Group Ten Reports 7.1
g/t
Platinum,
Palladium, and Gold in Early
Results at Stillwater West, Announces Arrival of Drill
Vancouver,
BC, Canada -- August 5, 2020 -- InvestorsHub NewsWire -- Group Ten
Metals Inc. (TSX.V: PGE; OTC: PGEZF; FSE: 5D32) (the "Company" or "Group
Ten") is pleased to provide an exploration update from its flagship
Stillwater West platinum group element, nickel, copper, cobalt, and
gold ("PGE-Ni-Cu-Co + Au") project in Montana,
USA, including the start of an Induced Polarization ("IP")
geophysical survey, arrival of the drill rig and crew, and assay results
from geological mapping programs completed in the past weeks at
earlier stage targets.
Highlights:
Titan
Drilling's crew and drill have arrived at Stillwater West and are
preparing to start work at the Discovery target at Chrome Mountain.
Discovery is one of three priority target areas where the Company
is now advancing drill-defined mineralized zones towards maiden NI
43-101 mineral resources.
Simcoe
Geoscience commenced work in late July on a planned 66
line-kilometer IP geophysical survey. The
survey will focus on the most advanced target areas - Discovery,
Pine, Camp and HGR - with coverage extending from known mineralized
zones into adjacent targets to refine and focus expansion drilling
planned to immediately follow the survey.
Group Ten's
2020 exploration program is targeting world-class polymetallic
deposits of precious and battery metals in a famously productive
and metal-rich mining district which supports the highest grade
palladium-platinum mines in the world, and a smelter and refinery
complex,
in the USA. The Company's work to
date has demonstrated potential for bulk tonnage
"Platreef-style" deposits of nickel
and copper sulphide
that
host palladium, platinum,
rhodium, gold, and cobalt within the lower Stillwater
complex, based on known parallels with South Africa's Bushveld
complex.
The Company is
also prioritizing advancement of drill-defined high-grade gold
mineralization at the Pine target, building on the
expanded
potential for high-grade gold across the 25-kilometer Stillwater
West project, as announced recently
in news
releases on May 13th
and
29th,
2020.
Geological mapping and
prospecting programs have been underway since June at
earlier-stage targets. Early
results have returned high-grade precious metal values in rock
samples from the Blakely target area, including
7.10 g/t
3E (4.25 g/t Pt, 1.97 g/t Pd, and 0.88 g/t Au) in
sample 3191471.
Blakely,
located at the western end of the Stillwater West project, is one
of four new kilometer-scale targets announced on May 13, 2020. These early
results show significant PGE-Ni-Cu-Co + Au mineralization in
apparent Peridotite Zone rocks, within coincident
conductive and soil geochemical anomalies that show significant
potential for size.
Michael Rowley,
President and CEO, commented, "We are pleased to announce the
arrival of the drill to Stillwater West for what is expected to be our
largest exploration
program yet as
we target precious and battery metals, including high-grade
gold, in a famously productive district. Drilling will focus on the
most advanced target areas and will be preceded in each area
by an IP
geophysical
survey that is now underway at the Discovery
target.
These two exploration methods are expected to form a powerful
combination as we expand from known mineralization into untested
adjacent targets defined by coincident and high-level soil and
conductive anomalies. In addition, we are active with smaller
programs at less advanced targets and our first campaign of the
year has already returned high-grade precious metals results from
the Blakely target, a target that was first announced in May. It is an
exciting time for the Company as we are well funded and have
permits in
place to
begin to fully test and expand upon our "Platreef-in-Montana"
model, based on known similarities with the Bushveld Complex. We
look forward to providing additional news from Stillwater West as
we work to expand known mineralization and convert drill-defined
mineralized zones to mineral resources in the most advanced target
areas."
FIGURE 1 –
Four Priority Target Areas (Pine, Discovery, Camp, and HGR) and the
Early-Stage Blakely Target Across the
25-Kilometer Stillwater
West Project
About
Stillwater West
The Stillwater
West PGE-Ni-Cu-Co + Au project positions Group
Ten as the second-largest landholder in the Stillwater Complex,
adjoining and adjacent to Sibanye-Stillwater's Stillwater, East
Boulder, and Blitz PGE mines in south-central Montana,
USA1.
The Stillwater Complex is recognized as one of the top regions in
the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld
Complex and Great Dyke in southern Africa, which are similar
layered intrusions. The J-M Reef, and other PGE-enriched
sulphide
horizons in the
Stillwater Complex, share many similarities with the highly
prolific Merensky and UG2 Reefs in the Bushveld Complex. At the
same time, the lower part of the Stillwater Complex also shows the
potential for much larger scale disseminated and
high-sulphide
PGE-Ni-Cu-Co
deposits, similar to
Platreef
in the Bushveld
Complex2.
Group Ten's Stillwater West project covers the lower part of the
Stillwater Complex along with the Picket Pin PGE Reef-type deposit
in the upper portion and includes extensive historic data,
including soil and rock geochemistry, geophysical surveys, geologic
mapping, and historic drilling.
About
Group Ten Metals Inc.
Group
Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration
company focused on the development of high-quality platinum,
palladium, nickel, copper, cobalt, and gold exploration assets in
top North American mining jurisdictions. The Company's core asset
is the Stillwater West PGE-Ni-Cu project adjacent to
Sibanye-Stillwater's high-grade PGE mines in Montana, USA. Group
Ten also holds the high-grade Black Lake-Drayton Gold project
adjacent to Treasury Metals' development-stage
Goliath-Goldlund
project
in northwest Ontario, and the Kluane PGE-Ni-Cu-Co
project
on trend with Nickel Creek Platinum's Wellgreen
deposit
in Canada's Yukon Territory.
About the
Metallic Group of Companies
The
Metallic Group is a collaboration of leading precious and base
metals exploration companies, with a portfolio of large, brownfield
assets in established mining districts adjacent to some of the
industry's highest-grade producers of silver and gold, platinum and
palladium, and copper. Member companies include Metallic Minerals
in the Yukon's high-grade Keno Hill silver district and La Plata
silver-gold-copper district of Colorado, Group Ten Metals in the
Stillwater PGM-nickel-copper district of Montana, and Granite Creek
Copper in the Yukon's Minto copper district. The founders and team
members of the Metallic Group include highly successful
explorationists formerly with some of the industry's leading
explorers/developers and major producers. With this expertise, the
companies are undertaking a systematic approach to exploration
using new models and technologies to facilitate discoveries in
these proven, but under-explored, mining districts. The Metallic
Group is headquartered in Vancouver, BC, Canada, and its member
companies are listed on the Toronto Venture, US OTC, and Frankfurt
stock exchanges.
Note
1: References to adjoining properties are for illustrative
purposes only and are not necessarily indicative of the exploration
potential, extent, or nature of mineralization or potential future
results of the Company's projects.
Note 2:
Magmatic Ore Deposits in Layered Intrusions—Descriptive Model for
Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael
Zientek,
USGS Open-File Report 2012–1010.
FOR
FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley,
President, CEO & Director
Email:
info@grouptenmetals.com
Phone: (604) 357 4790
Web:
http://grouptenmetals.com
Toll Free: (888) 432 0075
Quality
Control and Quality Assurance
Field samples were analyzed by
ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg)
up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild
steel) to 95% passing 105 µm included cleaner sand. Gold, platinum,
and palladium were analyzed by fire assay (1C-OES) with ICP finish.
Selected major and trace elements were analyzed by peroxide fusion
with 8-Peroxide ICP-OES finish to insure complete dissolution
of resistate minerals.
Mr. Mike
Ostenson, P.Geo., is the qualified person
for the purposes of National Instrument 43-101, and he has reviewed
and approved the technical disclosure contained in this news
release.
Forward-Looking
Statements
Forward Looking
Statements: This news release includes certain statements that may
be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts including,
without limitation, statements regarding potential mineralization,
historic production, estimation of mineral resources, the
realization of mineral resource estimates, interpretation of prior
exploration and potential exploration results, the timing and
success of exploration activities generally, the timing and results
of future resource estimates, permitting time lines, metal prices
and currency exchange rates, availability of capital, government
regulation of exploration operations, environmental risks,
reclamation, title, and future plans and objectives of the Company
are forward-looking statements that involve various risks and
uncertainties. Although Group Ten believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Forward-looking statements are based on a number of material
factors and assumptions. Factors that could cause actual results to
differ materially from those in forward-looking statements include
failure to obtain necessary approvals, unsuccessful exploration
results, changes in project parameters as plans continue to be
refined, results of future resource estimates, future metal prices,
availability of capital and financing on acceptable terms, general
economic, market or business conditions, risks associated with
regulatory changes, defects in title, availability of personnel,
materials and equipment on a timely basis, accidents or equipment
breakdowns, uninsured risks, delays in receiving government
approvals, unanticipated environmental impacts on operations and
costs to remedy same, and other exploration or other risks detailed
herein and from time to time in the filings made by the companies
with securities regulators. Readers are cautioned that mineral
resources that are not mineral reserves do not have demonstrated
economic viability. Mineral exploration and development of mines is
an inherently risky business. Accordingly, the actual events may
differ materially from those projected in the forward-looking
statements. For more information on Group Ten and the risks and
challenges of their businesses, investors should review their
annual filings that are available at
www.sedar.com.
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.