REG - Guardian Metal Rsrc. - Pilot Mountain - Garnet Update

Guardian Metal ResourcesAnnouncement

09/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240709:nRSI5865Va&default-theme=true

RNS Number : 5865V  Guardian Metal Resources PLC  09 July 2024

09 July 2024

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Pilot Mountain - Garnet 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 announce an update regarding its 100% owned flagship Pilot
Mountain Project ("Pilot Mountain" or the "Project") located within the Walker
Lake Mineral Belt in Nevada, USA.

On 8 February 2024, the Company highlighted the significant garnet potential
that exists at Pilot Mountain. This announcement may be viewed through the
link below:

https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-significant-garnet-potential/16323128
(https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-significant-garnet-potential/16323128)

Highlights:

§ As part of multiple project development steps that are currently
progressing in parallel, garnet bulk sampling will be commissioned imminently
with a circa 300kg composite sample to be shipped to a highly respected
laboratory for detailed metallurgical testing within the next few days. The
bulk sample consists of approximately 118m of half-core samples taken from six
different historical drillholes.

 

§ Industrial garnet is demonstrated to comprise an average of 40% of many
mineralised intervals across the known deposit areas (Desert Scheelite &
Garnet). Considering the size of the mineral resource at present, the Company
is of the belief that the industrial garnet component, subject to completion
of the metallurgical study, could be material to overall Project
economics.(1,2)

 

§ The results will be incorporated into the pre-feasibility study ("PFS")
work that is currently being progressed by the Company in association with its
engaged engineers and environmental specialists. A detailed report is expected
to be in hand from the engaged engineers shortly and next important steps
required for the planned PFS will commence shortly thereafter.

 

§ The Company has made significant drilling progress since its last update on
25 June 2024 and a further drilling update is expected to be released to the
market shortly. Geophysics results from the Company's largest ever geophysical
campaign are expected imminently and will be released to the market as soon as
possible.

Oliver Friesen, CEO of Guardian Metal, commented:

"We are now in the midst of what is without a doubt the busiest period in the
Company's history. There are several exploration and development workstreams
that are all in progress and moving forward together.

"Since the garnet potential was first investigated by the Company, and
determined to be potentially significant, it has been high on our list to get
the next steps in motion. The exploration crews who are doing a fantastic job
in the field, alongside their daily duties associated with ongoing drilling,
were able to prepare the bulk sample that will be shipped shortly for
metallurgical testing. This work is being supervised by our retained
metallurgical specialist and we are very pleased to have him work alongside us
to oversee this important study.

"These results will form the basis of important next steps which include
determining the recoverability of the various garnet species, how they fit
into the current flow sheet and following that their effect on overall project
economics.

"With lots of workstreams moving forward at present, I am very much looking
forward to releasing further updates to the market in short order."

Media:

Figure 1: ~300kg bulk sample consisting of approximately 118m of half-core
samples prepared for shipment to SGS Laboratory for advanced metallurgical
testing.

 

Further Information:

Industrial garnet is used in a wide array of industries including abrasive
blasting, water-filtration media, water-jet-assisted cutting, in abrasive
powders, nonslip coatings and sandpaper.(3) The industries that are known
consumers of industrial garnet include aircraft and motor vehicle
manufacturers, ceramics and glass producers, electronic component
manufacturers, filtration plants, glass polishing, petroleum industry,
shipbuilders, textile stonewashing as well as wood-furniture finishing
operations.(3) The global abrasives market was valued at USD 35.5B in 2022
and is projected to grow at a CAGR of 4.5% from 2024 -2030.(4)

 

References:

1             The Development of Separation Technology from the
Pilot Mountain Tungsten Project, Nevada, USA (2013). Zhang, J., Liu, Jianguo.,
Liang, D., Hong, Q.

2             Report on Laboratory Test on W03-Cu-Zn Ore Samples
from the Pilot Mountain Tungsten Project, USA (2019).

 

3             United States Geological Survey (USGS), Mineral
Commodity Summaries 2024.

 

4             https://www.marknteladvisors.com/research-library/global-abrasives-market.html

 

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                 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

 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLUWARRSKUBRUR