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Group Ten Metals Signs Definitive Agreement with Heritage Mining on the Black Lake-Drayton Gold Project in Ontario, Canada
VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Group Ten Metals Inc. (TSX.V:PGE) (OTCQB:P...
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":"Group Ten Metals Signs Definitive Agreement with Heritage Mining on the Black Lake-Drayton Gold Project in Ontario, CanadaVANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Group Ten Metals Inc. (TSX.V:PGE) (OTCQB:PGEZF) (FSE:5D32) (the \"Company\" or \"Group Ten\") is pleased to announce that it has signed a Definitive Agreement (the \"Agreement\") with Heritage Mining Ltd. (\"Heritage\") per the binding Letter of Intent (the \"LOI\") announced August 26, 2021. By the terms of the Agreement, and subject to the earn-in requirements specified therein, Heritage can acquire up to a 90% interest in Group Ten's Black Lake-Drayton gold project (the \"Property\") in Ontario, Canada.Group Ten also announces that it has initiated the exploration program required by the Agreement, with a focus on advancing and refining existing targets identified in past campaigns, as well as advancing new targets. To this end, the 2021 program includes re-sampling of core from 1996-2002 drill campaigns programs at the Moretti, Dragfold, and Bonanza targets, focused prospecting in areas of interest identified by the 2017 geophysical modelling and interpretation report, and a basal till sampling program intended to expand upon successful 2018 and 2020 programs.Group Ten President and CEO, Michael Rowley stated, \"We are pleased to announce the successful conclusion of the first in what we expect will ultimately become a series of deals whereby Group Ten begins to realize value for our non-core assets. Black Lake-Drayton, like our Kluane Ni-Cu-PGE project, is a high-quality brownfields project that is district-scale in size and 100%-owned by the Company. The Agreement with Heritage Mining provides Group Ten with significant exposure to the gold market while allowing us to focus on our 100%-owned Stillwater West project in Montana, where we see terrific potential to expand our recent inaugural resource estimates of first-world nickel, copper, palladium, platinum, rhodium, gold and cobalt. Core from 2021 resource expansion drilling at Stillwater West is progressing through the assay lab and we look forward to a series of news releases announcing results starting in the coming weeks, as well as updates on other initiatives including our work in carbon sequestration.\"Heritage Mining's CEO, Peter Schloo stated, \"It is rare that a project of this size and quality...