Guardian Metal celebrates latest Pilot Mountain drilling results

Guardian Metal Resources PLC on Monday announced drilling results that it said support the potential for resource growth at its Pilot Mountain project.

The London-based miner, focused on tungsten exploration in Nevada, said drilling confirmed extensive tungsten mineralisation over a 200-metre strike distance at the northern Tremor Zone, while results from the zone's south remain pending.

Significant downhole drill hole intersections included 64.15 metres at 0.20% tungsten trioxide from 139.97 metres, including 14.27 metres at 0.34% WO3 from 147.68 metres; and 5.11 metres at 0.28% WO3 from 101.19 metres.

Guardian Metal noted that PM26-097 intersected several zones of tungsten mineralisation, including 16.60 metres at 0.19% WO3 from 53.23 metres downhole; 44.08 metres at 0.18% WO3 from 86.03 metres; and 6.68 metres at 0.23% WO3 from 144.72 metres.

It also noted that drilling in the Good Hope Zone returned multiple tungsten drill intersections, within 1.1 to 1.3 kilometres of the existing Pilot Mountain mineral resource areas, from near surface. These included 12.95 metres at 0.79% WO3 from 12.19 metres from GH26-01; and 13.11 metres at 0.42% WO3 from 2.13 metres from GH26-02.

Both holes, the company said, were twinned. GH26-02 was drilled to recover the upper part of the zone. Combined, the two represent a combined apparent thickness of 23 metres with an average grade of 0.58%.

"We have always maintained that Pilot Mountain has significant exploration upside, and these results reinforce the potential to expand tungsten mineralisation beyond the mineral resources that underpin our recently completed pre-feasibility study," commented Chief Executive Officer Oliver Friesen. "The Tremor Zone did not form part of the PFS mineral resource, yet drilling continues to highlight meaningful size and scale, with mineralisation remaining open in multiple directions.

"This has been sufficient for us to relocate the proposed TSF and preserve the option to incorporate the Tremor Zone into a future mine plan. At the Good Hope Zone, the first holes ever drilled have returned strong tungsten grades from surface, close to the existing resource areas."

Friesen continued: "With numerous exploration targets still to be drill tested, we see potential to add further tungsten resources, subject to further drilling and evaluation, while the DFS, engineering and permitting advance in parallel and at pace as we work to make Pilot Mountain the first new tungsten mine on US soil in over a decade."

Guardian Metal shares were down 6.3% at 154.59 pence in London early on Monday afternoon, but had earlier shot up 7.3%.

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