REG - Metals One PLC - Additional Claims Staked at Swales Gold Property

Metals OneAnnouncement

20/05/2025 07:15

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RNS Number : 3749J  Metals One PLC  20 May 2025

20 May 2025

 

 

Metals One Plc

("Metals One" or the "Company")

 

Additional Claims Staked at Swales Gold Property, Nevada, USA

 

Expanded landholding enhances exposure to favourable geology within Nevada's
prolific Carlin Trend

Further to the announcement on 14 May 2025 regarding the conditional
acquisition of the Swales Gold Property (the "Project") in Nevada, USA, Metals
One Plc (AIM: MET1), a minerals exploration and development company, is
pleased to announce the formal staking of an additional 99 unpatented mining
claims contiguous with the Project located in the prolific Carlin Trend,
proximal to some of the largest gold mines in Nevada.

Highlights:

●     Strategic Expansion: Formal staking of 99 additional mining claims
(approximately 1,980 acres), significantly enlarging the Project footprint to
approximately 2,780 acres within the world-renowned Carlin Trend with no
additional lease payment

 

●     Favourable Geological Setting: Newly staked claims increase
exposure to geology at Swales known to contain the gold deposits at Nevada
Gold Mines' nearby open pits and underground workings

 

●     Comprehensive Exploration Programme: Phase 1 exploration programme
to be expanded to encompass detailed geological mapping, extensive surface
sampling, historical workings re-evaluation, and initial geophysical surveys
across the enlarged Project area

Geological Setting

The Swales Gold Property is located within the Carlin Trend, one of the
richest mining districts in the world, and home to some of the largest gold
mines in the U.S. Several factors demonstrate the exceptional potential of
this relatively unexplored Project for new discoveries of significant
mineralisation on several exploration targets. Geologically, the Project is
underlain by the upper plate of the Roberts Mountains thrust with windows of
the lower plate - the ideal host rocks for a Carlin type gold deposit -
similar to that encountered at Nevada Gold Mines' Carlin Complex. Small gold
anomalies occur in the upper plate rocks at Swales Mountain. This suggests the
possibility of more extensive deposits in the lower Roberts Mountains thrust
where it lies concealed by gravels or in the broken rock within the upper
Roberts Mountains thrust, potentially geologically similar to that encountered
at the Carlin Complex. The newly staked claims contain numerous historical
workings consisting of small underground workings, mine dumps and prospect
pits that dig along structures.

Expanded Phase 1 Exploration Programme

In light of the newly staked claims, subject to completion of the conditional
acquisition of the Project ("Conditional Acquisition"), Metals One expects to
expand its Phase 1 exploration programme at the Swales Gold Property. This
enhanced programme is expected to include comprehensive geological mapping and
surface sampling covering the newly added claims, aimed at rapidly identifying
prospective targets. The initial programme also includes relocating and
reassessing historical mine workings and incorporating preliminary geophysical
surveys designed to better delineate exploration targets across the
substantially increased project area.

Craig Moulton, Chairman of Metals One, commented:

"The formal staking of these additional 99 claims underscores our strategic
commitment to rapidly advancing the Swales Gold Property. This expanded claim
area considerably increases exposure to the highly prospective geological
setting within Nevada's prolific Carlin Trend which includes the Carlin
Complex, the largest gold-producing complex in the world. We are excited by
the enhanced exploration potential at the Project, particularly considering
the strong gold price, and are working diligently to conclude the Conditional
Acquisition and integrate the new claims into an expanded Phase 1 programme."

As announced, Metals One has been granted a period of exclusivity for three
months to conduct the due diligence and to decide whether to proceed with the
Conditional Acquisition. Further information regarding the Conditional
Acquisition can be found in the 14 May 2025 announcement
(https://otp.tools.investis.com/clients/uk/metals_one_plc/rns/regulatory-story.aspx?cid=2778&newsid=1943575)
.

Figure 1: Illustrative regional map showing Project in relation to nearby gold
mines

 

 

Enquiries:

 

 Metals One Plc                                                       via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                               +44 (0)20 7390 0234

 Craig Moulton, Chairman

 Beaumont Cornish Limited (Nominated Adviser)                         +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com)

 SI Capital Limited (Joint Broker)                                    +44 (0)14 8341 3500

 Nick Emerson

 Capital Plus Partners Limited (Joint Broker)                         +44 (0)20 3821 6169

 Jonathan Critchley

 https://www.capplus.co.uk/ (https://www.capplus.co.uk/)

 Vigo Consulting (UK Investor Relations)                              +44 (0)20 7390 0234

 Ben Simons / Kendall Hill / Anna Stacey

 metalsone@vigoconsulting.com (mailto:metalsone@vigoconsulting.com)

 Fairfax Partners Inc (North America Investor Relations)              +1 604 366 6277

 connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

 

About Metals One

 

The race for critical minerals is on. Metals One is pursuing a critical
minerals exploration and M&A strategy, underpinned by the Western World's
urgent need for reliably and responsibly sourced raw materials such as copper,
nickel, cobalt, zinc, uranium and vanadium - all of which are vital to the
clean energy transition.

 

Our Northern Europe portfolio comprises copper, nickel, cobalt and zinc
projects in Finland and Norway, including a 57.1 Mt nickel-copper-cobalt-zinc
Inferred Resource adjacent to one of Europe's largest nickel producers, aiming
to help meet Europe's demand for strategic minerals sourced directly from
within the continent.

 

Our North America portfolio comprises uranium and vanadium exploration
projects in prolific and historical U.S. uranium mining regions, targeting
critical minerals essential for U.S. clean energy generation, grid storage,
and energy security.

 

The potential acquisition of gold mining claims within the prolific Carlin
Gold Trend in Nevada, USA, if completed, would mark our entry into the gold
exploration sector and diversification of our portfolio of critical minerals
assets.

 

Metals One's shares are listed on the London Stock Exchange's AIM Market
(MET1).

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
https://metals-one.com (https://metals-one.com)

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

 

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