Golden Metal Resources plc’s rock sample results showed “extensive high-grade” copper, silver and gold mineralisation at the Garfield project within the Walker Lane mineral belt in Nevada, USA.
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Garfield lies within a north-south trending copper-gold porphyry/skarn belt, extending south from Hawthorne.
Porphyry deposits are characterised by lower grade but bulk tonnage deposits and are “one of the worlds most important sources of copper and silver as well as gold”.
Ground exploration followed identification in September of potential large scale porphyry and skarn-type copper mineralised bodies on two anomalies.
The company said that results from the 32 rock samples were “very promising” with mineralisation styles and lithologies “confirming that Garfield hosts significant large-scale skarn and porphyry type copper, silver and gold mineralisation”.
“The mineralisation now confirmed through the rock sample laboratory assay results extends over a large footprint which indicates the potential for Garfield to host a material copper deposit.”
Of the 32 samples, six returned overlimit copper >10,000ppm or 1% and 14 samples returned >3,000ppm copper (0.3%).
Two samples showed overlimit gold at >1g/t with six samples of >0.3g/t Au, and nine of >5g/t silver with a peak of 37.1g/t silver.
Overlimit assays are currently underway on several samples which exceeded the upper limits of 1% for copper and 1g/t for gold.
“Today’s announcement demonstrates that our 100% owned Garfield project has the potential to host a material copper deposit,” added chief executive Oliver Friesen.
“Previous exploration work demonstrated an extensive copper footprint at Garfield, however the latest findings have far exceeded the company’s expectations.
“To find extensive high-grade copper mineralisation across this footprint size points to the exceptional opportunity Garfield represents to Golden Metal Resources.”