26 November 2024
Guardian Metal Resources
plc
('Guardian Metal' or the
'Company')
Pilot Mountain - Significant
Drill Results
Desert Scheelite: Further
Very High-Grade Tungsten & Copper Results
Guardian Metal Resources plc
(LON:GMET, OTCQX:GMTLF), a strategic
mineral exploration and development company focused in Nevada, USA,
is very 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
covering PM24-014 to PM24-017 with some further very high-grade
tungsten and copper results being intersected as well as one of the
longest mineralised intervals ever drilled at Pilot Mountain from
PM24-017. To date 37 drillholes have been completed, the
38th drillhole is currently underway (Fig.
1).
Oliver Friesen, CEO of Guardian Metal,
commented:
"Tungsten, classified as a 'Dual-Use' metal,
is indispensable in both modern industrial and military
applications, making it critical for U.S. national and economic
security. Given the current geopolitical climate and the United
States' tungsten import reliance, the timing could not be better
for Guardian Metal to be advancing its 100% owned Pilot Mountain
tungsten Project located in mining friendly
Nevada.
"With these latest high-grade tungsten and copper drill assay
results now reported, we are one step closer to updating the
Mineral Resource and mine plan for inclusion in our pre-feasibility
study and to the Company's ultimate goal of supporting the United
States' onshoring efforts for this very important Dual-Use
metal."
Desert Scheelite Highlights:
§ Laboratory
assay results confirm diamond drillhole PM24-017 at Desert
Scheelite has intersected a 46m mineralised interval, one of the
longest recorded to date at Pilot Mountain.
§ PM24-017
downhole highlight drill intersections comprise:
o 46m @ 0.413% W03,
12.2g/t Ag, 2,476ppm Cu & 0.37%
Zn from 66.4 - 112.4m (46m @ 0.55%
WO3Eq* or 2.04% CuEq**); including
-
10.8m @ 0.681% W03,
1.2g/t Ag, 684ppm Cu & 0.18% Zn from 66.4 - 77.2m
(10.8m @ 0.72% WO3Eq* or 2.67% CuEq**); and
-
7.6m @ 0.917% W03,
29.2g/t Ag, 10,982ppm Cu (1.098%) & 0.64% Zn from
101.2 - 108.8m (7.6m @ 1.36% WO3Eq* or 5.04%
CuEq**).
§ PM24-014
downhole highlight drill intersection comprises:
o 15.1m @
0.141% W03, 45.2g/t Ag, 12,923ppm Cu
(1.292%) & 0.65% Zn from 20.4 -
35.5m (15.1m @ 0.68% WO3Eq* or 2.54% CuEq**).
§ The vast
majority of the intercepts above are located entirely within the
planned pit shell and locally represent a significant upgrade from
the low grade block model that occupied the area
beforehand.
§ Individual
standout extremely high-grade assay result of 1.5m @ 5.02% Cu (25m
- 26.5m downhole depth) from PM24-014 represents the second highest
drilled copper assay results achieved from Pilot Mountain to
date.
*,**Copper
and W03 Equivalent ("WO3Eq") are calculated
using a tungsten price of $330/MTU, a zinc price of US$1.3407/lb,
and copper price of US4.0334/lb and a silver price of
US$31.31/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.
Copper Porphyry Update PM24-004:
Company geologists have completed a
further review of assays previously reported from PM24-004.
Significantly, high-grade copper was intersected within a
mineralised quartz monzonite (porphyry). Mineralisation includes
disseminated chalcopyrite and molybdenite in the quartz
monzonite as well as an approximately 0.4m wide
chalcopyrite-pyrite-quartz vein. Assays across this interval
returned 2.8m @ 1.00% Cu & 18.7 g/t Ag, including 0.4m @ 2.96%
Cu & 47.3 g/t Ag.
On 11 November 2024 the Company
announced the findings of a study which supported the likelihood
that a copper rich zone may exist within the Porphyry South
target.1 The presence of high-grade copper successfully
intercepted within a porphyry interval from PM24-004 further
increases the prospect of copper enrichment within Porphyry South
as well as other porphyry targets across Pilot
Mountain.
Fig 1.
Photograph of
drill core from PM24-004, showing sericite altered quartz monzonite
mineralised with massive chalcopyrite-pyrite-quartz veining.
Chalcopyrite, pyrite and molybdenite are also disseminated in the
quartz monzonite. Qtz = quartz, Cpy = chalcopyrite, Py = pyrite, QM
= quartz monzonite.
Results
Table 1: 2024 Drillhole collar table (this
RNS).
|
Hole ID
|
Target Area
|
UTM
Easting#
|
UTM
Northing#
|
Azimuth
(deg.)
|
Dip (deg.)
|
Down hole Depth
(m)
|
|
PM24-014
|
Desert
Scheelite
|
424286.7
|
4248309
|
180.54
|
-59.85
|
54.9
|
|
PM24-015
|
Desert
Scheelite
|
424293.4
|
4248313
|
181.73
|
-49.07
|
59.1
|
|
PM24-016
|
Desert
Scheelite
|
424330.5
|
4248328
|
179.72
|
-63.24
|
125.9
|
|
PM24-017
|
Desert
Scheelite
|
424305.1
|
4248329
|
182.92
|
-67.89
|
121
|
#UTM Zone 11 North NAD83
datum
Table 2: Significant Diamond Drillhole Assay
Results2
|
Hole ID
|
Downhole Depth
(m)
|
Interval
(m)
|
W
|
W
|
WO3
|
|
Zn
|
|
Ag
|
Cu
|
Intersection
Composites
|
|
From
|
To
|
(ppm) a
|
(%) b
|
(%) c
|
|
(%) d
|
|
(g/t) a
|
(ppm) a
|
(weighted averages)
c
|
|
PM24-014
|
20.4
|
23.5
|
3.10
|
1,380
|
-
|
0.17
|
Δ
|
0.62
|
|
17.3
|
8,230
|
15.1m @
0.141 % WO3, 45.2g/t Ag, 0.65 % Zn & 1.29 % Cu
|
|
23.5
|
25.0
|
1.50
|
1,260
|
-
|
0.16
|
Δ
|
0.49
|
|
30.7
|
9,940
|
|
25.0
|
26.5
|
1.50
|
2,210
|
0.31
|
0.39
|
|
0.86
|
|
105.0
|
50,200
|
|
26.5
|
27.8
|
1.30
|
860
|
-
|
0.11
|
Δ
|
0.67
|
|
48.2
|
11,950
|
|
27.8
|
30.0
|
2.20
|
600
|
-
|
0.08
|
Δ
|
0.97
|
|
142.0
|
3,480
|
|
30.0
|
31.5
|
1.50
|
140
|
-
|
0.02
|
Δ
|
0.53
|
|
5.9
|
468
|
|
31.5
|
32.8
|
1.30
|
130
|
-
|
0.02
|
Δ
|
0.64
|
|
5.7
|
782
|
|
32.8
|
34.3
|
1.50
|
1,570
|
-
|
0.20
|
Δ
|
0.41
|
|
7.6
|
30,600
|
|
34.3
|
35.5
|
1.20
|
720
|
-
|
0.09
|
Δ
|
0.49
|
|
18.3
|
7,180
|
|
|
|
PM24-015
|
25.3
|
26.8
|
1.50
|
1,750
|
-
|
0.22
|
Δ
|
0.58
|
|
5.8
|
1,315
|
7.0m @
0.200% WO3, 6.2 g/t Ag, 0.79% Zn & 0.18% Cu
|
|
26.8
|
28.3
|
1.50
|
1,860
|
-
|
0.23
|
Δ
|
1.21
|
F
|
8.9
|
2,880
|
|
28.3
|
29.3
|
1.00
|
1,730
|
-
|
0.22
|
Δ
|
0.42
|
|
4.0
|
1,110
|
|
29.3
|
32.3
|
3.00
|
1,320
|
-
|
0.17
|
Δ
|
0.81
|
|
5.8
|
1,700
|
|
33.8
|
34.8
|
1.00
|
1,070
|
-
|
0.13
|
Δ
|
0.71
|
|
18.2
|
10,350
|
2.5m @
0.069% WO3, 10.8 g/t Ag, 0.66% Zn & 0.97% Cu
|
|
34.8
|
36.3
|
1.50
|
200
|
-
|
0.03
|
Δ
|
0.62
|
|
5.9
|
9,300
|
|
|
|
PM24-016
|
78.3
|
79.8
|
1.50
|
1,700
|
-
|
0.21
|
|
0.04
|
|
1.0
|
336
|
4.6m @
0.350% WO3, 42.7 g/t Ag, 0.92% Zn & 0.05% Cu
|
|
79.8
|
81.4
|
1.60
|
2,210
|
0.30
|
0.38
|
|
1.16
|
F
|
1.7
|
366
|
|
81.4
|
82.9
|
1.50
|
2,800
|
0.36
|
0.45
|
|
1.56
|
F
|
128.0
|
802
|
|
|
|
PM24-017
|
66.4
|
68.1
|
1.70
|
5,290
|
1.50
|
1.89
|
|
0.16
|
|
4.3
|
2,030
|
10.8m @
0.681% WO3, 1.23 g/t Ag, 0.18% Zn & 0.07% Cu
|
46.0m @
0.413% WO3, 12.2 g/t Ag, 0.37% Zn & 0.25% Cu
|
|
68.1
|
69.6
|
1.50
|
2,770
|
0.82
|
1.03
|
|
0.52
|
|
2.3
|
832
|
|
69.6
|
71.1
|
1.50
|
1,870
|
-
|
0.24
|
Δ
|
0.04
|
|
-
|
75
|
|
71.1
|
72.7
|
1.60
|
3,260
|
0.42
|
0.53
|
|
0.05
|
|
-
|
446
|
|
72.7
|
74.2
|
1.50
|
1,770
|
-
|
0.22
|
Δ
|
0.16
|
|
1.2
|
359
|
|
74.2
|
75.7
|
1.50
|
1,460
|
-
|
0.18
|
Δ
|
0.11
|
|
-
|
169
|
|
75.7
|
77.2
|
1.50
|
3,080
|
0.41
|
0.52
|
|
0.23
|
|
0.5
|
711
|
|
77.2
|
78.7
|
1.50
|
1,570
|
-
|
0.20
|
Δ
|
0.20
|
|
-
|
130
|
|
|
78.7
|
80.6
|
1.90
|
1,290
|
-
|
0.16
|
Δ
|
0.37
|
|
-
|
99
|
|
80.6
|
82.1
|
1.50
|
150
|
-
|
0.02
|
Δ
|
0.06
|
|
2.0
|
29
|
|
82.1
|
83.5
|
1.40
|
110
|
-
|
0.01
|
Δ
|
0.03
|
|
-
|
32
|
|
83.5
|
85.0
|
1.50
|
1,240
|
-
|
0.16
|
Δ
|
0.18
|
|
0.6
|
65
|
|
85.0
|
86.5
|
1.50
|
670
|
-
|
0.08
|
Δ
|
0.07
|
|
-
|
81
|
|
86.5
|
88.0
|
1.50
|
1,490
|
-
|
0.19
|
|
0.64
|
|
14.9
|
633
|
|
88.0
|
91.0
|
3.00
|
1,660
|
-
|
0.21
|
Δ
|
0.09
|
|
1.2
|
163
|
|
91.0
|
92.5
|
1.50
|
1,290
|
-
|
0.16
|
Δ
|
0.38
|
|
1.6
|
83
|
|
92.5
|
93.7
|
1.20
|
2,530
|
0.33
|
0.42
|
|
1.86
|
F
|
4.9
|
273
|
|
93.7
|
95.2
|
1.50
|
240
|
-
|
0.03
|
Δ
|
0.07
|
|
2.6
|
27
|
|
95.2
|
96.6
|
1.40
|
20
|
-
|
0.00
|
|
0.04
|
|
-
|
24
|
|
96.6
|
98.1
|
1.50
|
550
|
-
|
0.07
|
Δ
|
0.70
|
|
32.1
|
354
|
|
98.1
|
99.7
|
1.60
|
2,310
|
0.32
|
0.40
|
|
1.30
|
F
|
124.0
|
225
|
|
99.7
|
101.2
|
1.50
|
1,170
|
-
|
0.15
|
Δ
|
0.57
|
|
5.6
|
2,220
|
|
101.2
|
102.7
|
1.50
|
2,490
|
0.32
|
0.40
|
|
0.27
|
|
7.9
|
992
|
7.6m @
0.9217% WO3, 29.15 g/t Ag, 0.64% Zn & 1.10% Cu
|
|
102.7
|
103.6
|
0.90
|
3,340
|
1.51
|
1.90
|
|
0.74
|
|
13.6
|
5,040
|
|
103.6
|
104.7
|
1.10
|
2,640
|
0.66
|
0.83
|
|
0.25
|
|
4.8
|
2,000
|
|
104.7
|
105.9
|
1.20
|
2,690
|
1.58
|
1.99
|
|
1.78
|
F
|
31.9
|
16,950
|
|
105.9
|
107.3
|
1.40
|
3,210
|
0.47
|
0.59
|
|
0.75
|
|
19.3
|
8,680
|
|
107.3
|
108.8
|
1.50
|
2,160
|
0.27
|
0.34
|
|
0.23
|
|
84.6
|
28,500
|
|
108.8
|
109.4
|
0.60
|
240
|
-
|
0.03
|
Δ
|
0.12
|
|
24.4
|
12,050
|
|
|
109.4
|
111.1
|
1.70
|
1,780
|
-
|
0.22
|
Δ
|
0.07
|
|
1.9
|
880
|
|
111.1
|
112.4
|
1.30
|
2,650
|
0.35
|
0.44
|
|
0.10
|
|
10.2
|
5,730
|
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)
Figure 1:
2024 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:
https://www.londonstockexchange.com/news-article/GMET/geochemical-results-confirm-porphyry-cu-fertility/16758532
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
Broker
Damon Heath/Erik Woolgar
|
Tel: +44 (0) 20 7186 9000
|
