May 13, 2020 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is pleased to announce 2019 soil geochemistry results from the Boulder and Wild West target areas of the Company’s flagship Stillwater West Platinum Group Element (“PGE”)-Ni-Cu project in Montana, USA.
This is the fourth in a series of planned news releases to report results of 2019 exploration programs which focused on the advancement of drill-defined mineralized zones at five priority target areas. Subsequent news releases will report results from geological mapping and sampling programs completed in 2019, plus ongoing modelling work, and rhodium assays from drill and field samples.
Highlights of the 2019 soil survey results include:
- Identification of four new, kilometer-scale areas of highly elevated palladium, platinum, gold, nickel, and copper in soil with precious metal values up to 1.16 g/t Pt, 0.46 g/t Pd, and 0.47 g/t Au in soil;
- The new soil anomalies - Boulder, Blakely, Pegmatoid Ridge and Gold Ridge - are associated with and proximal to conductive high anomalies identified in electromagnetic (“EM”) geophysical surveys;
- Similar coincident geochemical and geophysical anomalies are demonstrated in the more advanced areas of the Stillwater West project, with drill-defined mineralized zones; and
- Work in 2019 resulted in a significant expansion of the gold potential of the Wild West target area with both the Pegmatoid Ridge and Gold Ridge anomalies returning highly anomalous gold in soil results up to two kilometers away from drill-defined high-grade gold mineralization at the Pine Shear Zone target.
Michael Rowley, President and CEO, commented, “The results of the 2019 soil survey are compelling for two reasons. First, we have significantly expanded the known extent of mineralization and identified four robust new targets in the Boulder and Wild West target areas, with high levels of palladium, platinum, gold, nickel, and copper in soils suggesting a strongly mineralized system. These new soil anomalies, proximal to conductive high anomalies shown in geophysical surveys, are made even more compelling by their similarity with our most advanced target areas where we are now advancing drill-defined mineralized zones towards maiden resources. Second, two of these new anomalies show high levels of gold in soil, expanding the gold potential of the Wild West target area by up to two kilometers from drill-defined high-grade gold mineralization at the Pine Shear Zone. We look forward to reporting additional results from our 2019 program in the coming weeks, along with our exploration plans for 2020.”
FIGURE 1 – Main Target Areas Across the 25-Kilometer Width of the Stillwater West Project
2019 Soil Survey
The 2019 soil survey completes coverage at the Pine Shear Zone and extends west across the Boulder and Wild West target areas, covering a total of eight square kilometers (see Figures 1, 2, and 3). It is contiguous with earlier soil surveys compiled by Group Ten (first reported January 10, 2018), resulting in combined coverage that extends over 20 kilometers strike length across the project. A total of 1,316 soil samples were collected at 25 meter sample spacing and 200 meter line spacing across the ultramafic and basal series of the Stillwater Complex. Soil geochemistry has been demonstrated to be a highly effective exploration tool in the Stillwater district because mineralization starts at or near surface.
The Boulder and Wild West Target Areas
The Boulder and Wild West target areas are two of the eight multi-kilometer-scale target areas that have been identified as having potential for large-scale deposits of nickel and copper sulphide enriched in palladium, platinum, gold and cobalt (see Figure 1). Both are defined by multi-kilometer-scale conductive high anomalies (Figure 4) and have known mineralization reported in geological sampling and mapping results and limited drilling to date. Mineralization at the Boulder and Wild West target areas sits stratigraphically below the world-class J-M Reef deposit along what is believed to be the same stratigraphic horizons as those that host the advanced stage bulk tonnage targets at Group Ten’s Chrome Mountain, Camp, and Iron Mountain target areas. The J-M Reef deposit is now being mined by Sibanye-Stillwater at three locations, adjacent to the Stillwater West project1.
Exploration work in the Boulder and Wild West target areas has focused on the southeastern edge of the conductor at the Pine Shear Zone where 22 drill holes targeted high-grade gold and PGE mineralization along with nickel, copper, and cobalt. These holes inform the Company’s developing block model in the area, which is one of the five priority targets with drill-defined mineralized zones being advanced towards formal mineral resources by Group Ten at Stillwater West. Highlight drill results from 1983 at the Pine Shear Zone include:
- 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters in hole PC-5; and
- 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters in hole PC-2
Mineralization at the Pine Shear Zone occurs in a gold- and PGE-enriched, structurally controlled shear zone hosted within chromite-rich ultramafic stratigraphy. Rock sampling by Group Ten in 2018 returned palladium grades of over 10 g/t and gold results up to 21.8 g/t at the Pine Shear Zone. More detail on these target areas is available in the Company’s January 25, 2019 news release.
2019 Survey Results
The 2019 soil survey successfully completed coverage of the Pine Shear Zone target in order to further refine the target for follow-up drilling. Results from the 2019 soil survey also defined four new kilometer-scale areas of highly elevated palladium, platinum, gold, nickel, and copper in soils (see Figures 2 to 5):
- Boulder: 1.2-kilometer-long soil anomaly which is coincident with a conductive high geophysical anomaly. Very limited past work in the area includes drill hole BR-2 from 1979 which reported three intervals grading between 0.42% to 1.5% combined nickel plus copper but were not assayed for PGE or gold values, and 0.57% combined nickel and copper, plus 0.117% cobalt, in a rock sample;
- Blakely: 1.0-kilometer-long soil anomaly which is proximal to a conductive high geophysical anomaly. Multiple rock samples in the area returned values up to 5 g/t PtEq;
- Pegmatoid Ridge: Approximately one square kilometer soil anomaly which is coincident with a conductive high geophysical anomaly. In addition to elevated palladium, platinum, nickel and copper in soils, Pegmatoid Ridge returned very high gold results of up to 500 ppb Au in soil approximately two kilometers northwest of drill-defined high-grade gold at the Pine Shear Zone; and
- Gold Ridge: 1.5-kilometer-long soil anomaly which is proximal to a conductive high geophysical anomaly and contiguous to the east with the Pine Shear Zone. Like Pegmatoid Ridge, Gold Ridge returned high gold in soil results in 2019. Rock chip sampling in 2018 returned values up to 11.53 g/t 3E (as 1.24 g/t Pt, 10.05 g/t Pd, and 0.23 g/t Au) in the ultramafic series.
These soil anomalies indicate a robust mineralized system and provide exciting new targets in the Boulder and Wild West target areas, which are early stage outside of the more advanced Pine Shear Zone target. The new targets are believed to occupy the same stratigraphic horizons, and with a similar footprint - coincident geochemical and geophysical anomalies with confirmation of target mineralization in rock and limited drill results - as seen at more advanced target areas where Group Ten has confirmed significant, drill-defined “Platreef-style” PGE-Ni-Cu mineralization. The Company will further explore these new palladium, platinum, gold, nickel, and copper targets in subsequent campaigns.
Group Ten will also follow-up high-grade gold mineralization in the Wild West target area, which expanded from the Pine Shear Zone to include Pegmatoid Ridge and Gold Ridge as a result of the 2019 survey. Additional results from these target areas are pending.
Upcoming News and Events
Group Ten is pleased to announce that it will be presenting at the Metals Investor Forum in an online webinar format on Thursday May 14, 2020. Interested parties are invited to register or learn more here.
About Stillwater West
The Stillwater West PGE-Ni-Cu 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 platinum group elements (“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 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, while the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-Ni-Cu deposits, possibly similar to Platreef in the Bushveld Complex2. Group Ten’s Stillwater West property 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 in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu 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, brownfields 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 explorer/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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Quality Control and Quality Assurance
2004 drilling was conducted by Group Ten’s QP while working for Premium Exploration. 1983 drill results (PC series holes) are considered historic and have not been independently verified by Group Ten.
Assay data for drillhole BR-2 was obtained graphically from a 1979 Anaconda Copper Company map by G.F. Willis and J. Bielak.
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: 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.
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