Golden Metal Resources plc has discovered two zones of “significant” copper anomalies at its Garfield project within the Walker Lane mineral belt in Nevada, USA.
EXPECTATIONS
The Power Line and High-Grade zones returned individual copper-in-soil results of up to 851ppm and 950ppm copper from high resolution soil sampling results.
Golden Metal said that both were coincident with historical rock sampling results which returned up to 2.6% copper at Power Line and 5.53% copper at High-Grade.
Power Line is a northeast-southwest trending copper-in-soil anomaly which extends for over 1,500m in length and remains open towards the southwest.
High-Grade is a 1.5km by 0.8km copper-in-soil anomaly, remaining open towards north, south and east, and lies approximately 1km southeast of the Power Line.
Chief executive Oliver Friesen added that the “very positive results” had exceeded the company’s original expectations.
“It is important to note that the main focus remains on Pilot Mountain (tungsten) followed by Golconda Summit (gold), however, the results presented today should clearly highlight the depth, as well as quality, of our overall combined project portfolio.
“The original property acquired included only a small footprint covering the original Garfield showing.
“Fast forward to today, the Garfield project has been expanded significantly from its original acquisition size and we have now identified two considerable copper zones.”
Golden Metal plans to look at additional exploration targets at the project.
The company’s main investor is Power Metal Resources plc with a 62.06% interest and 3,498,756 warrants to subscribe for further shares.