Stillwater Critical Minerals Files NI 43-101 Technical Report for the Updated Stillwater West Mineral Resource Estimate in Montana, USA
Original announcement by jmn on
- Company
- Stillwater Critical Minerals Corp.
- Ticker
- PGE
- Exchange
- TSXV
- Region
- Montana, USA
- Primary commodity
- Nickel
- Secondary commodities
- Copper, Cobalt, Platinum, Palladium, Gold, Rhodium, Chromium
- Document categories
- Resource update, Other
- Extracted
- 2026-10-19 12:39:35 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Stillwater Critical Minerals has filed an NI 43-101 Technical Report supporting its updated 2026 Mineral Resource Estimate at the Stillwater West project in Montana. The estimate includes a maiden Indicated Resource of 29.4 Mt at 0.38% NiTEq and an expanded Inferred Resource of 805.1 Mt at 0.34% NiTEq.
Reasoning: The document is a filing of a technical report supporting a previously announced resource update. While the resource itself is significant (maiden indicated), the news is a regulatory filing of the report rather than the initial announcement of the resource numbers.
Positive factors
- Establishment of first Indicated Mineral Resource
- Significant expansion of Inferred Mineral Resource
- Large scale of critical minerals (Ni, Cu, Co, PGEs, Cr)
- Strategic location in active U.S. mining district
Facts used in scoring: 3
Classification and evidence
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The document explicitly states the technical report was prepared in accordance with NI 43-101 standards.
Evidence · text
“prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The company has established its first Indicated Mineral Resource.
Evidence · text
“established its first Indicated Mineral Resource”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (3)
indicatedStillwater West · nickelTonnes: 29400000View all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- nickel
- Region
- usa_mt
- Reported Region
- Montana, USA
- Ticker
- PGE
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Timothy O. Kuhl, Ted Eggleston
- Resource group id
- resource:90930581671fe50bdaf5
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 29400000
- Cutoff Grade
- 0.2
- Cutoff Unit
- % NiTEq
Prior Estimate
- Resource Date
- 2026-10-16
Metal Equivalent
- Metal Eq. Grade
- 0.38
- Metal Eq. Unit
- % NiTEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: First Indicated resource established for the project.
Positive factors
- Maiden Indicated Resource
Evidence · text
“First Indicated Mineral Resource: 29.4 million tonnes ("Mt") grading 0.38% total nickel equivalent ("NiTEq") at a 0.20% NiTEq cut-off grade.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredStillwater West · nickelTonnes: 805100000View all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- nickel
- Region
- usa_mt
- Reported Region
- Montana, USA
- Ticker
- PGE
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Timothy O. Kuhl, Ted Eggleston
- Resource group id
- resource:6cb20b85e1e87d58ab3e
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 805100000
- Cutoff Grade
- 0.2
- Cutoff Unit
- % NiTEq
Prior Estimate
- Resource Date
- 2026-10-16
Metal Equivalent
- Metal Eq. Grade
- 0.34
- Metal Eq. Unit
- % NiTEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Significant expansion of the inferred resource scale.
Positive factors
- More than doubled Inferred resource
Evidence · text
“Expanded Inferred Mineral Resource: 805.1 Mt grading 0.34% NiTEq at a 0.20% NiTEq cut-off grade.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredStillwater West · chromiumContained Metal: 6.6Contained Unit: billion poundsView all detailsHide details
Identity
- Project
- Stillwater West
- Commodity
- chromium
- Region
- usa_mt
- Reported Region
- Montana, USA
- Ticker
- PGE
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Timothy O. Kuhl, Ted Eggleston
- Resource group id
- resource:18c3b8a193dd2b939a91
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Contained Metal
- 6.6
- Contained Unit
- billion pounds
Prior Estimate
- Resource Date
- 2026-10-16
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Large chromium resource identified in the inferred category.
Positive factors
- Significant additional chromium resource
Evidence · text
“An estimated 6.6 billion pounds of chromium in the Inferred category”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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.