RCS - Guardian Metal Rsrc. - USA Tungsten Update

Guardian Metal ResourcesAnnouncement

11/07/2024 09:30

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RNS Number : 0357W  Guardian Metal Resources PLC  11 July 2024

11 July 2024

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

USA Tungsten Update

Guardian 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 advise shareholders of important developments potentially
impacting the Company's tungsten interests, namely 100% owned flagship Pilot
Mountain Project ("Pilot Mountain" or the "Project") located within the Walker
Lake Mineral Belt in Nevada, USA.

On 8 July 2024 the United States Senate Committee on Armed Services published
a report to accompany S. 4638, the National Defense Authorization Act for
Fiscal Year 2025.

The Report included consideration of the criticality of the tungsten commodity
and an extract from this Report is provided below:

https://www.armed-services.senate.gov/imo/media/doc/fy25_ndaa_committee_report.pdf
(https://www.armed-services.senate.gov/imo/media/doc/fy25_ndaa_committee_report.pdf)

Extract of the Report (Title VIII Acquisition Policy, Acquisition Management
and Related Matters - Items of Special Interest - Page 301)

"Domestic source of antimony and tungsten:

"The committee is aware of the importance of the critical materials tungsten
and antimony within the defense industrial base. The Senate report
accompanying S. 4543 (S. Rept. 117-130) of the National Defense Authorization
Act for Fiscal Year 2023 (Public Law 118-31) included language on concerns
surrounding the antimony supply chain. The Defense Logistics Agency stockpiles
antimony, and there are existing efforts through the Defense Production Act to
invest in a diverse domestic antimony capability. The committee recognizes
that China and Russia dominate the global tungsten and antimony supply chains,
and remains concerned, as a result of the Russian war on Ukraine, about the
stability of the antimony and tungsten supply chain. The committee encourages
the Department of Defense to ensure that the domestic source of antimony and
tungsten supply chains are not limited to a single source.

"Therefore, the committee directs the Assistant Secretary of Defense for
Industrial Base Policy to brief the Committees on Armed Services of the Senate
and the House of Representatives, not later than March 31, 2025, on: (1) The
ongoing efforts to cultivate a diverse supply chain for antimony and tungsten,
to include the Manufacturing Capability Expansion and Investment (MCEIP)
office's investment efforts; (2) Any updated concerns regarding the supply
chain for antimony and tungsten, to include efforts to develop more than one
domestic or allied sources within the supply chain; (3) Ongoing interagency
challenges with permitting or regulatory hurdles for MCEIP's investments; and
(4) Any other matters the Secretary deems appropriate."

Oliver Friesen, CEO of Guardian Metal, commented:

"The Report extract above further demonstrates the importance of developing
sources of tungsten in the USA.

"We believe Guardian Metal's 100% owned Pilot Mountain project in Nevada, USA,
can play a significant part in the tungsten supply chain for the USA and this
Report further enhances our confidence in the project, its importance to
national security, and our decision to apply considerable resources to its
accelerated development.

"The Guardian Metal team are undertaking multiple work streams in respect of
Pilot Mountain and will update the market shortly in a number of key areas of
work."

 

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

 Guardian 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

Guardian 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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