When Tungsten Costs More Than Gold Used To, Miners Step Up
Original announcement by tmx on
- Company
- Stillwater Critical Minerals
- Ticker
- PGE
- Exchange
- TSX
- Region
- Montana
- Primary commodity
- Nickel
- Secondary commodities
- Copper, Cobalt, Pge, Gold
- Document categories
- Drill results, Other
- Extracted
- 2026-09-12 18:46:59 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Stillwater Critical Minerals reported significant near-surface nickel-copper-cobalt-PGE-gold mineralization at the Stillwater West project in Montana. Intercepts include 201.6m at 0.20% NiEq and 106.1m at 0.34% NiEq, with an updated Mineral Resource Estimate targeted for H1 2026.
Reasoning: Significant near-surface nickel-equivalent intercepts reported, confirming extension of known mineralization.
Positive factors
- extension of shallow sulphide-rich mineralization
- continuity towards Central and HGR deposits
- high-grade internal zones
Facts used in scoring: 3
Classification and evidence
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: Results confirm extension of shallow sulphide-rich mineralization beyond the current CZ deposit resource.
Evidence · text
“confirm the extension of shallow sulphide-rich mineralization beyond the current CZ deposit resource”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Drill Results (3)
Fact 1Stillwater West · nickelGrade: 0.2Grade Unit: %Intercept: 201.6 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- nickel
- Region
- usa_mt
- Reported Region
- usa_mt
- Ticker
- PGE
Geometry
- Grade
- 0.2
- Grade Unit
- %
- Intercept
- 201.6 m
- From
- 16.9 m
- To
- 218.5 m
- Intercept Depth
- 16.9 m
Classification
- Sample Type
- drill
- Group ID
- Stillwater_West:16.9-218.5
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 0.2
- Metal Eq. Unit
- % nickel equivalent
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-03-02T00:00:00.000Z
Reasoning: Large width intercept at shallow depth confirming extension.
Positive factors
- wide intercept
- near-surface
Evidence · text
“201.6 meters grading 0.20% nickel equivalent from just 16.9 meters depth”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Metal Equivalent Opaquenegative
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.
Why it applies: an equivalent grade is reported without its assumptions
Fact 2Stillwater West · nickelGrade: 0.34Grade Unit: %Intercept: 106.1 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- nickel
- Region
- usa_mt
- Reported Region
- usa_mt
- Ticker
- PGE
Geometry
- Grade
- 0.34
- Grade Unit
- %
- Intercept
- 106.1 m
- From
- 12.2 m
- To
- 118.3 m
- Intercept Depth
- 12.2 m
Classification
- Sample Type
- drill
- Group ID
- Stillwater_West:12.2-118.3
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 0.34
- Metal Eq. Unit
- % nickel equivalent
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-03-02T00:00:00.000Z
Reasoning: Stronger grade intercept than the bulk intercept.
Positive factors
- higher grade than previous intercept
- internal high-grade zones
Evidence · text
“106.1 meters at 0.34% nickel equivalent from 12.2 meters”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Metal Equivalent Opaquenegative
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.
Why it applies: an equivalent grade is reported without its assumptions
Fact 3Stillwater West · nickelGrade: 0.76Grade Unit: %Needs review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- nickel
- Region
- usa_mt
- Reported Region
- usa_mt
- Ticker
- PGE
Geometry
- Grade
- 0.76
- Grade Unit
- %
Classification
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
Metal Equivalent
- Metal Eq. Grade
- 0.76
- Metal Eq. Unit
- % nickel equivalent
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-03-02T00:00:00.000Z
Reasoning: Significant internal high-grade zone reported.
Positive factors
- high-grade zone
Evidence · text
“internal higher-grade zones reaching 0.76% nickel equivalent”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Metal Equivalent Opaquenegative
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.
Why it applies: an equivalent grade is reported without its assumptions
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.