Business
Group Ten Metals Reports 2018 Exploration Results and Expands Land Position at Black Lake–Drayton Gold Project in Northwest Ontario, Canada
VANCOUVER, British Columbia, March 25, 2019 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is p
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, March 25, 2019 (GLOBE NEWSWIRE) -- Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) is pleased to provide an update on the Black Lake–Drayton gold project, which adjoins the Goldlund and Goliath gold projects in the Rainy River district of northwest Ontario, Canada, including: acquisition of new ground by direct staking to incorporate orientation entropy anomalies identified in recent geophysical modelling work; completion of the earn-in on the last remaining claim block such that the Company now holds a 100% interest in the entire project, now approximately 13,733 hectares in size; and results of exploration work completed in 2018, including the identification of pristine gold grains in surface till samples with a demonstrated correlation between the density of these grains and geophysical (orientation entropy) anomalies in a new target area with pervasive shallow overburden. Completion of Earn-In, Additional Staking, and Resultant Land Position Group Ten reports that it has completed the final share issuance per an agreement with NWT Copper Mines Ltd. (“NWT”), as announced March 3, 2014 and subsequently amended. The Company has now earned a 100% right and title to the NWT claims, subject to a royalty interest that includes a buy-down provision. The NWT claims include the western extension of the Moretti Zone that, in addition to the Black Lake property now held by Group Ten, provides the Company with over 2.4 km of strike on the Moretti system. Historic bulk samples at the Moretti Zone averaged 14.1 and 18.6 g/t Au, and multiple historical geological samples ranged up to 1,212 g/t Au (historic data not independently verified by Group Ten). The Company also reports that it has expanded the Black Lake–Drayton claim block by 107 claims through direct staking, bringing the total project area to approximately 13,733 hectares. The latest ground was acquired to cover new targets developed through structural complexity modeling of previously acquired airborne magnetic (geophysical) survey data. Areas were prioritized for acquisition based on the correlation of known areas of gold mineralization, such as the Moretti Zone, with the new orientation entropy targets, and the results of the 2018 till samples collected from less-explored areas. Structural complexity mod...