Announcement • Jun 04
Guardian Metal Resources Announces Discovery of Tremor Zone At Pilot Mountain Tungsten Project
Guardian Metal Resources plc announced the discovery of the "Tremor Zone", a newly identified mineralised zone, within the Company's 100%-owned Pilot Mountain Tungsten Project, located in Nevada, USA. Following analysis of geological and geophysical datasets, the Company's in-house technical team identified the Tremor Zone area as one of the Project's priority exploration targets. The area was also being evaluated as a potential location for key mine infrastructure as part of the ongoing Pre-Feasibility Study. Condemnation drilling was therefore required across this blind target area, and the initial drill hole, utilising a reverse circulation drill rig, intersected multiple intervals of tungsten-rich skarn mineralisation. The Pre-Feasibility Study, which is nearing completion, is being supported by a U.S. Department of War $6.2 million Defense Production Act Title III investment in Guardian Metal's wholly-owned subsidiary, Golden Metal Resources (USA) LLC. Tungsten has been designated as a strategic priority by the U.S. government. The Tremor Zone is a newly discovered tungsten-skarn zone, identified by the Company's in-house technical team during condemnation drilling conducted at one of the Project's priority exploration targets in connection with the ongoing Pre-Feasibility Study. The initial Tremor Zone discovery drillhole, PMR26-077, intersected five distinct zones of tungsten-rich skarn mineralisation which include a highlight intercept of 13.68m of 0.31% WO3 from only 102.11m - 115.82m downhole as well as 3.04m of 0.24% WO3 (from 83.83m), 4.56m of 0.16% WO3 (from 118.87m), 1.52m of 0.24% WO3 (from 143.26m), and 4.56m of 0.24% WO3 (from 152.4m). The Tremor Zone is classified as a blind discovery as it is obscured by alluvial cover and therefore does not directly outcrop at surface. Following the completion of RC drillhole PMR26-077, an additional drill rig was mobilised to the area to follow up and to test for any potential extensions. Subsequent drill holes PMR26-078, PMR26-079, PM26-088, PM26-096, and PM26-097 also intersected visually identified tungsten-bearing skarn over approximate widths of 12m, 28m, 66m, 14m and 38m respectively. To date, the Tremor Zone has been delineated over approximately 400 metres of strike length, with drilling ongoing utilising two diamond drill core rigs targeting both infill and step-out drilling as the Tremor Zone remains open in multiple directions. While the Tremor Zone is at an early stage of drilling and will not be incorporated into the upcoming Pre-Feasibility Study, the Company has retained flexibility within its infrastructure planning to allow for its potential inclusion in future studies, subject to further drilling and technical evaluation. The Tremor Zone is located within a part of the Pilot Mountain Project that is entirely royalty free. The Tremor Zone results further support the Company's view that Pilot Mountain may contain further exploration potential, with multiple at-surface skarn zones, including Garnet, Good Hope and Gunmetal, yet to be fully tested, in addition to unnamed blind skarn targets generated by the Company's in-house exploration team. No resource estimate has been prepared for the Tremor Zone and further drilling and evaluation will be required to determine its significance to the broader Pilot Mountain Project. Drillhole ID From (m) To (m) Length (m) WO3(%) Zn(%) Ag(ppm) PMR26-077 83.82 86.87 3.04 0.24 and 102.11 115.82 13.68 0.31 and 118.87 123.44 4.56 0.16 0.22 139.27 and 143.26 144.78 1.52 0.24 0.40 and 152.4 156.97 4.56 0.24 0.40 20.37 Table 1: RC Drill Hole PMR26-077 Downhole Results. 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.
