In a news release, Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) announced it acquired the Stillwater East project in Montana, significantly expanding its land position in the district.
Stillwater East, a platinum group elements-nickel-copper-cobalt-gold project sits 8 kilometers to the east and along strike of the company's flagship Stillwater West project. The additional acreage takes Group Ten's holdings to about 61 square kilometers and 32 kilometers of strike and makes the Canadian mineral resource explorer the second largest landholder in the Stillwater district, the company noted.
"We are extremely pleased to have been able to add this highly prospective land package to our holdings in the Stillwater district, where our systematic approach to exploration continues to demonstrate the presence of multiple "Platreef-style" horizons with bulk tonnage mineralization along with higher-grade Reef-type zones. Like our flagship Stillwater West property, Stillwater East shows potential to host significant deposits of key battery metals and platinum group metals, at a time when the U.S. government has listed five of our target commodities—nickel, cobalt, platinum, palladium and rhodium—as critical minerals with the intention of increasing domestic production," President and CEO Mike Rowley said in the release.
Surface grab samples taken in 2020 from rock at Stillwater East show high grades of nickel and copper, up to 0.886% nickel and up to 0.662% copper, along with 0.405 g/t 3E (platinum-palladium-gold). These results confirm the potential for Platreef-style mineralization at the property, according to the company.
The company is waiting for the final assay results from the 2020 drill program at Stillwater West.
Group Ten Metals also presented its goals for 2021. This year it aims to accomplish four primary objectives. One is to complete a maiden resource estimate for Stillwater West's three most advanced target areas: Chrome Mountain (Discovery), Camp and Iron Mountain (HGR).
A second goal is to develop three-dimensional models of mineralization at to additional target areas, "including high-grade gold at the Pine target, and Platreef-style mineralization at the Crescent target area."
Third, the company aims to extend "drill-defined mineralization at all five advanced target areas into untested adjacent anomalies."
Finally, Group Ten plans to realize value from its Black Lake-Drayton project in Ontario and its Kluane project in the Yukon.
Rowley will discuss the company's 2021 plans and recent progress when he participates in the upcoming Metals Investor Forum, at 9:50am PST on Jan. 15.[NLINSERT]
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