Toronto, Ontario--(Newsfile Corp. - June 12, 2025) - GT Resources Inc.(TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) (the "Company" or "GT") is pleased to provide an update with regard to plans for the North Rock Project (Canada) and The Läntinen Koillismaa ("LK") Project (Finland) both Copper-Palladium-Platinum projects.
Highlights
North Rock Copper - Palladium - Platinum ("PGE") Project, Ontario, Canada
The 2024 exploration program identified off hole geophysical conductors adjacent to historic high-grade footwall vein intercepts which returned up to 14.6 g/t Palladium, 0.5 g/t Platinum, 0.3 g/t Gold and 2.3% Copper, and 0.6% Nickel over 0.6 meters in NR07-062 (see January 27, 2025 news release)
Upcoming exploration programs include additional Bore Hole Electro Magnetic ("BHEM") surveys of more historic holes, followed by detailed drill plans to target high-grade massive sulphide footwall style copper-palladium rich veins.
LK PGE - Copper - Nickel Project, Finland
LK is the Company's most advanced project with a substantial Palladium-Platinum-Copper rich open pit resource (see April 25, 2022 news release)
LK project remains wide open for expansion, notably along the 17 km long Haukiaho Trend (see July 20, 2022 news release)
Neil Pettigrew, Vice President Exploration, commented "With a significant mineral endowment, LK is the Company's most advanced project and is well position as a source of critical minerals for the European Union.
At North Rock high-grade copper-palladium-rich footwall style veins were not targeted by prior operators who focused on broader zones of disseminated copper-rich gabbro hosted mineralization. We believe there is substantial potential for high-grade footwall style mineralization, and this will be a core focus of future exploration programs."
North Rock Copper - Palladium - Platinum ("PGE") Project, Ontario Canada
The North Rock project is located in Northwest Ontario, boasts excellent infrastructure (bisected by a paved provincial highway and a railroad) and is crossed by power lines. The mineralization consists of copper-rich magmatic sulphide, along a 13-kilometer basal contact of mafic and ultramafic volcanic rocks (Figure 1). The mineralization occurs in two main styles; a more copper-rich "gabbro hosted" disseminated to locally net-textured sulphide within the basal heterolithic, varitextured gabbro, and as massive copper-palladium-rich sulphide "footwall vein" style within the footwall volcanic rocks.
Two very shallow zones have been discovered to date, the most significant of which is the Beaver Pond Zone (Figure 1), which hosts a Historic Resource Estimate1 of 1 million tons grading 1.2% Copper. The Beaver Pond Zone was discovered by Noranda in 1958 and subsequently explored from underground via a 90-meter deep shaft and one drift on the 70m level.
The Company undertook a BHEM survey in Q4 2024 on select historic holes located within the Beaver Pond zone. This was the first BHEM survey conducted on the property and was a "test case" to see if the North Rock mineralization was amenable to BHEM techniques. A prime focus of the survey was hole NR07-062, which at 780 meters is by far the deepest hole drilled on the project. This hole returned several conductors which have been modelled as Maxwell EM plates (Figure 2) with some plates corresponding to known footwall style copper-palladium-rich mineralization. The survey identified both "in hole" and "off hole" conductors potentially representing untested footwall style mineralization.
Future exploration plans include opening up historic drill trails to provide better access historic holes for more extensive BHEM surveys, including the East Zone (Figure 1) where abundant footwall vein style mineralization has been intersected. This initial phase would be followed by diamond drilling.
Figure 1. Historic zones of copper-platinum-palladium-rich mineralization along the favorable basal contact of the Grassy Portage Gabbroic complex.
Figure 2. Cross section, looking northeast through the Beaver Pond Zone showing historic drilling and newly modelled Maxwell EM plates, note hole NR07-062, the deepest hole on the property that hit footwall style Cu-PGE mineralization, but missed the gabbro hosted mineralization.
The LK Project, located in central Finland represents the Company's most advanced project with a significant NI 43-101 compliant open pit resource (Table 1a & 1b) and is well position to supply the European Union with critical minerals, notably copper, palladium and platinum, of which Europe is heavy dependant on imports with only one producing mine (Boliden's Kevitsa mine in Finland). Boliden also operates both copper and nickel smelters in Finland, thereby providing LK a potential competitive advantage.
The 17-kilometer long Haukiaho trend represents the nearest term expansion potential (Figure 3). The Haukiaho Deposit currently occupies only 2 kilometers of this trend. Historic drilling along this trend, primarily by Outokumpu in the 1960's was only sampled for copper and nickel, partial resampling of historic drill core by the Company in 2022 (see July 20, 2022 news release) returned significant platinum and palladium grades.
Figure 3. Location Map of the LK Project, NI 43-101 Mineral Resources, and near-term expansion potential
CIM (2014) definitions were followed for Mineral Resources.
The Mineral Resources have been reported above a preliminary open pit constraining surface using a Net Smelter Return (NSR) pit discard cut-off of US$12.5/t (which for comparison purposes equates to an approximately 0.65 g/t Palladium Equivalent in-situ cut-off, based on metal prices only).
The NSR used for reporting is based on the following:
Long term metal prices of US$ 1,700/oz Pd, US$ 1,100/oz Pt, US$ 1,800/oz Au, US$ 4.25/lb Cu, US$ 8.50/lb Ni and US$ 25/lb Co.
Variable metallurgical recoveries for each metal were used at Kaukua and Murtolampi and fixed recoveries of 79.8% Pd, 80.1% Pt, 65% Au, 89% Cu, 64% Ni and 0% Co at Haukiaho.
Commercial terms for a Cu and Ni concentrate based on indicative quotations from smelters.
Total Precious Metals (TPM) equals palladium plus platinum plus gold
Bulk densities range between 1.8 and 3.23 t/m3.
Numbers may not add up due to rounding.
Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
The Mineral Resource Estimate was prepared by the Company under the supervision of Mr. Sean Horan, P.Geo., Technical Manager of Geology at SLR Consulting Ltd., based in Toronto, Ontario, Canada. Mr. Horan is an Independent Qualified Person as defined by NI 43-101. The Mineral Resource Estimate in the April 25, 2022 news release has been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (May 14, 2014).
1 - Disclaimer - Historical Resource Estimate - North Rock
Readers are cautioned that the Company has not attempted to verify historic mineral resource estimates and therefore readers should not place any reliance on any historical estimate. A qualified person has not done sufficient work to classify a historical estimate as a current mineral resource, additionally, a qualified person has not yet determined what work needs to be done to upgrade or verify a historical estimate as a current mineral resources or mineral reserves.
The Company is not treating any historical estimates as current mineral resources.
A Historical Resource Estimate on the Beaver Pond Zone of the North Rock project is quoted at 1 million tons grading 1.2% copper by Bergman (1973) (Ontario Mineral Deposit Inventory record MDI52C11NE00029). The parameters, methodology and categorise used are not known, and thus the reliability of the estimate cannot be determined, however, it is still considered relevant as underground development and diamond drilling in the 1960 & 1970s supported the estimate and provides a guide for future exploration.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About GT Resources
GT Resources Inc. (TSXV: GT) is a mineral exploration company with a strategy to develop copper, nickel, platinum and palladium mining projects in Europe and North America. Our projects are located in Finland and Canada and are comprised of district scale opportunities that have attracted strategic investment from a major mining company.
ON BEHALF OF THE BOARD "Derrick Weyrauch" President & CEO, Director
For further information contact: Derrick Weyrauch, President & CEO Email: info@GTResourcesinc.com
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This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of GT Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
