Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE:
5D32) (the “Company” or “Group Ten”) announces results
from the Camp Zone target area on the east side of the Stillwater
West Project in Montana, USA. This is the third 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 platinum group element-nickel-copper
(“PGE-Ni-Cu”) project adjacent to Sibanye-Stillwater’s high-grade
PGE mines in the Stillwater Igneous Complex. Highlights include:
- Drilling by AMAX in the late 1960s and early 1970s includes
nine holes which delineate a continuous zone of nickel-copper
sulphide mineralization in the Basal Series ranging from 15 to 110
meters in thickness over approximately 1.5 kilometers strike with
average grades of 0.42% nickel and 0.23% copper. Platinum and
palladium assays, completed as composite samples over select
intervals only, demonstrate thick intervals of enrichment,
confirming the potential for Platreef-style deposits in the lower
Stillwater Complex.
- Nickel and copper grades in these drill holes are comparable to
those in the Platreef deposits. Limited data is available for
platinum and palladium although select intervals were composited
with intercepts of up to 1.4 g/t Pt+Pd. Additional drilling will be
needed to better define PGE content.
- These drill holes confirm that the geophysical conductive high
in this area is targeting high-sulphide mineralization which
remains open along strike and to depth with untested parallel
conductive anomalies.
- Initial bench-scale metallurgical results from the Camp Zone
completed by AMAX are very encouraging and demonstrate that, though
Stillwater West is still an exploration stage asset with a lot of
room to grow, preliminary testing supports the potential for
effective nickel and copper sulphide flotation along with recovery
of a significant PGE component.
Michael Rowley, President and CEO, commented,
"We are pleased to report results of our work to date in the Camp
Zone target area of the 25-km-long Stillwater West Project (see
Figure 1) which, like the four target areas announced previously,
displays widespread platinum, palladium, gold, nickel, copper and
cobalt mineralization in drill and rock sample results across
highly conductive kilometer-scale geophysical anomalies with
coincident highly elevated levels of metals in soils. The Camp Zone
target area is among the most developed at Stillwater West Project
and is, along with the Chrome and Iron Mountain target areas, a
priority for work in 2019. We see the potential to rapidly expand
on previous work in terms of both size and grade through the
application of the geological model we have developed. The scale of
these targets, and the geological similarities to the Bushveld
Complex of South Africa, demonstrate the potential for discovery of
a major new bulk-tonnage “Platreef-style” PGE-Ni-Cu deposit in the
famously metal-rich 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/13503bcb-9b34-483f-a5e6-091cdceb5cbd
As shown in Figure 1, the Camp Zone target area
covers 1.8 km of strike length and represents one of eight major
electromagnetic geophysical conductors defined across the
25-kilometer length of the Stillwater West project. Most of the
work to date at Camp Zone has focused on disseminated to
net-textured sulphide mineralization within cumulates of the Basal
Series and adjacent country rocks. Drilling by Amax in the late
1960s through mid-1970s focused on exploration for nickel and
copper. Platinum and palladium analyses were completed on some
intervals on a composite basis with assays up to 1.4 g/t Pt+Pd, and
select holes report PGE assay results composited over long
intervals including hole 355-16 which returned 27.4m at
123.0 gram-meters Total Platinum Equivalent (TotPtEq) grade
thickness (0.75% Ni, 0.28% Cu, 0.21 g/t Pt and 0.62 g/t Pd,
equivalent to 4.48 g/t TotPtEq, or 1.09% Total Nickel
Equivalent).
Table 1 - Highlight Mineralized Drill
Intercepts from the Camp Zone Target Area |
|
INTERVAL |
PRECIOUS METALS |
BASE METALS |
TOTAL METAL |
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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CZ04-1 |
66.7 |
150.3 |
83.5 |
0.10 |
0.21 |
0.05 |
0.36 |
0.18 |
0.13 |
0.014 |
0.29 |
1.57 |
0.38 |
131.1 |
including |
93.9 |
119.1 |
25.2 |
0.16 |
0.38 |
0.08 |
0.62 |
0.33 |
0.23 |
0.025 |
0.53 |
2.82 |
0.69 |
71.2 |
including |
100.4 |
115.1 |
14.7 |
0.16 |
0.46 |
0.10 |
0.72 |
0.41 |
0.27 |
0.030 |
0.64 |
3.39 |
0.82 |
49.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CZ04-2 |
0.0 |
91.7 |
91.7 |
0.05 |
0.17 |
0.04 |
0.26 |
0.10 |
0.08 |
0.008 |
0.17 |
0.97 |
0.23 |
88.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-03 |
57.9 |
134.1 |
76.2 |
n/a |
n/a |
n/a |
n/a |
0.12 |
0.07 |
n/a |
0.15 |
0.64 |
0.15 |
48.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-05 |
77.4 |
116.1 |
38.7 |
n/a |
n/a |
n/a |
n/a |
0.28 |
0.27 |
n/a |
0.42 |
1.73 |
0.42 |
66.9 |
including |
80.8 |
99.1 |
18.3 |
n/a |
n/a |
n/a |
n/a |
0.37 |
0.24 |
n/a |
0.49 |
2.02 |
0.49 |
37.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-06 |
16.0 |
30.5 |
14.4 |
n/a |
n/a |
n/a |
n/a |
0.39 |
0.22 |
n/a |
0.50 |
2.30 |
0.56 |
33.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-10 |
20.1 |
63.1 |
43.0 |
n/a |
n/a |
n/a |
n/a |
0.19 |
0.08 |
n/a |
0.22 |
0.92 |
0.22 |
39.8 |
including |
38.4 |
63.1 |
24.7 |
n/a |
n/a |
n/a |
n/a |
0.22 |
0.09 |
n/a |
0.27 |
1.11 |
0.27 |
27.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-12 |
41.6 |
97.5 |
56.0 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.08 |
n/a |
0.20 |
0.81 |
0.20 |
45.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-15 |
20.1 |
63.1 |
43.0 |
n/a |
n/a |
n/a |
n/a |
0.16 |
0.03 |
n/a |
0.17 |
0.71 |
0.17 |
30.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-16 |
94.5 |
128.0 |
33.5 |
0.17 |
0.50 |
n/a |
0.67 (2E) |
0.65 |
0.26 |
n/a |
0.78 |
3.89 |
0.94 |
130.3 |
including |
97.5 |
125.0 |
27.4 |
0.21 |
0.62 |
n/a |
0.82 (2E) |
0.75 |
0.28 |
n/a |
0.89 |
4.48 |
1.09 |
123.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-22 |
79.2 |
137.8 |
58.5 |
0.09 |
0.26 |
n/a |
0.35 (2E) |
0.26 |
0.16 |
n/a |
0.34 |
1.73 |
0.42 |
101.4 |
including |
91.4 |
115.8 |
24.4 |
0.21 |
0.63 |
n/a |
0.83 (2E) |
0.39 |
0.21 |
n/a |
0.49 |
2.85 |
0.69 |
69.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-23 |
30.5 |
70.1 |
39.6 |
n/a |
n/a |
n/a |
n/a |
0.12 |
0.08 |
n/a |
0.16 |
0.65 |
0.16 |
25.6 |
AND |
88.4 |
152.4 |
64.0 |
n/a |
n/a |
n/a |
n/a |
0.17 |
0.08 |
n/a |
0.21 |
1.09 |
0.26 |
69.7 |
including |
106.7 |
131.1 |
24.4 |
0.27 |
0.36 |
n/a |
0.63 (2E) |
0.26 |
0.13 |
n/a |
0.32 |
1.96 |
0.48 |
47.8 |
including |
30.5 |
152.4 |
103.6 |
n/a |
n/a |
n/a |
n/a |
|
|
|
|
|
|
95.3 |
AND |
76.2 |
185.9 |
109.7 |
n/a |
n/a |
n/a |
n/a |
0.07 |
0.12 |
n/a |
0.13 |
0.55 |
0.13 |
60.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-36 |
24.4 |
57.0 |
32.6 |
n/a |
n/a |
n/a |
n/a |
0.40 |
0.25 |
n/a |
0.52 |
2.14 |
0.52 |
69.9 |
including |
32.0 |
57.0 |
25.0 |
n/a |
n/a |
n/a |
n/a |
0.48 |
0.28 |
n/a |
0.63 |
2.57 |
0.63 |
64.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-44 |
61.0 |
88.4 |
27.4 |
n/a |
n/a |
n/a |
n/a |
0.34 |
0.19 |
n/a |
0.43 |
1.78 |
0.43 |
48.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-46 |
32.0 |
45.7 |
13.7 |
0.04 |
0.36 |
n/a |
0.40 (2E) |
0.36 |
0.18 |
n/a |
0.45 |
2.25 |
0.55 |
30.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
355-48 |
17.7 |
61.0 |
43.3 |
0.01 |
0.07 |
n/a |
0.08 (2E) |
0.31 |
0.21 |
n/a |
0.41 |
1.77 |
0.43 |
76.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intercepts
with grade thickness values over 25 gram-meter TotPtEq are
presented above. Intervals with 2E data have composite platinum and
palladium assays only. 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. CZ04 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. |
|
Subsequent drilling in 2004 within the footprint of the historic
Camp Zone holes confirms the presence of broad zones of nickel and
copper sulphides and also identified significant associated
precious metal and cobalt mineralization with hole CZ04-1 returning
83.5 meters at 131.1 g-m TotPtEq including 25.2 meters at
2.82 g/t TotPtEq (or 0.69% TotNiEq). This hole comprised 0.33% Ni,
0.23% Cu, 0.025% Co, and 0.62 g/t 3E (as 0.16 g/t Pt, 0.38 g/t Pd,
0.08 g/t Au).
Like the Hybrid Zone target area at Chrome
Mountain (announced February 21, 2019), past work in the Camp Zone
target area provides the Company with drill-defined wide intervals
of mineralization that have typically only been tested to less than
150 meters of depth. These zones remain open in all directions and
the adjacent soil and geophysical anomalies remain untested (see
Figure 2).
Figure 2 – HIGHLIGHT DRILL AND ROCK
SAMPLE RESULTS OVER GEOPHYSICS – CAMP ZONE & IRON MOUNTAIN
TARGET AREAS
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/99dbbd02-e671-4114-b0cb-ab8f19d7d021
The Company is targeting a Platreef-type setting
at the Camp Zone where bulk-tonnage sulphide mineralization in the
Basal Series of the complex 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. The
potential for this setting at the Camp Zone is supported by deep
conductive geophysical targets along with historic drilling just
south of the Camp Zone, where hole IM01 drilled through iron
formation starting at surface, in what had been interpreted as
basement country rocks, before returning to mineralized layered
ultramafic rocks below (see Figure 3).
The multi-kilometer geophysical, geochemical and
geological signatures present compelling bulk-tonnage targets in
this type of setting for PGE-enriched Ni-Cu sulphides in the lower
Stillwater Complex stratigraphy. The Camp Zone target area is a
priority for follow-up work in 2019 based on the potential for
large-scale disseminated and massive nickel and copper sulphide
mineralization enriched in PGE, gold and cobalt. Group Ten sees the
potential to expand known mineralization in terms of both scale and
grade and rapidly advance these areas to resource delineation stage
through the application of a systematic approach and the predictive
geologic model developed to date.
Figure 3 – HIGHLIGHT DRILL AND ROCK
SAMPLE RESULTS OVER SOIL GEOCHEMISTRY (Pt, Pd, Au) - CAMP ZONE
& IRON MOUNTAIN TARGET AREAS
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/accf54b6-bbb3-45a9-92ed-4a0cca4039fb
About the Stillwater West
Project
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.
2004 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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