Stillwater Critical Minerals (TSXV:PGE) has reported a 62% increase in the updated independent mineral resource estimate for its wholly owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (PGE-Ni-Cu-Co + Au) project in Montana, USA.
The study, which was completed by SGS Geological Services, showed significant increases in tonnage and contained metal at both a bulk tonnage 0.20% nickel equivalent (NiEq) cut-off (Base Case) and a 0.35% NiEq higher grade bulk tonnage cut-off. A high-grade, selective mining component at a 0.70% NiEq cut-off is presented for the first time.
2023 Resource Highlights
- Base Case Inferred mineral resources of 1.6 billion pounds (Blbs) of nickel, copper and cobalt and 3.8 million ounces (Moz) palladium, platinum, rhodium, and gold (4E) in a constrained model totaling 255 million tonnes (Mt) at an average grade of 0.39% total estimated recovered NiEq (or 1.19 g/t Palladium Equivalent PdEq).
- Significant increases in contained metals over the 2021 study at the Base Case 0.20% NiEq cut-off:
- Tonnage: 255Mt (62% increase)
- Palladium: 2.05Moz (56% increase)
- Nickel: 1.05Blbs (52% increase)
- Platinum: 1.26Moz (66% increase)
- Copper: 499Mlbs (44% increase)
- Gold: 395Koz (30% increase)
- Cobalt: 91Mlbs (31% increase)
- Rhodium: 115Koz (76% increase)
- The selective mining high-grade component yielded 11.6Mt at 1.05% Total NiEq (or 3.24g/t Total PdEq) as 0.56% Ni, 0.33% Cu, 0.03% Co with 0.54g/t Pd, 0.27 g/t Pt, 0.15g/t Au and 0.019g/t Rh. Expansion of this high-grade component results from the addition of high-grade mineralization encountered in the 2021 drill campaign.
- Sulphur grades of 1.13% to 6.16% indicate desirable high nickel tenor in sulphide, supporting effective recovery via conventional flotation techniques.
- 2.27Blbs of chromium has been inventoried. Chromium is defined by the US government as a critical mineral.
- Deposits in the 2023 Resource are defined by 156 drill holes from a total of 230 holes drilled on the Stillwater West property and include all holes from the Company’s three campaigns to date.
- The 2023 Resource is contained within five deposits in the 9km central area of the project, all of which are open along strike and at depth. Multi-km scale geophysical targets and metal-in-soil anomalies indicate excellent expansion potential. Untested anomalies and earlier stage targets extend across much of the 32km-long Stillwater West project.
“We are very pleased with the expanded 2023 resource, which returned substantial increases in tonnage and contained metals while also increasing the high-grade component,” President and CEO, Michael Rowley, said.
“Overall, these increases speak to the fantastic growth potential and under-explored nature of the Stillwater West project, and to our ability to rapidly increase resources in these wide-open deposits with targeted expansion drilling at low discovery costs. Our Stillwater West project, with its world-class endowment of eight critical minerals, is unique in the United States as a district-scale asset located in an active, producing district that has a long history of large-scale critical mineral production.
“The US government has recognised the importance of critical minerals to both economic and national security interests and is taking increasing action to secure domestic supply of these key metals at a time when we are advancing Stillwater West and demonstrating its potential.
“Our exceptional team, with multi-decades of experience at both Stillwater and in the parallel layered geology of the Bushveld Igneous Complex, is well-positioned to advance the asset. We look forward to continuing to build on our success and low discovery costs as we finalise our follow up expansion programmes for 2023.”
For further information please visit: https://criticalminerals.com/
