November 12, 2020 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is pleased to announce the start of a till and rock sampling program at the 100%-owned Black Lake–Drayton gold project, which adjoins Treasury Metals’ recently consolidated Goliath-Goldlund gold project in the Rainy River district of northwest Ontario, Canada.
- A 2020 work program, focused on till and rock sampling, is now underway to advance previously identified high-grade gold targets;
- Till sampling has successfully identified significant high-grade gold deposits in similar conditions and related geology in the Sioux Lookout Deformation Zone, and in the broader Rainy River gold belt, where the method played a key role in identifying New Gold’s Rainy River mine;
- Results to date at Black Lake-Drayton have shown potential for discovery of a high-grade gold system between historic high-grade drill and bulk sample programs at the Moretti Zone to the northeast and the Shaft target to the southwest, in a 15-kilometer-long area that has been historically underexplored due to pervasive, shallow ground cover;
- The wholly-owned 137km2 Black Lake–Drayton project has over 30 km of under-explored strike length in a growing world-class gold belt that hosts more than 10 Moz of high-grade gold to date; and
- The current work program has been planned with input from potential partners on the project.
President and CEO Michael Rowley said, “We are pleased to return to Black Lake–Drayton to expand upon the success of recent campaigns which validated the use of orientation entropy anomalies in target generation and returned positive results in our first till sampling program. Since that time, the district has seen significant advancement with increasing recognition of the potential for new discoveries and resource expansion in an under-explored yet productive high-grade jurisdiction. The Company continues to receive expressions of interest from potential strategic partners for the Black Lake-Drayton project with a view to continuing our focus on our flagship Stillwater West battery and platinum group metals project in Montana. We look forward to reporting results from all programs in the near term, including drill results from our 2020 campaign at Stillwater.”
About the Black Lake–Drayton Project
The 100%-owned Black Lake-Drayton project consists of more than 137 km2 and over 30 km of under-explored strike length in the Abrams–Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province. This highly active gold belt is host to a number of well-known deposits including Goliath-Goldlund (Treasury Metals), and Rainy River (New Gold), both of which have seen substantial recent expansions. Since the development of the Rainy River deposit, 10 Moz of gold has been discovered in the belt (Figure 1).
The Black Lake–Drayton project includes a database with more than 20 historic occurrences, multiple high-grade bulk samples, and over 127 drill holes, in addition to geological, geochemical and geophysical data. Although 43% of past drill holes intercepted gold or copper mineralization, they did not adequately test the mineralized zones which are now better understood in the area. Much of the project remains untested, despite the success of neighbouring deposits with similar geology.
As reported March 25, 2019, Group Ten’s first till sampling program identified pristine gold grains with a demonstrated correlation between the density of these grains and geophysical (orientation entropy) anomalies in a new target area with pervasive shallow overburden. The results are very compelling given the extensive shallow ground cover in the region and the number of significant high-grade occurrences elsewhere on the property, as well as in the broader district, including New Gold’s Rainy River Mine and Treasury Metals’ Goliath-Goldlund project. Till sampling of this type played a significant role in the discovery of the Rainy River deposit, which in turn brought attention to the entire district.
On a regional scale, the project is located in the Abrams–Minnitaki Lake greenstone belt which is south of and parallel to the Birch–Uchi belt, another Archean greenstone belt that is home to a number of high-grade gold producers including Evolution Mining’s Red Lake mine, and Great Bear’s Dixie project. Despite its proximity to the Red Lake area and the Birch–Uchi belt, the Abrams–Minnitaki greenstone belt remained under-explored into the 1990s due to persistent ground cover and limited road access. In the past two decades, new roads and improved exploration techniques have led to the delineation of multiple multi-million-ounce high-grade gold reserves and resources on numerous projects in the belt.
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-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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Quality Control and Quality Assurance
Ms. Debbie James, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and she 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 of 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, titlefuture driling actiivities and the locations of such drilling, 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.