Business
Stillwater Critical Minerals Enters Letter of Intent to Sell the Duke Island Cu-Ni-PGE Project in Alaska to Granite Creek Copper
VANCOUVER, BC / ACCESSWIRE / October 28, 2024 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(...
About this update from Stillwater Critical Minerals Corp
[{"type":"text","content":"Stillwater Critical Minerals Enters Letter of Intent to Sell the Duke Island Cu-Ni-PGE Project in Alaska to Granite Creek CopperVANCOUVER, BC / ACCESSWIRE / October 28, 2024 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(OTCQB:PGEZF)(FSE:J0G) (the \"Company\" or \"Stillwater\") is pleased to announce that it has entered into a Letter of Intent (\"LOI\") with the objective of signing a definitive agreement (\"Agreement\") whereby fellow Metallic Group of Companies member Granite Creek Copper (\"Granite Creek\") will acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (\"Cu-Ni-PGE\") project via a non-arm's length, all-share transaction.Stillwater President and CEO, Michael Rowley, stated, \"We are very pleased to enter this agreement with Granite Creek and look forward to both supporting, and benefiting from, its progress in advancing Duke Island's demonstrated nickel, copper, and platinum group element mineralization in addition to its carbon sequestration and geologic hydrogen generation potential. Our strong relationship with Dr. Greeshma Gadikota and the Cornell University team has expanded to now include Granite Creek and together they are well-positioned to advance the project in the nascent field of geologic hydrogen while giving Stillwater additional exposure to North American critical minerals The Company remains focused on its flagship Stillwater West project in Montana's iconic Stillwater mining district, including the previously announced carbon sequestration and geologic hydrogen studies, with the vision of becoming a cornerstone of the US' critical mineral supply chain.\"About Duke IslandDuke Island enjoys excellent proximity to infrastructure, being approximately 52 km southeast of Ketchikan and 90 km northwest of Prince Rupert, BC. Located within the Alexander Platinum belt, the project consists of 31 unpatented claims that control a core area of Cu-Ni-PGE sulphide mineralization discovered by previous companies. While several prospective zones have been discovered based on geologic mapping, surface geochemistry, surface and airborne geophysics, only one of these zones has been tested to date with 3,434 meters of drilling in 16 holes. None of the holes are thought to have penetrated the prospective basal contact of the intrusion where the highest grades of Cu-Ni-PGE sulphide mineralization...