Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE:
5D32) (the “Company” or “Group Ten”) announces results
from the Crescent and Cathedral target areas 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 fifth news release 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 Crescent target area includes
4.3 meters of 2.94 g/t platinum, palladium and gold, plus
0.24% combined nickel and copper in drill hole IM2006-02, starting
at 28.3 meters depth. Mineralization in this interval is
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 historic drilling approximately 700 meters east of
IM2006-02 includes hole CC2 which intercepted 8.9 meters of
0.39% nickel and 0.12% copper, with no precious metals
analysis;
- A total of ten past drill holes returned additional long
mineralized intercepts, with a total of 15 intervals
reporting greater than 25 gram-meter (g-m) grade
thickness, ranging from 25.6 to 194.7 meters in length at
base metal grades that are comparable to, or exceed, those of the
Platreef;
- Historic drilling at the Cathedral target area includes drill
hole IC01 which intercepted 6.2 meters of 0.15% nickel and
0.33% copper, with no precious metals analysis;
- 2018 and historic rock samples returned high-grade results with
12 samples over 2 g/t Total Platinum Equivalent (“TotPtEq”)
in the Crescent target area, and 22 at
Cathedral. A total of 9 samples returned over 5
g/t platinum, palladium and gold, with base metals ranging up to
0.39% nickel and 0.12% cobalt;
- Sibanye-Stillwater controls a small block of claims in the
Crescent area that host a historic resource of approximately
260,000 ounces grading 2.39 ppm Pt+Pd1 along trend
in the same conductive magmatic target, demonstrating the potential
for that target area to host significant PGE mineralization at
grades comparable to Platreef deposits;
- Results confirm that the airborne geophysical conductive highs
are targeting high-sulphide mineralization at both the Crescent and
Cathedral target areas. Further, the scale of the conductive
anomalies, at 3.9 kilometers each, is equivalent to the scale of
individual Platreef deposits in the Bushveld Complex.
Michael Rowley, President and CEO, commented,
"Even in the less-explored Crescent and Cathedral target areas we
continue to see correlating geophysical and geological data that
confirms the potential for large-scale PGE-Ni-Cu-Co mineralization
within the Ultramafic and Banded Series along the 25 kilometer
strike of the project. Work to date demonstrates the presence of
Platreef-style grade in these two target areas within conductive
high anomalies that, at nearly four kilometers each in size, show
the potential for bulk tonnage scale. Like our other target areas
at Stillwater West, the strongest conductive anomalies have only
seen limited drilling to date, and the identified mineralization is
open for expansion in all directions. We look forward to further
announcements including our exploration plans for 2019 in the very
near future.”
Crescent and Cathedral are the two easternmost
target areas of eight bulk tonnage targets identified in the
synthesis and modeling work by Group Ten Metals (see Figure 1),
centering on geophysical conductive high anomalies with
mineralization confirmed by drill and rock sample results.
Figure 1 – Fourteen Target Areas Across
the 25-Kilometer Length of the Stillwater West Project
Figure 1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6dfaf860-a91d-4693-b090-5a125575dce7
Crescent Target Area
As shown in Table 1 and Figures 2 and 3, ten
shallow drill holes define an area approximately 250 meters by 500
meters on the western portion of the target area in which all holes
returned significant mineralized intercepts and mineralization
remains open in all directions. Nine of those holes returned
grade-thickness values of more than 25 gram-meter (g-m) TotPtEq,
and five over 100 g-m grade thickness. 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.
Hole IM2006-02 returned
166 g-m grade-thickness TotPtEq including
4.3 meters of 2.94 g/t 3E (Pt + Pd + Au) plus 0.24% Ni+Cu
starting at just 28.3 meters depth, demonstrating grade
that is directly comparable to that of the Platreef over
potentially minable widths. Hole IM2006-02 also returned a number
of other mineralized intercepts including 1.0 meter at 11
g/t 3E and 4.7 meters of 0.68 g/t 3E plus 0.63% Ni+Cu.
Located approximately 700 meters to the east of
IM2006-02, hole CC2 confirms mineralization laterally along the
layered magmatic system, while also providing a deeper test to the
Basal Series. Drilled by Anaconda in 1990, CC2 reached 569 meters
deep and returned multiple mineralized intervals including
1.2 meters grading 0.13% Ni and 4.08% Cu, and 8.9 meters
grading 0.39% Ni and 0.12% Cu, starting at 532 meters down
hole. Precious metals were not analyzed in this historic
drill hole but would be expected to occur with these base metal
sulphides.
Reconnaissance rock sampling and geological
mapping results from 2018 and previous campaigns confirm the grade
potential of the Crescent target area with 12 rock samples
reporting greater than 2 g/t TotPtEq, ranging up to 10.54 g/t
TotPtEq. In addition, high-grade palladium results
in rock samples include up to 5.74 g/t and 7.64 g/t Pd with strong
base metal results of up to 0.377% and 0.391% Ni, and 0.12%
Co.
As shown in Figures 2 and 3, historic drilling
on a small block of adjacent claims held by Sibanye-Stillwater led
to the development of a historic resource of approximately
260,000 ounces grading 2.39 g/t platinum and
palladium, along trend of the same conductive
magmatic target. While not on Group Ten’s claim block, these
results demonstrate the potential in that target area to host
significant PGE mineralization at grades comparable to Platreef
deposits and confirm that the observed electro-magnetic conductive
anomalies are targeting nickel-copper sulphide mineralization.
Figure 2 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f05739f4-45ad-463c-916a-4d574d65f67f
Figure 3 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea7b867a-ca2c-4aae-b04b-b7c70f43842f
Cathedral Target Area
Cathedral is one of the least explored target
areas at Stillwater West, however existing data reports high-grade
PGE results in geological mapping which correlates with the
conductive geophysical high noted above. Results from the only
drill hole with surviving data report significant base metal grade
and width with 6.2 meters of 0.15% Ni plus 0.33%
Cu in IC-01, confirming that the
conductive highs are targeting significant nickel and copper
sulphide mineralization. Precious metals were not analyzed in this
historic drill hole but would be expected to occur with these base
metal sulphides.
Reconnaissance surface sampling to date,
presented in Table 3, returned 22 samples with over 2 g/t
TotPtEq with seven results over 5 g/t platinum,
palladium and gold. Strong rhodium values are also noted,
with five samples returning more than 0.56 g/t Rh.
Rhodium values have not been included in the calculation of metal
equivalents in the tables above and below.
Table 1 – Drill Results – Crescent Target
Area
|
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-01 |
33.1 |
176.9 |
143.9 |
0.05 |
0.08 |
0.02 |
0.14 |
0.14 |
0.02 |
n/a |
0.16 |
0.79 |
0.19 |
113.3 |
including |
155.8 |
175.9 |
20.1 |
0.16 |
0.23 |
0.07 |
0.46 |
0.17 |
0.07 |
n/a |
0.21 |
1.34 |
0.32 |
26.9 |
and |
199.8 |
235.0 |
35.2 |
0.13 |
0.08 |
0.08 |
0.30 |
0.29 |
0.12 |
n/a |
0.34 |
1.73 |
0.42 |
61.0 |
including |
208.6 |
228.0 |
19.4 |
0.21 |
0.12 |
0.12 |
0.46 |
0.44 |
0.18 |
n/a |
0.53 |
2.67 |
0.65 |
51.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-02 |
8.3 |
203.0 |
194.7 |
0.05 |
0.11 |
0.02 |
0.18 |
0.15 |
0.03 |
n/a |
0.16 |
0.85 |
0.21 |
166.4 |
including |
28.3 |
32.6 |
4.3 |
0.59 |
2.26 |
0.09 |
2.94 |
0.20 |
0.04 |
n/a |
0.22 |
3.89 |
0.94 |
16.8 |
including |
28.6 |
29.6 |
1.0 |
2.28 |
8.45 |
0.28 |
11.00 |
0.24 |
0.05 |
n/a |
0.26 |
12.16 |
2.95 |
12.3 |
including |
152.5 |
184.7 |
32.2 |
0.07 |
0.12 |
0.05 |
0.24 |
0.19 |
0.09 |
n/a |
0.23 |
1.22 |
0.30 |
39.3 |
and |
212.8 |
251.8 |
39.0 |
0.05 |
0.10 |
0.07 |
0.22 |
0.17 |
0.09 |
n/a |
0.22 |
1.15 |
0.28 |
44.8 |
including |
229.5 |
234.2 |
4.7 |
0.06 |
0.35 |
0.27 |
0.68 |
0.41 |
0.22 |
n/a |
0.52 |
2.89 |
0.70 |
13.5 |
including |
249.3 |
251.8 |
2.4 |
0.03 |
0.14 |
0.08 |
0.26 |
0.21 |
0.05 |
n/a |
0.24 |
1.26 |
0.31 |
3.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-03 |
12.2 |
66.5 |
54.3 |
0.04 |
0.05 |
0.02 |
0.12 |
0.12 |
0.02 |
n/a |
0.13 |
0.64 |
0.16 |
34.6 |
and |
72.5 |
197.8 |
125.3 |
0.08 |
0.09 |
0.05 |
0.22 |
0.15 |
0.05 |
n/a |
0.18 |
0.95 |
0.23 |
119.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-04 |
11.0 |
46.4 |
35.5 |
0.09 |
0.11 |
0.01 |
0.21 |
0.14 |
0.01 |
n/a |
0.14 |
0.80 |
0.19 |
28.2 |
and |
79.5 |
243.8 |
164.3 |
0.06 |
0.11 |
0.05 |
0.22 |
0.17 |
0.04 |
n/a |
0.19 |
1.02 |
0.25 |
168.4 |
including |
168.7 |
240.2 |
71.5 |
0.11 |
0.17 |
0.10 |
0.37 |
0.22 |
0.07 |
n/a |
0.26 |
1.46 |
0.35 |
104.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-05 |
0.0 |
76.8 |
76.8 |
0.05 |
0.05 |
0.01 |
0.11 |
0.20 |
0.04 |
n/a |
0.22 |
1.00 |
0.24 |
76.5 |
and |
213.7 |
308.5 |
94.8 |
0.04 |
0.07 |
0.04 |
0.15 |
0.19 |
0.04 |
n/a |
0.20 |
1.00 |
0.24 |
95.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-06 |
1.2 |
58.5 |
57.3 |
0.03 |
0.02 |
0.01 |
0.05 |
0.18 |
0.02 |
n/a |
0.19 |
0.83 |
0.20 |
47.6 |
and |
171.3 |
315.2 |
143.9 |
0.04 |
0.08 |
0.01 |
0.13 |
0.14 |
0.02 |
n/a |
0.14 |
0.72 |
0.18 |
103.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IM2006-07 |
17.7 |
43.3 |
25.6 |
0.01 |
0.01 |
0.00 |
0.03 |
0.23 |
0.06 |
n/a |
0.26 |
1.09 |
0.27 |
28.0 |
including |
42.1 |
43.3 |
1.2 |
0.01 |
0.01 |
0.01 |
0.03 |
2.33 |
1.26 |
n/a |
2.96 |
12.21 |
2.97 |
14.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMC04-1 |
0.0 |
96.9 |
96.9 |
0.04 |
0.10 |
0.01 |
0.15 |
0.12 |
0.01 |
0.011 |
0.16 |
0.83 |
0.20 |
80.2 |
including |
19.5 |
27.5 |
8.0 |
0.23 |
0.72 |
0.04 |
0.99 |
0.20 |
0.06 |
0.014 |
0.27 |
2.12 |
0.52 |
17.0 |
including |
23.4 |
26.5 |
3.1 |
0.49 |
1.42 |
0.07 |
1.98 |
0.19 |
0.05 |
0.013 |
0.26 |
3.06 |
0.74 |
9.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMC04-2 |
0.0 |
67.7 |
67.7 |
0.02 |
0.03 |
0.00 |
0.05 |
0.13 |
0.01 |
0.010 |
0.16 |
0.73 |
0.18 |
49.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CC2 |
129.8 |
143.0 |
13.1 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.10 |
n/a |
0.21 |
0.86 |
0.21 |
11.3 |
and |
223.0 |
240.2 |
17.2 |
n/a |
n/a |
n/a |
n/a |
0.18 |
0.06 |
n/a |
0.21 |
0.87 |
0.21 |
14.9 |
including |
223.0 |
232.3 |
9.3 |
n/a |
n/a |
n/a |
n/a |
0.24 |
0.07 |
n/a |
0.28 |
1.16 |
0.28 |
10.8 |
and |
346.9 |
348.1 |
1.2 |
n/a |
n/a |
n/a |
n/a |
0.13 |
4.08 |
n/a |
2.17 |
8.92 |
2.17 |
10.9 |
and |
531.6 |
540.5 |
8.9 |
n/a |
n/a |
n/a |
n/a |
0.39 |
0.12 |
n/a |
0.45 |
1.85 |
0.45 |
16.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intercepts with grade-thickness values over 25 gram-meter
TotPtEq, plus select lesser intervals, 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. CC series drill are
considered historic and have not been independently verified by
Group Ten.
Table 2 – Rock Sample Results – Crescent
Target Area
|
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
7293 |
1.47 |
7.64 |
0.11 |
9.22 |
0.207 |
0.071 |
0.022 |
0.316 |
10.54 |
2.56 |
|
n/a |
1090 |
0.62 |
5.74 |
n/a |
6.35 |
0.000 |
0.000 |
0.120 |
0.399 |
7.99 |
1.94 |
|
0.26 |
7296 |
0.69 |
3.44 |
0.11 |
4.24 |
0.177 |
0.067 |
0.022 |
0.284 |
5.43 |
1.32 |
|
n/a |
7301 |
1.76 |
2.67 |
0.03 |
4.46 |
0.092 |
0.000 |
n/a |
0.092 |
4.85 |
1.18 |
|
n/a |
5838 |
0.73 |
0.93 |
0.12 |
1.79 |
0.391 |
0.156 |
0.021 |
0.539 |
4.03 |
0.98 |
|
n/a |
5840 |
0.86 |
1.29 |
0.16 |
2.31 |
0.192 |
0.027 |
0.019 |
0.269 |
3.45 |
0.84 |
|
n/a |
7294 |
0.90 |
1.17 |
0.06 |
2.13 |
0.158 |
0.034 |
0.021 |
0.245 |
3.15 |
0.77 |
|
n/a |
3190253 |
0.31 |
0.53 |
0.11 |
0.95 |
0.377 |
0.039 |
0.026 |
0.483 |
2.96 |
0.72 |
|
n/a |
7295 |
0.57 |
1.01 |
0.06 |
1.64 |
0.144 |
0.036 |
0.022 |
0.235 |
2.63 |
0.64 |
|
n/a |
1088 |
0.45 |
0.71 |
0.13 |
1.30 |
0.003 |
0.000 |
0.076 |
0.257 |
2.39 |
0.58 |
|
0.30 |
867 |
0.21 |
0.26 |
0.06 |
0.53 |
0.352 |
0.032 |
0.017 |
0.423 |
2.29 |
0.56 |
|
n/a |
873 |
0.08 |
0.18 |
0.19 |
0.45 |
0.289 |
0.142 |
0.013 |
0.402 |
2.15 |
0.52 |
|
n/a |
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
Table 3 – Rock Sample Results – Cathedral
Target Area
|
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
136 |
3.99 |
6.10 |
0.13 |
10.22 |
0.053 |
0.010 |
0.003 |
0.067 |
10.53 |
2.56 |
|
0.81 |
IC-78-4 |
4.55 |
5.88 |
n/a |
10.43 |
n/a |
n/a |
n/a |
n/a |
10.43 |
2.53 |
|
n/a |
IC-78-1 |
5.08 |
1.95 |
n/a |
7.03 |
n/a |
n/a |
n/a |
n/a |
7.03 |
1.71 |
|
n/a |
145 |
2.97 |
2.33 |
0.25 |
5.55 |
0.213 |
0.063 |
0.010 |
0.279 |
6.76 |
1.64 |
|
0.44 |
CW061100-1 |
1.14 |
4.85 |
0.12 |
6.11 |
0.108 |
0.069 |
0.003 |
0.151 |
6.76 |
1.64 |
|
0.37 |
CM061100-2 |
1.17 |
3.94 |
0.11 |
5.22 |
0.140 |
0.103 |
0.003 |
0.201 |
6.07 |
1.48 |
|
n/a |
CW061100-12 |
2.16 |
3.06 |
0.07 |
5.29 |
0.079 |
0.029 |
0.006 |
0.114 |
5.78 |
1.40 |
|
0.56 |
84 |
1.38 |
3.24 |
0.10 |
4.72 |
0.085 |
0.012 |
0.004 |
0.103 |
5.17 |
1.26 |
|
0.56 |
IC-78-5 |
0.91 |
3.98 |
n/a |
4.88 |
n/a |
n/a |
n/a |
n/a |
4.88 |
1.19 |
|
n/a |
IC-78-8 |
1.93 |
2.78 |
n/a |
4.70 |
n/a |
n/a |
n/a |
n/a |
4.70 |
1.14 |
|
n/a |
85 |
1.93 |
2.04 |
0.03 |
4.00 |
0.108 |
0.006 |
0.007 |
0.133 |
4.56 |
1.11 |
|
0.75 |
CM061100-4 |
1.17 |
2.50 |
0.11 |
3.78 |
0.083 |
0.035 |
0.002 |
0.109 |
4.25 |
1.03 |
|
0.37 |
CW061100-7 |
0.51 |
2.26 |
0.05 |
2.82 |
0.064 |
0.022 |
0.002 |
0.081 |
3.16 |
0.77 |
|
0.19 |
CM061100-8 |
1.35 |
1.24 |
0.02 |
2.61 |
0.066 |
0.009 |
0.009 |
0.100 |
3.02 |
0.74 |
|
0.56 |
81 |
0.53 |
1.77 |
0.06 |
2.36 |
0.123 |
0.048 |
0.003 |
0.158 |
3.02 |
0.73 |
|
0.19 |
CW061100-14 |
0.45 |
1.72 |
0.08 |
2.25 |
0.136 |
0.037 |
0.007 |
0.176 |
3.00 |
0.73 |
|
0.19 |
78 |
1.03 |
1.01 |
0.07 |
2.10 |
0.115 |
0.039 |
0.004 |
0.149 |
2.73 |
0.66 |
|
0.19 |
140 |
0.54 |
1.53 |
0.10 |
2.16 |
0.083 |
0.037 |
0.003 |
0.110 |
2.64 |
0.64 |
|
0.25 |
139 |
0.42 |
1.06 |
0.13 |
1.61 |
0.153 |
0.034 |
0.011 |
0.208 |
2.49 |
0.61 |
|
0.09 |
79 |
0.63 |
1.12 |
0.05 |
1.80 |
0.111 |
0.023 |
0.007 |
0.144 |
2.40 |
0.58 |
|
0.19 |
146 |
0.45 |
0.83 |
0.07 |
1.35 |
0.173 |
0.017 |
0.012 |
0.221 |
2.28 |
0.55 |
|
0.25 |
83 |
0.87 |
0.50 |
0.02 |
1.39 |
0.122 |
0.010 |
0.009 |
0.156 |
2.04 |
0.50 |
|
0.19 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
Next Steps
Follow up target definition work is planned for
both the Crescent and Cathedral target areas to develop and allow
prioritization of future targets for testing. Planning is currently
underway for the next phase of drill testing at the advanced target
areas at Stillwater West project including Iron Mountain and Chrome
Mountain with the objective of offsetting higher-grade mineralized
intercepts that show the potential to be rapidly advanced to a
resource delineation stage. Additional synthesis and modelling work
is underway on less advanced areas at Stillwater West to develop
and refine targets for drill testing. 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 resources2,3, 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
Complex4. 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: |
Hammarstrom, J.M., Zientek, M.L., Elliott, J.E., USGS Open-File
Report 93-207, 1993. |
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. 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 3: |
Public production records from
Stillwater Mining Company from 1992 to present. |
Note 4: |
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 &
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.
2006 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
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