Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is pleased to announce results of rhodium analyses from rock samples and drill core from the Company’s flagship Stillwater West platinum group element, nickel, copper, cobalt (“PGE-Ni-Cu-Co”) project in Montana, USA.
This is the sixth in a series of planned news releases to report results of exploration programs that focused on the advancement of drill-defined mineralized zones at five multi-kilometer-scale priority target areas. Subsequent news releases will report results from ongoing modelling work, update on work at reef target areas, and announce plans for 2020 field exploration programs.
• A reconnaissance-scale program was conducted on drill and rock samples from target areas up to ten kilometers west of Iron Mountain where Group Ten reported rhodium results of up to 5.78 g/t Rh at the HGR target;
• Multiple rock samples from the 2019 campaign returned high-grade rhodium assays, including 1.07 g/t Rh at the Bald Hills target, 0.541 g/t Rh at the Pine Target, and 0.572 g/t Rh and 0.492 g/t Rh at the Dunite Ridge target, in addition to the high-grade palladium, platinum and gold values reported previously;
• Analysis of drill core from the Iron Mountain and Camp target areas also demonstrated significant co-product potential with intervals ranging up to 0.167 g/t Rh;
• The rhodium results from Dunite Ridge and Bald Hills are considered particularly significant as both targets also yielded multiple samples with high-grade platinum and palladium. These targets have been tested with just one drill hole to date, with hole CM-2008-06 returning highly anomalous palladium, platinum, and gold mineralization of up to 2 g/t 3E over 0.91 meter in a shallow (152-meter total depth) test at Bald Hills. Dunite Ridge has not been drill tested to date;
• Rhodium grade was observed to correlate with platinum and palladium content, and also with chromite content, similar to both the UG2 and Flatreef deposits in South Africa’s Bushveld complex;
• Rhodium is a rare platinum group element that is primarily used alongside platinum and palladium in automotive catalytic converters. The total global rhodium market was about 1.1 million ounces in 2019, with 746,000 ounces supplied from mines plus additional metal from recycling operations. Supply was insufficient to end a persistent multi-year supply deficit, and prices rose to more than USD 11,000 per ounce in February and March 2020; and
• Rhodium production from North American mines is small, with South Africa producing about 80% of the world’s supply and Russia accounting for much of the remainder. Like palladium, rhodium is produced solely as a co-product from platinum and nickel mines. Mine grades range up to approximately 0.5 g/t Rh at maximum, with many producers at much lower grades.
Michael Rowley, President and CEO, commented, “We are very pleased to confirm potentially significant values of rhodium in multiple target areas at Stillwater West. Our work targeting this rare and very valuable metal in 2019 not only identified grades that are significantly above the majority of current mine grades, but also identified a potential source of the metal in North America at a time when the US is looking to secure domestic supplies of platinum group elements. At current prices, 0.5 g/t of rhodium is equivalent to more than 5 g/t of platinum, so it quickly adds value as a potential co-product. We now have a much better understanding of the occurrence of rhodium in the lower Stillwater complex, and can target it accordingly in future campaigns based on the success of this program. Stillwater West continues to yield exciting results starting with the broad intercepts of exceptional PGE-Ni-Cu-Co grades reported previously and, more recently, high-grade gold and rhodium results. We look forward to providing further news including updates on 3D modelling work at the most advanced target areas in addition to summaries of our work at reef-type targets, and our plans and expectations for the 2020 field season at Stillwater.”
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Für weitere Informationen:
Group Ten Metals Inc.
President, CEO & Director
Tel. 1-604-357 4790
Im deutschsprachigen Raum:
73728 Esslingen am Neckar
Tel. +49-711-82 09 72 11
Fax +49-711-82 09 72 15
Quelle: Group Ten Metals