Source: Streetwise Reports 06/26/2024
Stillwater Critical Minerals Corp. (OTC: PGEZF) has reported the final drill results from resource expansion drilling at its flagship Stillwater West project in Montana last year.
The campaign was funded by an investment by major Glencore, which holds a 15.4% position in Stillwater and has provided ongoing technical support to the company, even adding Glencore Vice President Bradley Adamson to Stillwater's Board of Directors.
Stillwater released results from six holes totaling 2,310 meters that were focused on expanding deposits at the west end of the current 9-kilometer-long resource area.
Holes CM2023-01, CM2023-02, and CM2023-03 targeted and successfully intercepted magmatic nickel and copper sulfide mineralization with significant platinum group element (PGE) mineralization, furthering known parallels with the Bushveld Igneous Complex, the largest layered igneous intrusion in the Earth's crust in South Africa.
"Our drill campaigns have successfully leveraged a substantial historic database to arrive at a total of approximately 40,000 meters of drilling in 236 holes to date" said Stillwater President and Chief Executive Officer Michael Rowley. "That wealth of data, combined with Glencore's backing and in-house expertise from similar geology in South Africa's Bushveld Igneous Complex, has positioned us exceptionally well with the largest nickel resource in an active American mining district at a time when the U.S. is looking to onshore supply chains of nine of the commodities we have inventoried."
Stillwater noted that drilling also successfully intercepted N-series mineralization in structures that are not known in the Bushveld Igneous Complex but have now been modeled in a series of eight north-south trending structures at Stillwater West.
These structures contain high-grade nickel sulfide mineralization that was first discovered in drill holes CM2020-04 and CM2021-05 and later re-interpreted. Multiple high-grade base and precious metals intervals were returned, including multigram PGE intercepts ranging up to 3.96 grams per tonne g/t platinum (Pt) and 2.84 g/t palladium (Pd) over 1.16 meters starting at 308.8 meters in hole CM2023-03, in addition to wider intervals such as 44.2 meters at 0.83 g/t 3E (Pd+Pt+gold, or Au) starting at 252.7 meters in hole CM2023-01.
The Catalyst: 'Significant Potential' to Upgrade MRE
The company said the results demonstrate significant potential to expand the 2023 Mineral Resource Estimate (MRE) for the project at three cut-off grades, with wide widths ...