Guardian Metal Resources plc (LON:GMET)(OTCQX:GMTLF), a strategic development and mineral exploration company focused on Nevada, USA, is pleased to announce an exploration update at the Company's 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA ("Garfield" or the "Project").
BACKGROUND
Guardian Metal's technical team recently completed a geological site visit with a focus on assessing the high-grade gold potential of the 'Pamlico Zone' in the south of the Project area. This work followed on from the late 2023 prospecting and rock sampling work over the same area, where all five samples collected returned high grade gold results (ranging 4.98 g/t Au up to 18 g/t Au, Table 1) with silver and copper (results announced 9 January 20241 and 23 January 2024).
HIGHLIGHTS
Sample CJ0079 has returned overlimit antimony (>10,000g/t or 1%), gold (>10g/t), silver (>100g/t), lead (>10,000 or 1%) as well as 3,920ppm Cu (Table 1).
Guardian Metal has instructed the laboratory to complete the required analytical methods to determine the final assay results for the above overlimit metals.
The 'Pamlico Zone' is emerging as an increasingly significant mineralised area with not only high-grade gold and base-metal mineralisation, but also very attractive antimony potential.
The 2023 and 2024 results place the 'Pamlico Zone' along the continuum between a low-sulphidation to high sulphidation silver-gold system; representing a new deposit style not previously identified at Garfield.
Alongside the Company's primary focus on tungsten, antimony is of interest as it is a critical defence metal for which the United States is prioritising a reduction in import reliance from foreign suppliers.
Select results from the Pamlico Zone including the five previously collected samples along with the recent sampling include:
Table 1: Significant Assay Results for Rock Samples Collected over the Garfield Project Pamlico Zone target area
Sample Number
Antimony (g/t)
Gold (g/t)
Silver (g/t)
Copper (%)
Lead (ppm)
CJ0079*
>10,000g/t
>10g/t
>100g/t
0.39%
>10,000ppm
CJ0080*
108 g/t
1.36g/t
6.48g/t
0.06%
2,040 ppm
723336**
7,910 g/t
18.35 g/t#
1,225 g/t
1.89%
>10,000 ppm
723337**
477 g/t
7.5 g/t#
47.5 g/t
0.42%
9,950 ppm
723338**
2320 g/t
9.97 g/t#
105 g/t
0.28%
5,790 ppm
723339**
597 g/t
22.7 g/t#
81 g/t
0.24%
5,070 ppm
723340**
1650 g/t
4.98 g/t#
66.6 g/t
0.74%
2,510 ppm
Table notes: Rock sample assay results certificated by ALS USA Inc. using methods ME-ICP61a, Au-AA23 and Au-GRA21. Results reported in ppm = parts per million. 1ppm Au equivalent to 1g/t Au.
#Gold assay using Au-GRA21 fire assay and gravimetric finish, due to over limit (>10ppm Au) returned using method Au-AA23.
"We are highly encouraged by the latest exploration results from our Garfield Project, particularly the emerging significance of the Pamlico Zone - a target organically generated and staked by our technical team resulting in royalty free 100% ownership. The presence of high-grade antimony and gold within this emerging epithermal target, along with the existing copper-gold-silver porphyry- and skarn-potential, underscores the significance of this Project.
"Antimony's critical importance as a defence metal, coupled with the U.S. focus on reducing reliance on foreign imports, places Guardian Metal in a unique position to contribute to domestic supply chains. While tungsten remains our primary focus, this antimony result highlights the strategic importance of our entire project portfolio. We remain committed to maximising the value of Garfield for our shareholders while aligning with national priorities for critical mineral independence."
GEOLOGY UPDATE
Analytical and visual results from the 'Pamlico Zone' have shed new light on the geological potential of Garfield. In particular, along with the overlimit antimony, gold, and silver results which displayed classic quartz-colloform low-sulphidation epithermal textures (Figure 1), the latest sample results display strong epithermal style elemental correlations, in the base and trace metals As (arsenic), Bi (bismuth), Cu (copper), Pb (lead), Zn (zinc), Sb (antinomy) and Mo (molybdenum). These correlations place the Pamlico Zone along the continuum between a low-sulphidation gold and high-sulphidation silver-gold system.
Guardian Metal holds a 100% interest in the Garfield Project through its wholly-owned Nevada operating company, Golden Metal Resources LLC. A 2% Net Smelter Return Royalty ("NSR Royalty") Interest, of which 1% can be bought back at any time for US$1,000,000, is payable to Sunrise Resources plc (LON:SRES). The NSR Royalty covers the original Garfield Project claims as well as a 1 mile radius outside of those claims which covers roughly half of the current 'High-Grade Zone' footprint. The Pamlico and Freeze Zones are entirely royalty free.
COMPETENT PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O'Reilly (MSc, DIC, QMR 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.
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.
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.
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