VANCOUVER, BC / ACCESSWIRE / April 8, 2020 / Group Ten Metals Inc. (TSXV:PGE)(OTC:PGEZF)(FSE:5D32) (the "Company" or "Group Ten") is pleased to provide an update on target generation and geological modelling work underway by Group Ten geologists in collaboration with GoldSpot Discoveries Inc. ("GoldSpot") at the Company's flagship Stillwater West PGE-Ni-Cu project in Montana, USA.
Application of GoldSpot Discoveries' Advanced Technologies
GoldSpot Discoveries is a mining-focused technology company that is working with some of the leading exploration and mining names in the industry to apply cutting edge artificial intelligence ("AI") algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot on both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology1,2.
At Stillwater West, GoldSpot's work has focused on integrating and modeling more than a dozen geologic, geochemical and geophysical data layers in order to quantify and differentiate mineralization suites, alteration assemblages, and lithological groups within the magmatic layers of the Stillwater complex, with a focus on bulk-tonnage "Platreef-style" deposits.
The objective of this data-driven prospectivity analysis is to develop robust targeting vectors towards areas of stronger mineralization to aid with target evaluation and prioritization for future drill testing.
Michael Rowley, President and CEO of Group Ten, commented, "We are very pleased with the preliminary results from our collaboration with GoldSpot at our Stillwater West PGE-Ni-Cu project. Goldspot's innovative AI techniques are particularly relevant as we have multiple target areas across 25 kilometers of broadly mineralized magmatic stratigraphy, and a substantial database to build on. Their work, in tandem with our technical team's extensive knowledge of the Stillwater Complex and similar layered mafic intrusions globally, has added to our ability to quickly and cost-effectively target "Platreef-style" deposits, with zones of higher grade nickel and copper sulphide mineralization, tens to hundreds of meters thick, that are enriched in palladium, platinum, gold, rhodium, and cobalt. Preliminary results are generating compelling drill targets that have not yet been tested. We look forward to providing further updates as we continue to release results from our 2019 programs, advance drill-defined mineralization towards the delineation of formal mineral resources, and announce our plans for the year ahead."
Denis Laviolette, Chief Executive Officer and President of GoldSpot, said, "We are very optimistic for the potential results from our collaboration with Group Ten. Bringing our teams and tools together to examine such a prolific district and robust dataset is helping to shape new interpretation and understanding of why mineralization occurs where it does, and where we should focus exploration attention moving forward."
Drill Core Rock Property Measurement Program
In addition to ongoing block model work and reporting of results from 2019 programs, work at Stillwater West in the first quarter of 2020 has focused on acquisition of advanced rock property measurements on drill core for use in targeting new mineralization. The Stillwater West team has gathered thousands of readings on drill core from 14 holes across four target areas including magnetic susceptibility, conductivity/resistivity, chargeability, density, and hyperspectral response in order to identify and subsequently model the unique geophysical properties of different types and styles of mineralization in mineralized zones.
Dr. Craig Bow, Chief Geologist, stated "We are pleased with the results from our work this spring that demonstrate for the first time the utility of hyperspectral data collected from ultramafic rocks of the Stillwater Complex. In addition to giving us valuable information with respect to original rock types, we now have quantitative measures of subsequent alteration patterns in host rocks and associated mineralization that will support upcoming exploration campaigns. This new data will improve our core logging and facilitate comparison and correlation of drill data with surface mapping results across the property."
Upcoming News and 2020 Exploration Plans
Group Ten expects to provide further news in the coming weeks including exploration, targeting and geological modelling results from the Stillwater West PGE-Ni-Cu property, and updates on the Company's Yukon PGE-Ni-Cu and Ontario gold projects.
The Company is monitoring recommendations and guidance in all communities in which we operate and has implemented precautionary measures to reduce the risks associated with the spread of COVID-19 including reduced travel and in-person meetings for all personnel. The Company's current focus on target development and modeling efforts are proceeding via work-from-home protocols following social distancing procedures.
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 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 in the Rainy River district of northwest Ontario and the Kluane PGE-Ni-Cu 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, brownfields 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 explorer/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.
References
- GoldSpot Discoveries news release "GoldSpot and Yamana Gold Collaboration Results in Improved Exploration Targeting at El Peñón", released February 27, 2020
- GoldSpot Discoveries news release "GoldSpot Discoveries AI-Targeted Drilling Discovers New Zone Containing 19.0m of 92.86 gpt Au in Newfoundland, Canada", released January 28, 2020
FOR FURTHER INFORMATION, PLEASE CONTACT:
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Michael Rowley, President, CEO & Director |
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Quality Control and Quality Assurance
Mr. Mike Ostenson, P.Geo., is the qualified person for the Stillwater West project 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.
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.
SOURCE: Group Ten Metals Inc.