Mining News: Northern Neighbors: Group Ten lands third Yukon PGM project

Group Ten Metals Inc., formerly Duncastle Gold Corp., Sept. 14 said it has signed an agreement to earn full ownership of the Spy platinum group metal-nickel-copper property in southwestern Yukon Territory. The 1,250-hecatre Spy property is located roughly 40 kilometers (25 miles) southeast of the company’s Catalyst project that adjoins Wellgreen Platinum’s Wellgreen PGE-Cu-Ni Project. Group Ten has the option to earn a 100 percent interest in Spy by issuing 1.05 million shares over three years. The vendors retain a three percent net smelter return royalty with a buy-down to one percent for C$1.5 million before the start of production. Group Ten Metals now holds three projects – Spy, Ultra and Catalyst – in the Kluane Ultramafic Belt of southwestern Yukon.

–Shane Lasley