Group Ten Metals Inc. (OTCMKTS:PGEZF) Stock Jumps 10% In a Week: Here is Why
Group Ten Metals Inc. (OTCMKTS:PGEZF) is up 10% in a week. The company has announced partial findings from its initial two drill holes for the 14-hole resource expansion initiative finalized in 2021 at its Stillwater West PFE-Ni-Cu-Co +Au project in Montana.
Market Stats
On Tuesday, PGEZF stock fell 1.45% to $0.2989 with more than 310K shares, compared to its average volume of 213k shares. The stock has moved within a range of $0.2780 – 0.3190 after opening trading at $0.2780.
Major News
The results will form the foundation for an updated resource projection in 2022. The CZ2021-01 drill hole produced a broad high-grade resource intercept on the Project with 63.7m of 0,92% Nickel Equivalent matching 2.46g/t Palladium Equivalent with 0.27% Cu, 0.04% Co, 0.47% Ni, and 0.42 g/t Pd with substantial AU and Pt values. The second hole, CM2021-01, returned the largest mineral intercept at the Stillwater project with 728m of sulfide mineralization at 0.73g/t PdEq or 0.27% NiEq.
CEO Michael Rowley stated that the initial results from the two holes offer a strong demonstration of the company’s ability to target mineralized regions at the Project. In addition, there is clear evidence that the company’s geological model using tools such as induced polarization geophysics effectively and accurately guides the company. SO investors should watch PGEZF.
Key Quote
Michael Rowley, President and CEO, commented, “These initial results from the first two holes of our 2021 resource expansion drill campaign provide the strongest demonstration to date of our ability to target highly mineralized zones at Stillwater West, with significant wide intervals reaching more than five times the cut-off grade used in our recent resource estimate. This is very clear evidence that our predictive geologic model, utilizing tools like deep penetrating induced polarization geophysics, is accurately and effectively guiding us to drill wide zones of higher-grade nickel-copper-cobalt sulphide mineralization (battery metals), enriched in palladium, platinum, rhodium (platinum group elements), and gold. In addition to driving increased size and grade in our planned resource update, our ability to target effectively as we step-out from known mineralization in a large magmatic system is delivering incredibly low discovery costs as we advance the project.”
Traders Corner
PGEZF stock is trading above the 20-Day and 50-Day Moving averages of $0.28 and $0.29 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.30.
