VANCOUVER, BC / ACCESSWIRE / April 13, 2021 / Group Ten Metals Inc. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the "Company" or "Group Ten") is pleased to announce the appointment of Gordon Toll as an Independent Director.
Mr. Gordon Toll is a mining engineer with over 50 years of global mining industry experience as an entrepreneur and developer of large mining operations. His distinguished career in the mining industry has also involved acquisitions and new business development, startups, and public company leadership. Mr. Toll's senior leadership positions with major companies include commercial and technical executive positions with BHP Billiton, Rio Tinto, Atlantic Richfield and Texasgulf. He was also a founder of Ferrous Resources in Brazil, which is now a subsidiary of Vale, Deputy Chairman of Ivanhoe Mines, and Chairman of Fortescue Metals Group.
Mr. Toll is recognized for his fund-raising abilities for mining projects around the world and has been directly involved with raising over US$5 billion during his recent career. Currently, he manages private investment companies which include Braemar Infrastructure Pty Ltd, which has received Major Development status from the South Australian Government and is proposing a multi‐purpose infrastructure corridor for the Braemar Region.
A mining engineering graduate from the University of Queensland, Mr. Toll also holds a Master's degree in Business Science from Columbia University.
Gordon Toll, Director, commented, "I am greatly impressed by the work that has been done at Stillwater West by Group Ten Metals and am very pleased to be part of the team. Large magmatic systems with a history of successful production, such as the Stillwater Complex, are very scarce in nature. The rapidly developing potential for Stillwater West to provide bulk tonnage battery and platinum group metals, which have been identified as critical metals by the US government, has significant value implications".
President & CEO, Michael Rowley commented, "We are very pleased to announce Gordon Toll's appointment to Group Ten's Board of Directors as an Independent Director. Mr. Toll's extensive understanding of the industry, including direct experience in the Stillwater and Bushveld Complexes, will benefit us greatly during this important phase of the Company's growth. Our work to date has confirmed the potential for world-class deposits of battery metals and platinum group elements (PGEs) in the Stillwater Complex, a premier US mining district that is the largest source of PGEs outside South Africa and Russia. We look forward to announcing our exploration drill targets and objectives for 2021 in the very near term. The Company is also working on its first resource estimates for Stillwater West with release targeted for mid-2021".
The Company further announces it has granted 250,000 incentive stock options (the "Options") to certain Directors, Officers, employees and consultants of the Company. The Options are exercisable for up to five years, expiring on April 13, 2026, and each Option will allow the holder to purchase one common share of the Company at a price of $0.38 per share.
About Stillwater West
The Stillwater West PGE-Ni-Cu-Co + Au project positions Group Ten as the second-largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater's Stillwater, East Boulder, and Blitz PGE mines in south-central Montana, USA1. 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 Complex3. Drill campaigns by the Company, complemented by a substantial drill database, are driving 3D models of Platreef-style mineralization in the five most advanced target areas, three of which are expected to become formal mineral resources by mid-2021. Multiple earlier-stage Platreef-style and reef-type targets are being advanced across the rest of the 31-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and historic 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: Based on Sibanye-Stillwater's 2018 Mineral Resources and Mineral Reserves Report.
Note 3: 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: [email protected] Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075
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.