REG - Guardian Metal Rsrc. - Garfield Project Exploration Update

Guardian Metal ResourcesAnnouncement

03/11/2025 07:45

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RNS Number : 8632F  Guardian Metal Resources PLC  03 November 2025

3 November 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Garfield Project - Precious Metal Exploration Update

Guardian Metal Resources plc (LON:GMET, OTCQB:GMTLF), a strategic mineral
exploration and development company focused on tungsten in Nevada, U.S., is
pleased to provide an update for the Company's Garfield gold-silver-copper
project ("Garfield" or the "Project") located in the Walker Lane Mineral Belt,
Nevada.

Guardian Metal's mission is to establish its co-flagship projects, Tempiute
and Pilot Mountain, as the cornerstone of U.S. tungsten supply, directly
supporting national efforts to reshore mined production. This is intended to
help the U.S. reduce reliance on foreign supply chains, strengthen economic
and defence security, while delivering long-term value for shareholders.

In parallel to advancing the tungsten projects, the Company has undertaken
early-stage exploration across its gold assets, by cost-effective means, to
further enhance shareholder value. With the strengthening gold market,
interest in Guardian Metal's Nevada-based precious metal projects, Garfield
and Golconda, has dramatically increased.

Recent surface sampling of epithermal veins across the Power Line zone has
revealed further zones of high-grade gold, silver and copper mineralisation.
The Company has also staked 42 additional Bureau of Land Management ("BLM")
lode mining claims over an expansive Freeze North zone which covers
hydrothermally altered rhyolites hosting numerous epithermal quartz-barite
veins, partly obscured by post-mineral volcanic cover. Furthermore, a recently
completed induced polarisation ("IP") geophysical survey focused on the Freeze
and Freeze East zones has identified compelling drill targets under alluvial
cover, located directly along strike from historic high-grade gold-silver
underground mine workings.

 

TECHNICAL HIGHLIGHTS

 •    Rock chip samples of quartz-barite epithermal veins from the Power Line zone
      have returned high-grade gold-silver-copper (Figure 1, 2, and Table 1).
      Highlight individual samples include LCGF42 which returned 18.3 g/t gold (Au)
      and 43.6 g/t silver (Ag); and LCGF66 which returned 14% copper (Cu) and 145g/t
      Ag.

 •    IP geophysical survey results from the Freeze zone have identified a
      chargeable feature beneath the historic high-grade underground mines (where
      previous sampling returned 61g/t, 11.2 g/t and 6.73 g/t Au). This chargeable
      feature extends for at least 500 m eastwards and represents a compelling drill
      target located under alluvial cover within the Freeze East zone (Figure 1
      & 3).

 •    Given the recent rise in the gold price, and the exciting epithermal gold
      opportunity that exists at Garfield, as well as the Carlin-type gold
      opportunity at the Company's Golconda project, plans are being advanced to
      unlock value from both assets for the benefit of Guardian Metal's
      shareholders.

 

Oliver Friesen, CEO of Guardian Metal, commented:

"We are very encouraged by the expanding scale of the epithermal system at the
Garfield Project following Dr. Carter's recent site visit. High-grade rock
chip assay results from the Power Line zone, combined with the mapping
completed, has revealed a much larger alteration footprint than previously
recognised. This work has led to the staking of the new Freeze North zone,
extending the trend to more than 4 km in strike, and to the definition of
compelling drill targets at the Freeze East and Freeze zones.

"While tungsten remains our core focus at Guardian Metal, recent results from
both Garfield and Golconda underscore the value of our diversified portfolio.
We will continue to advance, and assess, our Nevada gold assets in a
disciplined way, ensuring any future partnerships are structured to maximise
value for our shareholders. Together with our co-flagship tungsten assets,
Garfield and Golconda provide additional optionality and exposure to the
broader resurgence of U.S. mining."

 

FURTHER INFORMATION

The Company has retained Dr Lawrence Carter to review the potential for
high-grade precious metal epithermal mineralisation across the Garfield
project. Previously reported findings (announced  24 April 2025(1) and  3
June 2025(2)) include high grade gold-silver-copper-antimony (Au-Ag-Cu-Sb)
mineralisation in epithermal veins at the Pamlico zone (e.g. 47 g/t Au and
1.84% Sb), high grade Au-Ag-Cu mineralisation (e.g. 61 g/t Au) in the Freeze
zone as well as outcropping silica-adularia alteration in rhyolite and
volcanic breccias in the subsequently staked Freeze East zone.

Building on that success, Dr Carter has been further reappraising and sampling
epithermal-style mineralisation and alteration across the Project, resulting
in the Company staking the Freeze North zone. Based on the geological findings
to date including multiple high-grade rock chip sample assays, the Company
also recently completed two-dimensional induced polarisation (2DIP)
geophysical surveys across the Freeze and Freeze East zones which has led to
the identification of compelling drill targets. Geological findings and sample
assay results from the Power Line and Freeze North zones as well as the
preliminary results of the IP survey are reported below.

 

HIGH GRADE EPITHERMAL AU-AG-CU MINERALISATION IN THE POWER LINE ZONE

Outcropping epithermal quartz-barite veins and numerous historical mine
workings have now been mapped along a NE-SW trending structure extending for
at least 1.2 km. Rock chip samples were collected from various locations along
strike (Figure 1 & 2). Highlight sample assays include: 18.3 g/t Au &
43.6 g/t Ag; 145 g/t Ag & 14% Cu; 1.37g/t Au & 1.23% Cu; and  190 g/t
Ag (Table 1).

 

EXTENSIVE HYDROTHERMAL ALTERATION ACROSS THE NEWLY STAKED FREEZE NORTH ZONE

The Company has now staked an additional 42 BLM lode mining claims over the
Freeze North zone (Figure 1). Here, geological field mapping identified
extensive silicic and argillic hydrothermal alteration in rhyolites, which is
almost entirely covered by thin post mineral basaltic lava flows. This
alteration is suggestive of an epithermal system. Quartz-barite epithermal
veins occur across the area, along with historical mining activity. Rock chip
samples show the hydrothermally altered rhyolite is elevated in barium (Ba)
and arsenic (As) (e.g. 3x samples of various altered rhyolite outcrops which
returned 950 ppm, 2,060 ppm and 2,180 ppm Ba and 106 ppm, 99 ppm and 21 ppm
As), which suggests that the area represents the shallow part of a mineralised
system and has been subject to significant hydrothermal fluid flow.

 

CHARGABLE GEOPHYSICAL ANOMALIES FROM 2DIP IN THE "FREEZE" AND "FREEZE EAST"
ZONES

The Company recently completed a two-dimensional induced polarisation (2DIP)
geophysical survey, across two lines spaced 450 m apart in the Freeze and
Freeze East zones (Figure 1 & 3). In the Freeze zone, the 2DIP survey was
centred on a historically mined epithermal high-grade precious metal
mineralised E-W trending structure. Previously reported highlight grab samples
from these mine workings include: 61.0 g/t Au, 149 g/t Ag and 2.38% Cu; 11.2
g/t Au, 83.0 g/t Ag and 4.92% Cu;  11 g/t Au, 149 g/t Ag and 137 g/t Ag
(reported 3 September 2024(3) and 3 June 2025(2)).

In the Freeze East zone, the 2DIP survey covered an outcropping mound of
silica-adularia altered rhyolitic volcanic breccia which contains elevated
barium (e.g. rock chip samples containing 1,870 ppm, 2,130 ppm and 2,780 ppm
barium suggesting extensive hydrothermal fluid flow) which is obscured by
alluvial cover (Figure 1 & 3). In the 2DIP results, two subvertical
chargeable features are highlighted on either side of this silicified mound.
These are both under the alluvial cover, and are along strike from the
historical mine workings described above. The Company views both of these
chargeable features as compelling drill targets for sub-cropping high-grade
epithermal mineralisation.

 

ADVANCING THE PROJECT

The latest findings from across the further expanded Project area, together
with the results previously reported, provide hallmarks of a potentially
significant epithermal precious-metal mineralised system which is largely
obscured by post-mineral cover (1,2,3).  Key features observed in windows
through the post-mineral cover, consistent with world-class epithermal systems
include: outcropping silicic, argillic and silica-adularia alteration in
rhyolites and volcanic breccias; widespread outcropping barren
quartz-calcite-barite veins and opaline-chalcedonic quartz veins; elevated Ba
and As in hydrothermally altered rhyolites; numerous fault structures which
have been mineralised by epithermal fluids; outcropping hydrothermal breccias;
outcropping and previously mined very high grade Au-Ag-Cu-Sb epithermal veins;
resistive and chargeable features in IP surveys. These features are suggestive
that the shallow levels of a low- or intermediate-sulphidation epithermal
system is exposed across the Garfield project.

Based on interpretation to date, the narrow high-grade epithermal veins seen
at surface, either continue to depth and along fault structures, or grade into
broader zones of lower-grade stockwork mineralisation.

The wider Walker Lane Belt, in which Garfield is located, has numerous
analogous epithermal systems with ongoing economic and/or exploration success
including Fortitude Gold's Isabella Pearl mine (located 20 km to the north
west of the Project), Headwater Gold's Spring Peak/Lodestar projects, and the
significant past producing mines of Borealis (located 30 km to the south west
of Garfield) and Hecla's Aurora mine. The Company is therefore eager to see
value unlocked from Garfield to the benefit of Guardian Metal's shareholders.

Whilst drill targets are now confirmed by 2DIP in the Freeze and Freeze East
zones, further geophysical surveys would be valuable in the search for
potentially sub cropping mineralised structures in other areas across the
Project where hydrothermally altered rhyolites are partly covered by
post-mineral basalts, such as in the newly staked Freeze North zone as well as
in the Pamlico zone.

 

Table 1: Assay data for new rock chip samples collected from across the
Project

 Sample ID  Latitude (degrees)  Longitude (degrees)  Au, g/t  Ag, g/t  Cu, ppm  Pb, ppm
 LCGF40     38.53932            -118.45343           0.27     12.7     8000     16.5
 LCGF41     38.53930            -118.45341           0.02     2.28     4290     10.5
 LCGF42     38.53934            -118.45340           18.3     43.6     727      11300
 LCGF43     38.53900            -118.45332           0.01     0.52     1055     35.5
 LCGF44     38.53903            -118.45294           0.02     0.19     23.2     5.7
 LCGF45     38.53905            -118.45302           0.01     6.17     1430     3
 LCGF46     38.53904            -118.45301           0.61     1.03     9930     15.2
 LCGF47     38.53902            -118.45302           1.37     43.7     12300    10
 LCGF48     38.53762            -118.45333           0.12     190      5280     5380
 LCGF49     38.53763            -118.45333           0.02     8.09     509      9690
 LCGF50     38.53764            -118.45334           0.02     5.8      527      7080
 LCGF51     38.53764            -118.45335           0.03     8.63     2880     2660
 LCGF52     38.53748            -118.45310           0.01     1.11     651      256
 LCGF53     38.53781            -118.45366           0.01     3.62     1775     439
 LCGF54     38.53646            -118.45408           0.01     18.45    1285     1285
 LCGF55     38.53653            -118.45430           0.06     5.14     3820     2360
 LCGF56     38.53842            -118.45527           0.01     0.15     164.5    21.4
 LCGF57     38.53236            -118.45823           0.06     0.06     235      1.6
 LCGF58     38.53249            -118.45811           0.03     0.22     675      2.3
 LCGF59     38.53252            -118.45817           0.11     1.84     9120     4.9
 LCGF60     38.53257            -118.45821           0.04     0.84     6700     4.6
 LCGF61     38.53237            -118.45954           0.01     0.23     1710     5
 LCGF63     38.53226            -118.46000           0.01     0.13     46.4     1.5
 LCGF64     38.53197            -118.46031           0.02     0.56     541      23.3
 LCGF65     38.53059            -118.46236           0.32     1.1      8320     3.9
 LCGF66     38.53056            -118.46240           2.68     145      140000   5
 LCGF67     38.53121            -118.40148           0.01     0.08     114      0.7
 LCGF68     38.53121            -118.40148           0.03     0.24     237      4.9
 LCGF69     38.52929            -118.39816           0.01     0.01     72       0
 LCGF73     38.54178            -118.40042           0.07     0.24     57.6     3
 LCGF74     38.54426            -118.40369           0.01     0.08     33.7     36.6
 LCGF75     38.54491            -118.40766           0.02     0.21     65.4     15
 LCGF76     38.54500            -118.40820           0.17     0.19     47       77.4

 

Table Note: Assayed by ALS USA Inc using analytical methods ME-MS61 and
Au-AA25, with over limits by Ag-OG62, Cu-OG62 and Pb-OG62.

 

MEDIA

Figure 1: Map of the Garfield project area. Rock sample gold (Au) and silver
(Ag) grades are plotted and highlight samples labelled. 2DIP geophysical
survey lines in the Freeze and Freeze East zones shown.

 

Figure 2: Example of epithermal quartz vein material sampled from the Power
Line zone. This sample assayed at 18.3 g/t Au, 43.6 g/t Ag and 11,300 ppm Pb
(Table 1).

 

 

Figure 3: 3D views and 2D sections of the preliminary 2DIP survey results. Key
features labelled as follows: A, Chargeable feature associated with
historically mined high-grade epithermal mineralisation; B, outcropping mound
of silica-adularia altered rhyolite breccia; C & D, Chargeable features
along strike of the high-grade epithermal veins but beneath post mineral
cover.

PROPERTY OWNERSHIP

Guardian Metal holds a 100% interest in the Garfield Project through its
wholly-owned Nevada operating company, Golden Metal Resources LLC. It is
subject to a 2% Net Smelter Return Royalty ("NSR Royalty") interest, of which
1% can be bought back at any time for US$1,000,000. 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, Freeze, Freeze North and Freeze East zones are royalty free.

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and
approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, 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.

 

References

1:            Company announcement, Garfield- High-Grade
Gold-Silver-Antimony and New Claims Staked across Epithermal System,  dated
24 April 2025:

(https://www.londonstockexchange.com/news-article/GMET/garfield-project-exploration-update/17003867
(https://www.londonstockexchange.com/news-article/GMET/garfield-project-exploration-update/17003867)
)

2:            Company announcement, Garfield-Very High-Grade
Gold-Silver-Copper Assay Results,  dated 3 June 2025:

(https://www.londonstockexchange.com/news-article/GMET/garfield-project-exploration-update/17067301
(https://www.londonstockexchange.com/news-article/GMET/garfield-project-exploration-update/17067301)
)

3:            Company announcement, Garfield-High Grade Assays
& New Zone Discovered,  dated 3 September 2024:

(https://www.londonstockexchange.com/news-article/GMET/garfield-high-grade-assays-new-zone-discovered/16646187
(https://www.londonstockexchange.com/news-article/GMET/garfield-high-grade-assays-new-zone-discovered/16646187)
)

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.guardianmetalresources.com) or contact the following:

 

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

 Oliver Friesen (CEO)

 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Sandy Jamieson/Jo Turner/Louise O'Driscoll

 Tamesis Partners LLP (Lead Broker)                Tel: +44 (0) 20 3882 2868

 Charlie Bendon/ Richard Greenfield

 Tavistock (Financial PR)                          Tel: +44 (0) 7920 3150/ +44 (0) 7788 554035

 Emily Moss/Josephine Clerkin                      guardianmetal@tavistock.co.uk

 

 

About Guardian Metal Resources

Guardian Metal Resources PLC (LON: GMET, OTCQX: GMTLF) is a strategic mineral
exploration and development company driving the revival of U.S. tungsten
production and strengthening America's independence in defense metals. The
Company is advancing two co-flagship tungsten projects, Pilot Mountain, one of
the largest undeveloped tungsten deposits in the U.S. and Tempiute, formerly
America's largest producing tungsten operation, both located in Nevada, one of
the top-rated mining jurisdictions in the U.S.

In July 2025, Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of
Guardian Metal, was awarded US$6.2M from the U.S. Department of War under
Title III of the Defense Production Act of 1950 to support the rapid
advancement and pre-feasibility study for the Pilot Mountain tungsten
Project.  Guardian Metal Resources joined both the Defense Industrial Base
Consortium and the Cornerstone Program. The Company has also announced plans
to pursue a U.S. listing in the first half of 2026.

Tungsten is a strategic mineral essential to the defense, energy transition,
technology, and industrial sectors. Against the backdrop of evolving
geopolitical dynamics and Chinese export restrictions on tungsten, Guardian is
positioned to play the leading role in rebuilding a reliable domestic supply
chain for this critical metal.

To learn more, please visit www.guardianmetalresources.com.

 

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