Group Ten Metals (TSX.V:PGE) (OTC:DCGCF) (FSE:5D32) (the “Company” or “Group Ten”) is pleased to announce it has entered an agreement to acquire a 100% interest in the Stillwater West project, consisting of 282 claims adjacent to, and contiguous with, Sibanye Gold’s Stillwater mine in south central Montana, USA.
Sibanye acquired the operation, which is the highest-grade platinum group element (PGE) producer in the world and the largest outside South Africa and Russia, through a US$2.2 billion acquisition of Stillwater Mining in May 2017.
Group Ten’s acquisition of the highly-prospective Stillwater West project positions the Company as the second-largest land holder in the Stillwater Igneous Complex. The acquisition includes a substantial exploration database that is currently under review by the Group Ten technical team. Updates on these efforts are expected in the coming weeks.
President and CEO Michael Rowley commented:
“We are excited to have secured such prospective ground in one of the premier PGE producing districts in the world, where Group Ten now holds the second largest position in the Stillwater complex. We are also pleased to have been able to concurrently retain local expertise and a substantial exploration database to guide our efforts there.
The Stillwater West project significantly expands our exposure to palladium and platinum, which continue to show strong fundamentals going forward. Palladium specifically has been a leader in the precious metals markets as one of the top performing commodities in 2017.”