Stillwater Critical Minerals has announced the discovery of new sulphide mineralization within a 12-kilometer electromagnetic anomaly at its Stillwater West project in Montana. This discovery is part of the company’s resource expansion drilling campaign funded by Glencore Canada, which now holds a 15.4% equity stake in Stillwater after additional investments totaling approximately $7.05 million.
The drilling campaign, consisting of six holes totaling 2,310 meters, aimed to expand deposits at the west end of the nine-kilometer-long Stillwater West resource area. Holes CM2023-04, -05, and -06 intercepted magmatic nickel and copper sulphide mineralization associated with a previously untested electromagnetic anomaly.
Significant intercepts include:
- CM2023-04: Bulk tonnage: 98.8 meters at 0.27% NiEq; Mid-grade: 44.0 meters at 0.35% NiEq; High-grade: 2.6 meters at 0.71% NiEq.
- CM2023-05: Bulk tonnage: 293.8 meters at 0.22% NiEq and 45.1 meters at 0.33% NiEq; Mid-grade: 52.1 meters at 0.49% NiEq and 14.9 meters at 0.60% NiEq; High-grade: 4.8 meters at 1.22% NiEq.
- CM2023-06: Bulk tonnage: 158.9 meters at 0.22% NiEq; Mid-grade: 25.9 meters at 0.50% NiEq; High-grade: 5.8 meters at 0.96% NiEq.
These results support the potential to expand the 2023 Mineral Resource Estimate at various cut-off grades, demonstrating significant widths of higher-grade mineralization. The company’s detailed geological model, informed by expertise from similar geology in the Bushveld Igneous Complex, continues to guide successful exploration.
Stillwater’s President and CEO, Michael Rowley, highlighted the project’s potential as a large-scale primary source of low-carbon critical minerals. The project offers flexibility in mining methods and significant co-product values, providing resilience to price fluctuations. The proximity to Sibanye-Stillwater’s adjacent mines and infrastructure further supports rapid advancement toward meeting the US government’s objective of building domestic supply chains for critical minerals.
Vice President Exploration, Dr. Danie Grobler, emphasized the 100% success rate in intersecting significant magmatic sulphides during the 2023 season. High-resolution geophysics has been pivotal in identifying EM target anomalies for future drilling campaigns.
The Stillwater West project covers the lower Stillwater Igneous Complex, with mineralization styles including Platreef-style Ni-PGE-Cu-Co, N-Series high-grade nickel sulphide, and stratiform reef-type PGE-Ni-Cu chromitite mineralization. The project’s first ever detailed geological model has proven highly successful in guiding exploration.
The company’s next steps include further drilling to expand the recent discoveries and assays pending from holes CM2023-01, -02, and -03. The potential to recover value from the ferrochrome content is also being explored, driven by the 2.3-billion-pound chromium resource defined in January 2023. 
