Pilot Mountain - Significant Drilling Results
03 March 2025
Guardian Metal Resources plc
('Guardian Metal' or the 'Company')
Pilot Mountain - Significant Drilling Results
Desert Scheelite: Further Very High-Grade Tungsten & Silver Results
Guardian Metal Resources plc (LON:GMET, OTCQX:GMTLF), a strategic mineral exploration and development company focused in Nevada, USA, is pleased to announce further drillhole assay results from the Company's ongoing drilling campaign at its 100% owned Pilot Mountain tungsten Project ("Pilot Mountain" or the "Project") located in Nevada, USA.
Laboratory assay results from drill core samples have been received from the next batch of drillholes at the Desert Scheelite zone covering PM24-029 to PM24-039 (Table 1) with some further very high-grade tungsten and silver results being intersected (Table 2). To date, 51 drillholes have been completed.
The final planned drillholes into Desert Scheelite will be completed in the following weeks following which attention will be turned to geotechnical drilling to support the planned pre-feasibility study. The Company is also finalising the first ever geological model for the Gunmetal zone with drillholes to planned thereafter. Guardian has also received a Notice Level permit which allows for the excavation of 20 drill pads at the Project's 'Garnet' tungsten-copper-silver-zinc zone. Finally, preliminary drill planning is underway to target the newly discovered mineralised copper breccia zone within the Porphyry South target area located immediately south of Desert Scheelite.
Oliver Friesen, CEO of Guardian Metal, commented:
"As the need for a domestic U.S. mined source of tungsten continues to accelerate, we are pleased to able to produce another positive set of drilling results from the ongoing Pilot Mountain drilling campaign.
"Our Nevada based operating team is working hard to complete the final few Desert Scheelite drillholes, following the completion of which, they will commence work on the geotechnical drillholes to support the Project's pre-feasibility study. Work is also being progressed at the Project's Garnet and Gunmetal zones which host polymetallic tungsten-silver-copper-zinc mineralisation very similar to what is found at Desert Scheelite. We consider these as being low-hanging fruit targets given the historical widely-spaced drilling which uncovered significant intervals of skarn-style polymetallic mineralisation.
"We are also pleased to report that initial preparations are now underway for the Company's first ever boots on the ground work programme at Tempiute and we anticipate providing an update to the market covering more details in short order.
"As work progresses across our Nevada-based tungsten portfolio, the push to secure domestic supplies of critical and defence-related metals only strengthens the strategic positioning of Guardian Metal Resources within the U.S. and abroad."
Desert Scheelite Highlights:
§ Of significance within this particular batch of results is the mineralised widths (>0.10% WO3) encountered throughout several holes as well as the intersection of multiple broad mineralised intervals. These include mineralised 14.2m and 7.8m intervals in PM24-029, 19.4m and 27m intervals in PM24-031, 18.5m and 18.2m intervals in PM24-038 as well as multiple others throughout the holes reported herein.
§ Some of the most significant individual silver results from the 2024/2025 drilling programme were received from this batch of results including 434g/t (PM24-034), 345g/t (PM24-038), and two 355g/t Ag results from PM24-038.
§ Drillhole PM24-034 highlight downhole intersections:
o 27.1m @ 0.46% W03, 32g/t Ag, 3,278ppm Cu & 0.71% Zn from 20.7 - 47.8m (27.1m @ 0.72% WO3Eq* or 2.35% CuEq**); including
- 5.3m @ 1.08% W03, 130.5g/t Ag, 2,382ppm Cu & 0.32% Zn from 34.2 - 39.5 (5.3m @ 1.57% WO3Eq* or 5.15% CuEq**).
§ Drillhole PM24-038 highlight downhole intersection :
o 18.5m @ 0.28% W03, 55.1g/t Ag, 353ppm Cu & 0.26% Zn from 27 - 45.5m (18.5m @ 0.48% WO3Eq* or 1.57% CuEq**); and
o 18.2m @ 0.25% W03, 97.6g/t Ag, 802ppm Cu & 1.03% Zn from 58 - 76.2m (18.2m @ 0.66% WO3Eq* or 2.17% CuEq**); including
- 6.0m @ 0.24% W03, 253.3g/t Ag, 205ppm Cu & 1.09% Zn from 58 - 64m (6.0m @ 1.11% WO3Eq* or 3.64% CuEq**).
§ Drillhole PM24-039 highlight downhole intersection :
o 7.5m @ 0.21% W03, 2.9g/t Ag, 125ppm Cu & 0.12% Zn from 26.5 - 34m (7.5m @ 0.23% WO3Eq* or 0.75% CuEq**); and
o 12.1m @ 0.35% W03, 57.2g/t Ag, 5103ppm Cu & 0.98% Zn from 41.8 - 53.9m (12.1m @ 0.76% WO3Eq* or 2.50% CuEq**).
*,**Copper and W03 Equivalent ("WO3Eq") are calculated using a tungsten price of US $337.5/MTU, a zinc price of US$1.263/lb, a copper price of US$4.57/lb and a silver price of US$31.12/Oz.
Cautionary note: The metal equivalent calculations do not consider any metallurgical factors and assume 100% recovery and 100% payability of all metals, as a result the stated equivalents are provided for illustrative purposes only.
Results
Table 1: 2024 Drillhole collar table (this RNS)
|
Hole ID |
Zone |
UTM Easting# |
UTM Northing# |
Azimuth (deg.) |
Dip (deg.) |
Down hole Depth (m) |
|
PM24-029 |
Desert Scheelite |
424200.7 |
4248327 |
184.11 |
-53.3 |
81.7 |
|
PM24-030 |
Desert Scheelite |
423858.6 |
4248208 |
180.58 |
-73.1 |
85.04 |
|
PM24-031 |
Desert Scheelite |
423848.3 |
4248234 |
184.95 |
-83.3 |
125.9 |
|
PM24-032 |
Desert Scheelite |
423810 |
4248226 |
178.37 |
-73.3 |
106.1 |
|
PM24-033 |
Desert Scheelite |
423907.9 |
4248249 |
186.51 |
-47.7 |
78.0 |
|
PM24-034 |
Desert Scheelite |
423957.7 |
4248283 |
178.08 |
-53.4 |
98.45 |
|
PM24-035 |
Desert Scheelite |
423933.5 |
4248276 |
184.43 |
-64.9 |
90.0 |
|
PM24-036 |
Desert Scheelite |
423907.8 |
4248271 |
179.86 |
-50.0 |
42.7 |
|
PM24-037 |
Desert Scheelite |
423907.7 |
4248270 |
182.34 |
-51.0 |
84.4 |
|
PM24-038 |
Desert Scheelite |
423979.5 |
4248290 |
175.62 |
-56.4 |
91.44 |
|
PM24-039 |
Desert Scheelite |
424018.3 |
4248296 |
183.97 |
-61.2 |
78.0 |
#UTM Zone 11 North NAD83 datum
Table 2: Significant Diamond Drillhole Assay Results1
|
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Table 2 notes:
Summary of certificated assay results provided by accredited laboratory ALS USA Inc
ppm: parts per million, 10,000 ppm = 1%
a: ALS method ME-ICP61;
b: WO3 % calculated as W % multiplied by 1.2611
c: ALS method Zn-OG62
Δ: denotes WO3 % calculated using W ppm (method ME-XRF15c)
F: denotes Zn % calculated using Zn ppm (method ME-ICP61)
Figure 1: 2025 drillhole plan map showing the location of all holes drilled to date. Red drill collars represent holes for which assays have been reported, yellow collars are holes still to be reported.
References
1: ALS USA Inc. analytical method utilised: ME-ICP61 for all samples, with ME-ICP61 overlimit samples also analysed using Ore Grade packages Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62, and W-XRF15c for high-grade tungsten.
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 or contact the following:
|
Guardian Metal Resources plc Oliver Friesen (CEO) |
Tel: +44 (0) 20 7583 8304 |
|
Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll |
Tel: +44 20 7213 0880 |
|
Shard Capital Partners LLP Broker Damon Heath/Erik Woolgar |
Tel: +44 (0) 20 7186 9000 |
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