REG - Guardian Metal Rsrc. - Engineering Review-Significant Tempiute Potential

Guardian Metal ResourcesAnnouncement

17/03/2025 07:15

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RNS Number : 8664A  Guardian Metal Resources PLC  17 March 2025

17 March 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Engineering Site Assessment Highlights Significant Tempiute Potential

Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF), a strategic development
and mineral exploration company focused in Nevada, USA, is pleased to announce
that the Company's geological and engineering team have now completed a
positive site assessment of the Tempiute Tungsten Project ("Tempiute" or the
"Project"). Tempiute, also formerly known as the Emerson Tungsten Mine, is
located in south-central Nevada less than 250 miles southeast of the Company's
Pilot Mountain tungsten project.

The Company signed an option agreement to acquire 100% of Tempiute on 27
January 2025, the details and commercial terms which are covered in the below
RNS:

https://www.londonstockexchange.com/news-article/GMET/option-to-acquire-tempiute-tungsten-project-signed/16869717
(https://www.londonstockexchange.com/news-article/GMET/option-to-acquire-tempiute-tungsten-project-signed/16869717)

Highlights:

§ Given the strength and size of the mineralising system observed, the
significant permitting advantages associated with patented mining claims, and
the existence of robust in-place usable infrastructure, Guardian Metal has
designated Tempiute as a co-flagship asset and as such it will be advanced and
derisked towards production in parallel with Pilot Mountain, Nevada.

 

§ The existing infrastructure, including but not limited to ore loading
facilities, mill & concentrate buildings, foundations, load out bays, and
water pipes & pumps, were evaluated and are considered usable for
potential future operations.

 

§ A summary appraisal for 'internal planning and mortgage financing purposes'
of the in-place infrastructure at Tempiute was completed in 2003 on behalf of
the previous owners. This appraisal determined the infrastructure to have an
indicated market value of US $17,890,000*. A detailed list of the in-place
infrastructure evaluated by Guardian Metal's engineering team is further
detailed below.

 

§ Multiple workstreams focused on advancing Tempiute are being initiated.
Details of these will be disclosed to the market as soon it is appropriate.

 

§ Detailed grid sampling of the Project's tailings facility has been
commissioned and will commence before the end of the month with a view to
determine the suitability of the material for reprocessing.

 

*This appraisal is considered historical in nature but provides a useful
reference point for the Company as it progresses Project exploration and
development.

 

Oliver Friesen, CEO of Guardian Metal, commented:

 

"The results of our engineering site assessment covering Tempiute has further
demonstrated the significance of this asset. With robust existing
infrastructure in place, the location lying within patented mining claims, and
a sizeable and well-endowed mineralising system, we believe this Project has
the potential to be a game-changer for Guardian Metal.

 

"The ability to leverage existing infrastructure, including mill facilities
and an operating 3,000 KW substation, provides a substantial advantage,
reducing both capital costs and permitting/build out timelines. Our team is
already executing multiple workstreams to rapidly advance the Project and we
are confident in its ability to deliver value for our shareholders. We look
forward to keeping our shareholders updated as we progress toward unlocking
its full potential."

 

Further Infrastructure Details:

The significant in-place infrastructure that is currently located within the
Tempiute Project that could be utilised for future development includes:

 

1.   A large-scale clean metal mill building with concrete foundations,
previously used for milling.

2.   An adjoining high ceiling metal building, previously for flotation,
cleaned for the potential installation of power, water, and control systems
for flotation cells on the cement plinths.

3.   Course ore loading wall and infrastructure with concrete work for the
potential re-installing of conveyors to load ore into the mill building.

4.   A 3,000 Kilowatt electric substation, currently working and energised,
which provides power to the nearby town of Rachel, Nevada.

5.   A mine office building that can be re-established.

6.   Roads that are well maintained and in good condition for access to the
site along the 8,200 feet (2,500m) of the strike of the known deposit.

7.   A water pipeline from the valley reported to connect to the mine.

8.   Two water wells that were the original water source for operations in
the 1980's, on nearby property.

 

Further Geological Details:

 

Recent data compilation and site visits by the Company have confirmed the
scale and strength of the Tempiute Tungsten mineralising system. The deposit
has been mined for 60 years with reported 200,000 feet (60,000m) of
underground workings which span 1,200 feet (360m vertically).

In addition to the skarn type mineralisation that has been mined, mineralised
breccia pipe and intrusive copper porphyry type systems will be subject to
exploration by the Company.

 

Given the scale of the mineralising system and the ready infrastructure on
site, the modest establishment of near surface open-pittable resources will be
one of the key focusses going forward. Potential co-products of copper, zinc,
silver as well as gallium and germanium are also all being investigated. The
potential for these co-products was being worked on in the 1980's when the
mine closed at a time of low tungsten prices.

 

The intrusion that is the cause of the tungsten mineralisation may have
potential for classic porphyry copper mineralisation. Heavy fracturing and
copper mineralisation was observed by the Company during the site visit and
porphyry potential is referenced in multiple historical reports but was
ultimately not systematically assessed. An evaluation of the porphyry
potential with a deposit type specialist is in progress, with site visits to
be conducted in short order.

 

 

Summary:

 

Guardian Metal remains committed to its mission of leading the revival of
domestic tungsten production in the United States. With secure sources of
critical minerals now a national priority, we are proud to hold what we
believe to be the largest tungsten resource in the country at our Pilot
Mountain Project in Nevada. In addition, we are advancing efforts to restore
production at Tempiute, Nevada-historically one of the largest and
longest-producing tungsten sources in the United States, as China the world's
leading tungsten producer, imposes export restrictions and tariffs, market
conditions are tightening. We see the Pilot Mountain and Tempiute projects
progressing in tandem to help achieve our mission as quickly as possible.

 

Media

Figure 1: Nevada location map showing position of the Company's 100% owned
Pilot Mountain Project and Tempiute.

 

Figure 2: Company engineering team standing near the mill building which is
included in the 88,400 square feet of gross building area across the Project.

 

Figure 3: 3,000 Kilowatt electric substation located onsite which provides
power to the nearby town of Rachel, Nevada.

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018). The Directors of the Company are
responsible for the contents of this announcement.

 

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
timing and granting of regulatory and other third party consents and
approvals, uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of unexpected
events.

Actual results achieved may vary from the information provided herein as a
result of numerous known and unknown risks and uncertainties and other
factors.

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

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

 Oliver Friesen (CEO)
 Cairn Financial Advisers LLP                 Tel: +44 20 7213 0880

 Nominated Adviser

 Sandy Jamieson/Jo Turner/Louise O'Driscoll
 Shard Capital Partners LLP                   Tel: +44 (0) 20 7186 9000

 Lead Broker

 Damon Heath/Erik Woolgar

 

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