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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 Congratulates Heritage Mining on their Initial Public Offering

VANCOUVER, BC / ACCESSWIRE / August 30, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) congratulates Heritage Mining Ltd. (“Heritage”) for completion of their Initial Public Offering (“IPO”) and commencement of trading on the Canadian Securities Exchange under the symbol HML.

Under an earn-in agreement with SWCM announced November 29, 2021 (“the Agreement”), Heritage can acquire up to a 90% interest in the Drayton-Black Lake gold project in Ontario by completing cash and share payments totaling $320,000 and 7,200,000, respectively, and completing exploration and development work totaling $5,000,000 by the fourth anniversary of the Agreement.

The Agreement also provides SWCM with a 10% carried interest through completion of a feasibility study and includes potential success-based discovery payments of $1.00 per ounce of gold or gold equivalent on mineral resource estimates as filed from time-to-time on Drayton-Black Lake. Success-based payments are capped at a maximum of $10,000,000 and may be paid in cash or shares at Heritage’s discretion. At SWCM’s discretion, Heritage may own 100% of the project, with SWCM retaining an NSR royalty interest. Heritage has confirmed that issuance of 2,800,000 shares, required as a first tranche per the Agreement, is in progress and acknowledges the requirement for a cash payment of $150,000 within 10 days of the one-year anniversary of the Agreement.

Michael Rowley, SWCM’s President and CEO, commented, “Our heartiest congratulations to Heritage Mining for completing their IPO. This achievement is not only an important milestone in our agreement with them but is also one that sets the stage for our mutual success as they advance the Drayton-Black Lake project as their flagship asset. Heritage is off to a great start with a large and highly prospective land package in a producing yet underexplored high-grade district and a team with strong local expertise. gold belt. We expect our agreement with Heritage to be the first in a series of deals whereby we realize significant value for our non-core assets as part of our focus on battery and precious metals at Stillwater West, in Montana’s Stillwater Igneous Complex.”

Heritage Mining’s CEO, Peter Schloo stated, “Completing the IPO is a pivotal moment for Heritage. District-scale exploration assets are very rare, and the project’s location in Ontario’s producing Rainy River district adjacent to Treasury Metals’ Goliath Gold Complex makes it even more compelling. We are well-capitalized and excited about the potential of the Drayton-Black Lake project, and we look forward to reporting on our progress and the targets we have developed there.”

About the Drayton-Black Lake Gold Project

The Drayton-Black Lake project consists of over 142 square kilometers in the Abrams‐Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province in Ontario, Canada. This emerging gold belt has already produced over one million ounces gold1 and currently hosts 6.6 million ounces of gold in Reserves and Measured and Indicated resources in total among New Gold’s Rainy River Mine, Treasury Metals’ Goliath Gold Complex, and First Mining’s Cameron gold project2. Drayton-Black Lake has significant exploration potential with demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ development-stage Goliath Gold Complex project. Access and infrastructure are excellent on the project, which features direct road access and proximity to rail and power. The project features well-defined, near-term drill targets over four zones, based on over 100 years of exploration data from 176 diamond drill holes totaling approximately 20km that had never been compiled until 2022.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Mining_engineering%253BCanadian_Securities_Exchange%253BNatural_resource%253BExploration%253BInitial_public_offering%253BPrecious_metal%253BMineral%253BNew_Gold%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522f7bb1360-0dab-3a4d-8e1e-8e30f01e3037%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

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 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’s district-scale Kluane PGE-Ni-Cu-Co project is 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

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

Footnotes: 1 – New Gold company reports; 2 – Totals include Rainy River Mineral Reserves and Mineral Resources https://newgold.com/assets/reserves-and-resources/default.aspx, Goliath Gold Complex Mineral Resources Treasury Metals https://treasurymetals.com/site/assets/files/4272/goliath_gold_complex_ni_43-101_resource_estimate_f.pdf and First Mining’s Cameron project Mineral Resources https://www.firstmininggold.com/assets/other-wholly-owned/cameron-project/

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 projects. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is currently insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

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 Reports Wide and High-Grade Intervals of Platreef-Style Mineralization in Resource Expansion Drilling in the HGR Deposit Area at Stillwater West Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / July 7, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) today reports wide, high-grade intervals of nickel sulphide mineralization with palladium, platinum, rhodium, cobalt, copper and gold in a final tranche of first-pass drill results from the 14-hole resource expansion campaign completed at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. Additional rhodium results are pending.

Results continue to support the Company’s priority objective of expanding the October 2021 inaugural mineral resource estimates with multiple wide and highly mineralized intervals returned in step-out drilling in six holes at the HGR deposit area at Iron Mountain (see Table 1 and Figure 1). Drilling in 2021 focused on resource expansion in three of the five deposit areas delineated by the 2021 estimates. Similar wide and well-mineralized intervals have now been reported from all three deposit areas as announced December 20, 2021, March 7, 2022, and May 3, 2022. Mineralization remains open to expansion along trend and at depth in all five deposit areas, which are set within 12 kilometers of the broader 32-kilometer-long land package in the lower Stillwater Igneous Complex (see Figure 2).

Highlights from six holes drilled in the HGR deposit area in 2021 include:

  • IM2021-05 returned379.2 meters of continuous battery and precious metal mineralization starting at surface and grading 0.33% Nickel Equivalent (“NiEq”), equal to 0.88 g/t Palladium Equivalent (“PdEq”), with successive contained higher-grade intervals including:
    • 133.2 meters of 0.38% NiEq (1.01 g/t PdEq);
    • 21.5 meters of 0.66% NiEq (1.75 g/t PdEq); and
    • 7.3 meters of 0.79% NiEq (2.11 g/t PdEq) as 0.45% Ni, 0.51 g/t Pd+Pt+Au+Rh (“4E”), 0.17% Cu and 0.026% Co .

IM2021-05 is the second most highly mineralized drill hole ever recorded in the Stillwater district with a grade-thickness value of 334 gram-meter PdEq, after CM2021-01 which returned 530 gram-meter PdEq.

  • IM2021-06 returned 94.0 meters of 0.48% NiEq (1.28 g/t PdEq) within333.0 meters of continuous mineralization grading 0.28% NiEq (0.73 g/t PdEq). Additional contained intervals at higher grades include 26.4 meters of 0.63% NiEq (1.69 g/t PdEq) and 4.8 meters of 1.38 g/t 4E which includes 0.077 g/t Rh .
  • IM2021-04 , partially reported on March 7, 2022, returned 115.0 meters of 0.38% NiEq (1.02 g/t PdEq) within 306.5 meters of continuous mineralization grading 0.26% NiEq (0.68g/t PdEq). Additional contained intervals at higher grades include:
    • 9.8 meters of high-grade PGE mineralization with 0.89% NiEq (2.38 g/t PdEq) as 1.54 g/t 4E including 1.02 g/t Pd, 0.39 g/t Pt, and 0.064 g/t Rh, along with base metal mineralization; and
    • 4.8 meters of high-grade battery metal mineralization with 1.47% NiEq (3.91 g/t PdEq) as 0.74% Ni, 0.65% Cu, 0.070% Co, plus 0.30 g/t 4E including 0.055 g/t Rh (see photo below).
  • Drilling in the HGR deposit area in 2021 focused on step-out holes in the area of IM-2019-03 which returned 272.5 meters of 0.42% NiEq (1.11 g/t PdEq) including 26.8 meters of 0.96% NiEq (2.55 g/t PdEq) as 0.34% Ni, 0.15% Cu, 0.019% Co, 0.33 g/t Pt, 0.77 g/t Pd, 0.08 g/t Au, and 0.049 g/t Rh (see Figures 1 to 4).
  • These results, alongside results released May 3 and March 7, 2022, and December 20, 2021, demonstrate significant potential to expand the October 2021 mineral resource estimates with multiple long intervals at grades well above the 0.20% NiEq cut-off grade used in that study (see bolded assay values on Table 1). Potential is also shown to expand existing resources at higher cut-off grades, such as 0.35% and 0.50% NiEq (red values and shaded rows, respectively, on Table 1). Moreover, as shown in Figures 1 to 4, these results provide important intercepts in step-out drill holes located up to several hundred meters from the resource estimate block models.
  • Results also continue to highlight the potential for significant co-product rhodium values at Stillwater West, with drill samples in Iron Mountain holes IM2021-04, -05, and -06 returning up to 0.365 g/t Rh within the mineralized horizons. At recent values, rhodium trades at more than 16 times the value of platinum and seven times the value of palladium on a spot price basis at over US$14,000 per ounce. Sibanye-Stillwater, adjacent to Stillwater Critical Minerals’ Stillwater West project, is the primary US producer. Supply constraints for rhodium have supported rising prices since 2017.
  • Complete first-pass assay results have now been reported from all 14 holes drilled in 2021. Additional rhodium assays are pending on mineralized intervals.
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

Dr. Danie Grobler, Stillwater Critical Minerals’ Vice-President of Exploration, commented “Stillwater West continues to demonstrate significant equivalence with the Platreef deposits of the northern Bushveld Complex. Albie Brits and I are actively applying our combined four decades of Platreef experience in our new roles at Stillwater Critical Minerals with a priority on updating the geologic model to support planning and refining of drill targets for the next phase of follow-on work. Our current focus is to define detailed stratigraphic and structural controls within the 2021 Inferred Resource areas. We are also in the process of reviewing and prioritizing higher-grade pegmatoidal pyroxenite targets within the Stillwater stratigraphy that have not been fully tested.”

Michael Rowley, President and CEO, commented, “Results from the Iron Mountain drill campaign continue to demonstrate the remarkable potential for expansion of our inaugural mineral resource with multiple wide intercepts of battery and precious metals and contained intervals at successive higher grades. In particular our success in targeting Platreef-style nickel sulphide mineralization in step-out holes in the area of IM2019-03 shows excellent potential for resource growth, similar to our success in the DR and Hybrid deposit areas over seven kilometers to the west. We continue to see confirmation of a large mineralized system with an impressive endowment of eight of the commodities listed as critical by the US government. We look forward to further updates on our planned resource expansion, exploration priorities for 2022, and other news in the near term.”

Table 1 – Highlight Results from the 2021 Expansion Drill Campaign at the HGR Deposit Area

Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

Highlighted significant mineralized intercepts are presented above. Grade-thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using long term metal prices (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.

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, USA 1 . 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 Complex 2 . 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.

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

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. 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.

Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture
Stillwater Critical Minerals, Thursday, July 7, 2022, Press release picture

SOURCE: Stillwater Critical Minerals

Categories
Energy Junior Mining Metallic Minerals Precious Metals Stillwater Critical Minerals

Group Ten Reports 13.2 Meters of 3.33% Nickel Equivalent Within 401 Meters Continuous Mineralization from Resource Expansion Drilling at Stillwater West Critical Minerals Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / May 3, 2022 / Group Ten Metals Inc. (TSX.V:PGE; OTCQB: PGEZF; FSE:5D32) (the “Company” or “Group Ten”) today reports wide, high-grade intervals of nickel sulphide with palladium, platinum, rhodium, cobalt, copper and gold in a third tranche of drill results from the 14-hole resource expansion campaign completed at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA.

Results continue to support the Company’s priority objective of expanding the October 2021 inaugural mineral resource estimates with multiple wide and highly mineralized intervals returned in step-out drilling in the DR-Hybrid deposit area at Chrome Mountain (see Table 1 and Figure 1). Drilling in 2021 focused on resource expansion in three of the five deposit areas delineated by the 2021 estimates. Similar wide and well-mineralized intervals have now been reported from all three deposit areas as announced December 20, 2021, and March 7, 2022. Mineralization remains open to expansion along trend and at depth in all five deposit areas, that are in the 12-kilometer-long resource area within the broader 32-kilometer-long land package in the lower Stillwater Igneous Complex (see Figure 2).

Group Ten Metals Inc. , Tuesday, May 3, 2022, Press release picture
Group Ten Metals Inc. , Tuesday, May 3, 2022, Press release picture

Live Webinar with Q&A

Group Ten President & CEO, Michael Rowley, will be joined by newly appointed Vice-President Exploration, Danie Grobler, for a live webinar on Wednesday, May 4th at 10am PT (1pm ET). To register click here or the thumbnail.

Highlights:

  • CM2021-05 returned 400.8 meters of continuous battery and precious metal mineralization grading 0.30% Nickel Equivalent (“NiEq”), equal to 0.80 g/t Palladium Equivalent (“PdEq”), with successive contained higher-grade intervals including 96 meters of 0.60% NiEq (1.56 g/t PdEq) and including 13.2 meters of 3.33% NiEq (8.88 g/t PdEq) as 2.31% Ni, 1.51 g/t Pd+Pt+Au+Rh (“4E”), 0.35% Cu and 0.115% Co starting at 37.6 meters. This is one of the widest high-grade intercepts ever recorded in the Stillwater district.
  • The results from CM2021-05 represent an important new discovery with the same distinctive signature of high-grade nickel sulphide, platinum group metals and gold as encountered in CM2020-04, which returned 8.5 meters of 1.74% NiEq (or 4.65 g/t PdEq) within a broad mineralized package located approximately 125 meters to the west. This zone remains open to further expansion with additional drilling.
  • CM2021-06 returned 0.26% NiEq (0.71 g/t PdEq) over 345.0 meters, including 75.4 meters of 0.37% NiEq, or 0.99 g/t PdEq, and a second, lower interval with 148.4 meters of 0.30% NiEq, or 0.79 g/t PdEq.
  • CM2021-04 returned 247.2 meters of 0.21% NiEq (0.57 g/t PdEq) mineralization including two long intervals at higher grades.
  • Results also continue to highlight the potential for significant co-product rhodium values at Stillwater West, with drill samples in Chrome Mountain holes CM2021-04, -05, and -06 up to 0.36 g/t Rh within the mineralized horizons. At recent values, rhodium trades at more than 16 times the value of platinum and 8 times the value of palladium on a spot price basis at over USD 16,000 per ounce. Sibanye-Stillwater, adjacent to Group Ten’s Stillwater West project, is the primary US producer. Supply constraints for rhodium have supported rising prices since 2017.
  • Assay results remain pending from five holes in the HGR deposit area at Iron Mountain and portions of holes CZ2021-01 and IM2021-04, in addition to rhodium assay results on a number of mineralized intervals reported to date.
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These results, in addition to results released March 7, 2022 and December 20, 2021, demonstrate significant potential to expand the October 2021 mineral resource estimates with multiple long intervals at grades well above the 0.20% NiEq cut-off grade used in that study (see bolded assay values on Table 1). Potential is also shown to expand existing resources at higher cut-off grades, such as 0.35% and 0.50% NiEq (red values and shaded rows, respectively, on Table 1). Moreover, as shown in Figures 1 to 4, these results provide important intercepts in step-out drill holes located up to several hundred meters from the resource estimate block models.

Dr. Danie Grobler, Group Ten’s Vice-President of Exploration, commented “I am excited to extend my experience obtained over the past two decades at the Platreef in the northern Bushveld Complex to Group Ten’s Stillwater West project. We see significant comparability with Platreef-style mineralization in the lower Stillwater Complex and in particular, early evidence of higher-grade Flatreef pegmatoidal-style mineralization targets within the project’s layered magmatic stratigraphy.”

Michael Rowley, President and CEO, commented, “The high-grade intercept in hole CM2021-05 is the latest in a series of exciting discoveries made by our team in the lower Stillwater complex through the development of a new predictive geologic model for this famously metal-rich district. This notable intercept demonstrates the same high tenor nickel sulphide mineralization as a similar interval in CM2020-04, 125 meters away, and is in an area that is completely outside of the current resource block model. It also represents one of the widest high-grade battery and precious metal intercepts to date in the Stillwater district. Further step-outs on this new target, situated between the existing DR and Hybrid deposit areas, are a priority for the coming season. Overall, we continue to see confirmation of a large mineralized system with an impressive endowment of eight of the commodities listed as critical by the US government. We look forward to reporting additional remaining drill results from the 2021 Iron Mountain drilling, exploration plans for 2022, and other news in the near term.”

Table 1 – Highlight Results from the 2021 Expansion Drill Campaign at the DR and Hybrid Deposit Areas

Group Ten Metals Inc. , Tuesday, May 3, 2022, Press release picture
Group Ten Metals Inc. , Tuesday, May 3, 2022, Press release picture

Highlighted significant mineralized intercepts are presented above. Grade-thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using long term metal prices (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.

Upcoming News and Events

Geological Survey of Nevada Symposium

Dr. Craig Bow will present recent findings in a technical session at the GSN Symposium May 4th in Reno, Nevada.

OTC Markets Metals and Mining Conference Virtual Conference

Michael Rowley will present on Thursday, May 5 at 10:30am PT (1:30PM ET). To register, click here.

Vancouver Resource Investment Conference

Group Ten will join fellow Metallic Group company members in Booth 111 at the 2022 VRIC event.

About Stillwater West

Group Ten 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 Group Ten 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. Group Ten’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 Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath 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 Group Ten Metals 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@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.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. 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 Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Group Ten Metals Inc.



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Base Metals Energy Exclusive Interviews Metallic Minerals Stillwater Critical Minerals

Group Ten Metals – Live from 2022 Roundup Conference

Group Ten Metals (TSX.V: PGE / OTCQB: PGEZF) is a Canadian mineral resource exploration company focused on the advancement of our flagship Stillwater West PGE-Ni-Cu project adjacent to the high-grade Stillwater mines in Montana, USA

Group Ten Metals Inc.

Suite 904 – 409 Granville Street
Vancouver, BC V6C 1T2

Tel: +1 (604) 357-4790
Toll Free: 1-888-432-0075 
Fax: +1 (604) 648-8573
Email: info@grouptenmetals.com

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

Group Ten Reports Highest Grade and Widest Mineralized Intercepts to Date at the Stillwater West Battery Metals and Platinum Group Elements Project in Montana, USA, Including 63.7 Meters of 0.92% Nickel Equivalent Mineralization (2.46 g/t Palladium Equivalent)

VANCOUVER, BC / ACCESSWIRE / December 20, 2021 / Group Ten Metals Inc. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “Group Ten”) today reports partial results from the first two drill holes of the 14-hole resource expansion campaign completed in 2021 at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA. Results are expected to form the basis of an updated resource estimate in 2022.

2021 Drill Highlights:

  • CZ2021-01 returned the widest high-grade intercept to date on the project being 63.7 meters of 0.92% Nickel Equivalent (“NiEq”), equal to 2.46 g/t Palladium Equivalent (“PdEq”), with 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 at 0.31% NiEq (or 0.83 g/t PdEq). See Table 1 for details.
  • CM2021-01 returned the longest mineralized intercept ever recorded in the Stillwater district with 728 meters of continuous sulphide mineralization at 0.27% NiEq, or 0.73 g/t PdEq, including contained intervals of successively higher grades:
    • 352.9 meters of 0.39% NiEq (or 1.04 g/t PdEq) with 0.52 g/t 3E (Pd, Pt, and Au), and 0.17% Ni, plus significant Cu and Co values;
    • 159.2 meters of 0.48% NiEq (or 1.29 g/t PdEq) with 0.77 g/t 3E, 0.18% Ni, plus significant Cu and Co values;
    • 50.2 meters of 0.54% NiEq (or 1.45 g/t PdEq) with 1.0 g/t 3E, 0.19% Ni, plus significant Cu and Co values; and
    • Shorter intervals of high-grade mineralization including 7.2 meters of 1.33 g/t Pd, 0.93 g/t Pt, and 0.24% Ni, plus significant Au, Cu, and Co values, for 1.02% NiEq (or 2.72 g/t PdEq).
  • Both holes are step-outs completed with the objective of expanding deposits delineated by the 2021 Mineral Resource Estimate announced on October 21, 2021:
    • CM2021-01 was one of six holes drilled in 2021 in the area between the DR and Hybrid deposits to step out from high-grade nickel sulphide-PGE mineralization identified in hole CM2020-04;
    • CZ2021-01 is one of two holes drilled in 2021 to step-out on the CZ deposit in the area of wide, high-grade mineralization returned in hole CZ2019-01.
  • Mineralization starts at or near surface in both holes.
  • Assay results are pending from the lowest portion of CZ2021-01, and from the remaining 12 holes drilled in 2021. Rhodium results are also pending on all holes.

Michael Rowley, President and CEO, commented, “These initial results from the first two holes of our 2021 resource expansion drill campaign provide the strongest demonstration to date of our ability to target highly mineralized zones at Stillwater West, with significant wide intervals reaching more than five times the cut-off grade used in our recent resource estimate. This is very clear evidence that our predictive geologic model, utilizing tools like deep penetrating induced polarization geophysics, is accurately and effectively guiding us to drill wide zones of higher-grade nickel-copper-cobalt sulphide mineralization (battery metals), enriched in palladium, platinum, rhodium (platinum group elements), and gold. In addition to driving increased size and grade in our planned resource update, our ability to target effectively as we step-out from known mineralization in a large magmatic system is delivering incredibly low discovery costs as we advance the project.”

“Our work to date has demonstrated the exceptional scale and potential of the mineralized system in the lower Stillwater Complex. These results confirm and refine that understanding with Chrome Mountain hole CM2021-01 returning nearly three-quarters of a kilometer of continuous mineralization from a site that is over seven kilometers west of the HGR deposit in the Iron Mountain area, where hole IM2019-03 previously held the record for highest grade-thickness. Both areas have additional very high grade-thickness intervals in drill results, as does the CZ deposit located between the two. All of this confirms our observation that the lower Stillwater Complex has an immense endowment of contained metal and yet is surprisingly underexplored, despite its location in a famously productive and well-mineralized American mining district. Our systematic approach to exploration has quickly delineated five resource-stage deposits that are open for expansion across the nine-kilometer core of the Stillwater West project and we will continue to focus on their expansion while also advancing earlier stage targets that continue across the 32 kilometers of prospective magmatic stratigraphy covered by the property. We look forward to announcing results from the remaining drill holes along with results of our 2021 IP expansion survey in the near term as they become available.”

Table 1 – Highlight Results from 2021 Expansion Drill Campaigns at the DR, Hybrid, and CZ Deposit Areas

Assays pending for rhodium and certain intervals denoted by *. Highlighted significant intercepts with grade-thickness values over 20 gram-meter PdEq are presented above. Grade thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using metals prices as follows (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.20% nickel equates to a copper value of 0.40%, or a palladium value of 0.53 g/t, using the above metal values. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.

Grade-Thickness

Grade-thickness values of the mineralized intervals continue to demonstrate the remarkable metal endowment of the lower Stillwater Complex, with both holes reported here being well above 100 gram-meter (“g-m”) palladium equivalent grade-thickness. CM2021-01 returned 530 g-m PdEq grade-thickness, which is a record high for the Stillwater Complex. For comparison, this equates to 596 g-m gold equivalent, 954 g-m platinum equivalent, or 199 %-meter nickel equivalent. Grade-thickness values are an exploration tool used for comparing the intensity of mineralization across different mineralized widths. A grade-thickness value of 10 gram-meter Pd is equivalent to 1 g/t Pd over 10 meters, or 10 g/t Pd over 1 meter and is considered economically significant. The adjacent J-M Reef deposit now mined by Sibanye-Stillwater averages approximately 34 gram-meter Pd and Pt1,2. Values over 100 g-m PdEq are considered exceptional, highlighting the strength of the mineralized system, and values of more than 250 g-m PdEq (or 281 g-m AuEq) are rare across the industry. To date, the Stillwater West project has returned 31 drill holes with over 50 g-m PdEq grade-thickness, including five with more than 250 g-m PdEq.

Upcoming News and Events

Group Ten is pleased to confirm that it will participate in the upcoming Vancouver Resource Investment, AME Roundup, and Prospectors and Developers Association conferences in Q1 2022.

About Stillwater West

Group Ten 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 Group Ten 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. Group Ten’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 9.2-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 Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

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

Web: http://grouptenmetals.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. 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 Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1 – 2021 Resource Expansion Drill Holes with Deposit Outlines over Drill Data and Geophysics (Conductivity)

Figure 2 – 2021 Resource Expansion Drill Holes with Deposit Outlines and Drill Data over Precious and Base Metals in Soils

Figure 3 – 2021 Mineral Resource Estimate over 9 KM Core Project Area with 3d Model of Ip Survey Results

SOURCE: Group Ten Metals Inc.



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