Drilling Campaign Results From The Stillwater West Project
VANCOUVER - Group Ten Metals Inc. reported results from the 2020 drill campaign at the Chrome Mountain target area of the Company's flagship Stillwater West Platinum Group Element (PGE)-Ni-Cu-Co + Au project in Montana. Intervals from 120 to 530 meters of continuous nickel and copper sulphide mineralization, enriched in palladium, platinum, rhodium, gold, and cobalt, were intercepted in the five drill holes starting at or near surface, with each hole also encountering higher-grade intervals over widths of 50 to 150 meters in addition to more selective high-grade intervals. These results further demonstrate the potential for multiple, large-scale, bulk tonnage "Platreef-style" horizons of battery metals and PGEs within the lower Stillwater complex, based on known parallels with South Africa's Bushveld complex.
Work in 2020 included a five-hole, 1,822-meter (5,979 foot) drill campaign which focused on the Chrome Mountain target area, in follow-up to the previous campaigns which focused on the HGR and Camp target areas. The Company's drilling to date has had the primary objectives of driving the conversion of drill-defined mineralized zones towards formal mineral resources while also expanding areas of known mineralization at priority target areas. 2020 Chrome Mountain drill results are now being incorporated into 3D block models to progress the generation of formal mineral resources in parallel to the work underway at the HGR and Camp target areas, with an expected release of maiden resources for all three target areas by mid-2021.
2020 Drill Highlights: CM2020-04 returned strong mineralization across its entire length with 455 meters of 1.13 g/t Total Platinum Equivalent ("TotPtEq"), or 0.25% Total Nickel Equivalent ("TotNiEq"), starting at surface with multiple well-mineralized intervals that include two horizons of previously unidentified nickel sulphide mineralization of 8.5 meters of 8.20 g/t TotPtEq (or 1.79% TotNiEq) within a broader intercept of 54 meters of 2.58 g/t TotPtEq (0.57% TotNiEq) and, separately, 60 meters of 2.22 g/t TotPtEq (0.48% TotNiEq); CM2020-05 returned strong nickel and PGE mineralization in multiple intercepts within 149 meters of 1.19 g/t TotPtEq (0.26% TotNiEq), including 11.6 meters of 2.80 g/t TotPtEq; CM2020-02 returned 126 meters of 1.33 g/t TotPtEq (0.29% TotNiEq) with multiple PGE-rich intervals including 24 meters of 2.76 g/t TotPtEq (0.60% TotNiEq), 6.1 meters of 4.50 g/t TotPtEq (0.98% TotNiEq), and 15 meters of 2.61 g/t TotPtEq (0.57% TotNiEq); CM2020-03 returned 122 meters of 1.27 g/t TotPtEq (0.28% TotNiEq) including 6.1 meters of 3.51 g/t TotPtEq (0.77% TotNiEq); CM2020-01 returned 533 meters of 0.76 g/t TotPtEq (0.17% TotNiEq) for a total of 405 gram-meter TotPtEq grade-thickness, starting at surface and including 130 meters of 0.96 g/t TotPtEq (0.21% TotNiEq); Preliminary metallurgical assessments returned strong nickel tenor in sulphides in drill holes from the 2020 campaign. Historic initial bench-scale metallurgical results completed by AMAX in the 1970s at the Camp target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE metal recovery. Sample collection for more detailed metallurgical testing is on-going; and Rhodium was reported in all five drill holes at potential co-product levels with grades that are comparable to mines in South Africa. There is very little mine supply of rhodium outside of South Africa and Russia, and persistent multi-year supply deficits have priced rhodium at more than 20x the value of platinum.
Michael Rowley, President and CEO, said, "Our 2020 drill campaign exceeded our expectations, not only expanding drill-defined mineralization and driving the resource modeling effort at the priority Chrome Mountain target area, but also identifying multiple new well-mineralized horizons that feature wide intervals of battery metals, PGEs, and gold in previously untested areas. The high-grade nickel sulphide intercepts in hole CM2020-04 are particularly exciting as they represent very high nickel tenor horizons in a new discovery that is open for expansion. This was our first test of a fraction of the targets identified in our 77 line-kilometer 2020 IP geophysical survey, and the success of this program is a strong demonstration of its effectiveness in targeting new discoveries with both grade and scale. The results also speak to the extraordinary size and potential of the lower Stillwater complex, with impressive "Platreef-style" battery metal and PGE mineralization in each hole featuring intercepts that are hundreds of meters in width. The strategic importance of a U.S.-based large-scale battery metal asset like Stillwater West to contribute towards the growing needs of manufacturers like Tesla while also supplying PGEs to emerging fuel cell manufacturers in North America leverages the value of this critical resource. We look forward to further announcements including our plans for 2021, which we anticipate will include our largest exploration program to date, and the delivery of maiden resource estimates, currently targeted for summer 2021."