by Greg Klein | March 1, 2016
Still growing its northern presence, Group Ten Metals TSXV:PGE has staked additional ground for the Spy project in southwestern Yukon. That increases the platinum group metals-nickel-copper property by 1,250 hectares to total 3,135 hectares, the company announced February 29.
Group Ten optioned 100% of the first claim block in September for 1.05 million shares over three years and a 3% NSR. With funding assistance from the Yukon government, the company then conducted silt and rock sampling, prospecting, mapping and reinterpretation of previous geophysics. Once assays arrive, they’ll be integrated with the geophysical reinterpretation to define targets for trenching and possibly drilling.
Historic, non-43-101 grab samples returned grades as high as 75.8 grams per tonne platinum, 7.9 g/t palladium, 7 g/t gold, 2.6% nickel and 10.45% copper, Group Ten reported.
Spy comprises one of three road-accessible Group Ten projects in the 600-kilometre-long Kluane Ultramafic Belt, stretching from northern British Columbia through the Yukon into southern Alaska. Roughly 40 kilometres north of Spy sits Group Ten’s flagship Catalyst project, which borders on three sides the Wellgreen PGM-nickel project, where Wellgreen Platinum TSX:WG completed a preliminary economic assessment last year. Group Ten’s Ultra project sits south of Spy.
In September the company also picked up the Duke Island copper-nickel-PGE project on the Alaska Panhandle for two million shares and a 1% NSR. In western Ontario Group Ten holds the Black Lake/Drayton gold project.