Announcement • Mar 04
Stillwater Critical Minerals Corp Reports Wide Polymetallic Expansion Drilling At Stillwater West Project
Stillwater Critical Minerals Corp. reported a second tranche of results from its 2025 resource expansion drill campaign at the Company’s 100%-owned Stillwater West project in Montana, USA. This release presents results from the Chrome Mountain deposit area and the HGR deposit at Iron Mountain where drilling intersected sulphide-rich polymetallic nickel-copper-cobalt-platinum-palladium-gold mineralization that extends beyond the limits of the January 2023 Mineral Resource Estimate. The 2025 drill program was designed to expand the January 2023 Mineral Resource Estimate along a 10-kilometer mineralized trend at Stillwater West, where a broad zone of sulphide-rich nickel, copper, cobalt, PGE, gold and chromium mineralization has been defined across multiple deposits. Four holes were completed in the Chrome Mountain resource area and two holes with a second drill rig about seven km east in the HGR resource area at Iron Mountain. Chrome Mountain results returned wide intersections rich in palladium, platinum and gold within magmatic nickel and copper sulphide mineralization. As detailed in Table 1, broad, continuous bulk-tonnage intercepts contain internal higher-grade zones, demonstrating continuity across a thick mineralized package confirming significant opportunity for continued resource expansion beyond the 2023 Mineral Resource Estimate boundaries: CM2025-01: Bulk tonnage zones including 204.1 meters @ 0.22% Recovered Nickel Equivalent from 277.4 meters; Mid-grade zones including 40.8 meters @ 0.44% Nickel Equivalent from 329.2 meters; and Higher-grade zones including 4.9 meters @ 0.77% Nickel Equivalent from 354.2 meters. These intercepts include: 40.8 meters @ 1.03 g/t 3E (Pt+Pd+Au) starting at 329.2 meters; 4.7 meters @ 0.46% Ni, 0.48% Cu, 0.05% Co and 0.25 g/t 3E from 116.6 meters; 4.9 meters @ 0.48 g/t Pt and 1.34 g/t Pd from 354.2 meters; and 1.2 meters @ 0.59 g/t Pt and 2.44 g/t Pd starting at 387.7 meters. CM2025-02: Bulk tonnage zones including 172.5 meters @ 0.21% Nickel Equivalent from surface and 176.8 meters @ 0.20% Nickel Equivalent from 282.2 meters; and Mid-grade zones including 29.3 meters @ 0.40% Nickel Equivalent from 29.3 meters; These intercepts include 3.7 meters @ 1.37 g/t 3E with 0.98 g/t Pd starting at 383.4 meters. CM2025-03: Bulk tonnage zones including: 219.5 meters @ 0.20% Nickel Equivalent from 61.0 meters; and Mid-grade zones including 13.4 meters @ 0.45% Nickel Equivalent from 98.8 meters. CM2025-04: Bulk tonnage and mid-grade zones including 4.9 meters @ 0.53% Nickel Equivalent from 39.0 meters. IM2025-01: Bulk tonnage zones including 195.1 meters @ 0.22% Nickel Equivalent from 225.6 meters; Mid-grade zones including 21.9 meters @ 0.47% Nickel Equivalent from 397.5 meters; and Higher-grade zone: 3.7 meters @ 0.75% Nickel Equivalent from 412.1 meters. These intercepts include 2.4 meters @ 1.56 g/t 3E with 0.41 g/t Pt and 1.07 g/t Pd starting at 270.7 meters and 13.4 meters @ 0.37% Ni and 0.18% Cu from 402.3 meters. IM2025-02: Higher-grade zone: 4.3 meters @ 1.36% Nickel Equivalent from 487.7 meters, including 3.0 meters @ 3.71 g/t 3E as 0.34 g/t Pt, 0.50 g/t Pd and 2.87 g/t Au. Chrome Mountain results extend known mineralization eastward toward historic drill holes, confirming strike continuity of the shallow-dipping conductive sulphide target and highlighting potential for continued resource expansion for approximately 325 meters east of the current resource area. Iron Mountain results extend known mineralization approximately 50 meters in both east and west directions from past drilling within the HGR resource. Assays for rhodium and other co-products are pending from all eight holes from the 2025 program. Stillwater is funded and permitted and is finalizing 2026 drill plans focused on resource growth and step-out testing of conductive sulphide targets. Drill core will be on display at core shack 3116B on March 3rd and 4th, 2026, at PDAC. Project Geophysicist Justin Modroo will be presenting Stillwater West airborne EM survey results in a technical session on March 4th at PDAC. Table 1 – Highlight 2025 drill results from the Chrome Mountain and Iron Mountain HGR deposit area. Notes: 1) Highlighted significant intercepts with grade-thickness values over 7 percent-meter recovered Nickel Equivalent are presented above, except as noted. 2) Recovered Nickel Equivalents are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel, $4.50/lb copper, $15.00/lb cobalt, $1,250/oz platinum, $1,250/oz palladium, $3,000/oz gold, and $6,500/oz rhodium. 3) Nickel Equivalent is determined as follows: Nickel Equivalent% = [Ni% x recovery] + [Cu% x recovery x Cu price/Ni price] + [Co% x recovery x Co price /Ni price] + [Pt g/t x recovery /31.103 x Pt price /Ni price /2,204 x 100] + [Pd g/t x recovery /31.103 x Pd price /Ni price /2,204 x 100] + [Au g/t x recovery /31.103 x Au price /Ni price /2,204 x 100]. 4) In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t. 5) The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations. 6) Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.20% nickel equates to a copper value of 0.36%, or a palladium value of 0.88 g/t, using the above metal values. 7) Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization. The 3,471 meters completed in 2025, together with 2,310 meters drilled in 2023 and select historic holes, are being incorporated into an updated Mineral Resource Estimate targeted for the first half of 2026.
