Stillwater Critical Minerals Reports Wide Polymetallic Expansion Drilling Including 40.8 Meters at 1.0 g/t Palladium, Platinum and Gold, within Nickel-Copper-Cobalt Sulphide Mineralization at Stillwater West, Montana, USA
Stillwater West expansion drilling hits wide polymetallic zones as Glencore-backed explorer builds momentum toward 2026 resource update.

The most recent news (March 3, 2026) reports the second tranche of results from the 2025 resource expansion drill campaign at the Stillwater West project in Montana. Key highlights include 204.1 meters at 0.22% Recovered Nickel Equivalent (NiEq) and a higher-grade interval of 40.8 meters at 1.03 g/t 3E (Pt+Pd+Au). Drilling at Chrome Mountain and Iron Mountain (HGR zone) successfully intersected sulphide-rich mineralization extending beyond the boundaries of the existing January 2023 Mineral Resource Estimate (MRE). The company is fully funded for 2026 and is currently finalizing drill plans to test conductive targets identified by 2024 geophysical surveys.
The news is Routine - Positive. While the drill intercepts are wide and confirm the "Platreef-style" mineralization model management has touted, they are incremental in nature. - Resource Growth: The results successfully demonstrate that mineralization is open along strike and at depth, providing the necessary data for the upcoming H1 2026 MRE update. - Consistency: The results align with the first tranche (Feb 26, 2026) and the geological model updated in March 2025. - Validation: Intersecting mineralization in all eight holes of the 2025 program validates the use of MobileMT geophysics for targeting. - Market Context: While positive, these results were largely anticipated following the "visually promising" core updates provided in late 2025. The grades, while consistent with bulk-tonnage targets, do not yet represent a "game-changing" discovery of massive sulphides that would re-rate the company independently of the broader resource expansion.
Stillwater Critical Minerals is focused on the Stillwater West Project in Montana, USA. It is a large-scale, polymetallic project (Ni-Cu-Co-PGE-Au) adjacent to Sibanye-Stillwater’s high-grade PGE mines. The project is modeled after South Africa’s Bushveld Complex (Platreef), characterized by thick intervals of disseminated to semi-massive sulphides. The current MRE (Jan 2023) contains 1.6 billion lbs of Ni-Cu-Co and 3.8 million oz of Pd-Pt-Rh-Au.