Glencore would hold a 9.99% equity interest in Stillwater upon completion of a private placement.

Company plans to undertake 4,015 metres of reverse circulation drilling across 11 holes this year, targeting resource expansion and exploring new prospects.

Total resources in the indicated category are estimated at 57.1 million tonnes grading 1.11 g/t gold, for approximately 2 million gold ounces.

The 2023 drill program will focus on testing its lateral and vertical extensions as well as extending the Pelham zone.

The Wedge deposit was discovered in 1956 by Cominco, and it operated the mine between 1962 and 1968.

Measured and Indicated resources have increased from 2.19 to 2.93 million tonnes of lithium carbonate equivalent.

Compared to the resource update of October 2022, the new numbers represent a 16% increase in contained gold and an 8% increase in the grade in the indicated material.