REG - Guardian Metal Rsrc. - Garfield–High Grade Assays & New Zone Discovered

Guardian Metal ResourcesAnnouncement

03/09/2024 07:00

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RNS Number : 6157C  Guardian Metal Resources PLC  03 September 2024

3 September 2024

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Garfield Update - High Grade Assays and New Zone Discovered

Overlimit Assay Testing Delivers Exceptional Results up to 15.56% CuEq(*)
(4.92% Cu, 83g/t Ag, 11.2g/t Au) at New 'Freeze Zone'

Guardian Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic development
and mineral exploration company focused on Nevada, USA, is pleased to announce
an exploration update at the Company's 100% owned Garfield project located
within the prolific Walker Lane Mineral Belt in Nevada, USA ("Garfield" or the
"Project").

BACKGROUND

This update follows on from the additional staking the Company completed at
Garfield and subsequently announced on 22 May 2024(1). Forty-four mineral
claims were staked covering an eastern extension zone where follow up
prospecting highlighted visible copper mineralisation. Rock sampling across
the new area (now named the 'Freeze Zone') was completed and eight rock
samples were collected and sent for assay testing, the results from which are
highlighted below.

HIGHLIGHTS

§ Prospecting across the Project's recently staked claims has returned
exceptional and consistent high-grade copper-gold-silver results from the
newly named 'Freeze Zone'.

 

§ These results include up to 15.56%* and 9.58% CuEq* with 7 of the 8 samples
returning >1.75% CuEq*.

 

§ The ground magnetic geophysics survey recently completed over the 'Freeze
Zone' highlights a buried magnetic anomaly proximal to the high-grade rock
sample results, pointing to the potential for the Freeze Zone to host a
mineralised porphyry system.

 

§ With this additional new porphyry target it is now postulated that multiple
mineralised porphyry centres may exist across the Project.

 

§ There are now four main named target zones including 'Power-Line',
'High-Grade', 'Pamlico' and now 'Freeze', with varying porphyry, skarn- and
epithermal affinity.

 

§ With this new data in hand the Company is finalising preferred drill target
locations and a notice level permit will be submitted to the local Bureau of
Land Management ("BLM") office shortly.

Oliver Friesen, CEO of Guardian Metal, commented:

"The 100% Guardian Metal-owned Garfield Project has delivered again with
ground magnetics demonstrating an additional magnetic anomaly in the newly
named 'Freeze Zone' and exceptionally high grade assay results associated with
that zone.

"In total we now have a greater than 6km x 3km mineralised footprint at
Garfield, with confirmation of porphyry and skarn as well as epithermal
mineralisation across the now four principal target zones. Given the dramatic
progress made with Garfield, the Company is quickly moving towards finalising
drill targets to drive this very exciting project forward.

"I am also pleased to confirm that the receipt of these assay results, the
rocks from which were originally submitted in May, signals the commencement of
assay results back from the laboratory following their typically busy summer
period, with a steady flow of results expected from here on in for the next
several months.

"With the laboratory assay backlog now easing, and drilling still ongoing, we
anticipate a very busy autumn and winter period for Guardian Metal, with
multiple technical as well as commercial updates across the business, and
notably at our flagship Pilot Mountain Project."

REFERENCES

1
https://www.londonstockexchange.com/news-article/GMET/garfield-further-copper-porphyry-targets-secured/16481693

*             Copper Equivalent ("CuEq") is calculated using a
copper price of US4.1542/lb, a gold price of US$2,497/Oz and a silver price of
US$28.38/Oz with recoveries assumed to be 100% as no metallurgical test data
is available.

 

FURTHER INFORMATION

Following the receipt of assay results from the 'Freeze Zone' the Company has
released complete maps including all rock sample results obtained for copper,
gold and silver across Garfield (see below).

The maps highlight the exceptional and consistent results achieved over a
distance of greater than 6km (east-west) and 3km (north-south) across the
'Power-Line', 'High-Grade', 'Pamlico' and 'Freeze' target zones.

The work completed to date highlights the potential for multiple mineralised
porphyry systems to exist across the Project's main target zones, locally with
associated skarn-type mineralisation as well as epithermal overprinting.

Notably, the recently discovered 'Pamlico' and 'Freeze' zones (in addition to
the 'Power-Line' and 'High-Grade' zones) are spatially associated with what
appear to be buried magnetic high geophysical anomalies, which is
characteristic of porphyry systems.

Complete gold-silver-copper assay results achieved at the 'Freeze Zone' are
outlined in Table 1 and point to a very exciting newly staked target area for
the Company:

Table 1: Freeze Zone Rock Sample Laboratory Assay Results

 Sample ID  Gold Assay (g/t)  Silver Assay (ppm)  Copper Assay (ppm)  CuEq** (%)
 OF-001     6.73              25                  34300               9.58
 OF-002     11.2(#)           83                  49200               15.56
 OF-003     0.498             25                  11750               1.86
 OF-004     0.817             16                  20300               2.91
 OF-005     1.52              65                  33600               5.34
 OF-006     0.272             24                  20500               2.53
 OF-007     0.586             19                  32500               3.95
 OF-008     0.018             1                   350                 0.06

 

Table notes: Rock sample assay results certificated by ALS USA Inc. using
methods ME-ICP61a, Au-AA23 and Au-GRA21. Results reported in  ppm = parts per
million. 1ppm Au equivalent to 1g/t Au.

** Gold assay using Au-GRA21 fire assay and gravimetric finish, due to over
limit (>10ppm Au) returned using method Au-AA23.

( )

MEDIA

 

Figure 1 - Garfield Project showing all copper rock results to date including
the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone is located
near the eastern edge of the Project.

 

Figure 2 - Garfield Project showing all gold rock results to date including
the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone is located
near the eastern edge of the Project.

 

 

Figure 3  - Garfield Project showing all silver rock results to date
including the 2014/2023/2024 sampling campaigns. The newly named Freeze Zone
is located near the eastern edge of the Project.

 

 

Figure 4  - Garfield Project showing all copper rock results to date
including the 2014/2023/2024 sampling campaigns. In the background are the
magnetic results from the recently completed

 

PROPERTY OWNERSHIP

Guardian Metal holds a 100% interest in the Garfield Project through its
wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net
Smelter Return Royalty ("NSR Royalty") Interest, of which 1% can be bought
back at any time for US$1,000,000, is payable to Sunrise Resources plc
(LON:SRES). The NSR Royalty covers the original Garfield Project claims as
well as a 1 mile radius outside of those claims which covers roughly half of
the current 'High-Grade Zone' footprint. The Pamlico and Freeze Zones are
entirely royalty free.

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and
approved by Mr Nick O'Reilly (MSc, DIC, QMR MIMMM, MAusIMM, FGS), who is a
qualified geologist and acts as the Competent Person under the AIM Rules -
Note for Mining and Oil & Gas Companies. Mr O'Reilly is a Principal
consultant working for Mining Analyst Consulting Ltd which has been retained
by Guardian Metal Resources plc to provide technical support.

 

 

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).

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
 First Equity Limited                         Tel: +44 20 7374 2212

 Broker

 Jason Robertson

 

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