Stillwater Critical Minerals – Exploration Update At Stillwater West Where Multiple New Sulphide-Rich Mineralized Structures Have Been Identified, Plus Value Drivers On 4 Non-Core Projects
Michael Rowley, President and CEO of Stillwater Critical Minerals (TSX.V: PGE – OTCQB: PGEZF), joins me to review some of the recent exploration work going on at the Company’s flagship Stillwater West Ni-PGE-Cu-Co + Au Project in Montana, as well providing an update on the value drivers moving forward on their 4 other non-core properties.
With regards to the Stillwater West Project, a total of 6 holes totaling 2,310 meters were completed within and outside of the current resource area, west and south of the current DR-Hybrid deposit, as part of a planned multi-phase program. The focus was on expanding recent high-grade discoveries at Chrome Mountain at the west end of the nine-kilometer-long resource area.
Mike and I start off reviewing what drill holes # CM2023-05 and CM2023-06 confirm back to the exploration team, under the direction of Dr. Danie Grobler, as it relates to the deposit continuing to demonstrate the layered mineralization similar to the geology from South Africa’s Platreef district. The Company is applying geologic models from the Platreef district based on well-documented parallels between the Stillwater Igneous Complex and the Bushveld Igneous Complex, which hosts very large Ni-Cu-PGE mines that are now in operation by Ivanhoe Mines and Anglo American.
Next we touched upon recent holes identification and expansion of the N series of sulphide-rich mineralized structures parallel to high-grade nickel sulphide mineralization first discovered by the Company in prior drill holes CM2021-05 and CM2020-04. Some of the new holes and a prior holes have now been defined as N1, N2, and N3, and represent a second mineralized event of cross-cutting structures. As reported May 3, 2022, N1 returned 13.2 meters grading 2.89% Recovered Nickel Equivalent (2.31% Ni, 1.51 g/t 4E, 0.35% Cu, and 0.115% Co), starting at 37.6 meters and is contained within 400.8 meters of continuous battery and precious metal mineralization. We also discussed the deep roots under Chrome Mountain as a potential feeder system warranting further follow up drilling.
Mike mentioned for listeners to also key an eye out for results over the next few months from the drilling now underway at their Drayton-Black Lake Project by Heritage Mining (CSE: HML). Heritage Mining is under an earn-in agreement, by which they can earn a 90% interest in the project by completing work commitments and making payments of cash and shares to the Company.
Exploration work is now underway at the Company’s 100%-owned Kluane PGE-Ni-Cu project in Yukon, Canada, funded in part by a Yukon Mineral Exploration Program grant. Those results will be coming out to the market early in the new year and this project is attracting more attention from other companies that may want to partner on it. Mike also touches upon further value drivers for next year from both the Duke Island Project in Alaska and their long-standing Yankee Dundee Project.
If you have any questions for Mike regarding Stillwater Critical Minerals, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Stillwater Critical Minerals.