Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced in a news release that 2020 drill results for the Chrome Mountain target at Stillwater West show "the potential for multiple, large-scale, bulk-tonnage 'Platreef-style' horizons of battery metals and platinum group elements (PGEs) within the lower Stillwater complex."
The company reported that the program's five holes, drilled over 1,822 meters, intercepted 120 to 530 meter long intervals of continuous nickel and copper sulphide mineralization containing palladium, platinum, gold and cobalt beginning at or near surface. Rhodium, lacking in mine supply outside of South Africa and Russia, was seen in every hole. The holes also hit "higher-higher-grade intervals over widths of 50 to 150 meters in addition to more selective high-grade intervals."
For instance, hole CM2020-04 "returned strong mineralization across its entire length, with 455 meters of 1.13 g/t total platinum equivalent (Pt eq), or 0.25% total nickel equivalent (Ni eq)." Intervals included two 8.5m-long horizons of 8.20 g/t total Pt eq (1.79% total Ni eq) within a broader intercept of 54m of 2.58 g/t total Pt eq (0.57% total Ni eq).
"Our 2020 drill campaign exceeded our expectations, not only expanding drill-defined mineralization and driving the resource modeling effort at the priority Chrome Mountain target area, but also identifying multiple new well-mineralized horizons that feature wide intervals of battery metals, PGEs, and gold in previously untested areas. The high-grade nickel sulphide intercepts in hole CM2020-04 are particularly exciting as they represent very high nickel tenor horizons in a new discovery that is open for expansion," President and CEO Michael Rowley said in the release.
Noteworthy intercepts encountered in hole CM2020-05 were 149m of 1.19 g/t total Pt eq (0.26% total Ni eq), including 11.6m of 2.80 g/t total Pt eq.
Starting at surface, hole CM2020-01 returned 533m of 0.76 g/t total Pt eq (0.17% total Ni eq) for a total Pt eq grade thickness of 405 gram meters. This interval included 130m of 0.96 g/t total Pt eq (0.21% total Ni eq).
Now, Group Ten is incorporating these Chrome Mountain results into three-dimensional block models as it is doing for the previously drilled HGR and Camp targets. The company noted that it plans to release a maiden resource estimate for all three areas by the middle of this year.
"This was our first test of a fraction of the targets identified in our 77 line-kilometer 2020 IP geophysical survey, and the success of this program is a strong demonstration of its effectiveness in targeting new discoveries with both grade and scale. The results also speak to the extraordinary size and potential of the lower Stillwater complex, with impressive 'Platreef-style' battery metal and PGE mineralization in each hole featuring intercepts that are hundreds of meters in width. The strategic importance of a U.S.-based large-scale battery metal asset like Stillwater West to contribute towards the growing needs of manufacturers like Tesla while also supplying PGEs to emerging fuel cell manufacturers in North America leverages the value of this critical resource. We look forward to further announcements including our plans for 2021, which we anticipate will include our largest exploration program to date, and the delivery of maiden resource estimates, currently targeted for summer 2021," Rowley concluded.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Group Ten Metals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Group Ten Metals, a company mentioned in this article.
