
Bushveld Igneous Complex and were known for their spectacular PGE
grades, along with other commodities. No systematic exploration has
been completed for intrusive dunites at in the Stillwater Complex,
although occurrences have been noted in past geophysical and
geological sampling surveys. Follow up of these targets is a
priority for Group Ten based on their potential for both grade and
size.
Table 1 – Drill Results, HGR Target at Iron
Mountain |
|
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-18 |
79.2 |
125.0 |
45.7 |
n/a |
n/a |
n/a |
n/a |
0.25 |
0.17 |
n/a |
0.33 |
1.38 |
0.33 |
62.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-53 |
64.0 |
155.4 |
91.4 |
n/a |
n/a |
n/a |
n/a |
0.07 |
0.12 |
n/a |
0.13 |
0.54 |
0.13 |
49.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-59 |
171.6 |
205.1 |
33.5 |
n/a |
n/a |
n/a |
n/a |
0.77 |
0.65 |
n/a |
1.10 |
4.53 |
1.10 |
151.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-61 |
194.2 |
254.8 |
60.7 |
n/a |
n/a |
n/a |
n/a |
0.11 |
0.11 |
n/a |
0.16 |
0.66 |
0.16 |
40.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-62 |
15.2 |
236.1 |
220.8 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.03 |
n/a |
0.17 |
0.72 |
0.17 |
158.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-63 |
2.4 |
170.1 |
167.6 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.06 |
n/a |
0.19 |
0.79 |
0.19 |
132.3 |
355-63 |
76.2 |
150.0 |
73.8 |
n/a |
n/a |
n/a |
n/a |
0.26 |
0.09 |
n/a |
0.30 |
1.24 |
0.30 |
91.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-64 |
15.2 |
274.3 |
259.1 |
n/a |
n/a |
n/a |
n/a |
0.25 |
0.20 |
n/a |
0.35 |
1.44 |
0.35 |
371.8 |
including |
152.4 |
265.2 |
112.8 |
n/a |
n/a |
n/a |
n/a |
0.39 |
0.41 |
n/a |
0.59 |
2.44 |
0.59 |
275.4 |
including |
207.9 |
234.7 |
26.8 |
n/a |
n/a |
n/a |
n/a |
0.98 |
0.45 |
n/a |
1.21 |
4.96 |
1.21 |
133.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-66 |
4.6 |
141.4 |
136.9 |
n/a |
n/a |
n/a |
n/a |
0.14 |
0.35 |
n/a |
0.31 |
1.28 |
0.31 |
175.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-67 |
143.3 |
173.7 |
30.5 |
n/a |
n/a |
n/a |
n/a |
0.22 |
0.22 |
n/a |
0.33 |
1.35 |
0.33 |
41.1 |
and |
185.9 |
238.1 |
52.1 |
n/a |
n/a |
n/a |
n/a |
0.30 |
0.28 |
n/a |
0.44 |
1.82 |
0.44 |
94.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-68 |
182.9 |
243.8 |
61.0 |
n/a |
n/a |
n/a |
n/a |
0.23 |
0.14 |
n/a |
0.30 |
1.24 |
0.30 |
75.4 |
including |
198.1 |
207.3 |
9.1 |
n/a |
n/a |
n/a |
n/a |
0.63 |
0.19 |
n/a |
0.72 |
2.98 |
0.72 |
27.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-70 |
15.2 |
210.3 |
195.1 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.11 |
n/a |
0.21 |
0.87 |
0.21 |
169.9 |
including |
182.9 |
210.3 |
27.4 |
n/a |
n/a |
n/a |
n/a |
0.26 |
0.39 |
n/a |
0.46 |
1.89 |
0.46 |
52.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-01 |
0.0 |
26.7 |
26.7 |
0.08 |
0.12 |
0.01 |
0.22 |
0.15 |
0.04 |
0.013 |
0.21 |
1.10 |
0.27 |
29.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-02 |
0.0 |
50.3 |
50.3 |
0.05 |
0.06 |
0.01 |
0.12 |
0.12 |
0.03 |
0.012 |
0.17 |
0.84 |
0.20 |
42.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-03 |
0.0 |
78.3 |
78.3 |
0.04 |
0.06 |
0.01 |
0.11 |
0.10 |
0.03 |
0.010 |
0.15 |
0.74 |
0.18 |
58.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-04 |
0.0 |
91.4 |
91.4 |
0.10 |
0.14 |
0.01 |
0.25 |
0.13 |
0.03 |
0.013 |
0.18 |
1.01 |
0.24 |
92.1 |
including |
0.0 |
18.6 |
18.6 |
0.21 |
0.45 |
0.03 |
0.68 |
0.16 |
0.04 |
0.013 |
0.23 |
1.62 |
0.39 |
30.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-05 |
0.0 |
45.7 |
45.7 |
0.09 |
0.15 |
0.01 |
0.24 |
0.12 |
0.03 |
0.011 |
0.17 |
0.96 |
0.23 |
43.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-06 |
0.0 |
68.9 |
68.9 |
0.06 |
0.09 |
0.01 |
0.17 |
0.12 |
0.03 |
0.012 |
0.18 |
0.90 |
0.22 |
62.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-07 |
0.0 |
84.5 |
84.5 |
0.16 |
0.27 |
0.01 |
0.44 |
0.12 |
0.02 |
0.013 |
0.18 |
1.17 |
0.28 |
98.8 |
including |
0.0 |
8.0 |
8.0 |
1.24 |
2.35 |
0.06 |
3.65 |
0.14 |
0.03 |
0.013 |
0.19 |
4.46 |
1.08 |
35.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-08 |
0.0 |
96.6 |
96.6 |
0.09 |
0.18 |
0.02 |
0.29 |
0.13 |
0.05 |
0.015 |
0.21 |
1.15 |
0.28 |
111.3 |
including |
8.6 |
22.0 |
13.4 |
0.28 |
0.63 |
0.04 |
0.95 |
0.19 |
0.05 |
0.023 |
0.30 |
2.17 |
0.53 |
29.0 |
including |
9.2 |
11.0 |
1.7 |
1.18 |
2.58 |
0.13 |
3.90 |
0.28 |
0.07 |
0.030 |
0.41 |
5.63 |
1.37 |
9.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-09 |
0.0 |
76.2 |
76.2 |
0.08 |
0.13 |
0.01 |
0.22 |
0.14 |
0.02 |
0.013 |
0.19 |
1.00 |
0.24 |
76.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-10 |
0.0 |
91.4 |
91.4 |
0.06 |
0.08 |
0.01 |
0.16 |
0.13 |
0.04 |
0.012 |
0.18 |
0.91 |
0.22 |
83.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-11 |
0.0 |
89.6 |
89.6 |
0.05 |
0.09 |
0.02 |
0.16 |
0.13 |
0.04 |
0.012 |
0.19 |
0.94 |
0.23 |
84.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-12 |
11.3 |
93.4 |
82.1 |
0.13 |
0.32 |
0.02 |
0.47 |
0.12 |
0.03 |
0.010 |
0.17 |
1.18 |
0.29 |
96.7 |
including |
51.2 |
86.8 |
35.7 |
0.27 |
0.70 |
0.05 |
1.02 |
0.16 |
0.05 |
0.011 |
0.22 |
1.93 |
0.47 |
68.8 |
including |
59.9 |
71.1 |
11.1 |
0.45 |
1.04 |
0.05 |
1.54 |
0.15 |
0.03 |
0.011 |
0.20 |
2.39 |
0.58 |
26.6 |
including |
65.5 |
69.7 |
4.1 |
0.92 |
2.12 |
0.05 |
3.09 |
0.14 |
0.02 |
0.009 |
0.19 |
3.87 |
0.94 |
16.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-13 |
0.0 |
78.4 |
78.4 |
0.06 |
0.11 |
0.01 |
0.18 |
0.14 |
0.05 |
0.016 |
0.22 |
1.07 |
0.26 |
84.2 |
including |
22.7 |
67.4 |
44.8 |
0.07 |
0.15 |
0.02 |
0.24 |
0.16 |
0.07 |
0.020 |
0.26 |
1.30 |
0.32 |
58.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2002-14 |
0.0 |
103.7 |
103.7 |
0.06 |
0.09 |
0.01 |
0.17 |
0.13 |
0.02 |
0.012 |
0.18 |
0.91 |
0.22 |
94.6 |
including |
18.6 |
45.5 |
26.9 |
0.15 |
0.23 |
0.02 |
0.41 |
0.13 |
0.02 |
0.012 |
0.18 |
1.16 |
0.28 |
31.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-08 |
50.9 |
114.9 |
64.0 |
0.01 |
0.01 |
0.00 |
0.02 |
0.13 |
0.00 |
n/a |
0.13 |
0.56 |
0.14 |
35.8 |
and |
219.5 |
269.7 |
50.2 |
0.01 |
0.01 |
0.00 |
0.02 |
0.13 |
0.00 |
n/a |
0.13 |
0.56 |
0.14 |
28.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-09 |
20.7 |
201.2 |
180.4 |
0.01 |
0.01 |
0.01 |
0.02 |
0.14 |
0.01 |
n/a |
0.14 |
0.60 |
0.15 |
108.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-10 |
111.0 |
166.4 |
55.5 |
0.01 |
0.01 |
0.00 |
0.02 |
0.12 |
0.00 |
n/a |
0.12 |
0.51 |
0.12 |
28.4 |
and |
246.3 |
312.1 |
65.8 |
0.01 |
0.01 |
0.00 |
0.01 |
0.13 |
0.00 |
n/a |
0.13 |
0.57 |
0.14 |
37.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-11 |
27.4 |
81.1 |
53.7 |
0.03 |
0.02 |
0.01 |
0.06 |
0.13 |
0.02 |
n/a |
0.14 |
0.64 |
0.15 |
34.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table 2 – Drill Results, Iron Mountain
Central Target
|
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2007-01 |
31.7 |
111.0 |
79.3 |
0.05 |
0.14 |
0.01 |
0.20 |
0.09 |
0.02 |
0.010 |
0.14 |
0.76 |
0.18 |
60.1 |
and |
62.2 |
95.1 |
32.9 |
0.07 |
0.23 |
0.02 |
0.31 |
0.11 |
0.04 |
0.011 |
0.17 |
1.00 |
0.24 |
33.0 |
and |
121.9 |
348.1 |
226.2 |
0.06 |
0.12 |
0.03 |
0.22 |
0.12 |
0.04 |
0.013 |
0.19 |
1.00 |
0.24 |
226.1 |
including |
171.9 |
201.8 |
29.9 |
0.10 |
0.16 |
0.10 |
0.36 |
0.14 |
0.07 |
0.015 |
0.23 |
1.33 |
0.32 |
39.7 |
including |
262.7 |
293.8 |
31.1 |
0.07 |
0.14 |
0.02 |
0.23 |
0.15 |
0.05 |
0.015 |
0.23 |
1.17 |
0.28 |
36.3 |
including |
312.1 |
348.1 |
36.0 |
0.11 |
0.26 |
0.04 |
0.41 |
0.17 |
0.06 |
0.016 |
0.25 |
1.45 |
0.35 |
52.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2007-02 |
16.5 |
56.7 |
40.2 |
0.02 |
0.03 |
0.00 |
0.06 |
0.11 |
0.00 |
0.012 |
0.15 |
0.66 |
0.16 |
26.4 |
and |
78.3 |
201.8 |
123.5 |
0.07 |
0.15 |
0.02 |
0.23 |
0.12 |
0.05 |
0.016 |
0.20 |
1.05 |
0.26 |
130.1 |
including |
108.5 |
128.0 |
19.5 |
0.10 |
0.23 |
0.02 |
0.34 |
0.15 |
0.07 |
0.017 |
0.24 |
1.33 |
0.32 |
26.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2007-03 |
0.0 |
124.4 |
124.4 |
0.07 |
0.18 |
0.02 |
0.27 |
0.12 |
0.04 |
0.013 |
0.18 |
1.02 |
0.25 |
127.0 |
including |
48.8 |
100.6 |
51.8 |
0.12 |
0.29 |
0.02 |
0.44 |
0.15 |
0.06 |
0.015 |
0.23 |
1.40 |
0.34 |
72.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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. Total nickel equivalent
grade-thickness was determined by multiplying the thickness (in
meters) by the Total Nickel Equivalent grade (in percent) to
provide percent-meter values as shown. IM series drill holes were
conducted by Group Ten’s QP and are not considered historic. 355
series drill are considered historic and have not been
independently verified by Group Ten.
Table 3 – Rock Sample Results, Iron
Mountain
|
PRECIOUS METALS |
BASE METALS |
TOTAL METAL EQUIVALENTS |
|
OTHER METALS* |
SAMPLE ID |
Pt |
Pd |
Au |
3E |
Ni |
Cu |
Co |
NiEq |
TotPtEq |
TotNiEq |
|
Rh |
|
(g/t) |
(g/t) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(%) |
(Pt g/t) |
(Ni %) |
|
(g/t) |
|
|
|
|
|
|
|
|
|
|
|
|
|
CW090499-9 |
27.80 |
62.20 |
n/a |
90.00 |
0.087 |
0.031 |
0.003 |
0.112 |
90.46 |
21.99 |
|
5.78 |
107 |
6.82 |
6.86 |
0.03 |
13.71 |
0.043 |
0.009 |
0.003 |
0.056 |
13.95 |
3.39 |
|
1.31 |
CW092499-1 |
4.54 |
7.34 |
n/a |
11.88 |
0.079 |
0.008 |
0.004 |
0.097 |
12.28 |
2.98 |
|
0.93 |
IM-78-13 |
0.21 |
11.73 |
n/a |
11.94 |
n/a |
n/a |
n/a |
n/a |
11.94 |
2.90 |
|
n/a |
CW090499-8 |
2.24 |
4.48 |
n/a |
6.72 |
0.143 |
0.062 |
0.004 |
0.188 |
7.49 |
1.82 |
|
0.47 |
CW092499-3 |
3.11 |
3.67 |
n/a |
6.78 |
0.050 |
0.007 |
0.003 |
0.061 |
7.03 |
1.71 |
|
0.75 |
CW092499-6 |
2.05 |
4.23 |
n/a |
6.28 |
0.039 |
0.008 |
0.002 |
0.050 |
6.49 |
1.58 |
|
0.37 |
7269 |
2.16 |
1.97 |
0.02 |
4.15 |
0.112 |
0.009 |
0.024 |
0.197 |
4.96 |
1.21 |
|
n/a |
14 |
0.78 |
2.55 |
0.27 |
3.60 |
0.181 |
0.058 |
0.011 |
0.247 |
4.69 |
1.14 |
|
0.09 |
3190405 |
2.06 |
1.65 |
0.06 |
3.77 |
0.099 |
0.018 |
0.018 |
0.168 |
4.48 |
1.09 |
|
n/a |
205 |
1.54 |
1.98 |
0.11 |
3.63 |
0.088 |
0.040 |
0.005 |
0.125 |
4.17 |
1.01 |
|
0.28 |
1500 |
0.00 |
0.00 |
2.50 |
2.50 |
0.000 |
0.001 |
0.068 |
0.228 |
4.07 |
0.99 |
|
0.30 |
207 |
1.53 |
1.44 |
0.08 |
3.05 |
0.035 |
0.020 |
0.002 |
0.053 |
3.29 |
0.80 |
|
0.25 |
CW092499-8 |
1.56 |
1.18 |
n/a |
2.74 |
0.090 |
0.002 |
0.007 |
0.115 |
3.21 |
0.78 |
|
0.37 |
203 |
0.98 |
1.50 |
0.05 |
2.52 |
0.121 |
0.025 |
0.008 |
0.160 |
3.19 |
0.77 |
|
0.22 |
1565 |
1.06 |
1.01 |
0.02 |
2.08 |
0.000 |
0.001 |
0.069 |
0.232 |
3.04 |
0.74 |
|
0.10 |
CW090999-1 |
0.93 |
1.87 |
n/a |
2.80 |
0.028 |
0.008 |
0.002 |
0.040 |
2.96 |
0.72 |
|
0.47 |
CW090999-8 |
0.93 |
0.93 |
n/a |
1.87 |
0.064 |
0.000 |
0.025 |
0.148 |
2.48 |
0.60 |
|
0.47 |
1523 |
0.36 |
1.58 |
0.01 |
1.94 |
0.000 |
0.001 |
0.035 |
0.118 |
2.43 |
0.59 |
|
0.10 |
CW090999-12 |
0.93 |
0.93 |
n/a |
1.87 |
0.095 |
0.002 |
0.008 |
0.122 |
2.37 |
0.58 |
|
0.47 |
CW090999-9 |
0.93 |
0.93 |
n/a |
1.87 |
0.070 |
0.001 |
0.007 |
0.093 |
2.25 |
0.55 |
|
0.47 |
CW090999-2 |
0.93 |
0.93 |
n/a |
1.87 |
0.064 |
0.001 |
0.004 |
0.076 |
2.18 |
0.53 |
|
0.47 |
CW090999-7 |
0.93 |
0.93 |
n/a |
1.87 |
0.034 |
0.003 |
0.003 |
0.044 |
2.05 |
0.50 |
|
0.47 |
CW090999-6 |
0.93 |
0.93 |
n/a |
1.87 |
0.032 |
0.000 |
0.003 |
0.042 |
2.04 |
0.50 |
|
0.47 |
CW090999-4 |
0.93 |
0.93 |
n/a |
1.87 |
0.028 |
0.011 |
0.001 |
0.038 |
2.02 |
0.49 |
|
0.47 |
1076 |
0.05 |
0.01 |
0.00 |
0.06 |
0.002 |
0.000 |
0.143 |
0.477 |
2.02 |
0.49 |
|
0.10 |
1521 |
0.80 |
0.67 |
0.00 |
1.47 |
0.000 |
0.001 |
0.040 |
0.132 |
2.01 |
0.49 |
|
0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
Cliff Target
Reconnaissance geological sampling and mapping
by Group Ten in 2018 identified a zone of distinctive
mineralization located near the upper contact of the Ultramafic
Series, which is comprised of pegmatoidal magmatic rocks with
visible sulphides. This stratigraphic package has been traced on
the surface across at least 300 meters of strike length and remains
open. Limited sampling from the Cliff target returned consistently
anomalous PGE, nickel, copper, and cobalt mineralization in 2018
field work. Follow up prospecting and mapping work is planned for
2019, with particular focus on highly elevated levels of metals
shown in soil anomalies immediately to the east (see Figures 4 and
5).
Reef-Type Targets
The Company is also targeting higher-grade PGE
reef-type mineralization which has been documented in the Iron
Mountain target area. The layered magmatic stratigraphy of the
Stillwater West Project allows Group Ten to target both reef-type
PGE-Ni-Cu mineralization in the upper layers and sulfide-hosted
bulk tonnage mineralization in the lower layers, based on the model
developed to date.
Next Steps
Group Ten has completed the initial phase of
data synthesis and modeling work on the priority Chrome Mountain,
Camp Zone, and Iron Mountain target areas, where the Company sees
the potential to expand known drill-defined mineralization in terms
of both scale and grade. Planning is underway for the next phase of
drill testing with the objective of offsetting higher grade
mineralized intercepts which may be rapidly advanced to a resource
delineation stage. Additional synthesis and modelling work is
underway on less advanced areas at Stillwater West. News flow will
be on-going to report on this effort in addition to announcing
exploration plans.
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 and
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 &
DirectorEmail:
info@grouptenmetals.com
Phone: (604) 357 4790Web:
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.
2002-2008 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
Photos accompanying this announcement are available
at
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http://www.globenewswire.com/NewsRoom/AttachmentNg/fb803301-e7b2-4604-877f-7075e682a6a7
http://www.globenewswire.com/NewsRoom/AttachmentNg/2b8a11ad-6e79-4764-b2ee-944eb5203fa4
http://www.globenewswire.com/NewsRoom/AttachmentNg/848e5726-1115-4eec-b133-d753c31acd94
http://www.globenewswire.com/NewsRoom/AttachmentNg/8b28b1a6-cfef-443a-9a69-137e74badd73
Stillwater Critical Mine... (TSXV:PGE)
過去 株価チャート
から 3 2025 まで 4 2025
Stillwater Critical Mine... (TSXV:PGE)
過去 株価チャート
から 4 2024 まで 4 2025