RCS - Golden Metal Rsrcs. - US Quotation Upgraded to OTCQX Market

Guardian Metal ResourcesAnnouncement

28/06/2024 07:00

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RNS Number : 2607U  Golden Metal Resources PLC  28 June 2024

28 June 2024

Golden Metal Resources plc

('Golden Metal' or the 'Company')

US Quotation Upgraded to OTCQX Market

Golden Metal Resources plc (LON:GMET, OTCQX:GMTLF), a mineral exploration
company focused on tungsten, copper, silver, gold and lithium within Nevada,
USA, is pleased to announce that the Company has been upgraded from the OTCQB
Market to the OTCQX Market in the USA, where it continues to trade under the
symbol GMTLF.

In addition, as a reminder, Golden Metal is to change its name to Guardian
Metal Resources plc. Formal papers have been submitted to effect this change
and the name change confirmation is still awaited from Companies House, which
is expected to occur in the coming days. The Company will confirm as soon as
this administrative process is complete and would note the stock code will
remain as LON:GMET and OTXQX:GMTLF.

Oliver Friesen, CEO of Golden Metal, commented:

"We are delighted that we have been upgraded to the OTCQX Market, which is a
reflection of the positive momentum the Company continues to build within the
US markets and abroad.

"The Company anticipates a series of operational and corporate news
announcements to the market over the coming weeks and months, given the
extensive operational activities underway and planned in the field."

 

About OTCQX

 

The OTCQX Market is designed for established, investor-focused U.S. and
international companies. To qualify for OTCQX, companies must meet high
financial standards, follow best practice corporate governance, and
demonstrate compliance with applicable securities laws. Graduating to the
OTCQX Market marks an important milestone for companies, enabling them to
demonstrate their qualifications and build visibility among U.S. investors.

 

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For further information visit www.goldenmetalresources.com
(http://www.goldenmetalresources.com) or contact the following:

 Golden Metal Resources plc       Tel: +44 (0) 20 7583 8304

 Oliver Friesen (CEO)
 Shard Capital Partners LLP       Tel: +44 (0) 20 7186 9000

 Lead Broker

 Damon Heath/Erik Woolgar
 First Equity Limited             Tel: +44 20 7374 2212

 Broker

 Jonathan Brown/Jason Robertson

 

THE PROJECTS

Pilot Mountain Project

The Pilot Mountain project is an advanced exploration and mineral resource
definition stage project located in Mineral County in western Nevada. The
project covers an area of 14.80 km(2) (3,904.1 acres) and is located 200km
southeast of Reno and 18km east of Mina, Nevada. It is well situated for
the supply of power, water and skilled labour and proximity to transport
infrastructure in Mineral County and is centred around four existing mineral
deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which
possess significant skarn-style tungsten-copper-silver-zinc
mineralisation. The Pilot Mountain project consists of 176 active lode
mining claims and 4 filed mill site claims. The four mill site claims filed at
the former Dunham mill site have secure access to groundwater supply
sufficient for the proposed project.

Garfield Project

The Garfield Project is an exciting copper-gold-silver prospect consisting of
65 lode mining claims covering 9.18 km2 (2,268 acres) located in Mineral
County, Nevada, approximately 14km due east of the town of Hawthorne and
120km due west-northwest of Tonopah. Exploration to date has included
detailed geochemical sampling and follow up analysis which highlighted the
presence of both porphyry and skarn-type mineralisation and alteration at the
'High-Grade Zone'. Further to this, mapping, prospecting and rock sampling was
recently completed with results confirming presence of high-grade copper,
silver and gold mineralisation as well as leading to the bedrock discovery of
the Pamlico Au Zone with individual rock samples up to 18.35g/t Au, 1,225g/t
Ag & 1.89% Cu. Following this, geochemical analysis of the full suite of
data confirmed the strong presence of porphyry style mineralisation across the
Project, as well as potentially overprinting epithermal style mineralisation
leading to increased gold-silver prospectivity.

Kibby Basin Lithium Project

The Kibby Basin Project covers two claim packages which are prospective for
lithium brine mineralisation. The southern claim package is less than 250m
from a 2022 drillhole which returned a significant interval (169m) of lithium
brine mineralisation which was determined to be open in all directions. The
Project is less than 5km to the southeast of the Company's flagship Pilot
Mountain Project.

Golconda Summit Project

Golden Metal is the operator of the Golconda Summit project, which is held
under an earn-in right to acquire up to 100 per cent. of the project from the
mineral claim owner pursuant to an option agreement. The Golconda Summit
project is an exploration stage gold and silver project located in Humboldt
County and situated at the confluence of the Getchell and Battle
Mountain - Eureka metallogenic trends, and consists of 44 lode mining
claims, covering a total area of approximately 3.22 km(2) (795.4 acres)
located approximately 27km east of Winnemucca.

Stonewall Project

The Stonewall project is an exploration stage gold-silver property prospective
for epithermal gold-silver mineralisation. The property consists of 19 lode
mining claims covering 1.59 km(2) (392.5 acres) located on the northern flank
of Stonewall Mountain, on the western edge of the Nellis Airforce Range
Restricted Access Area, in Nye County, Nevada, approximately 24km south-east
of the historic gold mining town of Goldfield and 60km due south
of Tonopah.

 

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