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Stillwater Critical Minerals Partners with Cornell University on Hydrometallurgy and Carbon Sequestration Initiatives for its Stillwater West Ni-PGE-Cu-Co + Au Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to announce it has partnered with Cornell University under the MINER program, funded by the U.S. Department of Energy (“DOE”) via the Advanced Research Projects Agency program (“ARPA-E”). Test work, led by Dr. Greeshma Gadikota, will focus on novel hydrometallurgical techniques and carbon capture, with the objective of increasing the extraction of critical minerals using reduced energy for a carbon negative mining future.

Cornell University is the recipient of a federal grant from ARPA-E as part of a program entitled “Supercritical CO2-Based Mining for Carbon-Negative Critical Mineral Recovery”. Cornell University seeks to advance CO2-sourced hydrometallurgical pathways for recovering energy critical metals, including nickel, cobalt, platinum and palladium, coupled to the carbon mineralization of calcium and magnesium components to produce calcium and magnesium carbonates. Novel functional materials for the selective capture and recovery of these energy critical metals will be developed. Various sources for CO2 will be investigated including air for metal recovery coupled to carbon mineralization. These approaches will be specifically tuned to the mineralogy of the Company’s Stillwater West project in Montana.

Stillwater Critical Minerals, Tuesday, February 14, 2023, Press release picture
Stillwater Critical Minerals, Tuesday, February 14, 2023, Press release picture

Dr. Greeshma Gadikota

Dr. Greeshma Gadikota stated, “The U.S. imports the great majority of its energy critical metals from mines all over the world, leaving the U.S. quite vulnerable. Our research is all about decarbonizing the mining industry and developing an independent, domestic supply chain of these critical metals. It’s important for U.S. manufacturing, green energy, national security, and competitiveness.”

Relating to the Cornell University partnership, Company President and CEO, Michael Rowley, will join Dr. Gadikota at the ARPA-E MINER kick-off event in Austin, Texas on February 14 and 15, 2023. Other presenters and attendees include Tesla Motors, major mining companies, top US government officials and financial institutions. More information on the MINER program is available here: https://arpa-e.energy.gov/technologies/programs/miner.

Michael Rowley, Stillwater Critical Minerals President & CEO, stated, “We are very pleased to be selected as the industry partner for Dr. Gadikota’s cutting-edge work and to work closely with her team toward our shared vision of securing the future domestic supply of the critical minerals the US so urgently needs. Our Stillwater West project is rapidly advancing as a potential large-scale, low-carbon source of nickel, copper, cobalt, palladium, platinum and rhodium. Located in an active and expanding US mining district with a long history of critical minerals production and demonstrated world-class scale and grade, Stillwater West is on a very short list of assets with the potential to play a significant role in realizing the goals set out in the bipartisan Inflation Reduction Act, and other ongoing initiatives. It is our belief that mining can do more than supply minerals by conventional means, and that partnerships such as this are the path toward more sustainable practices.”

About Dr. Greeshma Gadikota

Dr. Greeshma Gadikota is an Assistant Professor and Croll Sesquicentennial Fellow in the School of Civil and Environmental Engineering with a field appointment in the Smith School of Chemical and Biomolecular Engineering at Cornell University. Dr. Gadikota directs the Sustainable Energy and Resource Recovery Group. She held postdoctoral research associate appointments at Princeton University and Columbia University, and a research associate appointment at the National Institute of Standards and Technology (NIST). Her PhD in Chemical Engineering and MS degrees in Chemical Engineering and Operations Research are from Columbia University. Her BS in Chemical Engineering is from Michigan State University. She is a recipient of the DOE, NSF and ARO CAREER Awards, Sigma Xi Young Investigator Award, Cornell Engineering Research Excellence Award, Inaugural Cornell Rising Women Innovator Award, and AICHE Sabic Award for Young Professionals from the Particle Technology Forum. Dr. Gadikota received her PhD in Chemical Engineering and earned her MS degrees in Chemical Engineering and Operations Research, from Columbia University. Her BS in Chemical Engineering is from Michigan State University.

Research Interests

With more than 80% of our energy resources recovered from the subsurface environments which requires about 50 billion cubic meters of fresh water and contributes to more than 75% of global CO2 emissions, our grand societal challenge lies in meeting our growing demand for energy and resources while reducing environmental impact. Addressing these earth-scale challenges requires us to develop novel technologies to engineer targeted physico-chemical interactions in complex engineered and natural environments. Enabling emergent technologies for a sustainable earth requires us to advance the cross-scale science of fluid-solid interactions in complex and extreme environments. With this perspective, our research is directed towards applications that involve (i) engineering the natural environment for sustainable energy and resource recovery and (ii) designing novel chemical pathways for advancing low carbon and negative emissions technologies.

About ARPA-E

The Advanced Research Projects Agency-Energy (ARPA-E advances high-potential, high-impact energy technologies that are too early for private-sector investment. ARPA-E awardees are unique because they are developing entirely new ways to generate, store, and use energy. ARPA-E projects have the potential to radically improve U.S. economic prosperity, national security, and environmental well-being. We focus on transformational energy projects that can be meaningfully advanced with a small amount of funding over a defined period of time. Our streamlined awards process enables us to act quickly and catalyze cutting-edge areas of energy research.

ARPA-E empowers America’s energy researchers with funding, technical assistance, and market readiness. Our rigorous program design, competitive project selection process, and active program management ensure thoughtful expenditures. ARPA-E Program Directors serve for limited terms to ensure a constant infusion of fresh thinking and new perspectives. To learn more visit: https://arpa-e.energy.gov/.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. Per an expanded NI 43-101 mineral resource estimate released January 2023, the Platreef-style nickel and copper sulphide deposits at Stillwater West contain 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, in a compelling suite of critical minerals and are open for expansion along trend and at depth.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

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

Email: info@criticalminerals.com Phone: (604) 357 4790

Web: http://criticalminerals.com Toll Free: (888) 432 0075

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 Stillwater Critical Minerals 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 Stillwater Critical Minerals 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: Stillwater Critical Minerals

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Base Metals Breaking Energy Junior Mining Metallic Minerals Precious Metals Stillwater Critical Minerals Uncategorized

Stillwater Critical Minerals Expands Resource 62% to 1.6 Blbs Battery Metals and 3.8 Moz PGE+Gold at Stillwater West Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / January 25, 2023 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to report a 62% increase in the updated independent National Instrument 43-101 (“NI 43-101”) mineral resource estimate (the “2023 Resource”) for its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA. The study, which was completed by SGS Geological Services (“SGS”), showed significant increases in tonnage and contained metal at both a bulk tonnage 0.20% nickel equivalent (“NiEq”) cut-off (“Base Case”) and a 0.35% NiEq higher grade bulk tonnage cut-off. A high-grade, selective mining component at a 0.70% NiEq cut-off is presented for the first time.

The Company will host a live webcast on January 31, 2023, at 10am PT | 1pm ET to discuss the Stillwater West project and the 2023 Resource. To register, click here.

2023 Resource Highlights

  • Base Case Inferred mineral resources of 1.6 billion pounds (“Blbs”) of nickel, copper and cobalt and 3.8 million ounces (“Moz”) palladium, platinum, rhodium, and gold (“4E”) in a constrained model totaling 255 million tonnes (“Mt”) at an average grade of 0.39% total estimated recovered NiEq (or 1.19 g/t Palladium Equivalent “PdEq”). See detailed breakdown in Tables 1 and 2, below.
  • Significant increases in contained metals over the 2021 study at the Base Case 0.20% NiEq cut-off:
Tonnage: 255Mt (62% increase)Palladium: 2.05Moz (56% increase)
Nickel: 1.05Blbs (52% increase)Platinum: 1.26Moz (66% increase)
Copper: 499Mlbs (44% increase)Gold: 395Koz (30% increase)
Cobalt: 91Mlbs (31% increase)Rhodium: 115Koz (76% increase)
  • The selective mining high-grade component yielded 11.6Mt at 1.05% Total NiEq (or 3.24 g/t Total PdEq) as 0.56% Ni, 0.33% Cu, 0.03% Co with 0.54 g/t Pd, 0.27 g/t Pt, 0.15 g/t Au and 0.019 g/t Rh. Expansion of this high-grade component results from the addition of high-grade mineralization encountered in the 2021 drill campaign.
  • Sulphur grades of 1.13% to 6.16% indicate desirable high nickel tenor in sulphide, supporting effective recovery via conventional flotation techniques.
  • 2.27Blbs of chromium has been inventoried. Chromium is defined by the US government as a critical mineral.
  • Deposits in the 2023 Resource are defined by 156 drill holes from a total of 230 holes drilled on the Stillwater West property and include all holes from the Company’s three campaigns to date.
  • The 2023 Resource is contained within five deposits in the 9-kilometer central area of the project, all of which are open along strike and at depth. Multi-kilometer scale geophysical targets (Figure 1) and metal-in-soil anomalies indicate excellent expansion potential (Figures 2 to 4). Untested anomalies and earlier stage targets extend across much of the 32-kilometer-long Stillwater West project.

An NI 43-101-compliant technical report on the 2023 Resource for the Stillwater West project will be filed on Sedar.com within 45 days.

Michael Rowley, President and CEO stated, “We are very pleased with the expanded 2023 resource, which returned substantial increases in tonnage and contained metals while also increasing the high-grade component. Overall, these increases speak to the fantastic growth potential and under-explored nature of the Stillwater West project, and to our ability to rapidly increase resources in these wide-open deposits with targeted expansion drilling at low discovery costs. Our Stillwater West project, with its world-class endowment of eight critical minerals, is unique in the United States as a district-scale asset located in an active, producing district that has a long history of large-scale critical mineral production. The US government has recognized the importance of critical minerals to both economic and national security interests and is taking increasing action to secure domestic supply of these key metals at a time when we are advancing Stillwater West and demonstrating its potential. Our exceptional team, with multi-decades of experience at both Stillwater and in the parallel layered geology of the Bushveld Igneous Complex, is well-positioned to advance the asset. We look forward to continuing to build on our success and low discovery costs as we finalize our follow up expansion programs for 2023.”

Dr. Danie Grobler, Vice-President of Exploration, commented, “The 2022 field season, with a renewed focus on geology and structure, has contributed to the understanding of the multi-target geometry and mineralization controls within the Ultramafic Series of the Stillwater Complex, as an analogue to the Platreef of the Bushveld Complex. Our advanced understanding of Platreef-style mineralization and ore mineralogy, and our collaboration with Professor Wolfgang Maier at Cardiff University United Kingdom, as well as key staff at the US Geological Survey, has increased our confidence in the stratigraphic and structural models guiding resource estimation. Enhanced continuity and a significant tonnage increase, as well as increased medium and higher-grade categories, is a direct result of this effort. Our 2023 exploration programs will be focused on expansion of these thick zones of mineralized pegmatoidal pyroxenite/peridotite and associated chromites, as well as broad zones of massive to net-textured sulphides near the base of the layered sequence. We are seeing similar metal distribution characteristics when compared to the Platreef, as well as sulfur contents in relation to distance from the footwall contact. Our direct application of the detailed controls to mineralization in the Platreef-style models is guiding us along an exciting path of discovery.”

TABLE 1 – Grade and Contained Metal at Various NiEq Cut-off Grades

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Stillwater West Inferred Mineral Resource Estimate, January 20, 2023

Notes: 1) In-Pit Inferred Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Values in this table reported above and below the cut-off grades are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade. Equivalent grade and contained metal calculations do not include Rhodium values; 2) All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.

TABLE 2 – BASE CASE – Grade and Contained Metal by Deposit at 0.20% NiEq Cut-Off (Equals 0.62 g/t PdEq) Stillwater West 2023 Inferred Mineral Resource Estimate, January 20, 2023

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Notes: 1) No assays shown as – ; 2) equivalent contained metal and grades do not include Rh. See additional notes on page 4.

2023 Exploration Planning

The Company is finalizing 2023 exploration plans with work expected to include extension of the highly effective geophysical surveys and completion of expansion drilling, focused on large, thick zones of mineralized pegmatoidal pyroxenite and peridotite within the resource areas. These zones show direct parallels to the thick Flatreef-style mineralized zones discovered in recent years by Ivanhoe Mines on the Platreef. A second focus for drilling will be to expand on the nickel-rich massive sulphide zones, as well as the very high-grade gold-PGE mineralization within structurally controlled zones.

Metallurgy

Preliminary metallurgical assessments by SWCM returned strong nickel tenor in sulphides drilled by the Company to date. In addition, favorable historic bench-scale metallurgical results completed historically by AMAX at the Iron Mountain target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE recovery. Sample collection for more detailed metallurgical testing is on-going as part of the expanding development of Stillwater West, with a view to including full metallurgical assessment in future studies.

Carbon Capture at Stillwater West

All five deposits in the 2023 Resource contain desirable nickel sulphide mineralization that has been shown to require a much lower environmental footprint in subsequent processing to nickel metal or nickel sulphate in comparison to the laterite nickel ores that dominate global production. As part of SWCM’s commitment to global sustainability initiatives, the Company is also examining the potential for large-scale carbon sequestration with the objective of further reducing and possibly eliminating the carbon footprint of a potential mining operation at Stillwater West.

Preliminary results demonstrate the presence of certain ultramafic minerals that are known to have high capacity to bind carbon dioxide by a natural process known as mineral carbonation. As announced in a news release on September 23, 2021, the Company is continuing its research with Dr. Greg Dipple and his team at ARCA (formerly based at the University of British Columbia, Canada), to assess the capacity of rock samples from Stillwater West to bind carbon dioxide for permanent disposal as part of a potential mining operation. The Company has partnered with Cornell University for more active carbon sequestration methods, as well as hydrometallurgical processing.

This work strongly aligns with SWCM’s Environmental, Social and Governance guidelines and principles, and the incorporation of carbon uptake may bring financial benefits via initiatives such as the 45Q Tax Credit for Carbon Oxide Sequestration that is now in place in the US.

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s operating 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. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update announced in January 2023.

Stillwater Critical Minerals’ Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario is currently under an earn-in agreement with Heritage Mining and the Company also holds the Kluane PGE-Ni-Cu-Co project on trend in Canada‘s Yukon Territory.

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
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

Resource estimate notes for Tables 1 and 2:

  1. The classification of the current Mineral Resource Estimate into Inferred is consistent with current 2014 CIM Definition Standards – For Mineral Resources and Mineral Reserves.
  2. All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.
  3. All Resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction.
  4. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  5. The update MRE is based on data for 156 surface drill holes representing 29,392 m of drilling, including data for 14 surface drill holes for 5,143 m completed by Stillwater in 2021.
  6. The mineral resource estimate is based on 6 three-dimensional (“3D”) resource models representing the Chrome Mountain (Hybrid and DR), Camp, HGR, Central and Crescent Zones.
  7. Composites of 1.2 to 3.0 m have been capped where appropriate.
  8. Fixed specific gravity values of 2.90 – 3.10 g/cm3 (depending on deposit) were used to estimate the Mineral Resource tonnage from block model volumes (% block model). Waste in all areas was given a fixed density of 2.9 g/cm3.
  9. Cu, Ni, Co, Pt, Pd, Au and Cr are estimated for each mineralized zone; S and Rh for the majority of the zones. Blocks (5x5x5) within each resource model were interpolated using 1.2 to 3.0 m capped composites assigned to that resource model. To generate grade within the blocks, the inverse distance squared (ID2) interpolation method was used for all domains.
  10. Based on a review of the project location, size, geometry, continuity of mineralization and proximity to surface of the Deposits, and spatial distribution of the five main deposits of interest (all within a 8.7 km strike length), it is envisioned that the Deposits may be mined by open pit.
  11. In-pit Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Pit optimization and Cut-off grades are based on metal prices of $9.00/lb Ni, $3.75/lb Cu, $24.00/lb Co, $1,000/oz Pt, $2,000/oz Pd and $1,800/oz Au, assumed metal recoveries of 80% for Ni, 85% for copper, 80% for Co, Pt, Pd and Au, a mining cost of US$2.50/t rock and processing and G&A cost of US$18.00/t mineralized material.
  12. The in-pit Mineral Resource grade blocks were quantified above the base case cut-off grade. At this base case cut-off grade the deposits show excellent geologic and grade continuity. The project is at an early stage of exploration and all deposits are open along strike and down dip. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
  13. The results from the pit optimization are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. Pit optimization does not represent an economic study.
  14. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  15. The Author is not aware of any known mining, processing, metallurgical, environmental, infrastructure, economic, permitting, legal, title, taxation, socio-political, or marketing issues, or any other relevant factors not reported in this technical report, that could materially affect the current Mineral Resource Estimate.

Qualified Person

The Stillwater West PGE-Ni-Cu-Co + Au project 2023 Resource estimate was prepared by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of January 20, 2023. Armitage conducted a recent site visit to the property on June 29 and 30, 2022. Mr. Armitage reviewed and approved the technical content of this news release with respect to the 2023 Resource estimate.

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 outside of the 2023 Resource estimate that is 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 Stillwater Critical Minerals 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 Stillwater Critical Minerals 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.

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Figure 1 2023 DEPOSIT MODELS WITH SELECT DRILL RESULTS OVER 3D INDUCED POLARIZATION (IP) GEOPHYSICAL SURVEY RESULTS

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Figure 2 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER PRECIOUS AND BASE METALS IN SOILS

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Figure 3 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER GEOPHYSICS (CONDUCTIVITY)

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Figure 4 14 TARGET AREAS ACROSS MAIN CLAIM BLOCK INCLUDING PICKET PIN (UPDATED JANUARY 2023)

SOURCE: Stillwater Critical Minerals

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Base Metals Energy Metallic Minerals Precious Metals Stillwater Critical Minerals

Stillwater Critical Minerals Reports up to 0.396 g/t Rhodium in Drill Results from the Stillwater West PGE-Ni-Cu-Co + Au Project, Montana, USA

VANCOUVER, BC / ACCESSWIRE / January 18, 2023 / Stillwater Critical Minerals Corp. (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to announce results of rhodium assays conducted on core from resource expansion drilling on its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA, adjacent to Sibanye-Stillwater’s world-class critical minerals mining operations.

These results, along with the integration of deposit models from South Africa’s Bushveld complex, provide the Company and SGS Geological Services (“SGS”) with the remaining components necessary to finalize an update of the Company’s inaugural October 2021 resource estimate (the “2021 Resource”), which delineated five Platreef-style deposits totaling 1.1 billion pounds of nickel, copper and cobalt, and 2.4 million ounces of palladium, platinum, rhodium and gold (see Figure 1).

Rhodium intercept highlights from resource expansion drilling include:

  • Widespread rhodium in drill results at potentially significant co-product grades including:
    • 0.122 g/t Rh over 7.2 meters in CM2021-01 starting at 304.8 meters;
    • 0.104 g/t Rh over 8.3 meters in CM2021-03 starting at 252.2 meters; and
    • 0.396 g/t Rh over 1.2 meters in CM2021-01 starting at 411.6 meters.
  • Current results expand upon similar results in past campaigns which returned 0.103 g/t Rh over 7.9 meters in hole CM2020-05, and 0.100 g/t Rh over 6.1 meters in hole CM2007-02.
  • Rhodium is mined solely as a co-product at grades that are often below 0.1 g/t. South Africa dominates global production, and there is very little mine supply in North America. Sibanye-Stillwater, adjacent to SWCM’s Stillwater West project, is the primary US producer.
  • Supply constraints have resulted in elevated rhodium prices since 2017. At its current spot price of more than USD 12,000/oz, 0.1 g/t rhodium equates to more than 0.6 g/t gold or palladium equivalent, and more than 1.2 g/t platinum equivalent.
  • Rhodium has a high melting point, is highly corrosion resistant, and is critical in catalytic converters, along with platinum and palladium, for cleaner vehicle emissions.
  • Complete results from the 14-hole expansion drill campaign, which consisted of wide step-outs at three of the five deposits defined by the 2021 Resource, are being incorporated into the updated block models by SGS. As shown in Table 1, results continue to demonstrate impressive grade and scale with wide intervals at successively higher grades contained within very wide bulk-tonnage grade intervals, including:
    • 13.2 meters of 2.31% Ni, 0.35% Cu, 0.115% Co, and 1.51 g/t 4E (Pt+Pd+Au+Rh) starting at 37.6 meters and within 400.8 meters of continuous mineralization in hole CM2021-05;
    • 44.1 meters of 0.57% Ni, 0.34% Cu, 0.045% Co, and 0.74 g/t 4E starting at 32.8 meters and within 367.6 meters of continuous mineralization in hole CZ2021-01; and
    • 50.2 meters of 1.05 g/t 4E plus 0.19% Ni and other values within 728.1 meters of continuous mineralization in hole CM2021-01.
  • Metallurgical testing completed by AMAX confirmed recovery of rhodium along with palladium and platinum in preliminary bench-scale flotation testing at the CZ deposit area in the early 1970s.
  • Past work previously reported by the Company included surface sample results of up to 5.78 g/t Rh at the HGR target in the Iron Mountain area, and 1.07 g/t Rh at Chrome Mountain in reconnaissance-scale rock sample programs (see June 11, 2020, news release).
  • Early results for other rare Platinum Group Elements (“PGE”) show potential for additional value from iridium, osmium, and ruthenium which often occur along with platinum, palladium, and rhodium at Stillwater West.

Table 1 – Final results from resource expansion drilling including recent rhodium assay results.

INTERVALPRECIOUS METALSBASE METALSTOTAL METALEQUIVALENTS
HOLE IDFrom(m)To(m)Width(m)Pt(g/t)Pd(g/t)Au(g/t)Rh(g/t)4E(g/t)Ni(%)Cu(%)Co(%)NiEq*(%)NiEq*(%)PdEq*(g/t)
DR / HYBRID DEPOSIT AREA – RESOURCE EXPANSION DRILLING
CM2021-010.0728.1728.10.120.170.020.0130.320.130.030.0130.160.260.66
including230.5583.4352.90.210.270.030.0220.540.170.040.0150.200.380.95
including304.8312.07.20.630.640.030.1221.430.110.020.0080.130.671.68
including324.0385.261.20.190.170.020.0390.420.200.040.0150.230.390.98
including397.2556.4159.20.310.410.050.0250.790.180.030.0170.220.471.17
including397.2447.450.20.480.480.040.0501.050.190.030.0150.220.561.40
including423.4430.67.20.931.330.050.0272.340.240.030.0180.270.962.39
including479.8549.269.40.270.470.060.0170.820.180.040.0170.220.481.20
including530.0543.213.20.260.810.060.0391.170.210.060.0170.250.671.67
including530.0537.27.20.331.070.080.0491.540.210.050.0170.240.791.97
including687.4728.140.70.070.200.020.0080.290.180.070.0210.240.340.84
CM-2021-020.0333.0333.00.080.100.020.0060.200.110.040.0110.140.210.52
including118.7232.8114.10.070.120.040.0070.240.190.090.0150.240.320.79
including131.5148.417.00.160.250.050.0240.490.190.100.0220.270.441.11
including256.9267.010.20.140.380.070.0160.610.250.130.0140.310.521.29
CM-2021-030.0428.2428.20.080.130.020.0090.240.100.030.0150.140.220.56
including106.0115.29.20.020.030.060.0080.120.280.110.0450.410.461.14
including165.0215.450.40.060.060.030.0050.150.130.040.0170.170.220.55
including165.0172.27.20.010.050.040.0020.100.290.100.0440.410.451.11
including240.1270.430.30.310.650.050.0481.060.140.030.0130.170.551.37
including252.2260.58.30.491.060.050.1041.700.130.030.0130.160.812.02
CM-2021-040.0208.8208.80.050.080.020.0040.140.110.050.0150.160.200.50
including0.067.267.20.100.170.020.0100.300.130.050.0160.180.280.69
including3.616.813.20.170.520.030.0250.750.150.040.0150.190.461.14
including198.0208.810.80.020.040.030.0020.100.250.220.0260.380.411.02
CM-2021-0536.4437.2400.80.060.120.040.0080.220.170.030.0150.200.270.68
including36.4132.496.00.060.120.120.0020.300.400.050.0240.430.521.30
including37.650.813.20.250.430.820.0151.512.310.350.1152.432.897.21
including37.643.66.00.500.771.340.0242.633.470.240.1953.584.3810.92
including190.0208.018.00.180.580.040.0250.820.160.050.0150.200.491.22
including191.2196.04.80.401.410.090.0711.980.210.070.0160.260.982.43
including345.7364.018.30.210.430.050.0340.720.160.060.0140.200.461.14
CM-2021-060.0376.8376.80.080.130.020.0090.240.120.030.0140.150.230.57
including123.0150.827.80.150.410.040.0300.630.160.050.0150.200.431.07
including125.1129.44.30.280.990.070.0961.440.230.070.0200.280.862.15
including254.0264.810.80.050.120.030.0040.210.270.060.0300.330.401.01
including303.4376.873.40.200.260.030.0200.510.140.020.0170.170.340.84
including305.8328.422.60.320.440.020.0350.810.110.010.0170.140.421.04
including315.4327.211.80.420.630.020.0481.120.100.010.0170.140.521.29
CZ DEPOSIT AREA – RESOURCE EXPANSION DRILLING
CZ2021-0110.8378.4367.60.060.170.020.0090.260.150.060.0150.200.290.72
including13.276.963.70.120.420.070.0270.640.470.270.0400.620.862.15
including32.876.944.10.120.490.090.0350.740.570.340.0450.751.042.58
CZ-2021-0287.694.87.20.030.100.080.0020.210.170.110.0180.240.310.78
HGR DEPOSIT AREA – RESOURCE EXPANSION DRILLING
IM-2021-01Did not reach target depth due to bad ground conditions
IM-2021-02Did not reach target depth due to bad ground conditions, repeated as IM-2021-03
IM-2021-03Did not reach target depth due to bad ground conditions
115.0118.63.60.321.170.060.0671.620.140.020.0120.160.761.90
IM-2021-040.0306.5306.50.050.090.020.0050.150.130.080.0130.180.230.57
including92.2207.6115.40.090.160.030.0090.280.190.100.0150.250.340.85
including92.2102.09.80.391.020.060.0691.540.190.060.0180.240.802.00
including147.6200.452.80.070.110.040.0030.220.230.160.0140.310.370.93
including256.0260.84.80.000.150.090.0550.300.740.650.0701.111.283.19
IM-2021-050.0379.2379.20.070.130.020.0060.220.170.090.0140.220.290.74
including66.899.232.40.150.300.040.0170.500.220.110.0160.280.451.12
including310.2378.067.80.060.160.030.0060.260.250.140.0160.320.401.01
including313.4334.921.50.070.240.040.0130.350.380.130.0240.450.581.43
including313.4315.82.40.000.650.110.0860.851.550.170.0871.632.045.08
including327.7334.97.30.130.340.040.0070.510.450.170.0260.530.701.74
including346.8347.81.00.030.310.110.0900.552.520.310.0972.542.847.09
including354.3364.810.50.070.220.040.0030.330.340.330.0180.490.591.48
including354.3355.51.20.070.820.060.0010.951.330.710.0551.601.924.79
IM-2021-060.0333.0333.00.080.140.020.0080.250.130.040.0120.160.240.60
including70.8164.894.00.140.320.050.0160.530.200.090.0140.250.431.06
including82.8109.226.40.190.410.080.0130.690.270.140.0160.340.561.40
including298.6314.215.60.160.330.020.0310.550.140.030.0160.180.380.95
including299.8304.64.80.420.830.050.0771.380.160.030.0160.190.701.75

*Notes to reported values:

  1. Ni and Pd equivalents are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel (Ni), $4.00/lb copper (Cu), $24.00/lb cobalt (Co), $1,000/oz platinum (Pt), $2,200/oz palladium (Pd), $1,800/oz gold (Au), and $10,000/oz rhodium (Rh).
  2. Recovered Nickel Equivalent in Table 1 is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price/ Ni price] + [Co% x recovery x Co price / Ni price] + [Pt g/t x recovery / 31.103 x Pt price / Ni price / 2,204 x 100] + [Pd g/t x recovery / 31.103 x Pd price / Ni price / 2,204 x 100] + [Au g/t x recovery / 31.103 x Au price / Ni price / 2,204 x 100]
  3. Palladium Equivalent is determined as follows: PdEq g/t = NiEq x 0.401
  4. In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t.
  5. The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations.
  6. Intervals are reported as drilled widths and are believed to be representative of the true width of mineralization.

Dr. Danie Grobler, Vice-President of Exploration, commented, “We see an overall trend of increasing PGE content up-sequence within the Ultramafic Series of the Stillwater Complex (“SWC”), like that observed within ultramafic portions of the Bushveld Complex (South Africa), as well as the Great Dyke in Zimbabwe. Scientific studies have shown that the Ultramafic Series of the SWC are enriched in PGE relative to most mafic magmas. Furthermore, the chromitite layers correlate with and are particularly enriched in rhodium and the lesser PGEs osmium, iridium, and ruthenium. More importantly, the reported high-grade rhodium results correlate with specific chromite seams and correspond to geochemical and geophysical anomalies associated with our existing resource areas defined during 2021, highlighting our rapidly advancing understanding of their occurrence, and our ability to effectively target new areas.”

Stillwater Critical Minerals President and CEO, Michael Rowley, stated, “Our 2022 programs built on the success of past campaigns, continuing to return rhodium at significant potential co-product values at a time when the U.S. is looking to increase domestic supplies of this very rare element, alongside 49 other critical minerals. We look forward to reporting our updated and expanded resource models in the near term as we advance Stillwater West towards its potential to become a primary low-carbon source of eight of the minerals listed as critical by the US government, effectively ushering in the next phase of critical mineral supply from the iconic and productive Stillwater Complex.”

Upcoming Events

The Company at is pleased to advise it will be presenting at the Emerging Growth Conference: January 25th at 9:30am PT | 12:30pm ET (virtual). To register, click here.

For a full list of upcoming events, visit our website: https://criticalminerals.com/investors/events/

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s 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. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected in 2022.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

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

Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2021 drill core 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. Rhodium was analyzed by fire assay (1C-Rhodium). Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.

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 Stillwater Critical Minerals 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 Stillwater Critical Minerals 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: Stillwater Critical Minerals Corp.



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Stillwater Critical Minerals – Reports High-Grade Gold, Platinum Group Elements, Battery Metals

Stillwater Critical Minerals (TSX.V: PGE | OTC: PGEZF)
Website | https://criticalminerals.com/
Corporate Presentation | https://criticalminerals.com/investors/presentations/
Stillwater Critical Minerals
Suite 904 – 409 Granville Street
Vancouver, BC V6C 1T2

Tel: +1 (604) 357-4790
Toll Free: +1 (888) 432-0075
Email: “Chris Ackerman (Critical Minerals)” cackerman@criticalminerals.com


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Stillwater Critical Minerals Reports High-Grade Gold and Platinum Group Elements with Battery Metals at the Pine Target, Stillwater West PGE-Ni-Cu-Co + Au Project, Montana, USA

Stillwater Critical Minerals, Proven and Probable

VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the “Company” or “SWCM”) is pleased to announce the first tranche of results from work completed in 2022 on its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project adjacent to Sibanye-Stillwater’s mining operations in Montana, USA.

A series of news releases are planned to report the results of work on key objectives including expansion of the 2021 Mineral Resource Estimate (the “2021 MRE”), integration of Platreef geologic models, and field campaigns including geophysical and geological field programs both within and outside defined deposit areas. Additional updates are also expected from on-going carbon sequestration testing and other initiatives the Company is currently advancing.

Pine Target Highlights

  • Rock chip samples taken across approximately two meters of exposed shear in a trench at the Pine target in 2022 returned high-grade gold, palladium and platinum mineralization with an average of 9.0 g/t Au, 0.69 g/t Pd, and 0.69 g/t Pt (see Table 1). Significant nickel and cobalt values are also reported, consistent with past results from this area.
  • Work in 2022 also included the acquisition of historic core to support the advancement of drill-defined high-grade mineralization at Pine towards completion of an NI-43-101-compliant resource. Mineralization at Pine was not included in the five deposits delineated by the 2021 MRE at the Chrome and Iron Mountain target areas, up to nine kilometers east of Pine within the Stillwater Igneous Complex.
  • Historic drilling at Pine returned values of 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters and 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters in the area of the 2022 trench samples (see Table 2, Figure 1, and news releases on June 4, 2019, and January 25, 2019).
  • Mineralization remains open to expansion in all directions including towards very high-level gold-in-soil anomalies extending up to two kilometers west of Pine, in addition to the adjacent high-level palladium, platinum, and nickel-copper soil anomalies shown in Figure 1.
  • Elevated gold values are also demonstrated in high-grade drill results two kilometers east of Pine at the Chrome Mountain deposit area (see May 3, 2022, news release reporting 13.2 meters of 2.31% Ni, 0.82 g/t Au, 0.43 g/t Pd, 0.25 g/t Pt, 0.35% Cu and 0.115% Co), and nine kilometers east at the Iron Mountain deposit area (see May 29, 2020, news release announcing identification of a “gold suite” of pathfinder elements that co-occur in high-grade samples).

IMAGE 1: Pine Target Location Over Metals in Soils and 2021 Mineral Resource Areas

IMAGE 2: Pine Tareget Location Showing 2021 Mineral Resource Estimate and 3D Induced Polarization Geophysical Survey Results

Table 1 – Assay results from 2022 trench samples at the Pine Target, Stillwater West project

Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture
Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture

Table 2 – Highlight mineralized drill intercepts from the Pine Target, Stillwater West project

Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture
Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture

Notes to reported values:

  1. Ni and Pd equivalents are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel (Ni), $4.00/lb copper (Cu), $24.00/lb cobalt (Co), $1,000/oz platinum (Pt), $2,200/oz palladium (Pd), and $1,800/oz gold (Au).
  2. Nickel Equivalent in Table 1 is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price/ Ni price] + [Co% x recovery x Co price / Ni price] + [Pt g/t x recovery / 31.103 x Pt price / Ni price / 2,204 x 100] + [Pd g/t x recovery / 31.103 x Pd price / Ni price / 2,204 x 100] + [Au g/t x recovery / 31.103 x Au price / Ni price / 2,204 x 100]
  3. Nickel Equivalent in Table 2 is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price / Ni price] + [Co% x recovery x Co price / Ni price]
  4. Palladium Equivalent is determined as follows: PdEq g/t = NiEq x 0.401
  5. In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t.
  6. The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations.
  7. Intervals are reported as drilled widths and are not believed to be representative of the true width of mineralization.

Dr. Danie Grobler, Vice-President of Exploration for SWCM, commented, “The Pine samples display an anomalous suite of shear zone hosted mineralization with elevated Au, Ni, Co and PGEs. These shear zones appear to trend in an NNW direction, forming an exciting and important target for advancement. The host rock is intensely sheared and altered Bronzite Cumulate with disseminated to massive chromite and possibly formed the focus for a cross-cutting post-magmatic hydrothermal alteration event. Recently identified precious and base metal in soil anomalies at the Gold Ridge and Pegmatoid Ridge targets to the west of Pine are coincident with large, intense anomalies in geophysical surveys and have not been explored in the past.”

Michael Rowley, President and CEO, commented, “Our expanding understanding of high-grade gold and platinum group element mineralization, alongside the wealth of critical minerals that the Stillwater district is known for, highlights the surprisingly underexplored nature of the lower Stillwater Igneous Complex and the potential that exists for the advancement of multiple world-class ore bodies across the 32-kilometer span of the Stillwater West project. We look forward to additional reports on recent work including our updated mineral resource estimate as those results become available, and beyond that to announcing our 2023 plans for continued expansion in this iconic American district.”

About the Pine Target

The Pine target is situated in the Wild West target area, approximately two kilometers west of deposits at the Chrome Mountain area, and nine kilometers west of deposits at the Iron Mountain area (see Figures 1 and 2). It is on the western side of the 12-kilometer-long resource area that contains the five deposits modeled in the 2021 MRE and has been detailed by Induced Polarization (IP) geophysical surveys conducted by the Company in 2020 and 2021. As shown in Figure 2, the broader Pine target area is characterized by an intense multi-kilometer-scale IP geophysical signature.

Results to date demonstrate very high-grade gold, palladium and platinum mineralization in drilling, soils and rock sampling, in addition to significant battery metals – in particular nickel and cobalt.

Work in 2022 focused on a geological sampling and mapping program, and the acquisition of some of the drill core from the 1983 and 2004 drill campaigns with the objective of finalizing drill targets and advancing drill-defined high-grade gold with PGE-Ni-Cu mineralization towards completion of an NI43-101-compliant mineral resource. At present, seven drill holes from 1983 and 2004 define a precious metals-rich mineralized zone that is 150 meters strike with an average width of 15 meters that has been tested to a depth of 90 meters (see Table 2 and news releases from June 4, 2019, January 25, 2019, and May 13, 2020). Mineralization remains open to expansion in all directions including towards very high-level gold-in-soil anomalies extending up to two kilometers west of Pine, in addition to the adjacent high-level palladium, platinum, and nickel-copper soil anomalies.

High-grade gold plus platinum group elements values have also been reported from drilling and surface samples at the Chrome and Iron Mountain deposit areas in addition to large-scale nickel, copper and cobalt bulk tonnage mineralization.

Pine is one of several priority targets for follow up exploration in 2023.

Mineral Resource Update and Integration of Platreef Geologic Models

The update to the 2021 MRE is entering the final stages of completion with release anticipated early in 2023. The updated models are driven by the integration of geologic models from the Platreef district of South Africa’s Bushveld complex, and the most recent 14-hole expansion drill campaign which returned multiple wide and high-grade battery and precious metal intercepts in wide step-outs from known mineralization at the three most advanced deposit areas within the 12-kilometer core of the project.

Significance of the Platreef Deposit Model

The Stillwater Igneous Complex is well-known to parallel South Africa’s Bushveld Igneous Complex, and developments at the Stillwater complex have generally paralleled those at the Bushveld, highlighting their significant geologic similarities. For example, Sibanye-Stillwater’s high-grade J-M Reef deposit was discovered by the direct application of geologic models developed during discovery of the high-grade Merensky reef deposit in the Bushveld.

More recent developments on the Bushveld have focused on the Platreef deposits, in the northern limb of the Bushveld, which depart from the conventional narrow reef-type mines that dominate global platinum group element mining with the occurrence of thick mineralized horizons that support bulk mining techniques and include much higher battery metal content. The mines of the Platreef are among the largest and most profitable in the world, and their mix of commodities offers an attractive internally hedged suite of in-demand critical minerals that is globally very rare. Starting with Anglo American’s PGE-Ni-Cu Mogalakwena mines in 1993 and continuing today with Ivanhoe’s underground Platreef mine, these mines have demonstrated the world-class nature of these bulk-tonnage, critical mineral systems within the Bushveld complex.

Platreef-style deposits also compare very favorably in an environmental sense as they contain nickel sulphide mineralization that is capable of producing nickel metal with a much smaller footprint than nickel recovered from laterite deposits, which currently represents the majority of global nickel supply. Additional environmental benefits are possible through reaction of atmospheric carbon dioxide with certain ultramafic rocks present in Platreef-style deposits. Testwork is underway to evaluate the potential for commercial-scale carbon sequestration during a possible mining operation Stillwater West.

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s 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. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V:PGE | OTCQB:PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected early in 2023.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co critical minerals 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, Granite Creek Copper in the Yukon’s high-grade Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. 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
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2022 rock chip 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. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.

2004 drilling was conducted by SWCM’s QP while working for Premium Exploration. 1983 drill results are considered historic and have not been independently verified by SWCM.

1980s assay data was obtained from a 1986 report by geologist R.J. Warchola titled “A Hydrothermal Gold Occurrence on Chrome Mountain, Stillwater Complex, Montana” published in the Montana Geologic Society and Yellowstone Bighorn Research Association Joint Field Conference and Symposium: Geology of the Beartooth Uplift and Adjacent Basin: YBRA 50th Anniversary Edition, 1986; and a 1984 internal report by R.J. Warchola titled “Geologic Report on the Pine Claim, Sweetgrass County, Montana February 1984”

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 Stillwater Critical Minerals 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 Stillwater Critical Minerals 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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Platinum price on pace for 20% quarterly gain, its biggest since 2008

Platinum price on pace for 20% quarterly gain, its biggest since 2008

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Due to ongoing supply concerns, platinum prices have surged more than 20% over the past three months, and the precious metal is now set to experience its best quarter since the start of 2009.

On Friday, platinum prices rose another 1.0% to $1,064.50 per ounce, bringing its quarterly gain to just under 23%.

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Should the price of platinum maintain its 20% uptick, then this will will be the biggest quarterly increase since the first quarter of 2008, when it gained a staggering 34%.

According to the World Platinum Investment Council, top consumer China has imported excessive amounts of platinum metal since 2019, which has left a limited above-ground supply for the rest of the world.

“This, in combination with higher prices likely being needed to release Chinese inventories to the domestic market, could have a significant bearing on platinum market price discovery,” the Council wrote in its Platinum Perspectives report in December.

The Council is anticipating a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%.

“Despite international economic turbulence, with many countries already in, or expected to tip into, recession, industrial demand for platinum will be up 10% compared to 2022, which exceeds the 10-year average,” the WPIC said in a press release.

Demand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023, the WPIC added.

According to Reuters data, platinum is by far the best-performing precious metal in 2022, recording a year-to-date gain of 9%. Over the same period, gold has lost around 1%, silver up around 3% and palladium down 4%.

(With files from Reuters)

Source: https://www.mining.com/platinum-price-on-pace-for-20-quarterly-gain-its-biggest-since-2008/

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Stillwater Critical Minerals Files Early Warning Report Regarding its Holdings of Heritage Mining

Stillwater Critical Minerals, Proven and Probable

VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces it has filed an Early Warning Report related to its holdings of 3,900,000 common shares of Heritage Mining Ltd. (“Heritage”) (CSE: HML) which represents approximately 11.8% of the total issued and outstand shares of Heritage. These shares were issued to Stillwater Critical Minerals as well as a cash payment of $150,000 and completion of $500,000 project work to satisfy first anniversary commitments per the Definitive Earn-In Agreement announced November 29, 2021 with respect to the Drayton-Black Lake gold project in Ontario, Canada.

The Heritage shares are held directly by Stillwater Critical Minerals for investment purposes. Additional share payments to Stillwater Critical Minerals are required under the Agreement and SWCM may in the future take such actions in respect of its shares as it deems appropriate in light of the market circumstances then existing including the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.

There are no persons acting jointly or in concert with Stillwater Critical Minerals with respect to the shareholdings in Heritage, nor has the Company entered into any agreements in respect of its shareholdings in Heritage with any person with which SWCM acts jointly or in concert.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update currently in progress.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

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: Stillwater Critical Minerals



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Stillwater Critical Minerals Engages SGS Geological Services for an Updated NI 43–101 Mineral Resource Estimate at the Stillwater West PGE-Ni-Cu-Co + Au Project, Montana, USA

VANCOUVER, BC / ACCESSWIRE / October 25, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that it has engaged SGS Geological Services (“SGS”) for an updated independent National Instrument 43-101 (“NI 43-101”) mineral resource estimate for its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA.

The Company also provides updates on recently completed field campaigns, the integration of Platreef geologic models, carbon sequestration studies, and other priority objectives.

Highlights

  • SGS has completed their site visit and is working on an updated NI 43-101-compliant mineral resource estimate at the most advanced target areas at Stillwater West as a priority objective for 2022.
  • Modelling of the updated resource estimate will be based on results of the 14-hole expansion drilling campaign which were not included in the initial resource in October 2021. Results from the expansion drill campaign demonstrated the impressive scale and grade of mineralization at Stillwater West with multiple drill intercepts of percent level nickel sulphide plus strong copper, cobalt, gold, and Platinum Group Element (“PGE”) values across nine kilometers in wide step-outs from known mineralization at three of the five deposit areas.
  • The updated resource estimate will be the first to integrate detailed geological insights from similar geology in South Africa’s Platreef district under the direction of Dr. Danie Grobler, who recently joined the team as Vice-President Exploration.
  • Additional rhodium assay results are pending for inclusion in the updated resource models.
  • A ground-based gravity geophysical survey covering approximately 15.5 line-km was completed in September 2022 in the Chrome Mountain target area. The survey is a test based on the success of this technique in targeting mineralization in South Africa’s Bushveld complex.
  • A comprehensive review of the project’s substantial database with targeted core re-logging has been completed to update the Company’s geologic model and integrate the understanding of important controls to mineralization developed in similar geology in the Bushveld. This work, along with channel sampling campaigns also completed in 2022, is expected to drive finalization of the updated resource models and direct future expansion drill campaigns.
  • The Company is expanding its engagement with the US Geological Service (“USGS”) to include new technical programs in addition to ongoing consultation and data sharing following onsite meetings.
  • Carbon sequestration studies are ongoing with the University of British Columbia and Carbin Minerals Inc to investigate the potential for carbon capture as part of a potential mining operation at Stillwater West. The Company is also engaging with other US-based research facilities to further explore this potential.

Dr Danie Grobler, Vice-President Exploration, commented, “There is an impressive amount of battery and platinum group metal in the Stillwater system, which is one of the largest in the world. Our collaborative work with the US Geological Survey and other recent academic studies have confirmed that the Stillwater Igneous Complex, including both Stillwater West and Sibanye-Stillwater’s J-M Reef deposit, was deposited as part of the same broad magmatic system. Similar geologic events created South Africa’s Bushveld Igneous Complex, and our recent work in the field has confirmed a number of parallels between Stillwater West and the Platreef district of the Bushveld in particular. This is significant because the Platreef hosts some of the very largest and most profitable critical minerals deposits in the world, including Anglo American’s Mogalakwena mine and Ivanhoe’s Platreef mine. Presently we are focused on fully integrating our understanding of Platreef geology into the Company’s geological model with a view to expanded exploration programs, and this work is well underway. Our summer field programs are now completed and included core relogging, geological mapping, channel sampling, and a focused gravity geophysical survey based on the success of this method in targeting high-grade nickel and copper sulphide mineralization, as well as PGE reef targets, in a similar setting as the Platreef. We look forward to providing further updates in the coming weeks.”

Michael Rowley, President and CEO states, “Stillwater West is a very rare asset, being a district-scale critical minerals project in the western US. The project has percent-level nickel sulphide – plus copper, cobalt, palladium, platinum, rhodium, gold and chromium values – in five deposits across the 12-kilometer-long resource area, which remains open for expansion across a broader 32-kilometer package that is continuously mineralized. In addition, the project is located in a truly world-class district with a long history of critical mineral production, adjacent to mines that are actively producing critical minerals. We continue to see confirmation of a large mineralized system with extraordinary potential to become a strategically significant US-based source of battery metals to meet growing electrification needs while also supplying PGEs for catalytic convertors and increasing fuel cell demand. For the near term, we see significant potential for expansion and are pleased to re-engage SGS for the priority resource modelling work.”

Resource Model Update

The inaugural October 2021 inferred Mineral Resource Estimate (the “2021 Resource”) was prepared by SGS and advanced the Stillwater West project significantly towards its potential to become a world-class source of low-carbon battery, catalytic and precious metals, in the USA.

The potential for resource expansion is driven by the highly successful most recent 14-hole drill campaign, which returned multiple wide and high-grade intercepts in wide step-outs from known mineralization at the three most advanced deposit areas. These 14 holes, which were not included in the 2021 Resource, include:

  • DR/Hybrid deposit area, Chrome Mountain – Drill hole CM2021-05 returned 13.2 meters of 2.31% Ni, plus 1.51 g/t Pd+Pt+Au+Rh (“4E”), 0.35% Cu, and 0.115% Co, starting at 37.6 meters and within 400.8 meters of continuous battery and precious metal mineralization. High-grade mineralization in this hole is of a type not previously identified in the Stillwater district and appears to be related to 8.5 meters of similar high-grade, high-tenor nickel sulphide returned in hole CM2020-04 approximately 125 meters downdip to the west. See news releases from May 3, 2022, and March 3, 2021.
  • CZ deposit area, Iron Mountain – Drill hole CZ2021-01 returned 63.7 meters of 0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and 0.04% Co as well as significant Pt and Au values, within 367.6 meters of continuous mineralization. Hole CZ2021-01 was a step-out from hole CZ2019-01 which returned 3.54 meters of 1.53% Ni, 0.49% Cu, 0.099% Co, and 3.45 g/t 4E within 399 meters of continuous mineralization, starting at surface. The CZ deposit benefits from a historic resource and positive preliminary metallurgical work completed by AMAX in the 1970s. The Company is expanding nickel-copper mineralization at CZ by the application of Platreef geologic models. See news releases from December 20, 2021, and January 21, 2020.
  • HGR deposit, Iron Mountain – Drill hole IM2021-05 returned 7.3 meters of 0.45% Ni, 0.51 g/t 4E, 0.17% Cu and 0.026% Co, including 2.4 meters of 1.55% Ni, 0.85 g/t 4E, 0.17% Cu, and 0.087% Co, within 379.2 meters of continuous battery and precious metal mineralization starting at surface. IM2021-05 was a step-out from hole IM2019-03 which returned 26.8 meters of 0.34% Ni, 0.15% Cu, 0.019% Co, and 1.24 g/t 4E within 272.5 meters of continuous mineralization. See news releases from July 7, 2022, and December 18, 2019.

About SGS Geological Services

SGS Geological Services is known globally as an expert in ore body modelling, and resource and reserve evaluation with over 40 years and 1500 consulting projects of experience providing the mining industry with computer-assisted mineral resource estimation services using cutting edge geostatistical techniques. SGS brings the disciplines of geology, geostatistics and mining engineering together to provide accurate and timely mineral project evaluation solutions. As part of the larger SGS Natural Resources group, they draw upon their massive network of laboratories, metallurgists, process engineers and other professionals to help bring mineral projects to the next level.

Option Grant

The Company announces it has granted 1,540,000 incentive stock options (the “Options”) to Directors and Officers of the Company. The Options are exercisable for up to five years, expiring on October 25, 2027, and each Option will allow the holder to purchase one common share of the Company at a price of $0.175 per share. Options are subject to certain vesting requirements in accordance with the Company’s Long-Term Performance Incentive Plan.

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s 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. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSXV: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the ongoing production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected in 2022.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds 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, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. 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
Email: info@criticalminerals.comPhone: (604) 357 4790
Web: http://criticalminerals.comToll Free: (888) 432 0075

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 Stillwater Critical Minerals 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 Stillwater Critical Minerals 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: Stillwater Critical Minerals



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Stillwater Critical Minerals to Present at the October 5th Emerging Growth Metals Mining & Resource Conference and Attend the New Orleans Investment Conference October 12 – 15

VANCOUVER, BC / ACCESSWIRE / October 3, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to announce the Company will be presenting at the Emerging Growth Metals Mining & Resource Conference on October 5th, 2022 at 8:15am PT (11:15am ET).

Stillwater Critical Minerals, Monday, October 3, 2022, Press release picture
Stillwater Critical Minerals, Monday, October 3, 2022, Press release picture

This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with President and CEO, Michael Rowley, who will provide an overview of global and domestic markets for critical minerals and upcoming catalysts from America’s iconic Stillwater mining district where the Company is advancing the next phase of low-carbon critical mineral supply. Discussion will include a Q&A session.

To register, click here or the adjacent logo. To learn more about Emerging Growth Conferences, visit www.emerginggrowth.com.

The Company is further pleased to announce that President and CEO Michael Rowley will attend the New Orleans Investment Conference on October 12 – 15, 2022. Investors are invited to contact the Company to arrange to meet Mr. Rowley at the show.

Stillwater Critical Minerals President and CEO, Michael Rowley, commented “We are pleased to maintain a presence at select tradeshows in support of major upcoming catalysts as we advance world-class critical mineral supply from Montana’s Stillwater mining district. Chief among these is the updated resource estimate which remains on track for delivery later this year. In addition, we have made excellent progress on the integration of Platreef deposit models into our geologic models and look forward to providing a detailed update on this foundational work which will guide subsequent resource expansion work. We also look forward to reporting results from this years’ exploration campaigns and continued studies on carbon sequestration, as well as updates from Heritage Mining as they advance their earn-in at our Drayton-Black Lake gold project.”

“Although broader markets are challenging at present, the fundamentals remain very strong for our work advancing low-carbon, sulphide-hosted battery and precious metals in the US, with physical nickel supply at near-term lows and domestic demand – increasingly supported by US government incentives and initiatives – attaining new highs. Against this backdrop our ‘Platreef-in-Montana’ model, which is focused on large-scale domestic production of eight of the metals identified as critical for clean air and energy transmission and storage, is more relevant than ever.”

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present opportunities and communicate major announcements to the investment community in a time efficient manner.

Conference focus and coverage includes companies in a wide range of growth sectors with strong management teams, focused strategy and execution, and overall potential for long-term growth. The audience includes individual and institutional investors, as well as investment advisors and analysts.

About New Orleans Investment Conference

The New Orleans Investment Conference is the one place where the world’s most sophisticated investors gather every year to discover new opportunities and strategies, exchange ideas, plan for the coming year and enjoy the camaraderie of like-minded individuals in America’s most fascinating and entertaining city.

Speakers at the New Orleans Conference have included Lady Margaret Thatcher, former President Gerald Ford, novelist Ayn Rand, General H. Norman Schwarzkopf, Nobel Prize-winning economists Milton Friedman and F.A. Hayek, Dr. Henry Kissinger, Senator Barry Goldwater, Admiral Hyman Rickover, Louis Rukeyser, Sir John Templeton, Lord William Rees-Mogg, Charlton Heston, Jeane Kirkpatrick, Robert Bleiberg, Jack Kemp, William F. Buckley, General Colin Powell, Ron Paul and J. Peter Grace, among hundreds of other notables.

Founded in 1974 by legendary entrepreneur James U. Blanchard III, the Conference is now in its 47th consecutive year. It ranks as the preeminent gathering of private investors and attracts wealthy individuals from all 50 states and over 35 nations.

About Stillwater Critical Minerals

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With a robust debut mineral resource in 2021 and the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well-positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits defined by the Company in 2021 at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth. An updated NI 43-101 mineral resource is a priority objective for 2022.

Stillwater Critical Minerals also holds the high-grade Drayton-Black Lake gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company is looking to similarly monetize its district-scale Kluane PGE-Ni-Cu-Co project, which is on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory, as part of its focus on Stillwater West.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

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: Stillwater Critical Minerals



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