Group Ten Metals plans to de-risk and expand resources in a well-mineralized district.
Group Ten Metals (TSXV:PGE,OTCQB:PGEZF,FWB:5D32) reported results from an induced polarization geophysical survey completed in 2021 at its 100 percent owned Stillwater West platinum-group elements-nickel-copper-cobalt and gold project in Montana, US. According to Group Ten Metals CEO Michael Rowley, the 2021 results are paving the way for the expansion of all the company's resources.
“We got high-grade results, battery metals and PGMs in a productive, world-class US district, and we are targeting more effectively than ever thanks to our predictive geologic model,” Rowley said.
"The expansion of the resources that we issued only just a few months before those recent drill results was a pivotal event for the company. Those 14 expansion drill holes tie into our priority for this year, which is the expansion of those inaugural resources debuted in October."
Stillwater is a big and well-mineralized district that has parallel literature with Africa’s Bushveld complex, according to Rowley. Group Ten Metals is the first to systematically go after some of the geologic models that have been brought forward in South Africa and apply them to Montana.
“If you look at the Platreef district of the Bushveld complex, there are hundreds of millions of ounces of platinum-group metals and tens of billions of pounds of sulfide nickel and copper," he said, "In Montana, there's 100 million ounces next door currently being mined by Sibanye-Stillwater, and I don't know how many Americans realize that it's a thing of beauty. It's the highest-grade platinum-group element deposit in the world that spans 40 kilometers and we are in the correct setting below that and stratigraphically to be pursuing this Platreef model. Those are the resources that we debuted back in October. And that's the expansion we're talking about now.”
Rowley added that the company’s flagship Stillwater district has been producing since the 1800s and revealed high-grade reef deposits in the exact same location. Stillwater has been productive for over 100 years, making it a great place to mine, according to the CEO.
“Our metals have been listed as critical by the US government," he said. "What comes next is refining those resources, upgrading them from inferred to indicated and then up ultimately to reserve status. We will be wrapping metallurgy studies around the other studies, and of course an expansion, which is number one for us. Everything is open for expansion. We feel that 1.1 billion pounds and 2.4 million ounces are robust to debut as that is just the beginning. We can say that very comfortably from what's in front of us.”
Watch the full interview of Group Ten Metals CEO Michael Rowley above.
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