Michael Rowley, president and CEO of Group Ten Metals, speaks with Maurice Jackson of Confirmed and Possible in regards to the outcomes of latest drilling on the Stillwater West challenge that delivered Platreef-grade mineralization.
Maurice Jackson: Becoming a member of us in the present day is Michael Rowley, president and CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE), which is thought for platinum, palladium, nickel, copper and cobalt within the Stillwater district in Montana.
Reader ought to be aware, Group Ten Metals is on sizzling streak so far as amount and high quality information stream! The corporate continues to ship thrilling outcomes and knowledge from the goal areas recognized on the 25-km flagship Stillwater West Venture. And what we’re seeing isn’t just mineralization, however fairly, high-grade mineralization. The workforce should be eagerly anticipating the upcoming exploration season. We simply featured Group Ten Metals on our program on the 20th of April and we invite you go to that dialogue on our web site provenandprobable.com.
Mr. Rowley, sorry if I stole a few of your thunder, however I am fairly impressed with the progress your workforce has and continues to make on the behalf of shareholders. The corporate launched a press launch on Could 7 relating to high-grade mineralization outcomes from the Iron Mountain goal. Earlier than you are taking us there, for first time listeners please introduce us to the Stillwater West Venture and the chance it presents for shareholders.
Michael Rowley: Thanks, Maurice, glad to be again. The passion is appreciated, and we share it. We’re certainly on a sizzling streak, and Stillwater West is driving that.
Group Ten is the one in all two corporations which might be lively within the Stillwater Complicated in Montana. The opposite one is Sibanye-Stillwater, an organization that was created when South African gold miner Sibanye purchased Stillwater Mining in 2017 for $2.2 billion. That firm operates three mines on one depositknown as the Johns-Manville or J-M Reef depositand it’s the highest-grade PGE deposit on the planet, and one of many largest, internet hosting 80 million ounces of platinum and palladium at over 16 grams per tonne grade. If you consider that for a minute, we get excited when gold deposits have 10 million ounces at a few grams per tonne. The J-M Reef deposit is eight occasions that measurement and in addition eight occasions that grade. And it’s open for enlargement. It’s a really implausible deposit, and it speaks to the quantity of steel that’s within the layered magmatic system at Stillwater.
Group Ten has a really massive land place that adjoins Sibanye-Stillwater throughout about 25 kilometers and covers the decrease portion of the Stillwater Complicated, and we even have claims above there within the layered geology.
Along with the land place, we’ve got additionally compiled a terrific database together with about 12,000 meters of bodily core, plus geochemical and geophysical surveys, and have attracted a world-class workforce that’s aware of new geologic fashions developed on the Platreef in South Africa, which is an identical layered magmatic advanced.
We’ve got now accomplished the preliminary section of information compilation and modeling work on the precedence goal areas and have issued a sequence of stories releases on these outcomes. All the things we’ve got carried out so far, together with our compilation and modeling work and our 2018 packages on the bottom, confirms the potential for a number of massive and really massive polymetallic platinum, palladium, nickel, copper and cobalt deposits at Stillwater. We’re calling these ”
Platreef-style” deposits based mostly on the similarities we see with the Platreef District in South Africa, which has turn into a world chief within the provide of low-cost platinum, palladium, nickel and copper provide for the reason that 1990s with the event of Anglo American’s Mogalakwena PGE-Ni-Cu Mine, and Ivanhoe’s Platreef PGE-Ni-Cu Mine that’s now below development. These are really large mines, and so they happen within the decrease a part of layered magmatic techniques.
That very same portion of the Stillwater Complicated has by no means been systematically examined for deposits of this sort, regardless that the geological parallels are well-known, the setting is appropriate, and each indication is there within the database, together with drill outcomes. That exploration course of was principally interrupted at Stillwater.
We took an enormous step ahead in 2018 when Dr David Broughton, a key member of the invention workforce at Ivanhoe’s Platreef challenge, joined our workforce and confirmed that potential at Stillwater West.
Maurice Jackson: Mr. Rowley, earlier than we delve into the press launch, can share the successes that Group Ten Metals has delivered thus removed from the 2018 drill targets?
Michael Rowley: The entire challenge has been successful from day 1 in the summertime of 2017. It simply retains unfolding and providing an increasing number of. At this level we’re in the midst of a sequence of stories releases to disclose what we’ve got discovered so far and lay out our precedence targets and plans for 2019. It is a large challenge with a big database, so we began on the west and have been working to the east, specializing in eight massive goal areas which have the potential to host “Platreef-style” deposits within the decrease Stillwater Complicated.
Maurice Jackson: You and I had an offline dialogue previous to the interview and also you referenced that Group Ten Metals has the three G’s. What are the three G’s and does Group Metals have the three G’s?
Michael Rowley: Geologists get excited when the “three G’s”geophysics, geochemistry, and geologycorrelate, and that’s principally how we developed these eight goal areas. In every goal we see kilometer-scale geophysical anomalies (i.e., areas of extremely conductive rocks) that correlate with massive areas of excessive ranges of metals in soils. And, the place we’ve got information, we see rock and drill information confirming that the conductive anomalies are certainly focusing on copper and nickel sulphide mineralization.
Three of the eight goal areas have a considerable quantity of previous drilling and are priorities for follow-up work in 2019: the Chrome Mountain, Camp Zone and Iron Mountain goal areas. We’ll talk about Iron Mountain and the present information launch in a minute, however the successes at Chrome Mountain and Camp Zone heart on recognized mineralized zones which might be open for enlargement by way of each grade and measurement based mostly on our information compilation and focusing on work. We see the potential to rapidly advance recognized mineralization to useful resource delineation stage at each areas.
Maurice Jackson: Michael, take us now to the Iron Mountain Goal, which simply launched some thrilling high-grade polymetallic outcomes. I need to start with some historic context. What did we all know in regards to the goal space previous to drilling?
Michael Rowley: Properly, we knew that the Iron Mountain goal space was probably the most superior at Stillwater West. We knew it was mined traditionally for high-grade nickel, copper and different commodities, like different components of the Stillwater West challenge. And we knew it had glorious protection by soil geochemistry research. Our early compilation work confirmed a 2.9-kilometer-wide conductive excessive anomaly in geophysical survey outcomes, which is the proper measurement of footprint for a Platreef-style deposit. It additionally has the most important drill database, which supplies quite a lot of invaluable info to information our drill packages.
Maurice Jackson: Quick ahead to final week’s press launch, please share with us what Group Ten Metals found.
Michael Rowley: This was a pivotal press launch for us as a result of it studies Platreef grades for all of our goal metals over lengthy intervals in drill holes which might be over 100 meters aside. As well as we start to debate our plans to drill at Stillwater, together with the potential we see to advance among the extra superior areas rapidly to useful resource delineation stage.
The outcomes of our compilation work, mixed with our 2018 work program, shocked us. We knew the world had good grades in drill outcomes, however the proximity and orientation of those hits in relation to one another, and to the geophysical and soil anomalies, was an eye-opener. The HGR goal specifically delivered true, Platreef-grade mineralization over lengthy intervals, in a number of holes inside an space of 750m x 400m that’s open for enlargement in direction of an untested conductive excessive to the east and alongside a magmatic layer with recognized very high-grade samples to the west.
We’ve got various holes drilled within the 1970s by AMAX that focused nickel and copper sulphides within the basal zone. These holes had been usually about 250 meters lengthy however weren’t systematically assayed for PGEs or different minerals. After which we’ve got holes drilled within the 2000s that had been shallow, usually lower than 100 meters, however embody full assay information for all components. We’re the primary to mannequin these outcomes from totally different eras collectively, and produce geophysics and geochemistry into the identical systematic focusing on course of.
Probably the greatest holes is IM2002-07, which returned eight meters of three.65 g/t Pt+Pd+Au beginning at floor, plus zero.16% mixed nickel and copper, and important cobalt. That grade is instantly similar to grades now being mined in South Africa.
Then contemplate the truth that that drill gap was drilled about 60 meters away from a 1970s gap, 355-62, that returned 221 meters of comparable, truly barely greater mixed nickel and copper grade at zero.19%, however with no PGE information.
And there are two extra glorious holes from the 1970s about 150 meters away that additionally present probably minable nickel and copper grades, once more with out PGE information: 33.5 meters of zero.77% Ni and zero.65% Cu in gap 355-59, after which in 355-64 we’ve got 26.eight meters at zero.98% Ni and zero.45% Cu inside a broader interval that returned a whopping 259.1 meters grading zero.25% Ni and zero.20% Cu beginning at 15.2 meters depth, and ending in mineralization.
That second gap, quantity 355-64, is especially attention-grabbing as a result of we’ve got some restricted palladium information that studies 2.7g /t in that higher-grade interval. This might simply be four g/t whole PGE, based mostly on ratio of platinum to palladium that we see elsewhere within the space.
These outcomes inform us that there’s a lot of steel on this system, and that the conductive excessive anomalies are efficiently focusing on nickel and copper sulphide mineralization that’s enriched in PGEs and cobalt. At HGR, the previous outcomes are probably minable “as is,” even earlier than testing the conductive excessive to the east, or the world of a seize pattern which returned three choose of PGE to the west.
These are precedence targets for drilling, and we are actually working up our plans in that regard. Did the outcomes meet or exceed the corporate’s expectations?
These outcomes exceeded our expectation, and set the stage for very thrilling exploration packages in 2019 as we work to carry recognized grades along with the scale potential that we see in these outcomes.
Maurice Jackson: Sir, what’s the subsequent unanswered query for Group Ten Metals, when ought to count on outcomes, and what determines success?
Michael Rowley: Outcomes of continued work on different goal areas can be ongoing, however maybe extra importantly we are actually finalizing our precedence targets and planning drill packages, and can be releasing particulars on these within the coming weeks. These are large targets, and we’ve got a terrific base to construct upon. I feel it is going to be an thrilling yr.
Maurice Jackson: Switching gears, Mr. Rowley, what would you prefer to say to present and potential shareholders relating to the worth proposition of Group Ten Metals juxtaposed to the present share value?
Michael Rowley: I’ve a three-part reply to that query.
First, junior mining shares current an ideal worth alternative lately as a result of we’re actually undervalued relative to our goal commodities and various different metrics. Group Ten’s market cap is about $eight million at current, and but we’ve got nice belongings in three really world-class districts. That’s most obvious at Stillwater the place we’re sharing very uncommon geology and a famously metal-rich district with an asset that’s valued at practically $three billion.
One other vital consideration regarding Group Ten’s worth is the truth that we’re centered on an American asset at a time when the U.S. is recognizing a must safe provides of strategic and important metals inside its borders. We noticed this previously week relating to power metals and previously yr with a broader listing that included PGEs. The Stillwater district has among the very best geology on the planet for various the commodities listed, together with nickel, cobalt, platinum, and palladium, and we’re proper there beside three lively mines.
And the final consideration is that we’ve got some belongings that we do not get a lot worth for available in the market, and we’ve got been clear that we’re working to monetize these to be able to deal with advancing Stillwater West. For instance, we just lately introduced the signing of an LOI in direction of the sale of one in all our Yukon belongings, the Extremely challenge, the place we obtain money, shares and exploration work. We’ve got curiosity in our different non-core belongings as effectively, and are following up on that. And, initiatives apart, we’ve got about $2.5 million in warrants which might be within the cash. These are callable, and we’ve got seen various workout routines just lately, which supplies us with money to maintain the pre-season machine turning.
Maurice Jackson: Final query, sir, what did I overlook to ask?
Michael Rowley: Properly, let’s contact on The Metallic Group for a minute, as Group Ten is one in all three growth-stage exploration corporations that share an workplace and observe the identical philosophy. All three corporations consolidated high-quality initiatives in high-grade brownfields districts via the bear market cycle and are actually making use of greater and extra trendy geologic fashions to these belongings. Metallic Minerals sees potential for billion-ounce silver deposits by making use of Couer d’Elene pondering to the Yukon’s iconic Keno Silver District. And our latest firm, Granite Creek Copper, has consolidated the Stu copper-gold property within the Yukon to use fashions developed on the neighboring initiatives.
All three corporations have been strategically based round nice belongings by skilled groups, and are very effectively positioned so as to add actual worth this exploration season and past.
Maurice Jackson: For info on The Metallic Group of Firms, please go to its web site (right here).
For readers who need to get extra info on Group Ten Metals, the web site tackle is www.grouptenmetals.com. And as a reminder Group Ten Metals trades on the TSX-V: PGE and on the OTCQB: PGEZF. For direct inquiries please contact Chris Ackerman at 604-357-4790 ext. 1 and he may additionally be reached at [email protected].
As a reminder, Group Ten Metals is a sponsor and we’re proud shareholders for the virtues conveyed in to in the present day’s interview.
Lastly, please go to our web site provenandprobable.com, the place we offer mining insights and bullion gross sales, you could attain at [email protected]
Michael Rowley of Group Ten Metals, thanks for becoming a member of us in the present day on Confirmed and Possible.
Maurice Jackson is the founding father of Confirmed and Possible, a website that goals to counterpoint its subscribers via schooling in valuable metals and junior mining corporations that can enrich the world.[NLINSERT]
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