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Group Ten Metals Completes Earn-In at Black Lake-Drayton Gold Project in the Rainy River District of Ontario, Canada
VANCOUVER, British Columbia, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) annou
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) announces completion of the earn-in requirements on the core Black Lake portion of the Black Lake-Drayton gold project, adjoining the Goldlund and Goliath gold projects in the Rainy River district of Northwest Ontario, Canada. Group Ten has completed the earn-in requirements for the 24 km2 Black Lake claim block within the Black Lake-Drayton project by completing all terms of the agreement first announced November 21, 2012, as amended, such that the Company now owns 100% right, title and interest to the claims subject only to certain production royalties, which include buy-down provisions. Together with the completion of earn-ins announced July 18, 2018, the Company now owns 100% right and title to over 96% of the 114 km2 Black Lake-Drayton project, with the remaining portion subject to one earn-in agreement. President and CEO Michael Rowley said, “With this most recent milestone, Group Ten is now very close to owning 100% of the Black Lake-Drayton project for a very modest consideration. We continue to receive expressions of interest from potential partners on the project arising from its similarity with and proximity to the Goldlund and Goliath projects held by First Mining Gold and Treasury Metals, respectively, as well as to New Gold’s Rainy River project, which first attracted attention to the district in the 1990s. This asset adds to Group Ten’s commodity base and complements the Company’s core Stillwater West PGE-Ni-Cu project with a large and highly-prospective land position strategically located beside advanced-stage gold projects in a word-class high-grade mining district. We anticipate further announcements with respect to advances at Stillwater West as well as regarding anticipated 2019 field programs at our projects in Montana, Ontario and Yukon.” About the Black Lake-Drayton Project As shown in Figure 1, the Black Lake-Drayton project has been consolidated by the Company in five parcels as four option deals plus direct staking, providing Group Ten with 100% earn-in or ownership on more than 114 km2 and over 30 km of under-explored strike length in in the Abrams‐Minnitaki Lake archean greenstone belt, along the northern margin of the Wabigoon sub-province. This h...