REG - Guardian Metal Rsrc. - Pilot Mountain: Industrial Garnet Results

Guardian Metal ResourcesAnnouncement

13/01/2025 07:00

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RNS Number : 0141T  Guardian Metal Resources PLC  13 January 2025

13 January 2025

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Pilot Mountain: Significant Industrial Garnet Results

Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF), a strategic mineral
exploration and development company focused on tungsten in Nevada, USA, is
pleased to announce the initial results of the industrial garnet processing
study at the Company's 100% owned flagship Pilot Mountain Project ("Pilot
Mountain" or the "Project") located within the prolific Walker Lake Mineral
Belt in Nevada, USA.

As part of multiple project development steps that are currently progressing
in parallel, the metallurgical processing characterisation study on a
composite bulk sample of industrial garnet has been completed by SGS Canada
Inc. at its laboratory in Ontario, Canada. The 300kg bulk sample consisted of
approximately 118m of half-core samples taken from six historical drillholes.

Following the announcements on 8 February 2024(1), which first introduced the
garnet potential at Pilot Mountain, and 9 July 2024(2), which marked the
commencement of the garnet metallurgical programme, the processing
characterisation results are outlined below.

Garnet Analysis Highlights:

 

§ Initial processing characterisation results based on a 100kg split of the
300kg composite sample returned combined size fractions comprising 58.3%
garnet and 0.37% scheelite (CaW0(4)) by mass. This result far exceeds the
Company's initial expectations.

 

§ Given the current Mineral Resource estimate ("MRE") tonnage of 12.53Mt and
assuming a homogeneous garnet distribution across the Project, the
characterisation results offer strong potential for a significant garnet
resource to be established at Pilot Mountain.

 

§ Successful garnet liberation was shown to be 58.5% by mass at the
relatively coarse 425 µm grind size highlighting the possibility of the
following downstream cost savings:

o Reduced comminution (grinding) costs;

o Savings related to reduced power requirements and reagents in flotation; and

o Smaller tailings dam requirements.

§ Garnets are relatively heavy, with a higher specific gravity compared to
other silicates and carbonates, with the study showing potential for removal
of garnets (along with sulphides and scheelite) via gravity separation,
followed by magnetic separation to then separate garnet from scheelite.

 

§ Historical studies report that the dominant form of industrial garnet at
Pilot Mountain is the mineral species andradite with a lesser proportion
reported as being the grossular garnet species (3,4). This will be confirmed
by further characterisation studies.

 

§ Industrial garnet imported into the USA in 2023 traded at an average price
of US$190/tonne with US domestic garnet trading at a premium price of
US$220/tonne. Over the last 2 years, the USA imported >65% of its garnet
requirements for industrial use.(5)

 

§ Given the significant proportion of garnet identified in the sample and the
very good liberation noted for scheelite and garnet at a relatively coarse
grind size, the Company has instructed SGS to immediately continue gravity and
magnetic separation tests of the remainder of the bulk sample material.

 

§ Marketing and further characterisation studies have been actioned by the
Company's technical and marketing team which will aid in the determination of
the suitability of Pilot Mountain garnets (and potential pricing) for various
industrial applications.

 

Oliver Friesen, CEO of Guardian Metal, commented:

"We have been eagerly awaiting the results from the garnet processing
characterisation studies and are extremely pleased with the data presented
thus far from our metallurgical partners. While tungsten is without a doubt
the main commodity of interest at Pilot Mountain, in a production scenario all
potential revenue generating, as well as cost saving, opportunities need to be
closely evaluated. Based on the above data it appears that the garnet
opportunity could be material to the Project going forward.

"We are working closely with our technical and marketing team to now answer
the next set of questions presented following the very successful
characterisation and liberation results presented today."

 

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.(5) 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.(5) The global abrasives market was valued at US$35.5B in 2022 and
was projected to grow at a compound annual growth rate  of 4.5% from 2024
-2030.(6)

 

References

1:
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)

 

2:
https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-garnet-update/16558041
(https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-garnet-update/16558041)

 

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

 

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

 

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

 

6:
https://www.marknteladvisors.com/research-library/global-abrasives-market.html

 

 

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.

 

 

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.

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

 Broker

 Damon Heath/Erik Woolgar

 

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