VANCOUVER, B.C., Nov. 30, 2017 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX-V:PGE) (OTCBB:PGEZF) (FSE:5D32) (the “Company” or “Group Ten”) is pleased to announce key additions to its technical team to support the advancement of its Stillwater West PGE-Ni-Cu project in south-central Montana, including the appointment of Dr. Craig Bow as Chief Geologist, Mr. Mike Ostenson as Stillwater West Project Geologist, and Mr. Justin Modroo as Project Geophysicist. All three have extensive experience in the Stillwater Complex and bring significant expertise in the exploration and advancement of PGE-Ni-Cu systems to the Group Ten team.
Dr. Craig Bow, Ph.D., and Certified Professional Geologist, has over 40 years of international exploration and mining experience ranging from discovery and greenfield exploration projects to advanced-stage development. Dr. Bow was a key contributor in the advancement of Sibanye-Stillwater’s platinum and palladium mines in Montana from initial exploration through to a positive production decision, and has spent much of his career studying the major PGE-Ni-Cu systems of world, including Russia’s Noril’sk deposits, South Africa’s Bushveld, and Canada’s Raglan and Kluane belts. In addition, Dr. Bow was part of the team responsible for the multi-million ounce Arctic Platinum partnership with Gold Fields, and Outokumpu in Finland. Dr. Bow’s broad industry experience also includes Exploration Manager, North America for Gold Fields Limited, as well as leading numerous technical teams and programs for Cyprus Amax, Newcrest, and AngloGold Ashanti. Dr. Bow holds a Ph.D. in geology from the University of Oregon, is a Qualified Person with the American Institute of Professional Geologists, and a member of the Society of Economic Geologists.
Mr. Mike Ostenson II, P.Geo., has extensive experience in exploration, mine development, and mining in the Stillwater area from his nearly 20 years in progressively more senior roles with companies in the district, including Vice-President Exploration with Premium Exploration, Exploration Geologist for Beartooth Platinum, and Grade Control Geologist with Stillwater Mining Company. His knowledge of Stillwater geology and familiarity with the Stillwater West exploration history, combined with his years of experience in exploration planning, logistics, and operations in the area will contribute significant value to the project team. Mr. Ostenson also worked as a Gold Mine Geologist with AngloGold Corp at its Jerritt Canyon Mine in Elko, Nevada, USA, and holds a Bachelor of Science from the Montana State University.
Mr. Justin Modroo, P.Geo., has 20 years of mineral exploration experience focusing on precious metals. He worked as a Geophysical Consultant with Premium Exploration and Beartooth Platinum in the Stillwater Complex, and has broad experience conducting geophysical surveys for other metal exploration projects in North America. Mr. Modroo’s first-hand knowledge of the geology and geophysical characteristics of the Stillwater Complex and the historic project data will be valuable assets to the Group Ten technical team. Mr. Modroo has a Bachelor of Science degree in Geophysical Engineering and a Masters of Science in Geophysics from the Colorado School of Mines.
Dr. Craig Bow stated, “It is exciting to join the Group Ten team and return to the Stillwater district. The opportunity that has been identified at Stillwater West highlights potential for a much larger mineralized PGE-Ni-Cu system than was previously recognized in the lower portion of the Stillwater Complex. With the middle portion of the Complex hosting one of the world’s largest and highest grade PGE deposits, we believe potential exists for a major new PGE-Ni-Cu discovery within this long–overlooked and under-explored stratigraphic package.”
Michael Rowley, President and CEO, added, "We are very pleased to be adding such highly accomplished individuals to our technical team, effectively reuniting two key members from past teams under the guidance of Dr. Bow who is internationally recognized for his expertise in PGE-Ni-Cu systems, including Stillwater. That expertise, combined with the substantial project database and the team’s intimate knowledge of that past work, will greatly accelerate our progress on this large-scale mineralized system.”
The Company also announces the resignation of Ms. Connie Norman as Corporate Secretary effective November 30th. Group Ten would like to thank Ms. Norman for her contributions to the company and wishes her the best in her future endeavours. Mr. Tim Thiessen, Chief Financial Officer for Group Ten, will also assume the responsibilities of Corporate Secretary.
The Company is further pleased to announce it has received an additional $200,000 in funding via warrant exercise commitments, with additional exercises still in progress. Group Ten has approximately $3 million in additional in-the-money warrants remaining that are callable.
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 40 million ounces of past production1 and current M&I resources2, plus another 49 million ounces of Inferred resources2, 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.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a Canadian mineral exploration company focused on the acquisition and development of high-quality platinum, palladium, nickel, copper and gold exploration assets in North America. The Company’s holdings include the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade Pd-Pt mines in Montana, the Kluane Ni-Cu-PGE project adjacent to Wellgreen Platinum in the Yukon Territory, and the Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario.
Note 1: Public production records from Stillwater Mining Company from 1992 to present.
Note 2: 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.
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.
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
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.