REG - Guardian Metal Rsrc. - Significant Geophysical Campaign Results

Guardian Metal ResourcesAnnouncement

19/08/2024 12:15

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RNS Number : 9606A  Guardian Metal Resources PLC  19 August 2024

19 August 2024

Guardian Metal Resources plc

('Guardian Metal' or the 'Company')

Significant Geophysical Campaign Results

Magnetic and IP Data Confirm Porphyry Potential at Garfield and Pilot Mountain

Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF), a strategic development
and mineral exploration company focused in Nevada, USA, is pleased to announce
results from the ground magnetic and high-resolution induced polarisation
("IP") surveys recently completed at the Company's 100% owned Pilot Mountain
and Garfield Projects (collectively the "Projects") located within the
prolific Walker Lane Mineral Belt in Nevada, USA.

Background

This update covers the findings from magnetic and IP geophysical surveys which
were undertaken in June and July following positive results from previous
geophysical surveys and inversion modelling reported in May 2024(1,2,3), as
well as from a geological field work programme completed in July by Dr.
Lawrence Carter (an independent third party specialist in porphyry mineral
deposits), which highlighted the potential for undiscovered porphyry and
skarn-style mineralisation at both Projects.

HIGHLIGHTS:

Pilot Mountain

§ Significant magnetic anomaly measuring approximately 1 km x 1 km has been
delineated at the Porphyry West Target which remains open to the west and
south (Fig. 1).

 

§ Ground magnetic survey grid was extended east of Porphyry South and the
anomaly now measures circa 1.2 km by 0.5 km and remains open to the west. The
target footprint size increases further to 1.5 km by 1.2 km when factoring in
porphyry-style alteration and mineralisation mapped at surface by Dr. Carter,
which extends to both the south and west (Fig. 1).

Garfield

§ Three dimensional ("3D") inversion modelling of magnetic data highlights
two large deep seated intrusive/magnetic bodies at the High-Grade and Power
Line Zones, these have a vertical extent of over 800 m and appear to continue
below the depth of investigation of the ground magnetic survey.

 

§ IP results highlight multiple chargeability and resistivity anomalies
adjacent to and coincident with the magnetic inversion shells indicative of
porphyry and skarn-type mineralisation at the High-Grade and Power Line Zones
(Fig. 3).

Oliver Friesen, CEO of Guardian Metal, commented:

"Following the completion of Dr. Carter's porphyry-focused field assignment
and the identification of extensive at surface porphyry-style alteration and
mineralisation not previously identified at both Projects, we moved quickly to
launch the Company's largest ever geophysical campaign. The magnetic and
chargeability/resistivity anomalies now identified demonstrate that the
at-surface mapped porphyry zones appear to extend and, in some instances,
expand considerably at depth.

"For both Pilot Mountain and Garfield the number and scale of significant
porphyry targets is increasing materially, highlighting the potential for new
discoveries at both Projects. We are now finalising all planned drill hole
locations to test the new porphyry targets at Pilot Mountain and at Garfield
notice level permit applications/amendments will be submitted shortly.

"Following the Company's recent £2.15m strategic financing in the US, we have
an extremely strong working capital position with over £4m available, to
enable a significant investment in accelerated drilling of these potentially
very high impact targets."

FURTHER INFORMATION

Work completed as part of this campaign included:

Garfield

·    High-resolution 3D IP surveys over both the High-Grade and Power Line
Zones.

·    Ground magnetics covering the recently staked eastern extension zone.

Pilot Mountain

·    Ground magnetics to the east and south of the Porphyry South Target,
as well as over the Porphyry West Target.

·    Following up on the success of the magnetic survey over Porphyry
West, a single north-south oriented IP line was completed covering the
Porphyry West Target.

Pilot Mountain Findings

Porphyry West

·    Significant magnetic high anomaly measuring approximately 1 km x 1 km
has been outlined at the Porphyry West Target (underlying the Gunmetal &
Garnet skarn-type zones).

 

·    The anomaly remains open to the west and south and considering there
are no known magnetic minerals associated with Gunmetal or Garnet, the
findings are considered significant and point to a potential covered porphyry
target for further exploration.

 

·    Based on recently completed field visit by the Company's porphyry
specialist, Dr. Carter, the magnetic high anomaly outlines the footprint of a
likely sub-cropping quartz monzonite pluton (Fig. 1) where potassic style
porphyry alteration and mineralisation were identified at surface.

 

·    A single 2 km long IP line was completed across Porphyry West which
successfully identified chargeable and resistive features suggestive of
sub-cropping porphyry-style mineralisation (Fig. 2). In addition, a very
chargeable (>12 ms) anomaly was located near the northern edge of the
survey which remains wide open to the north.

Porphyry South

·    A ground magnetic survey was extended east of Porphyry South and the
magnetic high anomaly now measures circa 1.2 km by 0.5 km and remains open to
the west. This anomaly associated with Porphyry South further delineates the
mineralised quartz monzonite porphyry intrusion confirmed by drill hole
PM24-02 (Fig. 1).

 

·    Field mapping by Dr. Carter, combined with analysis of hyperspectral
ASTER remote sensing data, confirms that at surface porphyry style alteration
and mineralisation extend both south and west of the Porphyry South magnetic
high anomaly for at least 500 m, increasing the known surface footprint of the
target to at least 1.5 km by 1.2 km. Newly staked claims fully cover this
extension (Fig. 1).

 

·    Geophysical findings integrated with the detailed geology has
confirmed numerous porphyry drill targets across Pilot Mountain. Drill site
locations have now been finalised and are included in a notice permit
amendment that will be submitted in the coming days.

Garfield Findings

·    Previously completed magnetic surveys over the High-Grade and
Power-Line Zones identified 0.75 km x 0.75 km and 0.7 km x 0.5 km magnetic
high anomalies believed to be associated with buried porphyry intrusions at
depth. These anomalies are coincident with strong copper-mineralisation at
surface.

 

·    3D inversions of the magnetic data show two large deep seated
intrusive/magnetic bodies. The anomalies at both the High-Grade and Power Line
Zones extend for at least 800 m vertically and remain open below the depth of
investigation of the ground magnetic survey.

 

·    Follow up high-resolution 3D IP surveys successfully identified
several sub-cropping anomalies at the margins of these intrusions, which
correlate to copper-magnetite skarn mineralisation at surface, at the
contacts between limestones and the granitic intrusions.

 

·    The Company is finalising planned drillhole locations and will submit
a notice level permit application to the local Bureau of Land Management
("BLM") thereafter.

Media

Figure 1: Map of Pilot Mountain showing new ground magnetic survey and
Porphyry South and Porphyry West targets. IP survey (dashed line) shown in
Figure 2.

Figure 2: Pilot Mountain IP survey results. Section location shown in Figure
1. Brief summary interpretations annotated.

 

Figure 3: 3D view of Garfield, showing magnetic anomalies in yellow,
resitivive zones in blue and chargeable zones in green.

 

 

References

(1)https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-porphyry-target-confirmed/16448744

(2)https://www.londonstockexchange.com/news-article/GMET/pilot-mountain-update-re-porphyry-potential/16457702

(3)https://www.londonstockexchange.com/news-article/GMET/garfield-inversions-confirm-porphyry-potential/16470264

 

COMPETENT PERSON STATEMENT

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

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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