RCS - Group Ten Metals Inc - Group Ten Drills 63.7M of 0.92% NiEq in Montana

Iron MountainAnnouncement

20/12/2021 13:30

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RNS Number : 1675W  Group Ten Metals Inc.  20 December 2021

Group Ten Reports Highest Grade and Widest Mineralized Intercepts to Date at
the Stillwater West Battery Metals and Platinum Group Elements Project in
Montana, USA, Including 63.7 Meters of 0.92% Nickel Equivalent Mineralization
(2.46 g/t Palladium Equivalent)

VANCOUVER, BC / ACCESSWIRE / December 20, 2021 / Group Ten Metals Inc.
(TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "Group Ten") today
reports partial results from the first two drill holes of the 14-hole resource
expansion campaign completed in 2021 at the Company's flagship Stillwater West
PGE-Ni-Cu-Co + Au project in Montana, USA. Results are expected to form the
basis of an updated resource estimate in 2022.

2021 Drill Highlights:

·      CZ2021-01 returned the widest high-grade intercept to date on the
project being 63.7 meters of 0.92% Nickel Equivalent ("NiEq"), equal to 2.46
g/t Palladium Equivalent ("PdEq"), with 0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and
0.04% Co as well as significant Pt and Au values, within 367.6 meters of
continuous mineralization at 0.31% NiEq (or 0.83 g/t PdEq). See Table 1 for
details.

·      CM2021-01 returned the longest mineralized intercept ever
recorded in the Stillwater district with 728 meters of continuous sulphide
mineralization at 0.27% NiEq, or 0.73 g/t PdEq, including contained intervals
of successively higher grades:

o  352.9 meters of 0.39% NiEq (or 1.04 g/t PdEq) with 0.52 g/t 3E (Pd, Pt,
and Au), and 0.17% Ni, plus significant Cu and Co values;

o  159.2 meters of 0.48% NiEq (or 1.29 g/t PdEq) with 0.77 g/t 3E, 0.18% Ni,
plus significant Cu and Co values;

o  50.2 meters of 0.54% NiEq (or 1.45 g/t PdEq) with 1.0 g/t 3E, 0.19% Ni,
plus significant Cu and Co values; and

o  Shorter intervals of high-grade mineralization including 7.2 meters of
1.33 g/t Pd, 0.93 g/t Pt, and 0.24% Ni, plus significant Au, Cu, and Co
values, for 1.02% NiEq (or 2.72 g/t PdEq).

·      Both holes are step-outs completed with the objective of
expanding deposits delineated by the 2021 Mineral Resource Estimate announced
on October 21, 2021:

o  CM2021-01 was one of six holes drilled in 2021 in the area between the DR
and Hybrid deposits to step out from high-grade nickel sulphide-PGE
mineralization identified in hole CM2020-04;

o  CZ2021-01 is one of two holes drilled in 2021 to step-out on the CZ
deposit in the area of wide, high-grade mineralization returned in hole
CZ2019-01.

·      Mineralization starts at or near surface in both holes.

·      Assay results are pending from the lowest portion of CZ2021-01,
and from the remaining 12 holes drilled in 2021. Rhodium results are also
pending on all holes.

Michael Rowley, President and CEO, commented, "These initial results from the
first two holes of our 2021 resource expansion drill campaign provide the
strongest demonstration to date of our ability to target highly mineralized
zones at Stillwater West, with significant wide intervals reaching more than
five times the cut-off grade used in our recent resource estimate. This is
very clear evidence that our predictive geologic model, utilizing tools like
deep penetrating induced polarization geophysics, is accurately and
effectively guiding us to drill wide zones of higher-grade
nickel-copper-cobalt sulphide mineralization (battery metals), enriched in
palladium, platinum, rhodium (platinum group elements), and gold. In addition
to driving increased size and grade in our planned resource update, our
ability to target effectively as we step-out from known mineralization in a
large magmatic system is delivering incredibly low discovery costs as we
advance the project."

"Our work to date has demonstrated the exceptional scale and potential of the
mineralized system in the lower Stillwater Complex. These results confirm and
refine that understanding with Chrome Mountain hole CM2021-01 returning nearly
three-quarters of a kilometer of continuous mineralization from a site that is
over seven kilometers west of the HGR deposit in the Iron Mountain area, where
hole IM2019-03 previously held the record for highest grade-thickness. Both
areas have additional very high grade-thickness intervals in drill results, as
does the CZ deposit located between the two. All of this confirms our
observation that the lower Stillwater Complex has an immense endowment of
contained metal and yet is surprisingly underexplored, despite its location in
a famously productive and well-mineralized American mining district. Our
systematic approach to exploration has quickly delineated five resource-stage
deposits that are open for expansion across the nine-kilometer core of the
Stillwater West project and we will continue to focus on their expansion while
also advancing earlier stage targets that continue across the 32 kilometers of
prospective magmatic stratigraphy covered by the property. We look forward to
announcing results from the remaining drill holes along with results of our
2021 IP expansion survey in the near term as they become available."

Table 1 - Highlight Results from 2021 Expansion Drill Campaigns at the DR,
Hybrid, and CZ Deposit Areas

To See Image: Click Here
(https://www.accesswire.com/users/newswire/images/678533/image-4.png)

Assays pending for rhodium and certain intervals denoted by *. Highlighted
significant intercepts with grade-thickness values over 20 gram-meter PdEq are
presented above. Grade thickness values cover significant mineralized
intervals with total palladium and nickel equivalent grade-thickness
determined by multiplying the thickness of continuous mineralization (in
meters) by the palladium equivalent grade (in grams/tonne) to provide
gram-meter values (g-m) or by multiplying the nickel equivalent grade (in
percent) to provide percent-meter values as shown. Total nickel and palladium
equivalent calculations reflect total gross metal content using metals prices
as follows (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb
cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz
gold (Au). Equivalent values have not been adjusted to reflect metallurgical
recoveries. Total metal equivalent values include both base and precious
metals. In terms of dollar value, 0.20% nickel equates to a copper value of
0.40%, or a palladium value of 0.53 g/t, using the above metal values.
Intervals are reported as drilled widths and are believed to be representative
of the actual width of mineralization.

Grade-Thickness

Grade-thickness values of the mineralized intervals continue to demonstrate
the remarkable metal endowment of the lower Stillwater Complex, with both
holes reported here being well above 100 gram-meter ("g-m") palladium
equivalent grade-thickness. CM2021-01 returned 530 g-m PdEq grade-thickness,
which is a record high for the Stillwater Complex. For comparison, this
equates to 596 g-m gold equivalent, 954 g-m platinum equivalent, or 199
%-meter nickel equivalent. Grade-thickness values are an exploration tool used
for comparing the intensity of mineralization across different mineralized
widths. A grade-thickness value of 10 gram-meter Pd is equivalent to 1 g/t Pd
over 10 meters, or 10 g/t Pd over 1 meter and is considered economically
significant. The adjacent J-M Reef deposit now mined by Sibanye-Stillwater
averages approximately 34 gram-meter Pd and Pt(1,2). Values over 100 g-m PdEq
are considered exceptional, highlighting the strength of the mineralized
system, and values of more than 250 g-m PdEq (or 281 g-m AuEq) are rare across
the industry. To date, the Stillwater West project has returned 31 drill holes
with over 50 g-m PdEq grade-thickness, including five with more than 250 g-m
PdEq.

Upcoming News and Events

Group Ten is pleased to confirm that it will participate in the upcoming
Vancouver Resource Investment, AME Roundup, and Prospectors and Developers
Association conferences in Q1 2022.

About Stillwater West

Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project
towards becoming a world-class source of low-carbon, sulphide-hosted nickel,
copper, and cobalt, critical to the electrification movement, as well as key
catalytic metals including platinum, palladium and rhodium used in catalytic
converters, fuel cells, and the production of green hydrogen. Stillwater West
positions Group Ten as the second-largest landholder in the Stillwater
Complex, with a 100%-owned position adjoining and adjacent to
Sibanye-Stillwater's PGE mines in south-central Montana, USA(1). The
Stillwater Complex is recognized as one of the top regions in the world for
PGE-Ni-Cu-Co 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. Group Ten's work in the lower Stillwater Complex has demonstrated the
presence of large-scale disseminated and high-sulphide battery metals and PGE
mineralization, similar to the Platreef in the Bushveld Complex(2). Drill
campaigns by the Company, complemented by a substantial historic drill
database, have delineated five deposits of Platreef-style mineralization
across a core 9.2-kilometer span of the project, all of which are open for
expansion into adjacent targets. Multiple earlier-stage Platreef-style and
reef-type targets are also being advanced across the remainder of the
32-kilometer length of the project based on strong correlations seen in soil
and rock geochemistry, geophysical surveys, geologic mapping, and 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-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 Gold Complex 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.

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, brownfield 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 explorers/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.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for
Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS
Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: info@grouptenmetals.com (mailto:info@grouptenmetals.com) Phone: (604)
357 4790

Web: http://grouptenmetals.com (https://pr.report/KBIw70GR) Toll Free: (888)
432 0075

Quality Control and Quality Assurance

2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample
preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g)
and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold,
platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish.
Selected major and trace elements were analyzed by peroxide fusion with
8-Peroxide ICP-OES finish to insure complete dissolution of resistate
minerals. Following industry QA/QC standards, blanks, duplicate samples, and
certified standards were also assayed.

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

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 (https://pr.report/5J2TB6aD) .

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

Figure 1 - 2021 Resource Expansion Drill Holes with Deposit Outlines over
Drill Data and Geophysics (Conductivity)

To See Image: Click Here
(https://www.accesswire.com/users/newswire/images/678533/image-1.png)

Figure 2 - 2021 Resource Expansion Drill Holes with Deposit Outlines and Drill
Data over Precious and Base Metals in Soils

To See Image: Click Here
(https://www.accesswire.com/users/newswire/images/678533/image-2.png)

Figure 3 - 2021 Mineral Resource Estimate over 9 KM Core Project Area with 3d
Model of Ip Survey Results

To See Image: Click Here
(https://www.accesswire.com/users/newswire/images/678533/image-3.png)

SOURCE: Group Ten Metals Inc.

 

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