18 September
2024
Guardian Metal Resources
plc
('Guardian Metal' or the
'Company')
Pilot Mountain - Significant
Drill Result
Desert Scheelite: First
Drillhole PM24-001 Intersects Three Strongly Mineralised W-Zn-Ag-Cu
Intervals
Guardian Metal Resources plc
(LON:GMET, OTCQX:GMTLF), a strategic
development and mineral exploration company focused in Nevada, USA,
is pleased to announce the first diamond core drillhole assay
results from the Company's ongoing drilling campaign at its 100%
owned Pilot Mountain Project ("Pilot Mountain" or the
"Project) located within the prolific Walker Lane Mineral Belt
in Nevada, USA.
Laboratory assay results from drill
core samples confirm diamond core drillhole PM24-001 from the
Desert Scheelite deposit has intersected three zones of highly
significant tungsten mineralisation together with ancillary zinc,
silver and copper (see Table 1 & Table 2).
Oliver Friesen, CEO of Guardian Metal,
commented:
"Guardian Metal could not have asked for a
better start to the Pilot Mountain drilling programme with the
significant assay results achieved in the first drill hole
PM24-001. The results demonstrate three distinct strongly
mineralised tungsten-silver-zinc-copper intervals with the deepest
interval remaining open at depth.
"Drilling has been ongoing since May and we are currently
partway through the 21st hole, with drilling continuing
at pace.
"The coming weeks and months will undoubtedly be the busiest
period for Guardian Metal to date and we are looking forward to
providing the market with commercial/technical updates, including
further assay data and interpretation, as results continue to flow
in from the laboratory.
"With Guardian Metal's investment in exploration and
development and with the outstanding Project findings to date we
consider Pilot Mountain to be a uniquely valuable strategic asset
which we believe can contribute to various U.S. national security
objectives, especially as, currently, there is no domestic
production of tungsten, a much-needed critical defence
metal."
HIGHLIGHTS:
§ Laboratory
assay results confirm diamond drillhole PM24-001 at Desert
Scheelite target (Figure 1) has intersected three strongly
mineralised intervals totalling 38.7m of 'high-grade'1
tungsten mineralisation.
§ PM24-001
high-grade downhole drill intersection composites
comprise:
o 9m @ 0.37%
W03 from 69.1m
(with 2.48% Zn, 43.7g/t
Ag, 433ppm Cu)
o 27.9m @ 0.42%
W03 from 96.6m
(with 1.30% Zn, 23.1g/t
Ag, 1,245ppm Cu)
- including
8m @ 0.84% W03
from 108.7m
o 1.8m @ 0.42%
W03 from 150m to end of
hole (with 1.44% Zn, 7.6g/t Ag,
217ppm Cu), interval remains open at depth and the Company
is considering extending the hole.
§ Review of
historical drilling records shows PM24-001 is one of the most
strongly mineralised drillholes completed at Pilot Mountain/Desert
Scheelite to date.
§ Individual
standout very high-grade assay results include 1.37% W03 (108.7m - 110.2m
downhole depth) and 1.44%
W03 (114m - 115.5m downhole depth) which are some
of the highest ever single drill assay results achieved across
Pilot Mountain to date (see green interval in fig. 1).
§ Core
sample assay results from ALS analytical method ME-ICP61 returned
upper limit of detection ("overlimit") results for 20 tungsten
samples (>3,000ppm W) and 15 zinc results (>10,000ppm Zn),
three silver results (>100g/t Ag), and one lead result
(>10,000ppm Pb). Overlimit samples were reanalysed utilising
specific high-grade analytical packages2.
§ The
Company considers all three of the strongly mineralised zones
within PM24-001 to be near surface, within the context of possible
future mining options, further highlighting the importance of the
Desert Scheelite tungsten deposit and the Pilot Mountain Project as
a whole, and adding further impetus to its successful development
pathway.
§ Based on
various historical reports the Company has decided to selectively
assay PM24-001 for gold (via fire assay) which is now
underway.
§ Strong
visual garnet mineralisation intersected throughout mineralised
skarn-interval in PM24-001 (see fig. 1).
§ The Pilot
Mountain diamond drilling programme commenced in May 2024 and to
date 20 holes have been completed. The 21st
drillhole is currently underway.
§ Drill core
samples are submitted for laboratory assay in batches following
detailed geological and geotechnical logging, results are subject
to thorough quality control and quality assurance (QA/QC)
verification and interpretation prior to release. The results for
PM24-001 constitute the first batch of results. Subsequent batches
will be released following completion of QA/QC verification and
interpretation of results. Strong unreported visual results are
pending including select scheelite (fig. 3) and chalcopyrite (fig.
4) dominate visuals which are available below.
Results
Table 1: Diamond Core Drillhole PM24-001
Details
|
Hole ID
|
Target Area
|
UTM
Easting
#
|
UTM Northing
#
|
Altitude
(m)
|
Core Size
|
Azimuth
(deg.)
|
Dip (deg.)
|
Down hole Depth
(m)
|
|
PM24-001
|
Desert
Scheelite
|
424159
|
4248321
|
1,965
|
NQ
|
195
|
-75.5
|
151.8
|
#
UTM Zone 11 North NAD83 datum
Table 2: Drillhole PM24-001 Significant Intersection Assay
Results
|
Downhole Depth
(m)
|
Interval
(m)
|
W
(ppm)
a
|
W
(%)
b
|
WO3
(%)
c
|
Zn
(%)
d
|
|
Ag
(g/t)
a
|
Cu
(ppm)
a
|
Intersection
Composites
(weighted averages)
c
|
|
From
|
To
|
|
69.1
|
70.6
|
1.5
|
4,720
|
0.47
|
0.59
|
|
3.92
|
|
30.3
|
581
|
9m @ 0.37 WO3,
43.7g/t Ag, 2.48% Zn & 433ppm Cu
|
|
70.6
|
72.1
|
1.5
|
2,310
|
0.22
|
0.28
|
|
2.28
|
|
44.9
|
815
|
|
72.1
|
73.6
|
1.5
|
2,730
|
0.28
|
0.35
|
|
2.80
|
|
37.9
|
272
|
|
73.6
|
75.1
|
1.5
|
2,420
|
0.25
|
0.32
|
|
1.42
|
|
100.0
|
290
|
|
75.1
|
76.6
|
1.5
|
2,880
|
0.29
|
0.37
|
|
2.67
|
|
29.0
|
474
|
|
76.6
|
78.1
|
1.5
|
2,440
|
0.25
|
0.32
|
|
1.81
|
|
20.1
|
164
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96.6
|
98.1
|
1.5
|
810
|
|
0.10
|
Δ
|
0.22
|
F
|
59.3
|
37
|
|
27.9m @ 0.42% WO3,
23.1g/t Ag, 1.30% Zn & 1245ppm Cu
|
|
98.1
|
99.7
|
1.6
|
3,510
|
0.35
|
0.44
|
|
4.34
|
|
50.8
|
853
|
|
99.7
|
101.2
|
1.5
|
2,940
|
0.29
|
0.37
|
|
2.46
|
|
38.6
|
1,230
|
|
101.2
|
102.7
|
1.5
|
4,180
|
0.42
|
0.53
|
|
1.03
|
|
145.0
|
157
|
|
102.7
|
104.2
|
1.5
|
1,940
|
|
0.24
|
Δ
|
0.60
|
F
|
23.3
|
1,485
|
|
104.2
|
105.7
|
1.5
|
2,150
|
0.21
|
0.26
|
|
0.05
|
F
|
3.8
|
1,580
|
|
105.7
|
107.2
|
1.5
|
1,090
|
|
0.14
|
Δ
|
0.03
|
F
|
1.9
|
705
|
|
107.2
|
108.7
|
1.5
|
740
|
|
0.09
|
Δ
|
0.02
|
F
|
1.3
|
319
|
|
108.7
|
110.2
|
1.5
|
9,540
|
1.09
|
1.37
|
|
0.03
|
F
|
0.8
|
509
|
8m @ 0.84%
WO3
|
|
110.2
|
111.7
|
1.5
|
3,270
|
0.33
|
0.42
|
|
0.02
|
F
|
-
|
77
|
|
111.7
|
113.2
|
1.5
|
3,200
|
0.31
|
0.39
|
|
0.03
|
F
|
-
|
138
|
|
113.2
|
114.0
|
0.8
|
3,230
|
0.33
|
0.42
|
|
0.04
|
F
|
2.4
|
331
|
|
114.0
|
115.5
|
1.5
|
2,700
|
1.14
|
1.44
|
|
0.03
|
F
|
2.4
|
302
|
|
115.5
|
116.2
|
0.7
|
4,120
|
0.43
|
0.54
|
|
0.04
|
F
|
-
|
209
|
|
116.2
|
116.7
|
0.5
|
5,490
|
0.92
|
1.16
|
|
0.17
|
F
|
35.7
|
7,090
|
|
116.7
|
117.6
|
0.9
|
1,700
|
|
0.21
|
Δ
|
0.06
|
F
|
2.0
|
1,505
|
|
|
117.6
|
118.5
|
0.9
|
1,910
|
|
0.24
|
Δ
|
0.13
|
F
|
-
|
271
|
|
118.5
|
120.0
|
1.5
|
1,520
|
|
0.19
|
Δ
|
3.48
|
|
3.4
|
989
|
|
120.0
|
121.5
|
1.5
|
990
|
|
0.12
|
Δ
|
4.56
|
|
29.9
|
2,060
|
|
121.5
|
123.0
|
1.5
|
1,670
|
|
0.21
|
Δ
|
5.74
|
|
23.0
|
8,600
|
|
123.0
|
124.5
|
1.5
|
3,080
|
0.32
|
0.40
|
|
1.10
|
|
29.0
|
362
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
127.5
|
129.0
|
1.5
|
1,810
|
|
0.23
|
|
0.09
|
F
|
8.0
|
365
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
147.0
|
148.5
|
1.5
|
1,050
|
|
0.13
|
|
0.21
|
F
|
-
|
202
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
150.0
|
151.0
|
1
|
3,590
|
0.36
|
0.45
|
|
0.42
|
F
|
0.8
|
41
|
1.8m @ 0.42% WO3,
7.6g/t Ag, 1.44% Zn & 217ppm Cu
|
|
151.0
|
151.8
|
0.8
|
3,060
|
0.30
|
0.38
|
|
2.71
|
|
16.2
|
437
|
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:
ALS method W-XRF10;
c: WO3 % calculated as W % multiplied by
1.2611
d:
ALS method Zn-OG62
Δ:
denotes WO3 % calculated
using W ppm (method ME-ICP61)
F: denotes Zn % calculated using Zn ppm (method
ME-ICP61)
Media
Figure 1:
2024 drillhole
plan map showing the location of all holes drilled to date
including PM24-001 (results released herein).
Figure 2:
PM24-001 drill
core from 112.2m to 114.6m under normal light (top), and shortwave
ultraviolet ("UV") light (below). The red interval (111.7-113.2m)
returned 0.39% W03, 138ppm Cu, 263ppm Zn; The yellow
interval (113.2-114m) returned 0.42% W03, 2.4g/t Ag,
331ppm Cu, 411ppm Zn, and the green interval (114-115.5m) returned
1.44% W03, 2.4g/t Ag, 302ppm Cu, 346ppm Zn. Dark
red/brown rock material in top photo predominantly composed of
garnet.
Figure 3: Unreported
scheelite-rich interval from PM24-12 (under UV
light).
Figure 4:
Unreported
chalcopyrite-rich interval from PM24-04 (approximately at 126m
depth).
References
1:
Tungsten skarn deposits, which is the deposit model-type for Desert
Scheelite, have a grade range of 0.24% WO3
(90th percentile), 0.44% WO3 (50th
percentile) to 0.88% WO3 (10th percentile).
Source: Green, C.J., Lederer, G.W., Parks, H.L., and Zientek, M.L.,
2020, Grade and tonnage model for tungsten skarn deposits-2020
update: U.S. Geological Survey Scientific Investigations Report
2020-5085, 23 p., https://doi.org/10.3133/sir20205085
2:
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-XRF10 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).
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
Lead Broker
Damon Heath/Erik Woolgar
|
Tel: +44 (0) 20 7186 9000
|
|
First Equity Limited
Broker
Jason Robertson
|
Tel: +44 20 7374 2212
|
