Group Ten Reports 8 Meters of 3.65 g/t Platinum, Palladium, and Gold, and 26.8m of 0.98% Nickel and 0.45% Copper, in Drill Results from the Iron Mountain Target Area of the Stillwater West Project in Montana, USA
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 - 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
Group Ten Reports 8 Meters of 3.65 g/t Platinum, Palladium, and Gold, and 26.8m of 0.98% Nickel
and 0.45% Copper, in Drill Results from the Iron Mountain Target Area
of the Stillwater West Project in Montana, USA
May 7, 2019 – Vancouver, BC - Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company”
or “Group Ten”) announces results from the Iron Mountain target area on the east side of the Stillwater West
PGE-Ni-Cu Project, adjacent to Sibanye-Stillwater’s high -grade Platinum Group Element (“ PGE”) mines in
Montana, USA. This is the fourth in a series of planned news releases to report results of 2018 exploration
programs and on-going data synthesis and modeling work at the Company’s flagship project. Highlights include:
• Past shallow drilling at the HGR target includes 8.0 meters of 3.65 g/t platinum, palladium and gold, plus
0.16% combined nickel and copper and 0.013% cobalt for 4.46 g/t total platinum equivalent (“TotPtEq”)
or 1.08% total nickel equivalent (“ TotNiEq”), starting at surface . Mineralization in this interval is directly
comparable to the observed grades on Platreef deposits in the Bushveld Complex of South Africa at Anglo
American’s Mogalakwena Mine and Ivanhoe’s Platreef Mine, in a similar geological setting;
• Deeper d rilling in the 1970s at the HGR target returned long intervals of nickel -copper sulphide
mineralization - which were not sampled at the time for other metals including PGEs - intercepting 259.1
meters grading 0.25% Ni and 0.20% Cu (0.35% TotNiEq or 1.44 g/t TotPtEq), starting at 15.2 meters depth
and ending in mineralization, including 26.8 meters at 0.98% Ni and 0.45% Cu (1.21% TotNiEq or 4.96 g/t
TotPtEq) in Hole 355-64;
• Re-sampling of core from 1970s drill h oles at the HGR target reports palladium values from intercepts of
significant nickel-copper sulphide mineralization ranging up to 2.7 g/t in Hole 355-64. Additional drilling is
required to better define the content of PGEs and other target commodities at the HGR target;
• 2018 and historic rock samples returned high-grade results with 17 samples over 2 g/t PGE plus gold, ranging
up to 95.8 g/t platinum, palladium, and rhodium (27.8 g/t Pt, 62.2 g/t Pd, 5.78 g/t Rh) at the HGR target.
• Past drilling at the HGR target defines an approximately 750 meter by 400 meter area within a larger area
defined by coincident geophysical (conductive high) and geochemical soil anomalies that appears to connect
with similar anomalies at the Iron Mountain Central target about one kilometer to the west. The HGR target
is open for expansion in all d irections, including to the east in the direction of an adjacent kilometer -scale
geophysical conductive high anomaly that remains untested, and to the west along the layered stratigraphy
of the Stillwater Complex towards the Iron Mountain Central target; and
• Results confirm that the geophysical conductive highs are targeting high-sulphide mineralization, and that
the scale of the conductive anomalies is comparable to deposits at Platreef. The Iron Mountain target area
is a priority for follow-up work in 2019 based on the potential to rapidly expand known mineralized zones.
Michael Rowley, President and CEO, commented, " The Iron Mountain target includes some of the most
compelling examples to date of the potential we see across the 25-kilometer-long Stillwater West Project, with
multiple long intervals of nickel and copper sulphide mineralization including thick intercepts enriched in
platinum, palladium, cobalt, gold , and rhodium . Drill data compiled and modeled by Group Ten report 33
intervals with over 50 gram-meter Total Platinum Equivalent (TotPtEq) grade-thickness, and 13 with over 100
gram-meter TotPtEq, in the Iron Mountain target area, with many holes beginning and ending in mineralization.
“Shallow, more recent d rill holes show grades comparable to deposits at Platreef over significant widths,
including multi-gram per tonne platinum, palladium, and gold , along with nickel, copper and cobalt values,
starting at surface. Deeper drilling from the 1970s demonstrates wide intervals of nickel and copper sulphide
mineralization with associated PGEs that were previously only selectively sampled. Taken together, the drilling
and surface sampling at the Iron Mountain target area demonstrate the presence of Platreef -style grade with
potential bulk tonnage scale at Stillwater West. Drill-defined mineralization at the HGR and Central targets is
open for expansion in all directions, including to the east towards a geophysical conductor that has never been
drill tested, and to the west following the magmatic layers of the Stillwater Complex.
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
“The Iron Mountain target area, along with the Chrome Mountain and Camp Zone target areas, is a top priority
for work in 2019 as we see the potential to rapidly expand known mineralization and quickly advance targets to
resource delineation stage. We look forward to reporting further updates in the very near future.”
Figure 1 – Cross-Section Through the Stillwater Igneous Complex Showing the
Layered Stratigraphy and Known Deposits
Iron Mountain Overview
The 2018 exploration program, the Company’s first at Stillwater West, focused on exploration of the lower
Stillwater Complex (Figure 1) where Group Ten sees the potential for much larger mineralized systems than has
been previously recognized in the district based on work to date and known geological similarities between the
Stillwater Igneous Complex and the Bushveld Igneous Complex in South Africa. The northern limb of the
Bushveld, a region known as the Platreef, has seen rapid development as a world leader in low-cost platinum
and palladium supply since the 1990s with the discovery and development of A nglo American’s Mogalakwena
PGE-Ni-Cu Mine, and Ivanhoe’s Platreef PGE-Ni-Cu mine that is now construction.
Group Ten is targeting a “Platreef-style” setting in which bulk-tonnage sulphide mineralization in the Lower
Stillwater Complex may be associated with interaction between the layered magmatic system and the basement
country rocks. Interaction and assimilation of basement country rocks is an important component of the Platreef
deposits in the Bushveld Complex, where the country rocks may be in place as the footwall or occur as large rafts
within the layered magmatic stratigraphy. The potential for this setting at Iron Mountain is supported by deep
conductive geophysical targets at the two most advanced targets, being the Iron Mountain Central and HGR
targets. A series of deeper drill holes at the HGR target demonstrate further potential by drilling through iron
formation, in what had been interpreted as basement country rocks, before returning to mineralized layered
ultramafic rocks below (see cross-section in Figure 8).
As shown in Figure 2, the approximately 2.9 -kilometer-wide Iron Mountain target area is one of eight major
target areas identified by Group Ten as having potential for large PGE -Ni-Cu Platreef-style deposits across the
Ultramafic and Basal Series of the Stillwater Complex. These target areas are highlighted by strong, multi-
kilometer electro-magnetic conductive signatures that are characteristic of large bodies of interconnected to
strongly disseminated sulphides. The presence of significant nickel and copper sulphide mineralization
corresponding to, and associated with, the electromagnetic conductors within these target areas is confirmed
in historic drill results compiled by the Company. Assay data is less comprehensive for other elements, although
thick intervals enriched in platinum, palladium, gold, cobalt and chromium are demonstrated i n target areas
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
where data exists. No systematic drill test of the conductive high geophysical anomalies has been conducted to
date in the Iron Mountain target area (see Figure 3).
Figure 2 – Fourteen Target Areas Across the 25-Kilometer Length of the Stillwater West Project
The potential for significant PGE-Ni-Cu deposits is further strengthened by the correlation of the conductive
geophysical targets with highly elevated levels of platinum, palladium, gold, nickel, copper, and chromium in
soils and rock sampling across much of the Stillwater West Project. Soil geochemistry results for the Iron
Mountain target area are presented in Figures 4 and 5.
Tables 1 and 2 summarize data from 46 drill holes within t he Iron Mountain target area which demonstrate
strong mineralization with 13 drill holes returning intercepts of greater than 100 gram -meter TotPtEq grade-
thickness (or 24 percent-meter TotNiEq). Grade-thickness values are based solely on nickel and copper data in
six of those holes, including Hole 355-64 which was drilled in 1976 at the HGR target and returned an exceptional
371.8 gram-meter TotPtEq (or 90.7 percent-meter TotNiEq). Grade-thickness values, determined as grade x
thickness, of 25 gram -meter or more are considered economically significant, and values of 100 to 300 gram -
meter are considered exceptional. Grade-thickness values at the adjacent J-M Reef mines average approximately
34 gram-meter palladium and platinum1.
Rock sample results from the Iron Mountain target area confirm the presence of significant platinum, palladium,
nickel, copper and cobalt mineralization with 17 samples over 2 g/t PGE plus gold - and four over 10 g/t PGE plus
gold - ranging to 95.8 g/t combined platinum, palladium, and rhodium in one sample at the HGR target (Table
3). In addition, test work indicates a consistent ratio of rhodium content relative to platinum values , with 13
samples returning rhodium results of 0.47 g/t or higher . Rhodium values have not been included in the
calculation of metal equivalents in the tables above and below.
HGR Target
The HGR target is the most advanced within the Iron Mountain target area, with 21 drill holes returning over 25
gram-meter TotPtEq grade-thickness within an approximately 750 meter by 400 meter area within a larger area
defined by coincident geophysical (conductive high) and geochemical soil anomalies that is open in all directions
and appear to connect with similar anomalies at the Iron Mountain Central ta rget (see Figure s 3 to 5 ).
Mineralized intervals range from 26.7 to 259.1 meters across these holes at grades ranging from 0.12% to 1.43%
combined nickel and copper, with an average length of 94 meters at 0.2 6% combined nickel and copper. Assay
data for other commodities are limited as the older, deeper holes were generally assayed only selectively for
nickel and copper, although subsequent PGE assays were completed on select intervals. Shallower, more recent
holes provide complete assay data.
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
Ten AMAX drill holes from the 1970s intersected significant intervals of nickel and copper sulphide mineralization
near the Basal contact of the Stillwater Complex, including Hole 355-59 which returned 33.5 meters of 0.77% Ni
and 0.65% Cu. Hole 355-64, drilled approximately 160 meters south of 355-59, returned 26.8 meters of 0.98%
Ni and 0.45% Cu within a broader interval of 259.1 meters of 0.25% Ni and 0.20% Cu that starts at 15.2 meters
depth and ends in mineralization (see Table 1 and cross -section in Figure 8). Although A MAX did not
systematically analyze for PGEs, subsequent work reported values ranging up to 2.7 g/t Pd in Hole 355-64. Based
on the observed ratio of platinum to palladium in drill core with complete assay results in the HGR target area,
total PGE values are projected to range be approximately 4 g/t for this sample.
Eighteen more recent holes provide valuable confirmation of the PGE potential of the HGR target by reporting
complete assay data including 8.0 meters of 3.65 g/t 3E and 0.14% Ni, 0.03% Cu and 0.013% Co starting at
surface in Hole IM2002-07, an 84.5-meter hole drilled in 2002 about 110 meters from 355-64. Hole IM2002-07
is also about 60 meters from Hole 355-62, which returned 220.8 meters of 0.16% Ni and 0.03% Cu.
The PGE potential of the HGR target area is further confirmed by Hole IM2002-12 which returned 4.1 meters of
3.09 g/t PGE+Au plus 0.14% Ni, 0.02% Cu, and 0.009% Co.
The HGR target area is a priority for work in 2019 as it demonstrates the widest and highest-grade mineralization
intercepted to date at Stillwater West , with grades that are directly comparable to the Platreef. HGR shows
excellent potential to advance quickly to resource delineation stage with further drilling at known mineralized
zones that are open at depth and along strike, where Group Ten is targeting areas to the east and west, outside
of the core HGR target area as defined by drilling to date. To the east, the Company is targeting a kilometer-scale
conductive high anomaly identified in a subsequent geophysical survey that remains untested (see Figure 3).
The area west of the HGR target area also remains untested and is highly prospective with rock sample results
of up to 27.8 g/t platinum, 62.2 g/t palladium, and 5.78 g/t rhodium in one sample taken about 400 meters
west of the HGR target, towards the Iron Mountain Central target. Geologic compilation and mapping by Group
Ten, as summarized in Figure 6, demonstrates that the layered magmatic stratigraphy of the Stillwater Complex
runs laterally through both target areas, potentially connecting the high -grade results within specific layers at
both targets and highlighting the potential of the area in between, which has not been drill tested.
Iron Mountain Central Target
Work to date at the Iron Mountain Central target centers on three drill holes with over 100 gram-meter TotPtEq
grade-thickness in long intervals of platinum, palladium, gold, and cobalt in nickel and copper sulphide
mineralization: IM2007 -01 returned 226.2 meters at 226.1 g ram-meter TotPtEq; IM2007-02 returned 123.5
meters at 130.1 gram-meter TotPtEq; and IM2007-03 returned 124.4 meters at 127.0 gram-meter TotPtEq (see
Table 1). Consistent cobalt values of 0.013% to 0.016% are shown across these intervals, adding potentially
significant co-product value.
The Iron Mountain Central target is open for ex pansion to the east towards the HGR target where an area
approximately one kilometer by 640 meters returned highly elevated platinum, palladium and gold levels in soil
that are coincident with a geophysical conductive high anomaly that remains untested (Figures 3 and 4). A much
larger nickel and copper in soil anomaly is also shown across the area, following the broader Peridotite Zone
(Figure 5). In addition, geological mapping and modeling work by Group Ten has targeted specific layers of the
stratigraphy within the complex for high -grade mineralization based on known results at both Iron Mountain
Central target and the HGR target to the east, generating compelling targets on the intervening ground.
Intrusive Dunite Targets
Geologic mapping by the Co mpany in 2018 identified multiple intrusive dunites across the Stillwater West
Project, including the Iron Mountain target area (see Figures 3 to 6). Intrusive dunites formed the first mines in
South Africa’s Bushveld Igneous Complex and were known for the ir spectacular PGE grades, along with other
commodities. No systematic exploration has been completed for intrusive dunites at in the Stillwater Complex,
although occurrences have been noted in past geophysical and geological sampling surveys. Follow up of these
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
targets is a priority for Group Ten based on their potential for both grade and size.
Table 1 – Drill Results, HGR Target at Iron Mountain
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
Table 2 – Drill Results, Iron Mountain Central Target
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
Intercepts with grade -thickness values over 25 gram -meter TotPtEq are presented above. Total Platinum Equivalent ( TotPtEq g/t) and Total Nickel
Equivalent calculations reflect total gross metal content using metals prices as follows (all USD): $6.00/lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt
(Co), $1,000/oz platinum (Pt), $1,000/oz palladium (Pd), and $1,250/oz gold (Au). Values have not been adjusted to reflect metallurgical recoveries. Total
metal equivalent values include both base and precious metals, where available. Results labelled ‘n/a’ were not assayed for that metal. Total platinum
equivalent grade-thickness was determined by multiplying the thickness (in meters) by the Total Platinum Equivalent grade (in grams/tonne) to provide
gram-meter values (g-m) as shown. Total nickel equivalent grade-thickness was determined by multiplying the thickness (in meters) by the Total Nickel
Equivalent grade (in percent) to provide percent-meter values as shown. IM series drill holes were conducted by Group Ten’s QP and are not considered
historic. 355 series drill are considered historic and have not been independently verified by Group Ten.
Table 3 – Rock Sample Results, Iron Mountain
Results over 2 g/t TotPtEq are presented above. Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent were determined as per Table 1.
Cliff Target
TSX.V: PGE
OTC: PGEZF
FSE: 5D32
904 – 409 Granville Street, Vancouver, British Columbia, Canada V6C 1T2
Reconnaissance geological sampling and mapping by Group Ten in 2018 identified a zone of distinctive
mineralization located near the upper contact of the Ultramafic Series, which is comprised of pegmatoidal
magmatic rocks with visible sulphides. This stratigraphic package has been traced on the surface across at least
300 meters of strike length and remains open. Limited sampling from the Cliff target returned consistently
anomalous PGE, nickel, copper, and cobalt mineralization in 2018 field work. Follow up prospecting and mapping
work is planned for 2019, with particular focus on highly elevated levels of metals shown in soil anomalies
immediately to the east (see Figures 4 and 5).
Reef-Type Targets
The Company is also targeting higher -grade PGE reef -type mineralization which has been documented in the
Iron Mountain target area. The layered magmatic stratigraphy of the Stillwater West Project allows Group Ten
to target both reef -type PGE -Ni-Cu mineralization in the upper layers and sulfide -hosted bulk tonna ge
mineralization in the lower layers, based on the model developed to date.
Next Steps
Group Ten has completed the initial phase of data synthesis and modeling work on the priority Chrome
Mountain, Camp Zone, and Iron Mountain target areas, where the Company sees the potential to expand known
drill-defined mineralization in terms of both scale and grade. Planning is underway for the next phase of drill
testing with the objective of offsetting higher grade mineralized intercepts which may be rapidly advanced to a
resource delineation stage. Additional synthesis and modelling work is underway on less advanced areas at
Stillwater West. News flow will be on-going to report on this effort in addition to announcing exploration plans.
About Stillwater West
The Stillwater West PGE-Ni-Cu Project positions Group Ten as the second largest landholder in the Stillwater
Complex, adjoining and adjacent to Sibanye-Stillwater’s world-leading Stillwater, East Boulder, and Blitz
platinum group elements (PGE) mines in south central Montana, USA. With more than 41 million ounces of past
production and current M&I resources, plus another 49 million ounces of Inferred resources1,2, the Stillwater
Complex is recognized as one of the top regions in the world for PGE-Ni-Cu 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, while the lower part of the Stillwater Complex also shows
the potential for much larger scale disseminated and high-sulphide PGE-nickel-copper type deposits, possibly
similar to Platreef in the Bushveld Complex3. Group Ten’s Stillwater West property covers the lower part of the
Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion, and includes extensive
historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.
Note 1: Report on Montana Platinum Group Metal Mineral Assets of Sibanye-Stillwater, November 2017, Measured and Indicated
Resources of 57.2 million tonnes grading 17.0 g/t Pt+Pd containing 31.3 million ounces and 92.5 million tonnes grading 16.6 g/t
containing 49.4 million ounces. Grade thickness was determined by applying the reported minimum mining width of 2.0 meters
to the M&I grade of 17 g/t Pt+Pd for an average grade-thickness of approximately 34 gram-meter (g-m).
Note 2: Public production records from Stillwater Mining Company from 1992 to present.
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.
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 highly prospective 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