VANCOUVER, BC / ACCESSWIRE / August 4, 2020 / Group Ten Metals Inc. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "Group Ten") is pleased to provide an exploration update from its flagship Stillwater West platinum group element, nickel, copper, cobalt, and gold ("PGE-Ni-Cu-Co + Au") project in Montana, USA, including the start of an Induced Polarization ("IP") geophysical survey, arrival of the drill rig and crew, and assay results from geological mapping programs completed in the past weeks at earlier stage targets.
Highlights:
- Titan Drilling's crew and drill have arrived at Stillwater West and are preparing to start work at the Discovery target at Chrome Mountain. Discovery is one of three priority target areas where the Company is now advancing drill-defined mineralized zones towards maiden NI 43-101 mineral resources.
- Simcoe Geoscience commenced work in late July on a planned 66 line-kilometer IP geophysical survey. The survey will focus on the most advanced target areas - Discovery, Pine, Camp and HGR - with coverage extending from known mineralized zones into adjacent targets to refine and focus expansion drilling planned to immediately follow the survey.
- Group Ten's 2020 exploration program is targeting world-class polymetallic deposits of precious and battery metals in a famously productive and metal-rich mining district which supports the highest grade palladium-platinum mines in the world, and a smelter and refinery complex, in the USA. The Company's work to date has demonstrated potential for bulk tonnage "Platreef-style" deposits of nickel and copper sulphide that host palladium, platinum, rhodium, gold, and cobalt within the lower Stillwater complex, based on known parallels with South Africa's Bushveld complex.
- The Company is also prioritizing advancement of drill-defined high-grade gold mineralization at the Pine target, building on the expanded potential for high-grade gold across the 25-kilometer Stillwater West project, as announced recently in news releases on May 13th and 29th, 2020.
- Geological mapping and prospecting programs have been underway since June at earlier-stage targets. Early results have returned high-grade precious metal values in rock samples from the Blakely target area, including 7.10 g/t 3E (4.25 g/t Pt, 1.97 g/t Pd, and 0.88 g/t Au) in sample 3191471.
- Blakely, located at the western end of the Stillwater West project, is one of four new kilometer-scale targets announced on May 13, 2020. These early results show significant PGE-Ni-Cu-Co + Au mineralization in apparent Peridotite Zone rocks, within coincident conductive and soil geochemical anomalies that show significant potential for size.
Michael Rowley, President and CEO, commented, "We are pleased to announce the arrival of the drill to Stillwater West for what is expected to be our largest exploration program yet as we target precious and battery metals, including high-grade gold, in a famously productive district. Drilling will focus on the most advanced target areas and will be preceded in each area by an IP geophysical survey that is now underway at the Discovery target. These two exploration methods are expected to form a powerful combination as we expand from known mineralization into untested adjacent targets defined by coincident and high-level soil and conductive anomalies. In addition, we are active with smaller programs at less advanced targets and our first campaign of the year has already returned high-grade precious metals results from the Blakely target, a target that was first announced in May. It is an exciting time for the Company as we are well funded and have permits in place to begin to fully test and expand upon our "Platreef-in-Montana" model, based on known similarities with the Bushveld Complex. We look forward to providing additional news from Stillwater West as we work to expand known mineralization and convert drill-defined mineralized zones to mineral resources in the most advanced target areas."
FIGURE 1 - Four Priority Target Areas (Pine, Discovery, Camp, and HGR) and the Early-Stage Blakely Target Across the 25-Kilometer Stillwater West Project
About Stillwater West
The Stillwater West PGE-Ni-Cu-Co + Au project positions Group Ten as the second-largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater's Stillwater, East Boulder, and Blitz PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co 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. At the same time, the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-Ni-Cu-Co deposits, similar to Platreef in the Bushveld Complex2. Group Ten's Stillwater West project covers the lower part of the Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company's core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater's high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals' development-stage Goliath-Goldlund project in northwest Ontario, and the Kluane PGE-Ni-Cu-Co 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, brownfield assets in established mining districts adjacent to some of the industry's highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon's high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon's Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry's leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, 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.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent, or nature of mineralization or potential future results of the Company's projects.
Note 2: 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director
Phone: (604) 357 4790
Toll Free: (888) 432 0075
Email: [email protected]
Web: http://grouptenmetals.com
Quality Control and Quality Assurance
Field samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals.
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.
SOURCE: Group Ten Metals Inc.