Overview
The push for a greener financial system has led the American and Canadian governments to establish greater than 30 minerals as important commodities. The US authorities has known as for the event of a neighborhood provide chain of sure important minerals –– together with battery and platinum-group metals –– which might be wanted to satisfy the surging demand from inexperienced power wants.
In terms of sourcing battery and platinum group metals, one kind of deposit stands out as a key goal. Platreef-style deposits are large in scale and have disseminated nickel and copper sulfide mineralization that’s enriched with platinum-group components (“PGE”), gold, chrome, and extra. These happen stratigraphically under the high-grade reef-style deposits sometimes related to South African PGE mines that are the dominant international supply of platinum group metals. Whereas these reef deposits are slender and require high-cost selective mining strategies, the extensive widths of Platreef-style deposits are amenable to low-cost bulk tonnage mining strategies, leading to a lot decrease working prices. For instance, Ivanhoe Mines’ (TSE:IVN) Platreef mine in South Africa is anticipated to be one of many largest and lowest price platinum-group metals mines on the earth at greater than 1.1 million ounces of palladium, platinum, rhodium and gold manufacturing per yr. Anglo American’s large Mogalakwena mine and Platinum Group Metals’ Waterberg venture deliver the overall endowment of the Platreef to over 400Moz PGEs, and tens of billions of kilos of nickel and copper, plus different minerals.
In the present day, Ivanhoe Mines’ Platreef mine has an indicated mineral useful resource estimate of 42 million ounces of platinum, palladium, rhodium, and gold, plus 3.66 billion kilos of nickel and copper, in a compelling and engaging mixture of battery and platinum group metals that’s comparatively uncommon. A growth-stage exploration firm that shares this Platreef deposit model in a politically secure jurisdiction just like the US would current an thrilling alternative for traders, significantly in mild of the federal authorities’s quest to safe home provide of those important components.
Group Ten Metals (TSXV:PGE, OTCQB:PGEZF, FWB:5D32) is a Canadian mineral exploration firm centered on advancing its large-scale flagship Stillwater West platinum, palladium, nickel, copper, cobalt and gold venture in Montana, USA. The venture is positioned within the iconic Stillwater Complicated of Montana, USA, a uncommon world-class magmatic system that’s geologically just like the Bushveld Complicated in South Africa which hosts the Flatreef, Mogalakwena and Waterberg deposits in addition to quite a few high-grade platinum deposits inside the Merensky and UG2 reefs. Equally, the Stillwater district hosts Sibanye-Stillwater, presently working the world’s highest grade PGE mines alongside the analogous J-M reef, in addition to Group Ten’s Stillwater West venture.
Dr. David Broughton, former Chief Geologist for Ivanhoe Mines and co-recipient of AME BC’s 2016 Colin Spence Award for Excellence in World Mineral Exploration for Ivanhoes’ Flatreef discovery acknowledged in 2018 that “the popularity of a Platreef setting within the Stillwater district is an thrilling improvement.”
In October 2021, Group Ten introduced an inaugural NI 43-101 mineral useful resource estimate for the Stillwater West venture which delineated a complete of 1.1 billion kilos of nickel, copper and cobalt with 2.4 million ounces of palladium, platinum, rhodium and gold. The useful resource estimate was performed in a constrained mannequin totaling 157 million tonnes at a mean grade of 0.45 p.c complete nickel equal (equal to 1.20 g/t palladium equal) utilizing a 0.20 p.c nickel equal cut-off grade.
The preliminary useful resource estimate relies on 5 deposits inside essentially the most superior 9-kilometer core venture space, lower than one-third of the venture’s general strike size. The corporate sees wonderful continuity and growth potential and is focusing its efforts on increasing the inaugural assets inside the core space whereas additionally advancing earlier stage targets throughout the 32-kilometer span of the venture, which covers the identical extremely potential magmatic stratigraphy because the core space.
Group Ten accomplished its largest exploration program thus far in 2021, with drill outcomes anticipated to type the premise of an up to date 43-101 useful resource estimate within the first half of 2022. Assays from the primary two holes of the 14-hole marketing campaign had been introduced in December and included the widest high-grade mineralized intercepts ever seen at Stillwater West. These first outcomes had been highlighted by 63.7 meters of 0.92 p.c nickel equal (2.46 g/t palladium equal) on the CZ deposit and 728 meters of steady sulphide mineralization at 0.27 p.c NiEq, or 0.73 g/t PdEq on the Chrome Mountain goal, which included contained intervals of successively increased grades.
Assays from the remaining 12 holes are anticipated to be introduced over Q1 2022, adopted by publication of an up to date 43-101 useful resource estimate.
The corporate is led by a succesful administration staff with greater than 100 years of company and exploration expertise with junior and main corporations. Group Ten Metals’ exploration and improvement staff has in depth expertise in top-tier districts such because the Stillwater and Bushveld districts.
Group Ten Metals holds extra district-scale secondary belongings which it’s in search of to monetize. The corporate lately introduced an earn-in deal on its Black Lake-Drayton venture, a high-grade gold venture positioned in Ontario, Canada. Black Lake-Drayton is located within the Wet River gold district which hosts main mines and initiatives in an space that has expanded quickly because the Nineteen Nineties together with a number of current discoveries. The Black Lake-Drayton venture adjoins Treasury Metals’ (TSX:TML) lately consolidated Goliath Gold complicated with greater than 3 million ounces of gold. The venture is positioned in the identical greenstone belt as New Gold’s (TSX:NGD) Wet River venture which has greater than six million ounces of gold, and is roughly 100km south of Nice Bear’s Dixie gold venture.
The corporate’s Kluane Ni-Cu-PGE venture in Canada’s Yukon Territory positions Group Ten with the most important land place within the Kluane Mafic-Ultramafic Belt, a big magmatic system that extends by the Yukon from northern British Columbia to central Alaska that hosts numerous PGE-Ni-Cu deposits. The Kluane venture properties are every inside 15km of the Alaska Freeway and located on development with, and south of, the Nickel Shaw (previously Wellgreen) deposit, one of many largest undeveloped PGE-Ni-Cu initiatives in North America at 6 Moz of Pt+Pd+Au and three Blbs of Ni+Cu in M&I assets and an extra 2 Moz of Pt+Pd+Au and 1 Blbs of Ni+Cu in Inferred assets. Though earlier stage than the corporate’s flagship Stillwater West venture, the Kluane venture exhibits wonderful potential with large sulfide mineralization returning as much as 3.1 g/t of platinum, 1.4 g/t of palladium, 1.0 g/t of gold, 3.1 p.c of nickel, 2.8 p.c of copper and 0.2 p.c of cobalt on the Spy declare block. Farther south, the Extremely declare block has trenching outcomes of as much as 5.5 g/t of platinum, 13.5 g/t of palladium, 0.5 g/t of gold, 4.1 p.c of copper and 1.7 p.c of nickel from an ultramafic sill.
The corporate is presently assessing and evaluating monetization methods for the Kluane venture.
Firm Highlights
- Group Ten Metals has the second-largest landholding within the Stillwater Complicated in Montana, USA, adjoining to Sibanye-Stillwater’s mine complicated.
- The corporate’s 100%-owned flagship Stillwater West venture is district-scale in dimension, overlaying a uncommon and world-class magmatic system that hosts 5 minerals which might be listed as important by the US authorities.
- The Stillwater West venture options Platreef-style deposits of battery and treasured metals with distinctive growth potential, and likewise high-grade gold.
- Stillwater West has a major inferred NI 43-101 mineral useful resource estimate of two.4 million ounces of palladium, platinum, rhodium and gold in addition to 1.1 billion kilos of nickel, copper and cobalt.
- Group Ten Metals lately introduced a deal whereby Heritage Mining could earn a 90% curiosity within the firm’s Black Lake-Drayton gold venture within the prolific Wet River gold district in Ontario, Canada, by assembly particular exploration, improvement, and fee necessities.
- The corporate’s wholly-owned Kluane venture is a district-scale, extremely potential platinum-group factor, nickel and copper venture positioned beside one of many largest undeveloped PGE-Ni-Cu deposits on the earth within the Kluane mafic-ultramafic belt in Yukon, Canada.
- Group Ten Metals’ exploration and improvement staff has in depth expertise in top-tier districts such because the Stillwater and Bushveld districts.
- The corporate is effectively capitalized and absolutely permitted, with no debt.
Key Initiatives
Stillwater West
The flagship Stillwater West venture has demonstrated assets of nickel, copper, palladium, platinum, gold, chromium, cobalt, gold, and rhodium, and is positioned within the state of Montana in the US of America. At 61 sq. kilometers, the property is a district-scale asset that covers the decrease Stillwater Igneous Complicated adjoining to Sibanye-Stillwater Ltd.’s mine complicated that features three mines plus additionally concentrator, smelter, and refinery operations. The Stillwater Igneous Complicated is a big layered magmatic system that’s geologically just like the Bushveld Igneous Complicated in South Africa. For instance, Sibanye-Stillwater’s J-M Reef deposit – the highest-grade main PGE deposit on the earth, and the most important outdoors of South Africa and Russia – is positioned in the identical stratigraphic location as the nice reef-type mines within the Bushveld Igneous Complicated. The large mines of the Platreef are positioned stratigraphically under these reef-type deposits, therefore Group Ten’s give attention to the decrease portion of comparable layered magmatic geology in Montana.
Group Ten’s dedication paid off when it debuted an inaugural NI43-101-compliant mineral useful resource estimate of Platreef-style mineralization in October 2021 on the wholly owned venture, proving its “Platreef-in-Montana” mannequin. The bottom case mineral useful resource estimate consists of 157 million at 0.45 p.c nickel equal, or 1.20 palladium equal, for contained steel of 694 million kilos of nickel, 347 million kilos of copper, 69 million kilos of cobalt, 758,000 ounces of platinum, 1,314,000 ounces of palladium, 61,000 ounces of rhodium and 303,000 ounces of gold. The venture additionally options a number of kilometer-scale targets with wonderful potential to broaden the venture’s present assets into untested adjoining areas as guided by a number of coincident anomalies proven in geophysical and geochemical surveys, and a database of greater than 100 drill holes that lie outdoors of the useful resource areas.
Regardless of its location in a traditionally productive and famously metal-rich US district, the venture is taken into account underexplored. Group Ten’s systematic strategy has now demonstrated the potential of the venture to host each scale and grade, and the corporate believes that the present assets have distinctive growth potential. Group Ten Metals expects to have full outcomes from the remaining 12 holes drilled as a part of its 2021 useful resource growth drill marketing campaign by February 2022 and plans to replace its inaugural useful resource estimates as quickly as doable after that. Extra catalysts embody potential agreements on secondary belongings, and updates on ESG and metallurgy work, together with the potential to include carbon sequestration at Stillwater West. Group Ten Metals will proceed to leverage its substantial database and predictive geological mannequin at Stillwater West to take care of its low price of discovery and advance the asset in a well timed method.
Kluane
The fully-owned Kluane venture has demonstrated platinum-group components, nickel and copper mineralization and is positioned in Yukon in Canada. The venture is accessible by freeway. The property is positioned within the Kluane mafic-ultramafic belt that hosts recognized platinum-group components, nickel and copper deposits. The belt is house to the multi-million-ounce Wellgreen deposit which is without doubt one of the largest platinum-group components, nickel and copper initiatives in North America. The Kluane venture options comparable geology to the most important recognized platinum-group, nickel and copper deposits, together with the Bushveld and Stillwater complexes.
The Kluane venture consists of the Spy, Extremely and Catalyst properties. The Spy property adjoins to and is on development with Nickel Creek Platinum’s superior Nickel Shaw platinum-group factor and nickel venture. The Spy property has large sulfide mineralization with assays as much as 3.1 g/t of platinum, 1.4 g/t of palladium, 1.0 g/t of gold, 3.1 p.c of nickel, 2.8 p.c of copper and 0.2 p.c of cobalt. The Extremely property has trenching outcomes of as much as 5.5 g/t of platinum, 13.5 g/t of palladium, 0.5 g/t of gold, 4.1 p.c of copper and 1.7 p.c of nickel from an ultramafic sill.
The corporate is presently within the strategy of assessing and evaluating monetization methods for the Kluane venture. Group Ten Metals additionally plans to conduct floor exploration to broaden the recognized mineralization and refine the targets on the property.
Black Lake-Drayton
The Black Lake-Drayton venture is a high-grade gold venture positioned in Northwestern Ontario in Canada. The 137-square-kilometer property is located within the Wet River gold district which hosts greenstone belts, main mines and initiatives. The venture is accessible by street and is close to rail and energy. The Black Lake-Drayton venture adjoins Treasury Metals Inc.’s lately consolidated Goliath Gold complicated which hosts greater than three million ounces of gold. The venture can also be positioned close to New Gold Inc.’s Wet River venture which has greater than six million ounces of gold.
The Black Lake-Drayton venture has high-grade gold demonstrated in a 127-hole database and historic bulk samples. Nonetheless, the venture is taken into account comparatively underexplored and has seen little systematic exploration throughout its 30-kilometer size. Of specific notice, it has not seen the applying of geologic fashions developed extra lately elsewhere in the identical Archean greenstone belt, which is now hosts over 14 million ounces of high-grade gold and is house to a number of current discoveries. Archean greenstone belts host a few of the world’s largest and highest-grade gold mines, together with the world-class Purple Lake mines.
In November 2021, Group Ten Metals signed a definitive settlement that granted Heritage Mining the suitable to earn as much as a 90 p.c curiosity within the venture. To finish the earn-in, Heritage Mining should full funds of seven.2 million shares and $320,000 in money, exploration work of $5 million, and grant Group Ten Metals a ten p.c carried curiosity by to a feasibility examine. Group Ten additionally positive factors as much as $10 million in discovery bonuses at $1 per ounce of gold or gold equal.
Heritage Mining has superior 4 precedence goal areas at Black Lake-Drayton that present potential for multi-million-ounce high-grade gold deposits, along with different compelling earlier-stage targets.
Management Crew
Michael Rowley – President, CEO and Director
Michael Rowley has over 25 years of govt expertise within the exploration, mineral processing and mine environmental industries. Rowley’s expertise consists of capital markets, acquisitions, venture improvement, administration and exploration operations. Rowley is a co-founder of Group Ten Metals in addition to a director. Rowley is presently lively in different publicly-traded corporations, together with Granite Creek Copper and Bravada Gold, and can also be an officer of Sierra Mountain Minerals Inc.
Gregory Johnson – Government Chairman
Gregory Johnson has 30 years of expertise within the mining trade with a document of success in exploration, improvement and financing of large-scale base and treasured metals initiatives. Johnson has seen these initiatives from the invention stage by superior financial evaluation. Johnson has experience within the exploration of platinum group components, gold, silver, nickel and copper. Johnson has developed broad expertise within the capital markets. He has been concerned in elevating over $650 million in venture financing for his corporations. He has additionally constructed shareholder bases and secured the participation of main institutional traders for these corporations.
He started his profession with Placer Dome Inc. (now Barrick Gold Corp.) the place he held numerous senior roles in home and worldwide exploration. Johnson is without doubt one of the founders of NovaGold Sources. Johnson was additionally a co-recipient of the PDAC’s Thayer Lindsay Worldwide Discovery Award for his function within the discovery and development of the 40-million-ounce Donlin Creek gold deposit in Alaska. As President and CEO of South American Silver and Wellgreen Platinum, Johnson led the numerous growth and development of a number of main treasured and base steel deposits. He presently serves as chairman and CEO of Metallic Minerals Corp. which is a number one silver explorer within the Yukon Territory.
Johnson has additionally been acknowledged for his work in sustainable improvement and group engagement. Johnson was awarded the Robert E. Leckie Award by the Yukon authorities for excellence in environmental stewardship. Johnson holds an Honors Bachelor of Science in Geology from Western Washington College.
Gregor Hamilton – Director
Gregor Hamilton has 25 years of expertise within the mining sector as a geologist, funding banker and entrepreneur. Hamilton started his profession in mineral exploration in South America. Hamilton later labored for 11 years in funding banking in London and Sydney the place he specialised in structured finance and M&A. Since 2010, Hamilton has been concerned within the acquisition and improvement of mineral properties inside each private and non-private useful resource corporations.
Hamilton has a Bachelor of Science in Geology from the College of Edinburgh and a Grasp of Science in Mineral Challenge Appraisal from the Royal College of Mines at Imperial School in London, UK. He additionally serves on the board of Metallic Minerals Corp.
Gordon Toll – Unbiased Director
Gordon Toll is a mining engineer with over 50 years of world mining trade expertise as an entrepreneur and developer of huge mining operations. His distinguished profession within the mining trade has additionally concerned acquisitions and new enterprise improvement, startups and public firm management. Toll’s senior management positions with main corporations embody industrial and technical govt positions with BHP Billiton, Rio Tinto, Atlantic Richfield and Texasgulf. He was additionally a founding father of Ferrous Sources in Brazil which is now a subsidiary of Vale. Toll was additionally the deputy chairman of Ivanhoe Mines and the chairman of Fortescue Metals Group.
Toll is acknowledged for his fund-raising and mine-building skills for large-scale useful resource trade initiatives around the globe. He has been instantly concerned with elevating over US$5 billion throughout his profession. At the moment, he manages personal funding corporations comparable to Braemar Infrastructure Pty Ltd. Braemar Infrastructure Pty Ltd. has obtained main improvement standing from the South Australian Authorities and is proposing a multi‐function infrastructure hall for the Braemar Area.
Toll is a mining engineering graduate from the College of Queensland. Toll additionally holds a Grasp’s diploma in Enterprise Science from Columbia College.
Dr. Craig Bow – Senior Geological Advisor
Dr. Craig Bow has over 40 years of worldwide mining expertise throughout all phases. Dr. Bow’s expertise consists of key contributions to the development of Sibanye-Stillwater’s PGE mines from preliminary exploration by to a optimistic manufacturing resolution. He’s a acknowledged skilled on international PGE-Ni programs. Dr. Bow was additionally a part of the staff accountable for the multi-million-ounce Arctic Platinum partnership between Gold Fields Ltd. and Outokumpu in Finland. He was previously the exploration supervisor of North America for Gold Fields. He has additionally led quite a few technical applications for Cyprus Amax, Newcrest and AngloGold Ashanti. Dr. Bow holds a Ph.D. in Geology from the College of Oregon. He’s a Certified Particular person with the American Institute of Skilled Geologists and a member of the Society of Financial Geologists.
Mike Ostenson – Challenge Supervisor, Geologist and QP
Mike Ostenson has in depth expertise in exploration, mine improvement and mining within the Stillwater Complicated. This expertise consists of the roles of vp of exploration and Certified Particular person at Premium Exploration. Ostenson’s former roles additionally embody exploration geologist at Beartooth Platinum, gold mine geologist at AngloGold and ore grade management geologist at Stillwater Mining Firm. Ostenson has a Bachelor of Science in Earth Sciences from Montana State College.
Justin Modroo – Challenge Geophysicist
Justin Modroo has 20 years of mineral exploration expertise. Modroo’s was a geophysical guide with Premium Exploration and Beartooth Platinum within the Stillwater Complicated. Modroo additionally has expertise with different North American exploration initiatives. Modroo has in depth first-hand data of the geology and geophysical traits discovered on the Stillwater Complicated in addition to the historic venture information. Modroo has a Bachelor of Science diploma in Geophysical Engineering and a Masters of Science in Geophysics from the Colorado College of Mines.
Harry Burgess – Mining and Mine Engineering Advisor
Harry Burgess has greater than 40 years of expertise in administration and mine engineering. Burgess held senior positions with Anglo-American and different corporations in Zambia and South Africa. Burgess can also be the co-founder of Micon Worldwide Restricted.
Brian Cloney – Finance Advisor
Brian Cloney has over 35 years of expertise in public accounting and monetary consulting with a specific give attention to the mining sector. Cloney has held the function of chief monetary officer with a number of publicly-traded useful resource corporations. Cloney was a director of Group Ten Metals from March 2014 to June 2016.
Garth Kirkham – Geology and Mining Advisor
Garth Kirkham has over 34 years of expertise within the mineral exploration trade as a board member, chief and geoscientist. He has quite a few skilled designations and awards for his work. Kirkham heads Kirkham Geosystems Ltd. and was a founding director of Group Ten Metals.
Douglas Warkentin – Processing and Metallurgy Advisor
Douglas Warkentin is a metallurgical and course of improvement guide with over 30 years of expertise within the mining and mineral processing industries. Warkentin is presently the senior metallurgist at Kemetco Analysis Inc. in Richmond, British Columbia. He has performed mineral processing, hydrometallurgy, mine water therapy and useful resource restoration on a broad array of base, treasured and high-tech metals initiatives for worldwide purchasers. He was a co-founder of Group Ten Metals and served on the corporate’s board till July 2014.
Rebecca Moriarty – Chief Monetary Officer
Rebecca Moriarty is a Chartered Skilled Accountant with over 20 years of expertise within the mining trade. Her background features a distinctive mixture of technical and enterprise accounting experience. She obtained a level in Geology from Queens College and a CPA designation. Moriarty is supported by the Malaspina Consultants staff which is a Vancouver-based monetary consulting and advisory agency staffed with extremely skilled accounting personnel. Earlier than becoming a member of Malaspina, Moriarty labored with PricewaterhouseCoopers LLP the place she was a supervisor working solely with useful resource corporations.
Chris Ackerman – VP Company Improvement
Chris Ackerman is a graduate of the UBC College of Legislation. Ackerman has in depth expertise in each authorities and personal trade, together with 5 years as senior supervisor of company communications with Wellgreen Platinum and senior enterprise improvement advisor with the Yukon Ministry of Financial Improvement. He’s presently additionally senior administration at Group Ten’s peer corporations within the Metallic Group, being Metallic Minerals Corp. and Granite Creek Copper.
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